Adriel Yong, Head of Investments at Ascend Network, and Jeremy Au discussed three major topics:

1. Startup Accounting Tricks (GMV, Revenue, Gross Margin, Contribution Margin): Local VCs have often confused Gross Merchandise Value (GMV) with actual platform revenue, and gross margins with actual unit profitability. Startups have also split reporting contribution margin into CM1, CM2, CM3 and CM4. This has caused investor misunderstandings, accusations of misleading financial reporting and startup boards to focus on the wrong metrics. Prevalance is high due to inexperienced finance teams, emerging VCs and poor market norms/ incentives.

​​Jeremy Au discussed the increasing intensity of "algostorms" - unpredictable social media “weather systems” driven by algorithms that prioritize engagement over truth. The Internet’s transition from human-centric, chronological forums to a volatile online environment where individuals are caught in fluctuating must-discuss trends manipulated by botnets, corporations, and professional influencers. He also drew parallels to the stock market, where algorithm-driven trading can cause flash crashes, leading to rapid market drops and recoveries. Some people trendjack to push their agendas, others unconsciously follow what seems to be majority opinion, and some seek refuge in genuine human interactions. He pointed out government actions to regulate content platforms and deploy Internet “circuit-breaker” blackouts, across Singapore, India, Myanmar, Indonesia, Iran and Bangladesh. Acknowledging the power of online influence is the first step to taking back control over one’s reactions and gaining intentionality in the digital sphere.

Jianggan Li, Founder & CEO of Momentum Works, and Jeremy Au talked about three main themes:

1. Indonesia & Trump Tariffs: Indonesia's new tariffs target imports like China-manufactured footwear, clothing, and ceramics to protect 65M local micro, small and medium enterprises employing 109M people. These trade barriers have negatively impacted local customers, e.g a hotpot restaurant struggling to get custom-branded plates. Similar measures include Brazil's quota for steel products, South Africa's tariffs on solar panels, and Trump's proposal to increase US tariffs to 60% on Chinese goods.

Jeremy Tan, Managing Partner and Cofounder of Tin Men Capital, and Jeremy Au talked about three main points:

1. Cambridge Engineer & Harvard MBA: Jeremy Tan shared his journey from a playful student to getting into a life-changing education at Cambridge. His early life goal of becoming a refinery chemical engineer shifted after a pivotal internship, which propelled him into finance with Morgan Stanley investment banking and later private equity. Getting an MBA at Harvard Business School opened up many doors for him, especially in building a global alumni network that later allowed him to secure essential early LP funding for his VC fund.

Jeremy Au listed the 3 reasons for joining Lucence, a startup leveraging next-generation sequencing AI for early cancer detection with a single blood test. He reflected on his teenage years grieving over a personal loss due to lymphoma. He contrasted the builder role with the job of a VC, with a different set of “atomic” work outcomes. He appreciates being "the dumbest person in the room” and learning from experts in genetics, medicine, and data science. This role fulfills his entrepreneurial energy with a strong sense of purpose: getting revenge on cancer, improving patient treatment outcomes and saving lives globally.

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

1. Allianz Insurance Acquiring NTUC Income: Jeremy and Shiyan dissected the business logic and new facts that have emerged, especially regarding the current competition and performance challenges facing NTUC Income. They addressed the confusing public communications, emphasizing the need for transparent messaging to maintain stakeholder trust and societal confidence. They also reflected on the lessons for nonprofits and social enterprises regarding the importance of the constitution to safeguard social objectives.

Patrick Linden, Cofounder & Managing Partner of Match.Asia, and Jeremy Au discussed three main points:

1. Dealguru $34M Acquisition: Patrick shared his journey beginning from a small village in Germany to moving to Singapore and building iHipo, a platform to connect European students with opportunities in Southeast Asia. This early experience ignited his entrepreneurial passion, and he recounted the inception of Dealguru, an e-commerce platform inspired by the Daily Deal model. He described a strategic marketing stunt involving Starbucks vouchers that catapulted the platform into the public eye, which quickly established it as a key player in Singapore’s e-commerce sector.