Suits & Sayings: Meltdown in Mandrem

What can be better than some sun, sea and stout for a sojourn by the beaches of Goa to talk strategy? Or so they thought—we are talking about an angel’s collective from the Garden City, its most handsome billionaire stock picker and podcaster along with an international VC firm of great repute. Suits from some of the biggest local business groups, policy wonks and a senior minister too were flown in to brainstorm with new-age entrepreneurs. The mood was jovial and the vibe relaxed, till a fresh-faced founder who has upended the rules of commerce with his fast and furious ways, took to the stage and talked about how quickly his team was revolutionising his industry. This ticked off the mantri, who lashed out at easy VC money distorting the socio-economic balance, exacerbating job losses and ruining small businesses and even warned of strict regulatory action in future. Once the frazzled young founder left for the airport, one of the more politically connected organisers had to cool temperatures in the room.

(For more on our weekly roundup of wackiest whispers and murmurs in corporate corridors & policy parlours, pick up today's edition of The Economic Times newspaper)