BRAVE Southeast Asia Tech: Singapore, Indonesia, Vietnam, Philippines, Thailand & Malaysia Startups, Founders and Venture Cap Jeremy Au

Agung Saputra, CEO & Founder of Surplus Indonesia, and Jeremy Au talked about three main themes:


1. Indonesia Pollution Crisis: Agung flagged that Indonesia is one the top 3 polluters in the world: #2 plastic polluter, #2 food wastage and #1 most air polluted city (Jakarta). He highlighted the lack of regulations and public awareness as major barriers to effective waste management for the country's severe environmental challenges. Indonesia's reliance on “ticking time bomb” landfills (rather than incineration or recycling) poses significant safety hazards, e.g. a landfill explosion in Bandung led to fatalities. Deforestation for urban development has led to significant biodiversity loss, e.g. the new capital city of Nusantara in Borneo. He underscored the need for comprehensive governmental action and community involvement to improve environmental practices​​.


2. 48 Million Tons of Food Waste: Agung addressed the rapidly-rising problem of food waste, driven by its large population, increasing affluence and cultural attitudes (e.g. viewing an empty plate at the end of the meal as impolite). Harvard research shows that 20M people (8%) in Indonesia are unable to meet their nutritional needs every year, and stunting affects one-third of children under five years old. However, 48 million tons of food worth $39B USD (~5% of Indonesia's GDP) is lost annually, which is equivalent to 170kg of food waste per person. Not only would redirecting edible food to food banks support people experiencing hunger and chronic malnutrition, but it would also help reduce greenhouse gas emissions produced from food ending up in the landfill. He warns that food waste will continue to increase as Indonesia gets larger and richer unless effective interventions are implemented. 


3. Surplus Marketplace App: Agung described how Surplus Indonesia operates as a marketplace for surplus food, connecting consumers with discounted food items that would otherwise go to waste. The platform works similarly to Foodpanda, allowing users to find and purchase surplus food from local businesses via an app. Surplus Indonesia has grown significantly, reporting a threefold increase in revenue in 2023, which indicates a rising demand for sustainable practices. He also discussed the company's approach to ensuring food safety and quality, including a two-strikes policy for vendors who fail to meet standards. He highlighted that the primary customers are younger Indonesians, who are more environmentally conscious and willing to support sustainable businesses​​. He explained that the demographic shift is reflected in the increasing number of sustainability startups in the country, from just a few in 2019 to nearly a hundred by 2024.


Jeremy and Agung also talked about managing different types of waste and recycling streams, growth in sustainability-driven sectors, and the increasing involvement of young Indonesians in environmental issues.


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


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


English: Spotify | YouTube | Apple Podcasts


Reach out to joe@heymax.ai to learn more about Heymax!

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


1. USA VC vs. Southeast Asia Fund Performance: Bain’s 2023 private equity report shows that Southeast Asia's VC returns have been lower over the past decade, with median LP distributions of 0.4X for Southeast Asia, China 0.6X, Europe 0.7X, USA 1X and India 1.3X. Shiyan attributed this due to the oversupply of capital - despite an order of magnitude increase in venture capital into Southeast Asia, this influx has not led to a proportional increase in scalable, successful companies, thus leading to inflated valuations and reduced returns​​.


2. SGX & IDX Capital Market Challenges: Jeremy and Shiyan examined the hurdles faced by Southeast Asian companies in accessing capital markets. Jeremy noted the low liquidity on local exchanges, with turnover rates at 32% in Singapore, 19% in Indonesia, and 73% in the Philippines, compared to the New York Stock Exchange's 103%​​. Shiyan emphasized that local regulatory constraints, such as the Singapore Stock Exchange’s requirement for profitability (to protect retail investors), deter many tech startups, prompting them to seek international listings, particularly in the US, where they can list at higher valuations despite ongoing losses​​. They also discussed the role of capital controls in limiting retail investors' access to offshore equities in China and India, driving demand for domestic listings​​.


3. Post-AI "Good Jobs": Jeremy and Shiyan examined the impact of AI on Southeast Asia's labor markets, focusing on how integrating AI with lower-cost labor could create a competitive advantage against purely AI-driven models in the US​​. Shiyan suggested that developing AI-native companies could drive innovation in service sectors like call centers and business process outsourcing (BPO). They also touched on the concept of the “iron rice bowl”—a metaphor for job security and stability in traditional sectors, such as government-related roles, which might be less affected by AI​​. They noted that while AI could make some roles obsolete, particularly those involving repetitive tasks, it might also open new opportunities by automating routine aspects of jobs, thus enhancing overall productivity.


Jeremy and Shiyan also talked about the importance of mid-sized companies for talent recycling, AI’s role in the creative fields, and how global economic trends impact founder fundraising in the region.


Watch, listen or read the full insight at https://www.bravesea.com/blog/post-ai-good-jobs


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


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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


Reach out to joe@heymax.ai to learn more about Heymax






 

Jeremy reflects on his teenage military experience in the Singapore army across two years: 1. might makes right 2. camaraderie humor and 3. sacrifice as a crucible into adulthood. He details the transition from the implicit social norms of school into the military, where he learned that laws which codify right and wrong are actually backed by the use of force. He shares the camaraderie built through shared hardships and the deep humor by fellow soldiers. Arduous challenges pushed him beyond his self-imposed physical and mental limits. He also grew to respect those willing to make the ultimate sacrifice of their own lives in service to the greater good, like veterans, firemen and good samaritans.


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


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


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


Reach out to joe@heymax.ai to learn more about Heymax

Fady Abdel-Nour, General Partner at Antler, and Jeremy Au, talked about three main themes:


1. Naspers & Ontario Teachers' Pension Plan Learnings: Fady shared his career path, starting in investment banking during the peak financial markets of 2007. He then transitioned to Ontario Teachers' Pension Plan, focusing on long-term and solution capital investments. There, he led Ontario Teachers’ first private deal in China with Ganji and worked on JD.com. Later, at Naspers, he specialized in FinTech, leading investments and M&A, particularly in payments and alternative lending in India, Brazil, and Indonesia, with notable investments including PaySense (acquired for close to $200 million), and a digital mortgage company in Brazil (valued at $4 billion during its last round). These experiences helped Fady develop a keen understanding of the importance of strategic geographical diversification in investment.


2. Antler Partner ($285M AUM) Outlook: Fady was impressed by founder Magnus Grimeland's rapid scaling of Antler and helped launch the Elevate growth fund that closed at $285M USD. Fady discussed the current favorable conditions for deploying capital, noting that while there are fewer opportunities compared to 2020 and 2021, the quality has significantly improved. He highlighted a reduction in less promising ventures, making the market more attractive for serious investors. He also was optimistic about the market's potential to improve and attract international investors, e.g. Japanese investors increasingly exploring Southeast Asia.


3. India vs. China vs. Southeast Asia VC: Fady discussed that China is becoming less investable to global LPs due to geopolitical tensions, while India continues to show rapid innovation and strong domestic and global business potential. He explained how he sees diverse markets in the region with significant growth potential, e.g. Indonesia and Singapore which are emerging as FinTech hubs with companies like PayPal and Stripe establishing a presence, thus creating a fertile ground for new ventures.


Jeremy and Fady also talked about his reflections on moving from larger organizations to a more entrepreneurial setting, China’s leading role in digital transactions, and the rise of digital adoption in different markets.


Watch, listen or read the full insight at https://www.bravesea.com/blog/fady-abdel-nour


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


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


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


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


1. Singapore vs. USA Education Systems: Jeremy and Shiyan discussed differences in structure, funding, and outcomes. In Singapore, the education system is centralized with high academic rigor, while in the USA, quality varies significantly due to local property tax funding, leading to disparities between affluent and less affluent areas. They highlighted how the Singapore system is envied by global peers for its academic outcomes but faces internal criticism for being a "pressure cooker.” Shiyan also emphasized the personal nature of educational choices and the high costs associated with private international schools, which can be prohibitive for startup founders.


2. WEIRD AI Teddy Bears: Jeremy and Shiyan debated AI integration into children's toys and education. Jeremy expressed concerns about AI potentially replacing difficult human conversations with always-pleasant AI interactions. They discussed the inherent biases in LLM models, which are trained on data from Western, Educated, Industrialized, Rich, and Democratic (WEIRD) societies. Embedding AI into education thus further propagates this worldview to the next generation, which may not reflect current, local or parental cultural values or norms.


3. US Senate $32B AI Investment Bill: Jeremy and Shiyan discussed the proposed legislation advocating for a $32 billion annual investment in AI. Jeremy added that the US is already a leader in AI investment, with private investments expected to reach $82 billion next year, more than double that of China. She questioned the need for further government investment in an area already heavily funded by the private sector and argued that government funds might be better spent on education, which offers broader societal benefits.


Jeremy and Shiyan also talked about parental competition for "good jobs”, the challenges in balancing academic rigor and student well-being, and the future implications of AI in the workforce.


Watch, listen or read the full insight at https://www.bravesea.com/blog/weird-ai-teddy-bears


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


WhatsApp: https://chat.whatsapp.com/CeL3ywi7yOWFd8HTo6yzde


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


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


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


Join us at the startup conference Echelon X! We have 30 exclusive complimentary tickets for our podcast listeners. Sign up and use the promo codes BRAVEPOD or ECXJEREMY to claim your free tickets now!

Jeremy Au discusses the success habit of creating content, rather than consuming. He remembers the nervousness in launching the first podcast episode, his desire for deep, human-centric stories about tech leaders, and overcoming writer's block. He advises rising thought leaders to start with a topic they are passionate about, the importance of consistency and other practical advice. He also discusses personal growth, community engagement and mistakes he had made.


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


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


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


WhatsApp: https://chat.whatsapp.com/CeL3ywi7yOWFd8HTo6yzde


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


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


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


Join us at the startup conference Echelon X! We have 30 exclusive complimentary tickets for our podcast listeners. Sign up and use the promo codes BRAVEPOD or ECXJEREMY to claim your free tickets now!