The Many Mistakes of Bhavish Aggarwal

Summary

The video script details the journey of Ola Electric's founder, Bish Ugal, highlighting his entrepreneurial successes and failures. From the S1 electric scooter's launch and eventual discontinuation to international expansion challenges and the pivot to electric scooters, the narrative underscores the importance of learning from setbacks. It also covers Ola's ventures into ride-hailing, food and grocery delivery, and the eventual focus on electric mobility, showcasing the company's resilience and adaptability in the face of market competition.

Takeaways

• 🛴 Ola Electric's S1 scooter faced multiple issues, including a delay in shipping and eventual discontinuation.
• 🌐 Ola's international expansion plans for electric scooters in Nepal, Latin America, Southeast Asia, and the EU have not materialized as expected.
• 🚗 In 2017, Ola Electric's future was uncertain due to the scrapping of a pilot program for electric cabs in Nagpur.
• 🛵 The company's initial focus on electric rickshaws and e-shaws did not meet initial targets, leading to a shift in strategy.
• 🚖 Ola's cab business struggled in international markets like Australia, New Zealand, and the UK, eventually leading to an exit from these markets.
• 🚍 Ola experimented with various mobility services like Ola Shuttle and Ola Pedal, but these were short-lived and eventually discontinued.
• 🚗 Ola Drive, an attempt to enter the car rental market, was also shut down, with the infrastructure repurposed for electric scooter sales and service.
• 🍽 Ola Cafe, an attempt at food delivery, failed to compete with established players and was shut down, although Ola later acquired Foodpanda's India business.
• 🛒 Ola Store, a hyperlocal grocery delivery service, was another short-lived venture that was closed down due to unprofitability.
• 🛒 Despite past failures, Ola is still exploring the grocery delivery space with the announcement of Ola Dark Store, an automated dark store platform.

Q & A

What was the initial product that Ola Electric launched in July 2021?

Ola Electric initially launched pre-bookings for the S1 and S1 Pro electric scooters in July 2021.

Why did Ola Electric decide to upgrade all S1 customers to S1 Pro Hardware?

Ola Electric decided to upgrade all S1 customers to S1 Pro Hardware because a vast majority of customers chose the S1 Pro, leading the company to push the manufacturing of the standard S1 to late 2022.

When did Ola Electric officially retire the standard S1 electric scooter?

Ola Electric officially retired the standard S1 electric scooter in July 2023.

What was the first international market Ola Electric planned to enter with their electric scooters?

Nepal was the first international market Ola Electric planned to enter with their electric scooters.

Why did Ola Electric's expansion plans into Europe not materialize as of 2024?

As of 2024, Ola Electric's expansion plans into Europe had not materialized, possibly due to various challenges such as market competition, regulatory hurdles, or strategic realignment.

What was the outcome of Ola Electric's pilot program in Nagpur with Mahindra for electric cabs?

The pilot program in Nagpur with Mahindra for electric cabs was ultimately scrapped as it was decided that India wasn't ready for mass adoption of electric cars at that time.

When did Ola's food delivery service, Ola Cafe, shut down?

Ola Cafe, Ola's food delivery service, was shut down in 2016 due to funding challenges and intense competition in the food delivery market.

What was the fate of Ola's car rental service, Ola Drive, and why was it discontinued?

Ola Drive was discontinued at some point in 2022, possibly due to the company's decision to refocus on its Electric Vehicle Division and the challenges in competing with established players in the car rental market.

How did Ola's grocery delivery service, Ola Store, fare against competitors like BigBasket and Grofers?

Ola Store, the grocery delivery service, was shut down due to unprofitability and competition from established players like BigBasket and Grofers.

What was the original vision behind Ola's founder, Bhavish Aggarwal's, first business venture?

The original vision behind Bhavish Aggarwal's first business venture was to build a business around weekend holiday excursions, specifically whitewater rafting trips in Rishikesh.

How did Ola's initial foray into the ride-hailing industry outside of India fare in terms of market share?

Ola's initial foray into the ride-hailing industry outside of India faced stiff competition, with the company slipping to third place in Australia and struggling to compete effectively in the UK and New Zealand.