Lesson for entrepreneurs: Unbridled ambition and greed can be the foundation of only a house of cards

The latest in a series of crises plaguing Byju’s has posed an existential threat to the ed-tech giant and serves a cautionary tale of its beleaguered founder, Byju Raveendran. Over time, the company has cut jobs in multiple rounds of layoffs, seen its valuation drop drastically, and its investors have accused the former tutor with dreams of turning into a larger-than-life entrepreneur of corporate governance lapses, and have sought his removal. Now, the National Company Law Tribunal (NCLT) has admitted insolvency proceedings against Byju’s, which has appealed to the appellate tribunal.