Good Glamm Group, a Mumbai-based unicorn, faces significant challenges, leading to the resignation of board members from three venture capital firms in December. This move raises concerns about corporate governance within India’s startup ecosystem. Financial difficulties, including delayed salary payments and layoffs, prompted the exits as board members sought to mitigate legal liabilities. Good Glamm, which owns various beauty brands, is undergoing restructuring and plans to reconstitute its board. The situation mirrors that of Byju’s, highlighting ongoing governance issues and prompting discussions on investor responsibilities in maintaining transparency and ethical leadership amidst financial turmoil in startups.