
Thought Behind Things
Why Airlift Failed But This Tech Startup Became Profitable | Maha Shahzad | TBT Podcast
How did a Pakistani mobility startup achieve profitability in a sector that destroyed giants like Airlift, Uber, and Swvl? In this episode of the Thought Behind Things podcast, Maha from Bus Karo returns to share the untold reality of surviving Pakistan’s brutal public transport graveyard amidst skyrocketing fuel prices.While the tech ecosystem celebrates funding rounds, we are taking a hard look at the macro-economic nightmare of running a real, operational business in Pakistan. Maha breaks down the absurd reality of the country's taxation system—where unprofitable startups are forced to use foreign VC money just to pay 70% withholding taxes to the government. We also dive into the harsh economics of Electric Vehicles (EVs) for public transport, the lack of working capital from local banks, and why building a business in Pakistan right now is strictly for "masochists." If you want an unfiltered, unscripted look into the true cost of solving Pakistan's biggest systemic problems, watch this until the end.Timestamps: (Note: Adjust the exact minute markers to match your final video timeline)Intro: The Startup Graveyard (Airlift, Swvl) & A Rare Success StoryHow Bus Karo Reached Profitability Amidst a Fuel CrisisThe Real Numbers: 1.5 Million Bookings & 30,000 Daily UsersWhy Govt Fuel Subsidies Completely Ignore the Poorest CommutersWill Electric Buses (EVs) Actually Work in Pakistan? (The Real Math)The Cost of ICE vs. EV Buses: Who Pays the Delta?Why Investors Stopped Funding Non-AI StartupsThe 70% Tax Trap: Paying Government Taxes with Foreign VC MoneyWhy Pakistani Banks Refuse to Lend to StartupsCorporate Jugaad, Fraud, and the Broken Mobility Ecosystem"Don't Build in Pakistan Unless You're a Masochist"

