Startups & Layoffs - What we are missing?

Last few months we are seeing multiple stories of tech companies layoffs. Companies like Twitter, Snapchat, Groupon, Zomato, TinyOwl have laid off people recently. Some of the interesting patterns if we review these companies and their business models closely can be described as follows

1. Most of the startups are in new economy businesses and they are primarily building businesses either with aggregator model or platform model. In one of my previous posts, we briefly discussed about this new economy business models, What is business 2.0?  
2. Most of these startups have overlooked profitability and unit economics over growth and scale.Understanding real equilibrium between scale and profitability is key to success or failure of business with new economy business model.
3. Most of these companies struggled with scale-up planning and assumed that they would be be able to raise next rounds with unrealistic valuations. Market dynamics has changed significantly and numbers in USA and China are pushing VC's to take cautious approach to funding.
4. There are large number of me-too startups trying to replicate proven business models in one economy into another economy without understanding local dynamics and business drivers.
5. Lot of these companies are founded or driven by technology founders. Many of the them were so obsessed with software and technology product. They built massive in-house technology teams and spent significant energy and focus on software piece without understanding what is core to the business and what is real value proposition for customers?
6. If we look at customer acquisition costs of most of these businesses we will understand viability and sustainability challenges of these businesses. Any business with significantly higher customer acquisition cost can never be scaled and can never be profitable. One of the quote from Dr. Edward Deming sums it all " Profit in business comes from repeat customers, customers that boast about your product or a service and that bring friends with them."
7. With easy availability of funding and media obsession of breaking news about investments and funding, lot of startups failed to understand importance of frugality and working with constraints. Frugality and constraints drive innovation that could bring sustainable competitive advantage for business.