Why are GIANT Edtech companies FAILING in India? : Edtech Crash Case study

In the past few months, you must have seen a ton of people being laid off from the edtech industry of India!! what was once a booming industry with every other start-up being valued at a billion dollars, now it looks like the Doomsday for the edtech industry of India !! On one side, while mega-brands like Unacademy laid off 600 employees and BYJU’s laid of 800 employees on the other side, companies like Lido and Udayy have shut down in spite of raising millions of dollars in Funding!! So the question is, How did it suddenly happen that the edtech industry of India went being a goldmine to the graveyard for start-ups? What kind of start-ups will survive this Edtech crash? and most importantly, as students of business, what are the most important lessons that we need to learn from the upcoming edtech crash of India?

https://www.youtube.com/watch?v=VPFGqmFTKSM