BRAVE: $1.5 Trillion Green Investment Gap, Vietnam $24B Bank Bailout, Huawei Wolf Pack & Reset Your Hunger
June 2024 Newsletter
BRAVE had a great time speaking and meeting listeners at e27’s Echelon X conference. We’re also excited to welcome Jianggan Li, CEO of Momentum Works and author of “Seeing the Unseen,” as a co-host covering China’s trade and strategic moves across Southeast Asia. If you know a local expert who understands either the Malaysia or Philippines market well, feel free to recommend someone!
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Regional News & Deep Dives
Gita Sjahrir, Head of Investment at BNI Ventures, debated Southeast Asia’s $1.5 trillion green investment gap and whether local startups can compete with China’s EV manufacturing nexus, as well as Prabowo's op-ed in The Economist criticizing the West's "double standards" on Gaza and Ukraine.
Valerie Vu, Founding Partner of Ansible Ventures, talked about Vietnam's $24B bank bailout, continued political resignations and Apple's $16B supply chain commitment.
Shiyan Koh, Managing Partner of Hustle Fund, discussed Singapore's new Prime Minister Lawrence Wong, and potential reforms to the "barbell" immigration strategy and education system.
Jianggan Li, CEO of Momentum Works, shared about China’s 3 historical waves of immigration to Southeast Asia starting with Ming Dynasty’s Admiral Zheng He, the Cantonese/ Hokkien/ Hakka/ Hainanese diaspora and the work culture adaptions by Chinese MNCs.
Jeremy Au explored why every human is already digitally immortal, the hidden themes of Liu Cixin’s “Three Body Problem,” the new wave of “roboganda" - propaganda advocating for robot substitution, observations of Huawei engaging ASEAN at their APAC 2024 conference and the success habit of being a creator.
Popular Interviews
Helen Wong: AC Ventures Managing Partner Leadership Journey, China VC Acceleration & Indonesia Growth Optimism: Helen shared her experiences from Oxford University to investment banking to GGV Capital to INSEAD MBA to Qiming Ventures to Managing Partner of AC Ventures. She shared insights on investing in 4 unicorns, 3 M&A exits and 7 IPOs, e.g. Alibaba's growth from 1,000 to thousands of employees. She reflected on how the Asian Financial Crisis reshaped her view on risk, and Indonesia's parallels with China's rapid ecosystem growth.
Hong-Eng Koh: Huawei R&D Leadership, Public Sector Digital Transformation and Resilience: He shared his decades of experience driving governmental digital transformation across the Singapore Police Force, National Computer Board, Oracle and Sun. Huawei is differentiated by dedicating over 55% of their workforce towards innovation, a “wolf pack” team culture and being laser-focused on customers in the midst of a decoupling world.
Jason Edwards: Lawyer to Founder & VC, Alternatives.pe Regional Capital Insights & January Capital Venture Debt Strategy: Jason recounted his shift from a legal career at Baker & McKenzie in Australia and Hong Kong to founding Alternatives.pe, a data platform for private capital market professionals. He also shared his learnings from the Asian Financial Crisis, focusing on financial restructuring for distressed firms across Bangkok, Singapore, and Asia. He explained the complexities of capital recovery in Asia, stressing that effective asset recovery involves balancing strict enforcement with cooperation, as many businesses hold intrinsic value and local connections that complicates direct takeovers.
Léa Klein: 98% Southeast Asians Want Meaning At Work, Western vs. SE Asia On Sustainability & Economic Stability For Family: Léa highlighted that 98% of Southeast Asians seek meaningful work, yet many feel dissatisfied with their current roles. She observed regional differences where Southeast Asians prioritize economic stability for their families over environmental sustainability, in contrast to the West.
Chia Jeng Yang: Reset Your Hunger, VC to Founder Transferable Skills & USA vs. SE Asia Startup Ecosystems: Chia discussed his transition from a VC principal in Southeast Asia to AI founder in America. He learned that many VC skills are not transferable to startup building due to the need for actual hands-on ops experience, and why he needed to reset his personal drive to achieve success.
Community News
We’d like to congratulate this year’s Forbes 30 Under 30 Asia honorees:
Amanda Cua, Founder of Backscoop. Check out her decision to not go to university and creator monetization strategies.
Evan Heng, CEO & Founder of Zenith Learning Group. Learn more about how he built a $6.7M revenue edtechs startup during university.
Michael Lints, Partner at Golden Gate Ventures, was spotlighted by Digital News Asia for for spearheading the firm's US$100 million MENA fund. Read about his insights on founder conviction and the collaborative nature of the Southeast Asia startup community.
Congratulations to Franco Varona for being recognized by Tatler Asia as a key wealth builder in Asia influencing the future of finance. Discover his perspective on emerging market VC and his personal mission for the Philippines.
Kevin Brockland, Managing Partner of Indelible Ventures, was spotlighted by Yahoo News for emphasizing Malaysia's unique market diversity as a prime testing ground for new startup product launches. Check out his episode about Malaysia’s startup ecosystem and reversing brain drain.
Notable Press & Listener Feedback
“Brilliant as always! Both SEA & SA are hierarchical societies. While some countries have evolved, hierarchy still trumps meritocracy in most countries. Zero-sum games have been the biggest barriers to growth. Keep sharing amazing content Jeremy!” - Chalinda Abeykoon
“It's fascinating to see the different dynamics at play in various ecosystems. Keep pushing boundaries.” - Sojy
Best Read
Mark Manson's "How to Be Happy" delves into the misconceptions about happiness, explaining that it isn't a state to achieve but an experience to inhabit. He illustrates how people are very poor judges of what will make them happy and often mistake pleasure for happiness. For myself, I find that true happiness comes from meaningful life experiences (especially with family), high purpose missions and deep connections with true friends.
Quote
“When my brother and I were growing up, my father would encourage us to fail. We’d sit around the dinner table and he’d ask, “What did you guys fail at this week?” If we had nothing to tell him, he’d be disappointed. The logic seems counterintuitive, but it worked beautifully. He knew that many people become paralyzed by the fear of failure. They’re constantly afraid of what others will think if they don’t do a great job and, as a result, take no risks. My father wanted us to try everything and feel free to push the envelope. His attitude taught me to define failure as not trying something I want to do instead of not achieving the right outcome.” - Sara Blakely
Reflection
“Being brave means that when there isn't a path in front of you, you need to pave it. If your gut instinct tells you there’s something there, that’s great. If not, turn around and find another spot.” – Carlo Chen-Delantar
Growing up in Cebu, Philippines, Carlo was immersed in the entrepreneurial world from an early age. Weekends spent at his family's manufacturing plant taught him the ins and outs of exporting and supply chain management, and fostered a strong entrepreneurial spirit. By high school, he was already running his own small business, selling sneakers and hip-hop shirts. Carlo was inspired by Tom's Shoes during his college years and he later channeled this passion into building businesses with a strong focus on eco-fashion.
After seeing the devastating impact of Typhoon Yolanda on the Philippines in 2013, Carlo decided to change his career and lead the nonprofit Waves for Water to provide clean water access to over 2 million Filipinos. After seeing the power of technology, proper funding, and dedicated teams in creating significant social impact, Carlo now leads ESG in venture capital to allocate capital effectively towards positive social change.
Carlo's path unfolding through unexpected encounters reminds us to be open to new opportunities that can redefine our goals. It encourages us to seek broader impacts in our professional endeavors, be it through social entrepreneurship, strategic investments or whatever endeavor best fits your skills and passion.
Reflect on a time when an unexpected event significantly altered your career path. How did it shape your professional journey?
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Stay Brave!
Jeremy Au
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