Jeremy Au examined the key advantages for venture capital judgment, with a focus on local market expertise in Southeast Asia. VCs must confront the limits of their knowledge and not be overconfident, especially in frontier markets. Global funds have been burned by high-profile and hidden cases of unchecked fraud (e.g., Theranos, FTX, and Zilingo), illustrating how localized due-diligence analysts. He discusses how VCs are evaluating and investing in “lonelytech” AI companionship, exemplified by companies like friend.com, which offers on-demand AI friends for those seeking constant companionship. Reflecting on his experience with Professor Howard Gardner’s work on multiple intelligences and the "Good Citizen Project," Jeremy underscored the societal shift from traditional support systems to commodified relationships, now facilitated by technology. He highlighted the VC’s responsibility in distinguishing sustainable value from fleeting trends while navigating the ethical terrain between investment potential and societal impact.

Watch, listen or read the full insight at https://www.bravesea.com/blog/vc-advantages

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Xem, nghe hoặc đọc toàn bộ thông tin chi tiết tại https://www.bravesea.com/blog/vc-advantages-vn

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LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Chinese: Spotify | YouTube | Apple Podcasts

Vietnamese: Spotify | YouTube | Apple Podcasts

Learn more about Nika.eco! Reach out to info@nika.eco if you are a geospatial data scientist or climate researcher who is interested to partner on a pilot or research opportunities

Kheng Lian Ho, Managing Partner at Turn Capital, and Jeremy Au discussed:

1. Law to Turn Capital Managing Partner: Kheng’s disciplined childhood as a 11-year old Singapore national badminton athlete laid the foundation for her early legal carer For six years, she practiced restructuring and cross-border litigation in Singapore and Hong Kong, drawn to the intellectual challenges but stifled by routine and limited personal connection. Seeking more impactful, people-centered work, Kheng left her law career to do angel investing, be a venture partner at Vectr Ventures in Hong Kong, facilitated deal sourcing and capital markets, and founded the Open Circles community to connect entrepreneurs across Southeast Asia. Building on her extensive network and operational expertise, Kheng co-founded Turn Capital alongside Joseph Phua and Shang Koo. With a focus on acquiring and transforming underperforming consumer tech companies, Turn Capital leverages 40 combined years of experience to revitalize these businesses and guide them back to profitability.

2. Buying Flash Coffee Thailand & Turnaround: Her fund strategy is a. acquired former VC-backed startups plagued by high costs and inefficiencies in social, entertainment, media, and e-commerce sectors b. limited number of acquisitions for deep hands-on business engagement and c. balanced goal of 3-5x returns over five years. Their first acquisition, Flash Coffee Thailand, showcases this method: by reducing the original 46 outlets by half, the team swiftly brought operations to break-even, paving the way for sustainable expansion and long-term growth. Acquiring majority operational control is key to execute rightsizing and achieve profitability within nine months. She shares that they bring an external, objective eye, vs. founders, board and executives that may not be able to reach a consensus to execute the turnaround internally.

3. Emerging Fund Manager Advice: By 2023, Turn Capital successfully raised over $20 million, backed by prominent investors such as Kee Lock from Vertex Ventures, Peng Ong from Monk’s Hill Ventures, and Twitch cofounder Kevin Lin. Kheng underscored the importance of a distinct and well-defined investment strategy to stand out in the competitive market. Kheng leveraged her established network to attract high-profile investors, emphasizing the value of relationships cultivated over time. She recommends first-time fund managers tap into their existing networks, especially those who have financially benefited from past collaborations, as they often become key supporters during fundraising. Unlike her prior advisory roles where rejection felt indirect, leading as a general partner made setbacks personal, demanding strong emotional resilience. To maintain balance amidst the pressures of high-stakes investing, Kheng incorporates daily hot yoga, meditation, and the support of close friends into her routine.

Jeremy and Kheng also discussed how her personal identity has shifted over time, what it meant to turn away from the legal career ladder and what she likes about being a fund manager.

Watch, listen or read the full insight at https://www.bravesea.com/blog/kheng-lian-ho

Nonton, dengar atau baca wawasan lengkapnya di https://www.bravesea.com/blog/kheng-lian-ho-id

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Xem, nghe hoặc đọc toàn bộ thông tin chi tiết tại https://www.bravesea.com/blog/kheng-lian-ho-vn

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English: Spotify | YouTube | Apple Podcasts

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Shiyan Koh, Managing Partner of  Hustle Fund, and ​​Jeremy Au discussed:

1. Singapore Vetoes Allianz $4.4B Insurer Acquisition: They discussed the Singapore government’s veto of the NTUC Income and Allianz merger, primarily over concerns of an undisclosed plan for $2B capital withdrawal post-merger. This case illustrated the delicate balance required between pursuing financial strategies and adhering to a social mission, especially in a cooperative structure transitioning to a corporatized entity.

2. NTUC 1961 History & Income Cooperative Mandate: They expanded on the broader historical role of National Trade Unions Congress with the People’s Action Party since 1961, vs. the now-defunct leftist Singapore Association of Trade Unions (SATU). The central workers' union is the parent organization of NTUC Enterprise, which is a holding entity of multiple cooperatives and mission-based corporations like NTUC Fairprice (supermarkets), First Campus (childcare) and Income (insurance). They referenced analysis on other successful single-country insurer cooperatives benchmarks from former NTUC Enterprise & NTUC Income CEO Tan Suee Chieh.

3. Trump vs. Kamala Impact on Southeast Asia: Jeremy and Shiyan debated how the US election’s potential outcomes could lead to dramatically different White House policies on free trade, capital gains and China relations - leading to significant ripple effects on Singapore & Southeast Asia. This highlights the deep interconnectivity of American political decisions with regional economic outcomes.

Jeremy and Shiyan also touched on the impact of US interest rate cuts on global markets, the acceleration of Chinese companies entering Southeast Asia, and Singapore's higher number of work hours vs. America and the EU.

Watch, listen or read the full insight at https://www.bravesea.com/blog/singapore-vetoes-allianz-acquisition

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Xem, nghe hoặc đọc toàn bộ thông tin chi tiết tại https://www.bravesea.com/blog/singapore-vetoes-allianz-acquisition-vn

Get transcripts, startup resources & community discussions at www.bravesea.com

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LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Chinese: Spotify | YouTube | Apple Podcasts

Vietnamese: Spotify | YouTube | Apple Podcasts

Learn more about Nika.eco! Reach out to info@nika.eco if you are a geospatial data scientist or climate researcher who is interested to partner on a pilot or research opportunities

Gita Sjahrir, Head of Investment at BNI Ventures, and Jeremy Au discussed three main themes:

1. Prabowo & Gibran 59% Electoral Win: Gita shared the aftermath of Indonesia's election, highlighting Prabowo’s landslide victory in a 3-way contest. She delved into opposition voters' dismay and demonstrations in Jakarta, tempered by the fasting month which limited the extent of public protests. She also revealed that despite Gerindra's presidential candidates' landslide victory, the winning party's failure to secure a leading position in the legislature forecasts a complex political landscape and potential governance challenges. The percentage of voter blocks, Jokowi's moves on the Golkar party and division among major candidates underscored the evolving debate within the country’s electorate on the influence of political personas vs. party ideologies. She also highlighted Indonesia’s increased freedom of expression allowing for political discourse across social and mainstream media, in contrast with the Suharto era.

2. Quick Commerce Viability Debate: Gita discussed the sustainability and profitability challenges in quick commerce within markets like Indonesia, where lower GDP per capita and high capital burn rates demand significant model adjustments for viability. She noted that market size and consumer behavior emphasized the critical need for adapting quick commerce to align with the local population’s purchasing power and real needs, rather than replicating models from India and more affluent economies like USA and Europe. She also talked about the potential integration of quick commerce with traditional commerce, leveraging infrastructure to blend digital speed with physical market realities and focusing on areas like private label products for sustainability.

3. VC Accountability & Founder Dynamics: Jeremy and Gita delved into the accountability of VCs and the crucial role of frank discussions between VCs and founders. They underscored the importance of VCs being more than just financial backers by becoming genuine thought partners for founders. They critiqued the "negative blitzscaling" model in Southeast Asia, cautioning against scaling businesses with negative unit economics. They also emphasized that founders should scrutinize their growth strategies and prioritize sustainability over rapid expansion, highlighting the risks of scaling inefficiencies rather than solutions. They need to retain decision-making authority and evolve towards prioritizing long-term business viability and market relevance.

Jeremy and Gita also talked about the importance of political party financing transparency, the role of media in shaping public opinion post-election, the significance of recalibrating growth and scaling expectations for startups, and the evolution of e-commerce models in response to market demands.

Watch, listen or read the full insight at https://www.bravesea.com/blog/indonesia-electoral-win

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观看、收听或阅读全文，请访问 https://www.bravesea.com/blog/indonesia-electoral-win-cn

Get transcripts, startup resources & community discussions at www.bravesea.com

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LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Chinese: Spotify | YouTube | Apple Podcasts

Join the Singapore Growth & AI Summit with Sean Ellis! Use code seanbrave7 today.

Jeremy Au talked about the multifaceted nature of startup failures through insights from Professor Tom Eisenmann's book, "Why Startups Fail." He highlighted how startup failure is more common than people think, revealing that only 4% of companies were able to achieve 10x to 50x or higher returns. He discussed the six types of startup failures from the book: good idea, bad fellows, where a promising concept flounders due to team issues; false start, involving misjudged product-market fit; false positives, where early enthusiasm doesn't translate to broad market appeal; speed trap, depicting rapid growth that outpaces sustainable development; help wanted, indicating operational or strategic missteps in a growing company; and cascading miracles, which requires multiple, high-risk achievements for success. He underscored that learning from these failures can equip founders, investors, and operators with the knowledge to navigate the complex startup ecosystem more effectively.

Watch, listen or read the full insight in English at https://www.bravesea.com/blog/why-startups-fail

Saksikan, dengarkan atau baca wawasan lengkapnya dalam Bahasa Indonesia di https://www.bravesea.com/blog/why-startups-fail-id

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LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

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Join the Singapore Growth & AI Summit with Sean Ellis! Use code seanbrave7 today.

Justin Banusing, Cofounder & CEO of Clout Kitchen, and Jeremy Au talked about three main themes:

1. Philippines Gaming & ESports Boom: Justin shared that the Philippines, and by extension, Southeast Asia, has a vibrant gaming and esports ecosystem. He attributed this enthusiasm to the country's usage of mobile gaming and esports as both socialization and competitive engagement in the realities of an urbanizing emerging economy. Justin highlighted the "loading screen of commuting" (local challenging commute conditions) driving mobile gaming's popularity. He also delved into the symbiotic yet complex relationship between publishers, fans, third-party companies, and creators - and the inherent challenges and opportunities in monetizing and sustaining a viable niche within eSports in Southeast Asia.

2. Founding Communities & Startups: Justin shared his beginnings as a high school student passionate about gaming and organizing a Super Smash Brothers gaming tournament in a Chinese restaurant's back room. He went on to found AcadArena, the leading campus gaming startup that scaled to 250,000 verified students across Southeast Asia and Latin America. Justin talked about his commitment to building in the Philippines despite the allure of opportunities abroad, and his eventual decision to remain in the country to contribute to the growing startup ecosystem. He also highlighted the importance of taking risks and the potential for significant impact through building companies that address local needs and opportunities and encouraged others to dream big and pursue their passions with determination.

3. Content Creator Monetization & AI: Justin touched upon the potential of digital creators as the next generation of entertainment icons, and their broader evolution beyond gaming as a content vertical. He also discussed the hurdles they face, such as time constraints, scalability and earning more. He explained why he founded Clout Kitchen, an AI studio aimed at transforming content creators into interactive digital experiences, and highlighted their mission to facilitate deeper fan interactions with creators.

Jeremy and Justin also discussed the importance of aligning business ventures with personal missions, the impact of digital hobbies and gaming on the region’s youth, the socioeconomic factors influencing gaming habits in Southeast Asia, and the nuanced understanding of privilege in the startup ecosystem.

Watch, listen or read the full insight at https://www.bravesea.com/blog/justin-banusing

Nonton, dengar atau baca wawasan lengkapnya di https://www.bravesea.com/blog/justin-banusing-in

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TikTok: https://www.tiktok.com/@jeremyau

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LinkedIn: https://www.linkedin.com/company/bravesea

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Instagram: https://www.instagram.com/jeremyauz

Twitter: https://twitter.com/jeremyau

LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

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Chinese: Spotify | YouTube | Apple Podcasts

Join the Singapore Growth & AI Summit with Sean Ellis! Use code seanbrave7 today.

Shiyan Koh, Managing Partner of Hustle Fund, and ​​Jeremy Au talked about three main themes:

1. Taylor Swift $500M Singapore Economy Boost: Jeremy and Shiyan discussed the Singapore government’s strategic chess moves for Taylor Swift's concert exclusivity in Southeast Asia. They discussed the excellent return on investment of the $3M move for a $500M increase in Singapore’s tourism receipts, stimulating national GDP by 0.25% points for Q1 2024. They also discussed the regional competition for hosting such blockbuster events, along with the underappreciated aspects of the nationalization of the Singapore sports hub, travel logistics hub infrastructure and sensitivity to cultural norms.

2. Barbell Entertainment Blockbusters vs. Long Tail: Jeremy and Shiyan explored the Internet’s explosion of the content industry, leading to bimodal distribution, where both blockbuster events and niche content find substantial audiences thanks to the zero marginal cost of digital consumption - and the plunge in middle-tier content. They also discussed how generative AI will impact the shape of this barbell. They reference the book Blockbusters by Harvard professor Anita Elberse and The Long Tail by Chris Anderson.

3. City Talent Vortex & Industry Concentrations: Jeremy and Shiyan discussed the challenges and opportunities presented by talent concentrations. They discussed how cities become industry hubs, such as finance in Singapore, entertainment in LA and tech in SF, with a thought experiment on whether Southeast Asia could produce a global superstar like Taylor Swift. They stressed the structural and cultural factors that influence where talent flourishes, the role of national policy in nurturing ecosystems that can compete on the global stage, and how individual talented individuals should react.

Jeremy and Shiyan also talked about the social aspects of fasting vs. eating, the fan communities of avatar-driven Vtubers, and their personal preferences for content consumption like Dune by writer Frank Herbet vs. director Denis Villeneuve.

Watch, listen or read the full insight at https://www.bravesea.com/blog/taylor-swift-economics

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Get transcripts, startup resources & community discussions at www.bravesea.com

WhatsApp: https://whatsapp.com/channel/0029VakR55X6BIElUEvkN02e

TikTok: https://www.tiktok.com/@jeremyau

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Twitter: https://twitter.com/jeremyau

LinkedIn: https://www.linkedin.com/company/bravesea

TikTok: https://www.tiktok.com/@jeremyau

Instagram: https://www.instagram.com/jeremyauz

Twitter: https://twitter.com/jeremyau

LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Chinese: Spotify | YouTube | Apple Podcasts

Patrick McGinnis, VC & Creator of FOMO (Fear of Missing Out) Sapiens, and Jeremy Au talked about three main themes:

1. FOMO (Fear of Missing Out) vs. FOBO (Fear of Better Option): Patrick shared how he had created the terms FOMO and FOBO during his MBA student days at Harvard. He shared how he was surprised 10 years later that his lingo with friends had grown into globally recognized phenomena. These behavior patterns of overcommitment, indecisiveness and optionality maximization have been exacerbated by the endless choices and information overload facilitated by digital platforms, leading to widespread analysis paralysis and stress. He discusses why he thinks FOBO is less popular than FOMO due to its darker nature and more insightful lens into human decision-making.

2. Overcoming Career Paralysis: Patrick shared his personal journey from a career in venture capital to becoming an author, speaker, and entrepreneur. He shared how he had to have a heart rate monitor installed due to the high stress of his job that he fundamentally disliked, and the eventually lonely, painful and scary decision to take a career sabbatical and step outside the conventional path that would have been expected from a Harvard MBA graduate.

3. VC & Life Decision Frameworks: Patrick detailed his conscious effort to integrate strategies to combat FOMO and FOBO, sharing a framework for categorizing decisions (high stakes, low stakes, and no stakes) to streamline decision-making processes. Patrick shared his frustrations with the VC industry's incentive structures, including the challenges of decision-making in an environment rife with FOMO and FOBO. He emphasized the importance of discipline, due diligence, and being mindful of underlying motivations when making investment decisions. He also shared examples from his "FOMO folio" strategy to manage investment temptation.

He also discussed the societal shift towards constant comparison and indecision, strategies for combating decision fatigue, and why he's exploring coaching and building for the next stage of his career.

Watch, listen or read the full insight at https://www.bravesea.com/blog/patrick-mcginnis

Nonton, dengar atau baca wawasan lengkapnya di https://www.bravesea.com/blog/patrick-mcginnis-in

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Get transcripts, startup resources & community discussions at www.bravesea.com

WhatsApp: https://whatsapp.com/channel/0029VakR55X6BIElUEvkN02e

TikTok: https://www.tiktok.com/@jeremyau

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LinkedIn: https://www.linkedin.com/company/bravesea

TikTok: https://www.tiktok.com/@jeremyau

Instagram: https://www.instagram.com/jeremyauz

Twitter: https://twitter.com/jeremyau

LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Chinese: Spotify | YouTube | Apple Podcasts

Join the Singapore Growth & AI Summit with Sean Ellis! Use code seanbrave7 today.

Bernard Leong, Founder of Analyse Asia, and Jeremy Au talked about three main themes:

1. PhD to Serial Founder: Bernard talked about his initial career in academia, specializing in theoretical physics and obtaining his PhD in Astrophysics and Cosmology, before moving into machine learning at the Wellcome Trust Sanger Institute, home of the Human Genome Project. His entrepreneurial journey started with the co-founding of Chalkboard, a location-based advertising startup that faced strategic challenges and ended in a shutdown. He also co-founded SG Entrepreneurs, which successfully exited to Tech in Asia. He also shared his experiences heading digital transformation initiatives as a tech executive, such as his digital transformation leader at SingPost and pioneering Singapore's first-ever drone delivery.

2. Disrupting Extractive Enterprise Resource Planning (ERP) Systems: Bernard shared his vision for revolutionizing ERP systems to address the inefficiencies and high costs associated with traditional ERP software. He discussed the history of ERP systems and the challenges companies face, including high customization costs and the extractive nature of the consulting model associated with ERP implementation. Bernard aims to leverage generative AI technologies like ChatGPT and Microsoft CodePilot to create a next-generation open business operating system that is 10X more efficient, productive, and adaptable than current offerings. He discussed the reasons behind his focus on the medium segment of the small and medium enterprise market and counter-positioning strategy against existing ERP giants.

3. Startup vs. Family Career Decisions: Bernard compared the life of a serial entrepreneur to that of a football team manager, emphasizing the importance of taking each challenge as it comes. He discussed the practicalities of negotiating entrepreneurship with family responsibilities, highlighting the importance of financial planning, shared goals, and open communication with his wife who’s also an entrepreneur. He also discussed what repeat founders do differently than first-time founders, ranging across distribution, mindset and adaptability.

Jeremy and Bernard also touched on the "first love startup" problem, first-principles thinking, the people who bet against his success, and the future implications of AI in business. 

Watch, listen or read the full insight at https://www.bravesea.com/blog/bernard-leong

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TikTok: https://www.tiktok.com/@jeremyau

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LinkedIn: https://www.linkedin.com/company/bravesea

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Instagram: https://www.instagram.com/jeremyauz

Twitter: https://twitter.com/jeremyau

LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Chinese: Spotify | YouTube | Apple Podcasts

Join the Singapore Growth & AI Summit with Sean Ellis! Use code seanbrave7 today.

Valerie Vu, Founding Partner of Ansible Ventures, and Jeremy Au talked about three main themes:

1. China Tourism & Taylor Swift: Valerie shared the significant impact of Lunar New Year celebrations on Vietnam's work culture and economy, highlighting the extended holiday period shared with its neighbors like China and Singapore. She explored the potential economic benefits of reviving Chinese tourist numbers to pre-COVID levels, considering China's tourists historically accounted for a third of foreign visitors to Vietnam. They also discussed Taylor Swift's Singapore concert as a case study in tourism marketing.

2. Food Delivery Industry Economics: Jeremy and Valerie discussed the inherent challenges of the food delivery industry, characterized by low margins and, in many cases, negative profitability. They mentioned the failed negotiation between Foodpanda (under Delivery Hero) and Grab, highlighting the tough economic realities of the sector. Valerie also expressed her preference for ShopeeFood over Grab due to the smaller, local merchants, and "mom-and-pop" restaurants that the platform partners with. She also touched on the broader market dynamics, including the exit of other players like Bé Minh, the third-largest food delivery service, which left the Vietnamese market to focus on its primary market in South Korea.

3. Air Quality Pollution vs. Industrial Growth: Jeremy and Valerie talked about Vietnam’s economic benefits from its industrial sector, with the smartphone export growth of 16% year-on-year in January 2024. The economic boon comes at the cost of environmental degradation, with both Hanoi and Ho Chi Minh City respectively placing 3rd and 10th on alarming air quality index rankings. They explored potential strategies for addressing air quality such as temporarily halting industrial activities which China did around the 2008 Olympics to improve its air quality. They discussed the lack of substantial policy measures from the Vietnamese government to combat the air pollution problem partly due to the government's prioritization of economic growth through manufacturing, which is a key driver of Vietnam's GDP.

Jeremy and Valerie also talked about the influence of high-profile educational backgrounds like Harvard, Oxford and NUS on tech startups, environmental policy, and the impact of global cultural events on local economies.

Watch, listen or read the full insight at https://www.bravesea.com/blog/vietnam-air-pollution

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Get transcripts, startup resources & community discussions at www.bravesea.com

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TikTok: https://www.tiktok.com/@jeremyau

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Twitter: https://twitter.com/jeremyau

LinkedIn: https://www.linkedin.com/company/bravesea

TikTok: https://www.tiktok.com/@jeremyau

Instagram: https://www.instagram.com/jeremyauz

Twitter: https://twitter.com/jeremyau

LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

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Chinese: Spotify | YouTube | Apple Podcasts

Learn more about HDMall here: 

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Sean Ellis, Bestselling Author of “Hacking Growth”, and Jeremy Au talked about three main themes:

1. Growth Hacking Unicorn Successes: Despite not considering himself a "techie," he shared his transition from traditional marketing to growth hacking and helping five startups navigate to unicorn billion-dollar valuations. Sean discussed the strategic pivot of LogMeIn from a paid to a freemium model and thus innovating in pricing and distribution to capture market leadership and differentiate vs. well-funded competitors. He highlighted the lack of established language or tools for scaling companies with product-market fit during his early career and the difficulty in understanding the nuances of what makes products indispensable to users, which he later encapsulated in his book "Hacking Growth."

2. Achieving & Scaling Product-Market Fit: Sean emphasized that achieving product-market fit is a blend of art and science that necessitates deep market understanding, creativity, and rigorous validation. He stressed the critical role of targeted, domain-specific advice for startups and that generic advice lacks the impact of insights tailored to a startup's unique context. He also pointed out the importance of fair compensation for advisors, highlighting that those providing high-value, targeted advice leading to tangible outcomes deserve appropriate rewards.

3. Easy Money vs. Hard Times: Sean discussed bull & bear startup funding environments, from periods of easy money (startups become complacent and focus more on rapid growth at the expense of efficiency and long-term sustainability) to more challenging financial climates (which necessitates a disciplined approach to growth, spending, prioritizing efficiency and lean operations). He highlighted that companies that optimize resources and operations are best positioned for survival and growth regardless of funding availability.

Jeremy and Sean also talked about why large tech companies slow down at growth, the critical role of early-stage market validation, the importance of maintaining a growth-focused culture, and the strategies for sustaining momentum.

Watch, listen or read the full insight at https://www.bravesea.com/blog/sean-ellis

Nonton, dengar atau baca wawasan lengkapnya di https://www.bravesea.com/blog/sean-ellis-in

观看、收听或阅读全文，请访问 https://www.bravesea.com/blog/sean-ellis-cn

Get transcripts, startup resources & community discussions at www.bravesea.com

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Ameer Jumabhoy, Cofounder of Utu, and Jeremy Au talked about three main themes:

1. Revolutionizing Tourist Value-Added Tax Refund Industry: Ameer delved into the complexities of the VAT refund process, highlighting that tourists typically reclaim only a portion (i.e., getting only $65 from a $100 tax refund on a $500 purchase) due to high processing fees from numerous entities involved in the refund process. He shared Utu's $33M Series B fundraise and mission to enhance the tax-free shopping experience by maximizing the refund value for tourists through partnerships that benefit all stakeholders involved, including tourists, retailers, and the government.

2. Pandemic Hard Choices: Despite the severe impact on the travel and retail sectors, Utu made the humanitarian decision not to lay off any staff despite the significant financial and operational cost. He underscored the leadership's commitment to their team and the long-term vision without compromising on their values. Utu had to strategically follow the reopening of global tourism city by city and travel corridor by corridor, e.g. the UAE deciding to launch the World Expo in 2021. He also talked about their acquisition of CardsPal and the launch of new services aimed at providing greater rewards for travelers with their evolving post-pandemic consumer behavior.

3. Personal Resilience With Family: Ameer recounted his experiences navigating professional responsibilities alongside personal challenges during the pandemic. He detailed the decisions to move across countries for family and work, emphasizing the importance of support systems. He shared his thoughts on how parenthood had shaped his perspectives on leadership and entrepreneurship.

Jeremy and Ameer also talked about the rationale behind the current VAT refund system's inefficiencies, Utu’s future product roadmap, and the significance of cross-border shopping trends. 

Watch, listen or read the full insight at https://www.bravesea.com/blog/ameer-jumabhoy

Nonton, dengar atau baca wawasan lengkapnya di https://www.bravesea.com/blog/ameer-jumabhoy-in

观看、收听或阅读全文，请访问 https://www.bravesea.com/blog/ameer-jumabhoy-cn

Get transcripts, startup resources & community discussions at www.bravesea.com

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Learn more about HDMall here: 

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Gita Sjahrir, Head of Investment at BNI Ventures, and Jeremy Au discussed three main themes:

1. Prabowo Victory & Jokowi Legacy: Gita underscored Prabowo's dedication to further Jokowi's economic initiatives, notably the ambitious relocation of the capital from Jakarta to Nusantara to stimulate balanced development across the archipelago. A key focus was on mobilizing Gen Z voters, whose significant influence in the election underscores the necessity for clear political messaging tailored for this digitally savvy cohort accustomed to prolific social media engagement.

2. "Golden Indonesia 2045" GDP Vision: The discussion extended to the campaign goal of aiming to position Indonesia as a beacon of economic prosperity, with substantial enhancements in GDP per capita, human capital, and global competitiveness. Gita highlighted this vision as part of a larger ambition to elevate Indonesians' quality of life through superior education and self-fulfillment opportunities.

3. Middle-Income Trap & Societal Challenges: Addressing Indonesia's societal hurdles, including poverty and child stunting, was central to their conversation. Gita and Jeremy emphasized the imperative for growth strategies that not only extricate Indonesia from the middle-income quagmire but also champion equitable progress. The importance of nurturing an informed citizenry was also stressed, to ensure a populace that recognizes its civic responsibilities and the consequential nature of their voting actions.

Jeremy and Gita also talked about the significance of legislative checks and balances, the role of foreign policy in shaping the country’s international relations, Singapore's view of the Indonesia electoral outcome and the importance of comprehensive educational reforms.

Watch, listen or read the full insight at https://www.bravesea.com/blog/golden-indonesia-2045

Nonton, dengar atau baca wawasan lengkapnya di https://www.bravesea.com/blog/golden-indonesia-2045-in

Get transcripts, startup resources & community discussions at www.bravesea.com

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English: Spotify | YouTube | Apple Podcasts

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Jeremy Au breaks down the "David vs. Goliath" dynamics of startups challenging industry giants. Startups face unique marketing challenges but can thrive by focusing on experimentation and innovation, creating entirely new market categories. Just like the rise of oat milk and nicotine vapes, disruptive marketing turned once-unknown products into billion-dollar industries. He covers the case study of Southeast Asian unicorns Grab and Gojek who leveraged their agility to outmaneuver Uber and local taxi fleets in Singapore and Indonesia.

Watch, listen or read the full insight at https://www.bravesea.com/blog/david-vs-goliath

Nonton, dengar atau baca wawasan lengkapnya di https://www.bravesea.com/blog/david-vs-goliath-id

观看、收听或阅读全文，请访问 https://www.bravesea.com/blog/david-vs-goliath-cn

Xem, nghe hoặc đọc toàn bộ thông tin chi tiết tại https://www.bravesea.com/blog/david-vs-goliath-vn

Get transcripts, startup resources & community discussions at www.bravesea.com

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Learn more about Nika.eco! Reach out to info@nika.eco if you are a geospatial data scientist or climate researcher who is interested to partner on a pilot or research opportunities

David Zhou, Writer of Cup of Zhou & Head of Investor Relations at Alchemist Accelerator, and Jeremy Au talked about three main themes:

1. Silicon Valley Thought Leadership: David shared his journey from being a shy introvert to becoming a thought leader in the LP & VC space. He talked about his early exposure to entrepreneurship through his father's ventures that laid the groundwork for his ambitious career. Berkeley SkyDeck and On Deck catalyzed his transition to guide investments, advise, and help both startups and emerging fund managers. He underscores the power of personal growth and how his varied experiences enriched his understanding of venture capital, culminating in his current focus on LP decision-making.

2. On Deck Community Building: David discussed how his On Deck tenure offered valuable lessons on nurturing talent communities, intentional design and fostering a culture of innovation, speed & aggression. He also talked about his reflections on how communities shifted before, during and after the pandemic due to communication platforms. He also reflected on what it takes to make the transition from passive content consumption to active knowledge creation.

3. Emerging LP Investing in VCs: David delved into the multifaceted realm of fund investing, from the perspectives of both LPs and VC managers. He also shared about how the term “Emerging LP” was coined by Andrew Gluck from IrrvrntVC. He shared insights into the motivations and considerations for Limited Partners (LPs) within the ecosystem, alongside the strategic thought processes fund managers should employ. He also talked about his journey from being a content creator to an LP, the evolving nature of investment strategies, and the importance of continuous learning and knowledge sharing.

Jeremy and David also touched on his strategic cadence to cold emailing, maintaining consistent writing and publishing discipline, and the symbiotic relationship between technology and human engagement. 

Watch, listen or read the full insight at https://www.bravesea.com/blog/david-zhou

Nonton, dengar atau baca wawasan lengkapnya di https://www.bravesea.com/blog/david-zhou-id

Get transcripts, startup resources & community discussions at www.bravesea.com

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Learn more about HDMall here: 

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Sao Lonsdale, CEO & Founder of LIXIBOX, and Jeremy Au discussed three main themes:

1. “Fish In The Water” Journey: Sao shared about her family experience growing up in a military compound in front of the Hồ Chí Minh Mausoleum. Feeling the desire to explore, she moved to the U.S. as a teenager and found herself embracing new communities and cultural experiences. She also discussed how she was inspired by Peter Thiel's "Zero to One" book to eventually leave behind her US corporate career to return to Vietnam and launch a new venture.

2. Vietnam Gen Z Consumers: Sao highlighted the generational shift with the aspirational Gen Z, who never experienced the wars with the US, France and China, and are thus focused on building better lives. She noted the significant impact of TikTok, Instagram and local social media platforms on the retail landscape, as well as the growing consumer demand for personalized and niche products.

3. LIXIBOX Founder Pivots: Sao highlighted the initial market landscape that Lixibox had entered into, and how the startup had to rapidly pivot every six months in response to the swiftly changing Vietnam market (consumer behavior, market trends and platform shifts). She shared about the difference between high-end and mass-market brands, and what it takes to build a strong omnichannel presence that sells both in-house and partner brands' products online and offline.

Jeremy and Sao also talked about reverse culture shock, the impact of professional executive coaches, and her own personal skincare routine. 

Watch, listen or read the full insight in English at https://www.bravesea.com/blog/sao-lonsdale

Saksikan, dengarkan atau baca wawasan lengkapnya dalam Bahasa Indonesia di https://www.bravesea.com/blog/sao-lonsdale-id

Get transcripts, startup resources & community discussions at www.bravesea.com

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English: Spotify | YouTube | Apple Podcasts

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Learn more about HDMall here: 

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Dmitry Levit, General Partner of Cento Ventures, Shiyan Koh, Managing Partner of Hustle Fund, and Jeremy Au talked about three main themes:

1. 2023 vs. 2024 Investment Landscape: Dmitry, Shiyan and Jeremy discussed the Cento Southeast Asia Tech 2023H1 report and noted the discrepancy between the economic doom perception in the media and the reality of Southeast Asia’s funding numbers. Dmitry pointed out a "reset" in investment activity, with stable "core early funding stack" (Seed to Series A/B) maintaining momentum while later-stage growth deals significantly decreased. This bifurcation reflects a broader trend of cautious optimism among early-stage investors and a recalibration of expectations among late-stage financiers. They also underscored the importance of understanding these two parallel ecosystems for founders and investors alike, suggesting that strategies need to be adjusted depending on the stage of investment.

2. $9B Annual Capital Intake & Realistic Exit Expectations: Dmitry Levit observed that the long-term average capital intake for the region averages around $9 billion. He highlighted that prudent exit expectations in Southeast Asia should consider $100 million exits as very good, with exceptional cases potentially exceeding $250 million, and added further details on the growth rate. He emphasized the importance of disciplined fund strategies across IPO, trade sales, and secondaries.

3. Overreaction, Dislocation & Confusion: They discussed the fog of war in the region’s tech ecosystem driven by global economic pressures, media hype and doom cycles, and changing investment flows. Missed opportunities, strategy-market misalignments, and pressure on value-creation teams are currently being sorted out. They discussed how founders and investors need to urgently align their growth and exit strategies with the region’s market's realities. They also talked about the time lag of news absorption across the Vietnam ecosystem and how the search for the next "Indonesia" story is on pause.

Dmitry, Shiyan and Jeremy also talked about the role of perception vs. reality in shaping investment strategies, the challenges for the multi-country expansion narrative, and the "small-cap private equity without leverage" VC theme in play.

Watch, listen or read the full insight in English at https://www.bravesea.com/blog/overreaction-dislocation-confusion

Saksikan, dengarkan atau baca wawasan lengkapnya dalam Bahasa Indonesia di https://www.bravesea.com/blog/overreaction-dislocation-confusion-id

Get transcripts, startup resources & community discussions at www.bravesea.com

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LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

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Learn more about HDMall here: 

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Jeremy delves into the midlife crisis, distinguishing between dramatic Hollywood portrayals (fast cars, alcohol and irresponsibility) and the quieter, introspective reality many face. Coined by psychoanalyst Elliott Jaques in 1965, the midlife crisis is driven by the realization of mortality, sense of past limitations and the desire for change. Referencing psychologist Abraham Maslow's "hierarchy of needs" pyramid, he emphasizes the underlying foundational shift that people experience as they mature from deficiency "lack" motivators towards personal growth motivators. Beethoven suffered deafness in his mid-30s, and went on to compose his greatest musical works. Mike Posner at the age of 36 overcame his "I Took A Pill In Ibiza" days to redefine himself beyond his fame towards a more fulfilling personal life. Jeremy reframes the midlife crisis from a feared stagnation surrounded by community disapproval, towards a pivotal moment for growth, discovery and self-actualization.

Watch, listen or read the full insight in English at https://www.bravesea.com/blog/midlife-crisis

Saksikan, dengarkan atau baca wawasan lengkapnya dalam Bahasa Indonesia di https://www.bravesea.com/blog/midlife-crisis-id

Get transcripts, startup resources & community discussions at www.bravesea.com

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English: Spotify | YouTube | Apple Podcasts

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Learn more about HDMall here: 

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Rachel Wong, startup lawyer & Founder of Founders Doc, and Jeremy Au discussed three main topics:

1. Law ChatGPT AI Revolution: Rachel discussed how ChatGPT is revolutionizing the legal profession and changing the way lawyers interact with clients and how they draft and amend legal documents. Rachel explained the significance of legal AI companies, such as Litera, in enhancing the efficiency of drafting processes for lawyers by clearly understanding and addressing their specific needs.

2. Bastardized Y Combinator Safe Agreement: Rachel delved into the complexities of the Y Combinator (YC) Safe Agreement and its impact from various perspectives including economic and control rights. She discussed the maladaptation of the Safe Agreement over time in response to economic shifts and the dynamics of negotiation power between startups and investors.

3. Founder Legal Templates: Rachel noticed increased demand by clients using online templates and AI for legal document amendments. They have launched FD Lite, a platform designed to make legal documents more accessible and affordable, especially for startups in the early stages of fundraising.

Jeremy and Rachel also covered the regulatory hurdles for legal entrepreneurs, increasing defensive specialization vs. commoditization within the legal sector, the expanding role of in-house legal teams, and the importance of making legal documents understandable to non-lawyers.

Watch, listen or read the full insight at https://www.bravesea.com/blog/rachel-wong-2

Get transcripts, startup resources & community discussions at www.bravesea.com

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English: Spotify | YouTube | Apple Podcasts

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Learn more about HDMall here: 

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In this discussion, Shiyan Koh, Managing Partner of Hustle Fund, and ​​Jeremy Au talked about three main themes:

1. Founders Reviewing VCs: Shiyan reflected on founders conducting due diligence on their funding sources. They discuss the value (and further improvements) of public reference lists like TechinAsia’s Glasswall which indexes the fundraising process, and how founders should seek private feedback from (post-fundraise) portfolio companies.

2. Startup Fraud Triangle: Jeremy and Shiyan examined the darker side of the regional startup culture, including fraudulent accounting trends and their impact on the local funding ecosystem. They agree that while most founders don't set out to defraud, poor decisions under pressure can take the opportunity to conduct unethical actions.

3. Difficult Wind-Down Decisions: The vast majority of startups fail to meet expectations after substantial fundraising. Shiyan shared the rarity but reputational importance of attempting to return capital to investors when a pivot isn't feasible. She advises founders to treat investors with respect during wind-downs, as the startup industry is a "repeated game" where one's actions can influence future opportunities.

They also talked about the emotional toll of admitting failure, potential for biased VC reviews, and the societal role of media in reporting startup successes and failures.

Watch, listen or read the full insight at https://www.bravesea.com/blog/founders-reviewing-vcs

Get transcripts, startup resources & community discussions at www.bravesea.com

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LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

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Learn more about HDMall here: 

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Nir Eyal, Wall Street Journal bestselling author of “Hooked” and "Indistractable”, and Jeremy Au talked about three main themes:

1. Save Your New Year Resolutions: Nir discussed the nature of January 1 resolutions and the high rate of people abandoning their goals. He attributed this to a warped ecosystem of advice that fails to address the root causes of behavioral stagnation. He emphasized the importance of reconstructing routines to foster consistency, which is essential for rejuvenating lost aspirations. He advised to be thoughtful about the systemic approach to personal growth, rather than relying on transient motivations or flawed self-help strategies.

2. Misleading Weight Loss Industry: Nir took a critical look at the health and fitness industry, highlighting the ambiguity and often misleading information surrounding weight loss and exercise. He pointed out the vested interests in maintaining a level of confusion among consumers, with examples ranging from meal bars to dietary supplements. He advocated for debunking the quick-fix myths propagated by the fitness industry and a focus on the fundamentals: nutrition, regular exercise, and the importance of social connections.

3. Personal Health Transformation: Nir shared his personal transformation from being clinically obese to achieving fitness at the age of 46, highlighting his passions for surfing and running barefoot as key elements of his fitness regime. He also discussed his experiments with different activities, including the reasons why swimming and trampolining did not work for him and offered a personal perspective on finding joy in exercise and the trial-and-error process of discovering what works for individual fitness goals.

Jeremy and Nir also touched upon the broader implications of technology in facilitating behavioral change, the psychological challenges associated with dieting and exercise, and the role of community and social support in sustaining healthful habits.

Watch, listen or read the full insight at https://www.bravesea.com/blog/sustainable-health-habits

Get transcripts, startup resources & community discussions at www.bravesea.com

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TikTok: https://www.tiktok.com/@jeremyau

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LinkedIn: https://www.linkedin.com/company/bravesea

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Instagram: https://www.instagram.com/jeremyauz

Twitter: https://twitter.com/jeremyau

LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Learn more about HDMall here: 

https://www.hdmall.co.th

https://www.hdmall.id

Trasy Lou, Cofounder & CEO of Fluid, and Jeremy Au discussed three main topics:

1. Uber & Atome GM Launching Markets: Trasy highlighted the mission-driven culture at Uber, the importance of data-driven decision-making, and the autonomy she had as a GM. Her time as GM at two growth-stage startups exemplified the resilience required to lead teams towards a shared mission. She also discussed the unique challenges of market launching, emphasizing the value of playbook sharing across countries to avoid reinventing the wheel and accelerate growth. Key insights included setting stretch goals, hiring for potential, and fostering a flat organizational structure for open communication

2. Fintech Founder Learnings: Trasy discussed how she founded Fluid, a flexible financing solution for B2B purchases, amidst a funding winter. She outlined the challenges and learning curves associated with fundraising and starting a fintech startup during economically tough times. She dispelled common misconceptions about fintech, specifically the differences between consumer and B2B fintech solutions. She also gave her advice on fundraising, highlighting the need for preparation and strategic timing.

3. Balancing Motherhood & Entrepreneurship: Trasy shared her personal journey of balancing the roles of a GM, founder, and mother. Her experiences during critical moments at Uber, including having her water break during a conference call, underscored the underestimated strength of women in leadership positions. She emphasized the importance of support systems, both within organizations and at home, for successful entrepreneurship and parenthood.

Jeremy and Trasy also talked about scaling across different geographies, hiring for potential to build effective teams, and securing debt facilities in fintech.

Watch, listen or read the full insight at https://www.bravesea.com/blog/trasy-lou

Get transcripts, startup resources & community discussions at www.bravesea.com

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Instagram: https://www.instagram.com/jeremyauz

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LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Learn more about HDMall here: 

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Shiyan Koh, Managing Partner of Hustle Fund, and ​​Jeremy Au covered three main topics:

1. Sovereign Wealth Fund Investment Shifts: Jeremy and Shiyan talked about how GIC conservatively deployed 46% less capital in 2023, and Temasek 53%. Saudi Arabia’s Public Investment Fund (PIF) deployed $31.6 billion in 2023, 53% higher than the $20.7 billion it invested the previous year - alongside other Gulf funds. This is due to high oil prices, investment mandates and national strategies to diversify their economies away from energy dependence.

2. Unicorn Silicon Box: Jeremy and Shiyan discussed Silicon Box (Singapore's latest unicorn), their veteran leadership and $2 billion Tampines facility build-out. They highlighted its role in the shifting landscape of semiconductor manufacturing in Southeast Asia and its implications for the region’s economic growth.

3. TheAsianParent Acquisition of Motherswork: Jeremy and Shiyan touched on the parenting platform’s strategy to expand from its digital roots into omnichannel physical retail. They also talked about the challenges brought by declining birth rates in several Asian economies, the dynamics of education, and national fertility & family policies.

They also touched on Noah Smith (Noahpinion with 139,000+ subscribers) wanting to work for Jacqueline Poh of Singapore's EDB (at the same managerial level as Patrick Collision of Stripe), and the reasons behind the interest in parenting startups in Southeast Asia, spanning services across childcare, IVF and egg freezing.

Watch, listen or read the full insight at https://www.bravesea.com/blog/fund-investment-shifts

Get transcripts, startup resources & community discussions at www.bravesea.com

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Jeremy Au discussed the psychological impact of unemployment and its deep-seated effects on self-identity. Society often equates jobs with utility, and thus the determination of personal self-worth. Jeremy emphasized the importance of distinguishing between economic value and an individual's quest for purpose - beyond a series of professional achievements. He used examples from Viktor Frankl's "Man's Search for Meaning” (a psychiatrist's memoir of surviving Nazi concentration camps) and Walter Kiechel's "Lords of Strategy" (Bruce Henderson bragged that he had been fired from all of his prior jobs prior to founding Boston Consulting Group (BCG)).

Watch, listen or read the full insight at https://www.bravesea.com/blog/jobless-useless-meaningless

Get transcripts, startup resources & community discussions at www.bravesea.com

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English: Spotify | YouTube | Apple Podcasts

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Learn more about HDMall here: 

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Michael Chua, Award-Winning Actor, and Jeremy Au discussed:

1. Consultant to Award-Winning Actor at Age 50: Michael had a a long and successful career as a technology consultant traveling across Europe. At the age of 50, he was talent-scouted through a Facebook photo to become an actor. His curiosity exploring a new creative field quickly blossomed into a successful career, with over 400 acting credits and several awards, including Best Actor and Best Film at the Singapore International Film Festival. He shared his experience learning to act in films like Ilo Ilo which won the prestigious Camera d'Or award at the 2013 Cannes Film Festival and the 50th Golden Horse Awards in 2014. He also discussed his experience acting in popular YouTube shows like Titan Academy led by JianHao (7.5 million subscribers).

2. AI Disrupting Filmmaking: Michael spoke about AI’s productivity improvements, e.g. LED backdrops replacing traditional green screens and automating processes such as color grading and sound editing. However, he emphasized that AI avatars of actors are truly disruptive, which raises the bar for all human actors. He warned that mid-tier actors who can't convincingly convey emotion may be replaced by AI, while top-tier performers will continue to thrive as their unique human qualities become more valuable. He also reflected on how the need for authenticity in performances becomes even more critical in the director’s role, especially in a world increasingly swamped by AI-generated content.

3. Climbing the 'Third Mountain': Michael described his transition from consulting to acting as climbing the "second mountain" and to directing as the most difficult "third mountain." Directing requires a broader skill set, balancing logistics with creative vision. His earlier career in technology consulting prepared him for this, giving him the ability to manage large, complex projects. As a director, he now oversees not just the actors but also the entire production, from lighting and sound to camera work and set design. Michael is determined to create films that resonate deeply with audiences while balancing the technical complexities of filmmaking.

Jeremy and Michael also talked about the pressures of privacy that come with being a public figure, the difference between influencers and actors, and the pros and cons of staying in Southeast Asia to tell culturally specific stories (vs. moving to Hollywood).

Watch, listen or read the full insight at https://www.bravesea.com/blog/michael-chua

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Get transcripts, startup resources & community discussions at www.bravesea.com

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English: Spotify | YouTube | Apple Podcasts

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Learn more about Nika.eco! Reach out to info@nika.eco if you are a geospatial data scientist or climate researcher who is interested to partner on a pilot or research opportunities

Ajay Bulusu, Cofounder of NextBillion.ai, and Jeremy Au discussed three key topics:

1. Google & Grab Mapping Challenges: Ajay shared his mapping build-out at Google and Grab that had overcome geographic and infrastructural challenges in Southeast Asia - where standardization of data and addressing systems differ significantly from Western norms. He described how the team approached the problem with measures such as prioritizing high-traffic areas, leveraging data-driven strategies, testing machine learning, and crowdsourcing.

2. Geospatial B2B API SaaS Insights: Ajay delved into the complexities of developing a mapping technology stack and the balance between in-house development and outsourcing. He also shared the decision-making process companies face when choosing to build or buy.

3. Layoff Resilience with Bold Steps: Ajay recounted his personal story of resilience, particularly after being laid off from Google. He highlighted the significance of taking bold steps in challenging situations, like reaching out to the governor of California for help with his green card.

Jeremy and Ajay also talked about the role of technology in transportation and logistics, the evolution of the mapping industry, and B2B customer education strategies.

Watch, listen or read the full insight at https://www.bravesea.com/blog/ajay-bulusu

Get transcripts, startup resources & community discussions at www.bravesea.com

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English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Learn more about HDMall here: 

htps://www.hdmall.co.th

https://www.hdmall.id

​​Gita Sjahrir, Head of Investment at BNI Ventures, and Jeremy Au discussed three main topics:

1. 2023 Bear Market Reflections: Jeremy and Gita touched on the local startup market downturn, the importance of sticking to business fundamentals and good corporate governance to navigate economic headwinds, and how VCs have to build trust with founders.

2. Indonesia Young Democracy: Gita walked through Indonesia’s relatively new electoral system, the negotiations process post the election, and the significance in shaping policy. She also touched on the young age of political parties and emphasized the increasing cooperation between the public and private sectors post-1998.

3. Gen Z & Millennial Electorate Majority: Gita shared her observations about Gen Z in Indonesia, noting their active involvement in politics and public service, idealism, and significant role in addressing environmental and inequality issues. She highlighted the differences and similarities between Indonesian Gen Z and their global counterparts, emphasizing their active engagement in the political discourse through modern communication mediums like short-form video like TikTok and Instagram Reels.

Jeremy and Gita also reviewed the evolution of democracies in Southeast Asia, the nuances of Indonesian politics, and the significance of party affiliations.

Watch, listen or read the full insight at https://www.bravesea.com/blog/indonesia-young-democracy

Get transcripts, startup resources & community discussions at www.bravesea.com

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English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Learn more about HDMall here: 

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Jeremy discusses the stories that we tell ourselves, we tell others, and others tell about us. He contrasts Anthony Bourdain's self-descriptions in the travelogue "Parts Unknown," the posthumous Netflix documentary "Roadrunner" and the unauthorized biography "Down and Out in Paradise," ("I hate my fans. I hate being famous. I hate my job. I am lonely and living in constant uncertainty.") as well as the comedian Ali Wong's "Dear Girls" autobiography on family and her eventual divorce. He explained what consumers would gain from becoming more aware of the incentives behind self-representation vs. external narratives, the process of media gatekeeping, and society's hunger for heroes rather than imperfect humans. 

Watch, listen or read the full insight at https://www.bravesea.com/blog/hunger-for-heroes

Get transcripts, startup resources & community discussions at www.bravesea.com

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English: Spotify | YouTube | Apple Podcasts

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Learn more about HDMall here: 

htps://www.hdmall.co.th

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Aaron Fu, VC at Digital Currency Group, and Jeremy Au talked about three main themes:

1. Venture Capital Mission: Aaron narrated his decisions to focus on fintech, venture capital, and emerging markets. He emphasized the importance of aligning professional choices with his personal values, and how investing as a career lets him help build the future

2. Africa Market Complexity: Aaron dissected the multiple frames of Africa's market, across country, city and vertical. He compared accessibility, infrastructural development, and political stability, with examples of how government regulations and competition with local telecommunications companies shape the practical business reality for emerging startups.

3. Terrorism Tragedy & Risk: Aaron shared about the tragic loss of a friend and colleague in a terrorist attack in Nairobi, Kenya. He discussed the real dangers of operating on the ground, and also the sense of purpose in building a better future for the next generation in Africa.

Jeremy and Aaron also talked about the impact of digital transformation, the evolution of consumer behavior, and the significance of building sustainable business models.

Watch, listen or read the full insight at https://www.bravesea.com/blog/aaron-fu

Get transcripts, startup resources & community discussions at www.bravesea.com

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LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Learn more about Hive Health here: https://www.ourhivehealth.com

Valerie Vu, Founding Partner of Ansible Ventures, and Jeremy Au talked about three main topics:

1. 2023 Vietnam GDP Growth Underperformance: Valerie Vu reflected on the challenges faced by Vietnam’s economy in 2023, including 2023's GDP growth of 5.1% being lower than the government target of 6.5%. They discussed root causes such as the global economic slowdown, slowing imports, US interest rates, inflation, Vietnam's domestic anti-corruption campaign, and intertwined local real estate turmoil and credit crunch.

2. 2024 Vietnam Economy Forecast: Valerie shared her optimistic outlook for Vietnam's economy in 2024 with her expectation that the government will implement stimulus measures and improve policies to achieve a 6 to 6.5% GDP growth target. She believes that this is driven by the upcoming 2026 14th National Congress as well as the the continued shift from traditional industries to technology-intensive sectors, particularly semiconductors and software. She also emphasized Vietnam's transition from 'Made in Vietnam' to 'Make in Vietnam', signifying a new industrial policy push to move up the production value chain (as Singapore had done in the 1970s).

3. US & China "Love Triangle": They discussed President Joe Biden and President Xi Jinping's 2023 diplomatic visits to Vietnam and how Western and Chinese media portrayed Vietnam's relationship with US and China. Valerie shared how the Vietnam government is focused on technology deals with the US, and infrastructure with China - and which country they are most aligned with.

Jeremy and Valerie also discussed the role of foreign direct investment (FDI) in the economy, Vietnamese youth’s passion for entrepreneurship, and the significance of educational reforms in fostering innovation.

Watch, listen or read the full insight at https://www.bravesea.com/blog/us-china-love-triangle

Get transcripts, startup resources & community discussions at www.bravesea.com

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LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Learn more about Hive Health here: https://www.ourhivehealth.com

Jeremy discusses the rise of "Misery Poker" where people are increasingly incentivized to competitively share personal hardships. The natural human desire for social validation and the cultural shift towards authenticity intersects with declining community support structures, social media engagement algorithms and the commercialization of para-social relationships. He addresses the societal implications and how genuine empathy, intentional community building, and mindful social media engagement can be a path forward.

Watch, listen or read the full insight at https://www.bravesea.com/blog/misery-poker

Get transcripts, startup resources & community discussions at www.bravesea.com

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English: Spotify | YouTube | Apple Podcasts

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Learn more about Hive Health here: https://www.ourhivehealth.com

Henry Motte-de la Motte, Founder & CEO of Edge Tutor, and Jeremy Au discussed three main topics:

1. Personal Passion For Learning: Henry shared his background as an introverted child moving frequently due to his father's job. His personal exposure to multiple educational systems inspired him to later build two education tech startups to help nurture the next generation both in the Philippines and globally.

2. Standardized Testing Debate vs. True Life Skills: Henry debated the role of standardized testing - advocating for its continuation but also recommending expansion to include more relevant 21st-century skills. He discussed the need for further educational reform with the aid of technology and an eye on the jobs of the future.

3. Education Startup Challenges & Gritty Reality: Henry spoke about the idealism prevalent in the education sector, the challenge of multi-stakeholder sales dynamics and the consequences of the pandemic-driven remote learning movement. He reflected on his personal growth as a founder operating across multiple countries and educational systems.

Jeremy and Henry also touched upon topics like the pivotal influence of government policies in education, the future of AI in learning, and the challenges of innovating within a traditional industry like education.

Watch, listen or read the full insight at https://www.bravesea.com/blog/henry-motte-de-la-motte

Get transcripts, startup resources & community discussions at www.bravesea.com

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LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Learn more about Hive Health here: https://www.ourhivehealth.com

Shiyan Koh, Managing Partner of Hustle Fund, and Jeremy Au talked about three main themes:

1. Podcast Hosting Gratitude: Jeremy and Shiyan reviewed their year-long journey of podcasting covering Southeast Asia tech. They reflected on the growth, challenges, and rich interactions they've had with their audience, and shared their appreciation for each other.

2. 2023 Startups & VC Bear Market: Jeremy and Shiyan recapped the challenges that regional startups, especially in later stages, faced in adapting to the bear funding landscape of 2023. Beyond founder mindset changes, they touched on the importance for VCs to conduct structural reflections on their investment decisions (both successes and failures) and the challenges due to the different incentives and lifecycles for junior and senior investors.

3. 2024 Southeast Asia Tech Predictions: Jeremy and Shiyan shared their predictions for 2024 such as the continued bear market challenges for later-stage companies that need to thus grow more to justify their bull-market valuations and/or conduct significant cuts. They view the press to be a lagging signal of these impending decisions. They also predicted deeper press and LP scrutiny on regional VC's individual investments (business models, operational efficiency and bottom-line sustainability). They also raised the upcoming political inflection points (and thus confluence) for the 2024 elections of Taiwan, USA, Indonesia and India.

They also talked about the significance of understanding unit economics for startups, the understated role of customer selection in business success, and the importance of understanding the multi-factorial causes of failure in the VC process.

Watch, listen or read the full insight at https://www.bravesea.com/blog/2024-tech-forecast

Get transcripts, startup resources & community discussions at www.bravesea.com

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LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

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Learn more about Hive Health here: https://www.ourhivehealth.com

Jeremy reflects on his 20s with the "hustle and grind" mindset during army, Bain consultant, and founder days. He pushed the limits of his body with a "macho man" mentality with all-nighters, eating poorly, and bad lifestyle choices. Turning 36 years old, discovering a severe vitamin D deficiency, and becoming a dad changed his mindset towards "health is wealth." Perseverance "mind over matter" is actually an output function of a healthy and integrated human biological system which requires focus and self-care.

Watch, listen or read the full insight at https://www.bravesea.com/blog/health-vs-success

Get transcripts, startup resources & community discussions at www.bravesea.com

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English: Spotify | YouTube | Apple Podcasts

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Learn more about Hive Health here: https://www.ourhivehealth.com

Carlo Chen-Delantar, Founding Partner of Gobi-Core Philippine Fund & Head of ESG at Gobi Partners, and Jeremy Au talked about three main themes:

1. Career Journey from Social Impact to VC: Carlo shared his journey from a family of entrepreneurs in the Philippines to his work in the nonprofit sector, focusing on social impact and clean water access. His transition to venture capital was unplanned, influenced by the realization of the potential impact through technology and capital allocation.

2. Gobi & Alibaba Philippines Startup Report: Carlo discussed the burgeoning startup landscape, the importance of understanding the local ecosystem, the role of technology in economic and social progress, and the challenges and opportunities for startups. He emphasized the structural and policy need to improve the ease of doing business and the attraction, retention, and training of talent across the country.

3. Emerging Markets Iron Triangle: Carlo explained the concept of the "Iron Triangle" in emerging markets (fintech, e-commerce & logistics). He shared specific FinTech opportunities and emphasized the significance of national ID systems and growth opportunities (in sectors like health tech and gaming) fueled by the young and digitally savvy.

Jeremy and Carlo also discussed the challenges of doing business, the cost of brain drain, government policies affecting startups, and the importance of inclusive development across different regions of the Philippines.

WhatsApp: https://whatsapp.com/channel/0029VakR55X6BIElUEvkN02e

Get transcripts, startup resources & community discussions at www.bravesea.com

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English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Learn more about Hive Health here: https://www.ourhivehealth.com

Jianggan Li, Founder & CEO of Momentum Works, and Jeremy Au discussed:

1. US$1.1 Trillion Monetary Stimulus: Jianggan and Jeremy examined China’s recent monetary measures (equivalent to 6% of nominal GDP) boosting consumer confidence and stabilizing the housing and stock markets. The Politburo launched a $114 billion lending pool to support stock buybacks by asset managers and insurers, lowered the policy interest rate by 0.2% and reduced mortgage interest rates by 0.5%. They speculated that fiscal stimulus, including broader consumption voucher programs like the $72 million initiative in Shanghai, is likely to follow. These efforts are intended to stabilize China’s real estate market and restore confidence after a prolonged period of economic slowdown.

2. Temu & Shein vs. USA De Minimis Tariffs: They focused on the de minimis rule, which currently allows imports under $800 to enter the US tariff-free. Jianggan explained how Chinese platforms like Temu (Pinduoduo) and Shein have benefited from this loophole by shipping small goods directly to American consumers. The Biden administration’s efforts to close this loophole will harm low-income American consumers, reducing welfare benefits by $12-14 billion USD. Chinese exporters, particularly smaller ones, may also face challenges, though large platforms are adapting by increasing inventory stored in the US to mitigate this new tariff.

3. YouTube & Shopee Anti-TikTok Shop Alliance: They discussed China’s growing influence on Southeast Asia’s cross-border trade, with Vietnam emerging as a key hub for Chinese companies. Warehouses along the Vietnam-China border are facilitating live-stream sales directly to Vietnamese consumers. Additionally, the conversation touched on YouTube’s partnership with Shopee, which is seen as a strategic move to counter TikTok Shop. This partnership is expected to expand across Southeast Asia, with Indonesia positioned as a critical battleground in the e-commerce space.

Jeremy and Jianggan also touched on other relevant topics, including the impact of US interest rate cuts on global markets, the role of the Chinese Yuan in export competitiveness, and Vietnam’s strategy to navigating the USA-China rivalry.

Watch, listen or read the full insight at https://www.bravesea.com/blog/china-monetary-stimulus

Nonton, dengar atau baca wawasan lengkapnya di https://www.bravesea.com/blog/china-monetary-stimulus-id

观看、收听或阅读全文，请访问 https://www.bravesea.com/blog/china-monetary-stimulus-cn

Xem, nghe hoặc đọc toàn bộ thông tin chi tiết tại https://www.bravesea.com/blog/china-monetary-stimulus-vn

Get transcripts, startup resources & community discussions at www.bravesea.com

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LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Chinese: Spotify | YouTube | Apple Podcasts

Vietnamese: Spotify | YouTube | Apple Podcasts

Learn more about Nika.eco! Reach out to info@nika.eco if you are a geospatial data scientist or climate researcher who is interested to partner on a pilot or research opportunities

Wing Vasiksiri, General Partner of WV, and Jeremy Au discussed three main points:

1. Thailand Strong Economics Macros: Wing shared how Thailand ranks 2nd in GDP ($495B USD), 3rd in GDP per capita ($6900 USD) and 4th in population (72M) among the ASEAN-6 nations. Highly educated, robust household internet connectivity (90%) and strong daily usage of the internet (9h).

2. Historical Startup Ecosystem Underperformance: Despite economic strengths and fundamentals, Thailand is ranked last among the ASEAN-6 with only 180 funded startups (Singapore 1780, Indonesia 860, Vietnam 340, Malaysia 280, Philippines 185). Wing discusses key factors including entrepreneurship culture, limited risk capital, corporate-centricity of VC, language, startup talent flywheel, and lack of prior government support for innovation.

3. Why The Time is Now: Wing expressed optimism about the future of Thailand's startup ecosystem, citing positive changes driven by government funding initiatives, cultural shift towards entrepreneurship, strong stock exchange allowing for domestic listings, They also discussed other potential improvements that individual, corporates and policy-makers can choose to make.

Wing and Jeremy also talked about the impact of corporates on the economy, inequality's influence on startups, and Thailand's stock market’s unique liquidity paths for startup exits.

Watch, listen or read the full insight at https://www.bravesea.com/blog/thailand-bcg-report

Get transcripts, startup resources & community discussions at www.bravesea.com

WhatsApp: https://whatsapp.com/channel/0029VakR55X6BIElUEvkN02e

TikTok: https://www.tiktok.com/@jeremyau

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LinkedIn: https://www.linkedin.com/company/bravesea

English: Spotify | YouTube | Apple Podcasts

Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Learn more about Hive Health here: https://www.ourhivehealth.com

Over 90% of VC-funded startup founders fail. In other words, the default scenario for a founder is moving on from their startup and figuring out their next career chapter. Most founders will naturally consider launching another startup vs. other employment opportunities. Learn more about Harvard research about what types of second-time founders succeed on their next venture. Jeremy then shares about the three patterns of sequel startups: revenge, rebound and rebirth startups. Examples include Adam Neumann (Flow vs. WeWork), Travis Kalanick (Cloud Kitchens vs. Uber), Kevin Systrom (Artifact vs. Instagram), Conrad Parker (Rippling vs. Zenefits) and Palmer Luckey (Anduril vs. Oculus). Jeremy then goes into how to gain personal closure, maintain professional integrity and explore what it takes to succeed in a new venture. 

Watch, listen or read the full insight at https://www.bravesea.com/blog/paths-forward

Get transcripts, startup resources & community discussions at www.bravesea.com

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Anthony Tjajadi, Founding Partner at Trihill Capital,and Jeremy Au talked about three main themes:

1. Indonesia Market Insights: Anthony discussed that the necessary qualities of successful Indonesian founders are hard work, being savvy at market dynamics and understanding of local political nuances, with examples in supply chain challenges and consumer behavior in Tier 2 and Tier 3 cities. He shared his assessment that while Indonesia boasts a large, young, and growing middle-class population, the potential for consumer spending is not as robust as macro indicators suggest.

2. Trihill Capital’s Investment Thesis: Anthony described Trihill Capital as a sector-agnostic, early-to-growth-stage VC that prefers investing in tech-enabled businesses. He talked about their focus on scalability, profitability, unit economics, and speed of growth when evaluating companies, as well as their approach to investing in public equities.

3. VC Tradecraft: Anthony advised about what VCs should look for in potential investments and how to navigate the Indonesian market in comparison to the US and China. He stressed the need for VCs to be extroverted and people-oriented, given the need for constant interaction with founders and other investors. He shared about the bold step he took in moving to Singapore to start the fund and advised aspiring venture capitalists to be prepared to make mistakes and understand their personal risk appetite.

Jeremy and Anthony also discussed the thesis behind investing in agritech, the necessity for founders to be fully aware of their market, and the importance of a strong support system for entrepreneurs. 

Watch, listen or read the full insight at https://www.bravesea.com/blog/anthony-tjajadi

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Learn more about Hive Health here: https://www.ourhivehealth.com

Jelmer Ikink, Founding Partner of Foxmont Capital Partners, and Jeremy Au talked about three main topics:

1. Childhood Curiosity (Lehman Brothers & McKinsey): Jelmer shared about his childhood habit of walking around with his hands behind his back and asking questions. This deep-rooted curiosity translated into his academic life, initially pursuing finance for his undergraduate studies and law and diplomacy for his master's degree. He talked about his transition from investment banking at Lehman Brothers to McKinsey management consulting to entrepreneurial ventures in China and the Philippines.

2. Foxmont Founding Vision: Jelmer discussed how they decided on the name Foxmont Capital Partners after being inspired by the discerning nature of foxes as well as their regular meeting spots at the Fairmont and Raffles hotels. He highlighted Foxmont's commitment to nurturing the entrepreneurial landscape in the Philippines. He also talked about the success of their annual Foxmont Summit that convenes the founder ecosystem.

3. 10-Year Life Projections: Jelmer dove into the significant risk he took in deciding to move to Asia and away from a more certain career path. He used the technique of projecting himself ten years into the future to weigh where he would rather be and what stories he would like to have accumulated in his life. He acknowledged that while parts of the journey turned out better (and worse) than expected, he had intentionally chosen to be more mindful of his experience with fewer expectations of himself.

Jeremy and Jelmer also talked about the future shifts in the Philippines’ investment landscape, the country’s macroeconomic growth and the role of luck in VC.

Watch, listen or read the full insight at https://www.bravesea.com/blog/jelmer-ikink

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Learn more about Hive Health here: https://www.ourhivehealth.com

In this discussion, Fandy Cendrajaya, Founding Partner of Kopital Ventures, and Jeremy Au talked about three main themes:

1. Indonesia Bear vs. Bull Market: Fandy talked about Indonesia’s evolving market sentiment from the bullish 2020-2021 to the more cautious investor sentiment in from 2022 to 2024. He shared the importance of being realistic in comparing Indonesia vs. benchmark startups in larger markets like India, China, and the US. He also explained the nuances of the local tech ecosystem across commodity-based growth, consumer-driven trends, and localization requirements.

2. Founding Kopital Ventures: Fandy described building Kopital Ventures with his cofounder who shared the same vision and complementary skill sets. He explained their LP fundraising approach by emphasizing their seed-only investments without follow-on funding, allowing them to collaborate with other VCs.

3. Tough Startup Exits & Strategy: Fandy emphasized the scarcity of significant exit opportunities for startups in Southeast Asia, which affects how VCs should both invest and counsel their portfolio companies. He talked about the IPO and stock performance of startups GoTo, Grab, and Bukalapak on the Indonesia Stock Exchange (IDX), and how this local listing approach contrasts with the US IPO strategy. He underscored why founders should therefore be more thoughtful and agile in their exit strategies, thus setting benchmarks for valuations and investor expectations better.

Jeremy and Fandy also discussed the importance of looking at company valuation comparables, the nuances of angel investing, and the significance of empathy in working with founders.

Watch, listen or read the full insight at https://www.bravesea.com/blog/fandy-cendrajaya

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Learn more about Hive Health here: https://www.ourhivehealth.com

JX Lye, Founder of Acme Technology and former Chief Product Officer of Endowus, and Jeremy Au talked about three main topics:

1. Early Career & Academic Decisions: JX recounted his academic choices across junior college in Singapore, mandatory military service, University of Pennsylvania and a master's degree at Stanford University. He talked about his initial career at the Singapore Economic Development Board (EDB) attracting tech investments to Singapore. He shared what he learnt working in the US as a Product Manager at the scaling growth-stage startups of Dropbox and Lyft.

2. China vs. US Tech Culture: JX discussed the differences between the US and China’s tech work environments. He noted the fast-paced, competitive and intense consumer focus of ByteDance, which required him to unlearn his US product manager training. He brought these learnings to Endowus as Chief Product Officer and worked on scaling both the front-end user experience for a seamless customer experience and the complex financial backend needed for compliance.

3. Revolutionizing Bank Integrations: JX shared how his insights at Endowus helped him identify significant inefficiencies in bank integrations and financial transactions. He saw the opportunity to streamline financial processes not just for fintech companies but also across various industries, which led him to build Acme Technology. He shared the challenges of starting a new company and emphasized the importance of continuous selling, customer focus, and adapting to market needs.

Jeremy and JX also talked about the emergence of the product manager role, the different market segments in fintech, and the importance of understanding real-world problems instead of theory.

Watch, listen or read the full insight at https://www.bravesea.com/blog/jx-lye

Get transcripts, startup resources & community discussions at www.bravesea.com

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Learn more about Acme Technology here: https://www.tryacme.com

In this episode, Sonny Vu, Founder of Alabaster and former founder of Misfit Wearables, and Jeremy Au discuss three main themes:

1. Vietnam & America Roots: Sonny talked about growing up in the Midwest as his older brother’s sidekick and a Vietnamese immigrant who spoke Vietnamese to his American friends. He decided to study Aerospace Engineering at the University of Illinois, but quickly realized his passion lay elsewhere - and shifted to eventually studying computational linguistics at MIT under Professor Noam Chomsky. He also shared why he felt Noam Chomsky was misunderstood by the broader public.

2. Founding Misfit Wearables ($260M acquisition by Fossil): Sonny’s entrepreneurial journey started when he participated in the MIT $50K Business Plan Competition with FireSpout, a startup focused on machine learning-assisted natural language processing (NLP). After selling his first startup, he co-founded other startups including AgaMatrix, an electrochemical biosensor for diabetes management, and Misfit Wearables, a wearable technology company that was eventually acquired by Fossil for $260 million. He discussed how he figured out product-market fit by reading 5,000 reviews of competitors’ wearables and emphasized the importance of timing and market needs. He also stressed the importance of assembling a crew that’s deeply committed to the mission beyond personal gain and celebrates the rare and precious servant leaders who prioritize the team and the mission over themselves.

3. Navigating Tough Decisions: Sonny shared a story of physical bravery while hiking in Turkey, as well as a critical business decision during his second company’s near bankruptcy, where ethical considerations led him to reject a term sheet that would have been detrimental to previous investors. He asserted that true bravery and courage emerge not from the absence of fear but from facing and navigating through it despite potential risks. The key is considering the long-term perspective of self-perception and integrity.

Jeremy and Sonny also talked about how the disciplines of art, math, and languages and are a unified pursuit of beauty, the evolving nature of entrepreneurship, failure as a more potent teacher than success, the importance of sales in startups, and the value of continuous learning.

Watch, listen or read the full insight at https://www.bravesea.com/blog/sonny-vu

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#PublicService #Philippines #Healthcare #Harvard #SME #Telehealth #SocialImpact #Entrepreneurship #BRAVEpodcasts

Camille Ang, CEO & Cofounder of Hive Health, and Jeremy Au talked about three main themes:

1. Family & Public Service Passion: Camille shared about her upbringing in a third-generation Chinese Filipino family that emphasized education and hard work. Her passion for public service and desire to address societal inequality through infrastructure development led her to start her career in the government sector. She noted the stark difference between working in the public sector (which offers a slow-moving but broad change) vs. the private sector (which provides rapid effect-focused impact).

2. Founding Hive Health: Camille highlighted the challenges of limited social health insurance coverage, care coordination, and prevalent misconceptions about healthcare in the Philippines. She co-founded Hive Health, a YC-backed full-stack health insurance company that offers comprehensive plans for small and medium enterprises (SMEs). She elaborated that Hive Health integrates tele-health services and EMR systems to address the gap in healthcare accessibility, where less than 10% of the country’s population has HMOs. She also shared about the acquisition of Health Plan Philippines, which allowed the company to enhance the quality of healthcare services available to Filipinos.

3. Harvard MPA/ID & MBA: Camille shared about what she experienced at her joint Master of Public Administration in International Development (MPA/ID) and Master of Business Administration (MBA) degree at Harvard. She discussed her desire to understand poverty reduction, the role of infrastructure in emerging economies, and the impact of big businesses on society. She shared how her studies shifted her focus from macro-level industrial policies towards making a direct and meaningful impact in the Philippines and Southeast Asia through entrepreneurship.

Jeremy and Camille also talked about the nationwide legalization of Transport Network Vehicles (TNVs), the role of the public sector in driving legislation, and commuting as a metaphor for inequality.

Watch, listen or read the full insight at https://www.bravesea.com/blog/camille-ang

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Learn more about Hive Health here: https://www.ourhivehealth.com/

Bernard Chong, Founder of professional esports organization AP.Bren, and Jeremy Au talked about three main topics:

1. Childhood with World Balance: Bernard talked about his childhood experiences learning the family business, World Balance, the biggest local shoe brand in the Philippines. He learned from his parents about the importance of hard work, clear decision-making, and the importance of stepping back when necessary. He also explained how this foundational training later led to his future entrepreneurial ventures including an animation studio, the local coffee brand franchise Tim Horton’s, the platform business Easy Franchise, and now setting up businesses in the US.

2. Acquittal of False Drug Smuggling Allegations: Bernard recounted his 3-year struggle to prove his innocence after being falsely accused of smuggling $34M of methamphetamine. He shared how he had angel invested in FortuneYield, a cargo company, and how the culprit Wealth Lotus had misled the legal system to believe that FortuneYield had been the consignee. He described the emotional turmoil faced by his family, particularly his children, who faced ridicule and doubt due to the public nature of the accusations. He had to stay silent and have faith in the legal system while the investigation proceeded until he finally received the news that the court had acquitted him and revoked the arrest warrant.

3. Building the Philippines eSports Community: Bernard discussed how his love for gaming and the potential he saw when he ​​observed communities forming around games like DOTA and Street Fighter led him to found the eSports team AP.Bren. He believes in the necessity of patience in allowing time for communities to grow organically. He also highlighted that youth can learn life lessons through professional gaming such as leadership, team management, planning, and resource management.

Bernard also touched on investing in different industries, building overseas, and his passion for teaching which led him to set up an education foundation.

Watch, listen or read the full insight at https://www.bravesea.com/blog/bernard-chong

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Thomas Tsao, Cofounder of Gobi Partners, and Jeremy Au discussed three main themes:

1. Early Life and Education: Thomas talked about his background as a first-generation immigrant. He shared his family's journey from China to the USA and how aspirations and work ethic influenced his upbringing. He discussed the complexities of navigating life as an immigrant student at Harvard and contemplated 'selling out' vs. maintaining his ideals while choosing his first job post-graduation. He opted for a career in banking to gain financial independence and pay off student loans which led him to Wall Street and starting his career at Merrill Lynch.

2. Asia Career Growth & Challenges: Thomas recalled his career journey that paralleled Asia's growth, from the optimism of Hong Kong to the Asian financial crisis. He witnessed and contributed to the technological expansion in China and Asia. His journey included multiple experiences in the Asian financial markets, the tech boom, and the transformative economic landscape of the region. This experience shaped his understanding of market cycles, the importance of frugality, and the value of adapting to new technologies.

3. Founding of Gobi Partners & "Crouching Panda Hidden Tapir" Investment Thesis: Thomas shared his experiences during the Asian financial crisis and the dot-com bubble, which led to the founding of the Beijing Technology Development Fund and later, Gobi Partners, amidst uncertainties like 9/11 and the SARS outbreak. He navigated the challenges in TMT (Technology, Media, and Telecom) and saw China's potential for homegrown innovation, shaping Gobi's focus on fostering innovation. He later saw a unique opportunity to connect Asia with Southeast Asia, leading to the strategy of "Crouching Panda, Hidden Tapir." He discussed that his move to Malaysia solidified Gobi's expansion and focus on underserved markets like Taqwa Tech, aimed at the global Muslim economy.

They also discussed Thomas’ learnings from Harvard University, the founding of Beijing Technology Development Fund, the SARS outbreak and its impact on business, and the integration of diverse cultures in corporate environments.

Watch, listen or read the full insight at https://www.bravesea.com/blog/thomas-tsao

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Jeremy Au defined startups as newly established businesses bringing future technologies to the present, with unicorns being those valued at over $1 billion. These valuations are typically driven by revenue generation of around $100 million annually and market confidence in future profitability, eg. Palantir and Salesforce. Private markets apply valuation multiples based on future growth potential, with speculative booms in sectors like crypto, where revenue valuation multiples went as as high as 1000x due to bull markets. The odds of achieving unicorn status (about 1 in 40 for USA startups with venture funding) and outlined eight strategies for building a unicorn (Christoph Janz). These include models like “whales,” serving high-value clients, and “rabbits,” scaling by targeting many smaller customers. He emphasized that becoming a unicorn requires long-term execution, strategic positioning, and navigating indirect competition, particularly in Southeast Asia’s fragmented markets. 

Watch, listen or read the full insight at https://www.bravesea.com/blog/8-ways-to-build-a-unicorn

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Gabby Dizon, Cofounder of Yield Guild Games, and Jeremy Au talked about three main themes:

1. Founding Yield Guild Games (YGG): Gabby reflected on his childhood passion for computer games which led him to a career in game development and startups. He shared how he first met his cofounders Beryl Li and Owl of Moistness online, and how his CTO maintained his anonymity during a later $4.6M funding round from Andreessen Horowitz (a16z).

2. Web3, Gaming & Crypto Industry: He delved into the cyclical bull-and-bear nature of crypto, and the contrasting roles of good and bad actors. He also discussed digital scarcity and how it applies to the gaming world, emphasizing the parallels with physical assets and trading. He also discussed YGG's strategic evolution from an asset lending model to a more comprehensive system involving quests, achievement platforms, and the integration of real-world applications like credentials.

3. Generational Shifts: Gabby spoke about the importance of bridging the gap between millennials, Gen Z, and future generations. He underscored the founder's responsibility of reshaping the world and normalizing new technologies and connects this to his personal experience as a father who is comfortable discussing with his children about Web3 as a place for learning and experimentation.

They also talked about the future of work and the relevance of traditional education, how content consumption influences actions, and the impact of communities in the crypto and gaming sectors.

Watch, listen or read the full insight at https://www.bravesea.com/blog/gabby-dizon

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Learn more about Acme Technology here: https://www.tryacme.com

Franco Varona, Managing Partner of Foxmont Capital Partners, and Jeremy Au talked about three main themes:

1. Entrepreneurial & Grab Beginnings: Franco detailed his early entrepreneurial experiences before the age of Google and widespread digital resources. He founded Creative Spark and subsequently Global Media, a company focused on advertising sales that serviced international media outlets. He shared how he was invited by Jesse Maxwell, a friend and later a partner at Foxmont, to launch Grab’s operations in the Philippines as country GM. He shared what it was like to live in founder Anthony Tan's apartment, to figure out how to localize and scale on-demand ride-sharing across Manila and other markets. He highlighted the hurdles he faced like dealing with slow and expensive internet infrastructure and training drivers to use smartphones.

2. Philippine Market Dynamics: Franco discussed his long-term vision for the Philippines, driven by a childhood dream of giving back to his home country. He discussed the growing middle class, the global diaspora's knowledge, and the rising adoption of digital solutions like mobile wallets. He also envisions a future where the local startup ecosystem is key for poverty reduction and education accessibility

3. Foxmont Capital Investment Philosophy: Franco discussed Foxmont Capital's mission as a cornerstone local VC investor to serve as a market filter and promote exceptional Filipino entrepreneurs, They initiated the Foxmont & BCG Philippine Venture Capital Report, which provides an annual overview of the country's rapid digital transformation, market insights and key changes. He discussed how they look at Indonesia as a benchmark startup market, and also share their investment philosophy that focuses on backing simple yet essential Filipino solutions to local problems.

They also talked about the role of CVCs in the Philippines, expectations vs. realities of building a business, and the pandemic’s impact on digital transformation.

Watch, listen or read the full insight at https://www.bravesea.com/blog/franco-varona

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Learn more about Acme Technology here: https://www.tryacme.com

In this episode, Shiyan Koh, Managing Partner of Hustle Fund, and Jeremy Au talked about three main topics:

1. $1.5B Bytedance Tokopedia GoTo Deal Analysis: They discussed ByteDance's $500 million payment to acquire a 75% stake in the merged entity of Tokopedia and TikTok Shop Indonesia. This would create the new Indonesia e-commerce market leader with 40% market share. ByteDance committed to investing a future $1 billion into the operations of the new entity, which will contractually not dilute GoTo's 25% minority stake. The deal was motivated by TikTok's need to resume its Indonesia operations after a ban by the Indonesia government, Tokopedia's -0.4% adjusted EBITDA as % of GTV (Q3 2023), and the opportunity to create the #1 Indonesia e-commerce platform with larger economies of scale, a new media-led growth engine and a wider seller base.

2. Indonesia E-Commerce War: They discussed Indonesia's $52B e-commerce market: Shopee (36% market share), Tokopedia (35%), Lazada (10%), Bukalapak (10%), TikTok Shop (5%), and Blibli (4%). They explained how this consolidation reflects the regional trend of increasing focus on efficiency, logistics, and leveraging technological synergies to gain dominance, similar to Uber Southeast Asia's strategic sale to Grab to concentrate on core markets. Credit goes to Momentum Works and Freeman Ding for their analysis.

3. Winners, Losers, and Future Moves: They identified Indonesian consumers as clear winners due to continued intensive competition on lower prices and innovation in services, similar to the Uber vs. Grab vs. Gojek rivalry. They also discussed other beneficiaries, how this reflected the growing maturation of the region for M&A activity, and how competitors like Grab and Sea Group would react to this market development.

Shiyan and Jeremy also talked about the challenges of founders fundraising during the holiday season and their own upcoming family vacation plans.

Watch, listen or read the full insight at https://www.bravesea.com/blog/bytedance-tokopedia-investment

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