SEA of Startups

Decoding the Pulse of Founders, Capital & Conviction in Southeast Asia.
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🎙 SEA of Startups Decoding the pulse of founders, capital, and conviction in Southeast Asia. This isn’t another “startup success” show — it’s the real conversation behind what actually works (and what doesn’t) when you’re building, funding, or navigating the region’s wild, ambitious ecosystem. From Singapore’s capital corridors to Jakarta’s chaos, Manila’s energy to Ho Chi Minh’s grit — we unpack how ambition, culture, and capital collide. Expect deep dives into founder psychology, venture strategy, and the unspoken truths shaping Southeast Asia’s next decade. Hosted by Kim Yeoh and Kevin Brockland, it’s where strategy meets psychology — a mirror to the builders and believers shaping Southeast Asia. Part strategy, part soul — unfiltered, intelligent, and entirely real. seaofstartups.substack.com

  1. 🎙EP 20: Singapore did it...again: How the SGX–NASDAQ Dual Listing Bridge Rewrites Southeast Asia’s Exit Game

    12/04/2025

    🎙EP 20: Singapore did it...again: How the SGX–NASDAQ Dual Listing Bridge Rewrites Southeast Asia’s Exit Game

    Heyyyy guys, 🧠 TL;DR — What Actually Changed * SGX × NASDAQ dual listing is a real regulatory breakthrough — but U.S. liquidity remains unproven * The fintech “funding collapse” was actually capital consolidation into Singapore * Southeast Asia is shifting from emerging → maturing, with real scaffolding for a capital stack * Founders + investors have a 24-month window before this becomes table stakes The Setup: Why This Moment Matters SGX and NASDAQ just launched a dual-listing bridge — something Southeast Asia’s growth-stage founders have wanted for a decade. But here’s the twist: This isn’t about IPO convenience.It’s about Singapore silently building its own version of Silicon Valley’s capital stack — adapted for Southeast Asia’s geopolitical reality. And it’s happening while the rest of the ecosystem is still parsing the headline. We are at an inflection point,but not for the reasons most people think. 1. SGX × NASDAQ Dual Listing Real Liquidity or Ego Liquidity?** What It Is A streamlined structure allowing ~$2.5B+ companies to list simultaneously on SGX and NASDAQ without: * duplicate filings * conflicting disclosures * multi-jurisdictional legal chaos A real regulatory achievement. What Everyone Assumes “Finally! A viable U.S. exit path for Southeast Asia tech.” What It Actually Is A partial solution — with one massive unanswered question: Does this create real U.S. liquidity, or just better press releases? Regulatory friction? Solved.Liquidity, analyst coverage, and market-making? Not solved. Let’s be blunt: * Who in New York is covering a $3B ASEAN B2B SaaS they’ve never used? * Who is trading your stock at 2 a.m. EST? * How do you compete for attention against trillion-dollar tickers? In Singapore, you matter.In the U.S., you are… a symbol on a screen. Who Wins (Right Now)? * SGX — they can pitch “NASDAQ access” to the entire region * Founders — they gain optionality and cleaner paperwork Will U.S. liquidity appear? TBD. Yes, AvePoint dual-listed in 2025 — but one data point does not equal a trend. 2. The Fintech Funding ‘Collapse’ That Wasn’t If you only saw the headline:“SEA fintech funding down 39% YoY.” You missed the real story: Singapore captured 84–88% of all fintech dollars.Capital didn’t disappear — it moved to safety. The Numbers * $829M raised (SEA fintech, first 9 months of 2025) * Singapore → 84% (with multiple quarters at 88%) * Mega rounds continued quietly: * Thunes — $150M Series D * Airwallex — $150M Series F This isn’t contraction. It’s radical selectivity. When markets tighten, capital flies to clarity.In Southeast Asia, clarity has a postal code — Singapore. The Nuance No One Mentions Many “Singapore rounds” are Singapore TopCos with operations elsewhere.But even adjusting for that, the trend is undeniable: Singapore is becoming the gravitational center of SEAs capital stack. If You’re Building Outside Singapore… You need a Singapore strategy now, not “when we hit Series B.” * Entity structure * Regulatory setup * Investor relationships * Capital access You cannot retrofit a cap table at scale. If You’re a Seed Investor… Your job just became extremely difficult. You must identify the 10–15% of founders who: * can reach late stage * understand jurisdiction strategy * can navigate regulatory complexity * know how to design an intelligent capital stack Most seed funds will not do this.The ones who do will win disproportionately. 3. From Emerging → Mature Is Southeast Asia Finally Growing Up?** Silicon Valley is built on a simple assumption: Build → Scale → Exit on NASDAQ.Because the infrastructure exists. Southeast Asia has never had that luxury. Grab went to NASDAQ.Sea went to NYSE.No major regional champion listed on SGX — because the liquidity + coverage didn’t justify it. What’s Shifting Now? Singapore is positioning itself as the region’s public-market on-ramp: * SGX × NASDAQ dual listing * Extreme fintech capital concentration * Temasek + GIC reallocating toward deep tech and infrastructure * Robust IP protection * $28B RIE2025 deep-tech plan To become a mature ecosystem, you need: * A complete capital stackSeed → A → Growth → Pre-IPO → Public markets * Exit pathways that convertNot theory — execution. * Signaling mechanismsReal wins → real returns → capital recycling. We’re not fully there.But for the first time, the scaffolding is real. 4. The Implicit Geopolitical Subtext U.S.–China decoupling has reshaped global capital flows. China still owns ~75% of Asia biotech funding…but diversification is accelerating fast. And Singapore is playing its hand masterfully- clever and very typical. Singapore is now: * Neutral * Globally aligned * Legally predictable * Highly trusted Signals: * Biotech capital shifting to Singapore & South Korea * Flagship Partnering × A*STAR: $100M deep-tech commitment * Talent and IP migrating to strong-jurisdiction hubs This isn’t incremental.It’s a generational repositioning. (See it now?) 5. What Founders Should Actually Do (Immediately)** 1. Five-Decision Audit Label your last 5 decisions: Offense or Defense.If you’re 4–1 defensive, you’re playing not to lose. 2. Entity Structure Review Make your TopCo dual-listing ready:clean cap table → clean governance → clean audit trail. 3. Live Capability Target List Every month, update your list of 10 companies/tech you may:Acquire → Partner → Replicate. 4. Board Transformation Agenda Shift board meetings from quarterly KPIs → 3–5 year capability maps. This is how category-defining companies build. 6. What Investors Should Do Late-Stage Investors Dual listing optionality changes your entire underwriting model: * valuation ceilings shift * secondary liquidity widens * crossover investor interest increases * exit horizons change Audit portfolio readiness now.This advantage won’t last long. Seed Investors Your edge becomes:jurisdiction strategy + regulatory guidance + capital stack architecture. This is no longer “nice-to-have.”It’s competitive advantage. 7. The 24-Month Window Here’s the uncomfortable truth: The founders and investors who move now will define the next decade. Infrastructure windows don’t stay open: * SGX is motivated today * NASDAQ is paying attention today * Capital is concentrating today * Regulations are flexible today In 3–5 years? This either becomes table stakes —or a missed opportunity we’ll reference for a generation. 8. The Question Southeast Asia Has Been Asking Wrong For years the ecosystem asked: “Can Southeast Asia produce the next Google?” Wrong question. The real one is: “Can Southeast Asia build systems that consistently produce category-defining companies?” For the first time, the answer is trending toward yes — cautiously, but convincingly. Not because of one unicorn.But because the infrastructure is finally being built. * dual listing bridge * capital consolidation * sovereign repositioning * regulatory maturity * talent density * deep-tech investment Together, they form the early blueprint of a Southeast Asian capital stack. Purpose-built for this region.Not imported. Before You Go This year stretched us — in the best way. We decoded: * orbital compute * fintech infrastructure * regional capital flows * AI rails * cross-border regulation A pattern emerged: Southeast Asia isn’t catching up.It’s reshaping itself. We’re taking a short break — a reset, a recalibration (maybe even one day off our phones… maybe). But 2026?We’re coming back with the founders building the next layer of infrastructure — the kind that defines decades. Stay curious.Stay ambitious.Keep building. The ecosystem is leveling up.All we need now is you. — Kim & KevinSEA of Startups SGX NASDAQ dual listing, Singapore capital markets, Singapore fintech funding 2025, Southeast Asia IPO pathways, SEA startup ecosystem, Singapore dual listing strategy, capital stack Southeast Asia, NASDAQ Asian companies, Singapore startup hub, venture capital SEA, fintech Singapore trends, deep tech Singapore RIE2025, Singapore TopCo structure, regional tech IPO strategy, Southeast Asia exits, liquidity Singapore market, Singapore economic strategy This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

    35 min
  2. 🎙EP 19: While We Argue About Electricity, Google Is Moving Compute to Space. Southeast Asia Has 36 Months to Wake Up.

    11/20/2025

    🎙EP 19: While We Argue About Electricity, Google Is Moving Compute to Space. Southeast Asia Has 36 Months to Wake Up.

    THIS WEEK'S REALITY CHECK Google just published research that makes every data center in Southeast Asia look obsolete. Project Suncatcher: Space-based AI data centers hitting cost parity with terrestrial operations by 2035. Launch costs dropped from $10,000 to $1,500 per kilogram. SpaceX is targeting $200/kg. This isn't science fiction. It's a $100 billion economic shift happening right now—and Southeast Asia has exactly 24-36 months to position itself as the ground station hub or watch the value flow elsewhere. This episode breaks down why orbital compute is inevitable, what it means for AI and agriculture in the region, and the moves founders need to make before the infrastructure moats lock in. WHAT WE COVER 🚀 The Economics That Just Flipped Launch costs: $10K → $1.5K per kg (and falling to $200/kg by 2035) Why Google's betting on orbital over terrestrial 8x more solar efficiency + free cooling in vacuum of space How SpaceX made the impossible economically viable ☀️ Project Suncatcher Breakdown What Google's actually building (and why now) Technical challenges: maintenance, thermal radiation, data latency Why StarCloud just launched NVIDIA-powered mini data center into orbit The radiation hardening problem (and how it's getting solved) 🌾 The $400B Agriculture Angle Nobody's Connecting How satellite-based Earth observation transforms Southeast Asian farming Thailand could gain $8-12B annually from precision agriculture Real-time insights: soil health, planting windows, pest prediction Why AcerX raised $30M+ to build this infrastructure now 🏗️ Infrastructure Gets Its God's-Eye View Mining companies using orbital imaging for mineral exploration Utilities gaining real-time grid monitoring capabilities Why Southeast Asia's equatorial position = massive strategic advantage Ground station networks as the next critical infrastructure moat 💰 Who's Building What (And Who's Getting Funded) AcerX (Singapore): $30M+ for satellite data platforms One Orbit: $12M for environmental monitoring LunaSat (Malaysia): Affordable small satellite manufacturing Planet Labs: $500M raised, largest Earth observation constellation ⏰ The 24-36 Month Window Why regional coordination matters right now What happens when infrastructure moats lock in Five tactical moves for AI, agriculture, and infrastructure founders Policy frameworks that need to exist yesterday KEY QUOTES "While Malaysia debates water usage for data centers and Singapore worries about electricity grids, Google's preparing to bypass all of it with orbital compute." - Kim "Southeast Asia is either positioning itself as the ground station hub for the orbital economy, or it's watching $100 billion in economic value flow elsewhere." - Kevin "Agriculture in this region is a $400 billion industry that's been fundamentally inefficient for centuries. Space-based analytics running in orbit and beaming down real-time insights changes everything." - Kim "The window for Southeast Asia to position itself in this ecosystem is 24-36 months. After that, the players are locked in and we're customers, not builders." - Kevin "I have to give credit where it's due: Elon Musk basically came in and inspired everyone to look at space as economically viable. Nobody was thinking about private sector space before SpaceX." - Kevin FEATURED DATA POINTS 🚀 Launch cost trajectory: $10,000/kg (2005) → $1,500/kg (2025) → $200/kg target (2035) ☀️ Solar collection efficiency: 8x more productive in space than terrestrial panels 💰 Economic opportunity: $100B+ potential GDP contribution to Southeast Asia 🌾 SEA agriculture market: $400B annually 📊 Thailand agriculture gains: $8-12B potential annual productivity increase ⚡ Power advantage: Constant solar (if positioned in dawn-dusk synchronous orbit) ❄️ Cooling advantage: Thermal radiation in vacuum = no water consumption 💸 Funding activity: AcerX: $30M+ raised (Singapore satellite data platforms) One Orbit: $12M raised (environmental monitoring) Planet Labs: $500M raised (largest Earth observation constellation) ⏱️ Latency advantage: 1-7ms orbital (vs 150ms trans-Pacific) 🛰️ StarCloud: NVIDIA-powered orbital data center launched November 2025 TACTICAL TAKEAWAYS FOR FOUNDERS If you're building AI: Map which workloads could migrate to orbital compute (training jobs especially) 30-40% cost reduction potential on frontier model training Build relationships with space tech companies now (AcerX, One Orbit) Factor orbital into your Series B infrastructure assumptions If you're in agriculture: Pilot satellite data integration immediately (don't wait for perfect tech) Partner with companies deploying Earth observation analytics Operational knowledge compounds—5-year head start matters Thailand, Vietnam, Indonesia = massive precision agriculture TAM If you're infrastructure/utilities: Real-time satellite analytics for grid monitoring, pipeline integrity Ground station partnerships should be strategic priority Asset tracking, disaster resilience, environmental compliance Government engagement needed now for spectrum/site allocation For all founders: Don't assume compute stays terrestrial forever Engage policy conversations on orbital infrastructure early Build optionality: not all-in on space, but not ignoring it The companies learning to operationalize space-based insights now win in 2030 For VCs: Space tech is no longer government-only domain Launch costs dropped to venture-backable levels Regional companies competing against Silicon Valley with 1/10th the capital Ground station infrastructure = strategic moat worth backing RESOURCES MENTIONED 📄 Google X: Project Suncatcher Research Paper 📄 SpaceX Launch Cost Analysis 2025 📄 Southeast Asia Agriculture Market Report 📄 Singapore Space Agency: Industry Updates 📄 StarCloud: NVIDIA Orbital Data Center Launch Announcement 📄 Planet Labs: Southeast Asia Partnership Programs 📄 AcerX: Satellite Data Platform for SEA Supply Chains 📄 One Orbit: Environmental Monitoring Constellation 📄 Malaysia LunaSat: Small Satellite Manufacturing COMPANIES TO WATCH Building in Southeast Asia: AcerX (Singapore): $30M+ raised, satellite data platforms for supply chains & agriculture One Orbit: $12M raised, AI-powered environmental monitoring constellation LunaSat (Malaysia): Affordable small satellite manufacturing for regional deployment Global Players Seeking SEA Partnerships: Planet Labs: $500M raised, largest Earth observation network, actively seeking SEA partnerships StarCloud: Just launched NVIDIA-powered orbital data center (Nov 2025) SpaceX: Targeting $200/kg launch costs by 2030 Blue Origin: Ramping up commercial launch operations 🔗 CONNECT WITH US 📧 Newsletter: https://seaofstartups.substack.com 💼 LinkedIn: Kim (WeiiSyuen) Yeoh: https://www.linkedin.com/in/weiisyuenyeohacmacgma/ Kevin Brockland: https://www.linkedin.com/in/kbrockland/ 🎧 Listen: Spotify: [Link] Apple Podcasts: [Link] YouTube: [Link] 💬 Comment below: Is your five-year plan accounting for orbital compute? Or are you assuming infrastructure stays terrestrial forever? TAGS space tech, orbital computing, Google Project Suncatcher, AI data centers, SpaceX, satellite technology, Southeast Asia startups, agriculture technology, precision farming, infrastructure innovation, venture capital, deep tech, AcerX Singapore, space industry, renewable energy, AI infrastructure, LEO satellites, Earth observation, ground station networks, digital infrastructure, ELon Musk, Steve Jobs WHAT'S NEXT Next episode: Interviewing the CEO of a solar company that just IPO'd—directly relevant to space-based power infrastructure discussion. Upcoming: More deep dives on infrastructure shifts reshaping Southeast Asia's tech ecosystem. 📌 PIN THIS: If you're building in AI, agriculture, logistics, or infrastructure in Southeast Asia, this episode is required listening. The decisions made in the next 24-36 months determine who participates vs. spectates in the $100B orbital economy. Share this with: Founders building deep tech or AI infrastructure VCs evaluating space tech investment opportunities Government officials planning digital infrastructure policy Anyone who thinks data centers will stay on Earth forever ⚡ VIRAL SHARE QUOTE: "Southeast Asia has 24-36 months to position itself as the ground station hub for orbital compute—or watch $100 billion in economic value get built elsewhere while we're still debating cooling systems." This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

    43 min

  3. 11/06/2025

    🎙EP 18: 400% Returns: How Transformational M&A and AI Will Redefine Southeast Asia’s Next Decade

    Episode Title: 400% Returns vs S&P: The 6 M&A Habits Turning Acquisitions Into Capability Machines THIS WEEK'S REALITY CHECK Companies that transform while they transact are delivering 400%+ returns vs the S&P 500 over the last decade. That's not incremental. That's a different category of value creation entirely. Deloitte just mapped how they do it: Six habits that separate transformational acquirers from traditional ones. Grab mastered 5 out of 6. Most Southeast Asian corporates? Still haven't shown up to the fight. This episode breaks down the playbook—and why Southeast Asia keeps getting M&A backwards. WHAT WE COVER 📊 The Numbers That Matter Why 400% outperformance isn't a fluke—it's a pattern How transformational M&A differs from traditional sequential approaches Why most Southeast Asian corporates are still using outdated playbooks 🎯 The Six Habits of Transformational Acquirers Leadership Mandate: C-suite strategy, not finance function Always-On Portfolio: Capability P&Ls, not just revenue P&Ls Transform As You Transact: Concurrent, not sequential AI at the Core: Business model shift, not cost optimization Power in Collaboration: Ecosystem plays, not solo execution Workforce for Tomorrow: People as bedrock, not afterthought 🏢 Southeast Asia Case Studies Grab: Programmatic capability stacking (but still not profitable) PropertyGuru: Pre-SPAC ecosystem building that attracted $1.1B private take-out DBS Bank: The 27,000-person tech company that happens to do banking 🤖 The AI M&A Future How AI changes targeting, diligence, integration, and synergy capture Why build vs buy calculus is shifting (and M&A volume will increase) The vibe coding question and what it means for Southeast Asia ⏰ The 24-Month Window Why the next 2 years determine the next decade What founders should do this quarter Why most local corporates will still get it wrong KEY QUOTES "If your M&A strategy is still 'integrate first, transform later,' you're bringing a butter knife to a lightsaber fight." - Kevin "Dead weight kills optionality. And Southeast Asian corporates are carrying a LOT of dead weight." - Kimberley "You're not buying revenue. You're buying capabilities. You're not integrating headcount. You're integrating ecosystems." - Kevin "Grab didn't succeed because they had the best technology. They succeeded because they built teams that understood Jakarta differently than Singapore." - Kimberley "The companies that move in the next 24 months will define the next decade. The ones that wait will watch the window close." - Kevin FEATURED DATA POINTS 📈 Transformational M&A returns: 400%+ vs S&P 500 (over 10 years) 📊 Deloitte report: Six habits of transformational acquirers 🏢 Grab acquisitions: Kudo, Bento, GrabInvest, Jaya Grocer, digital bank license 💰 PropertyGuru exit: $1.1B private take-out by EQT (2024) 🏦 DBS workforce: 27,000 people (tech company that does banking) ⏱️ Traditional integration timeline: 18+ months ⚡ AI-enabled integration: Near real-time synergy capture 📉 SEA M&A volume: Historically low, ticking up slowly 🎯 Timeline prediction: 3-5 years for local corporates to adopt programmatic M&A TACTICAL TAKEAWAYS For Founders: Five Decision Audit: Label last 5 strategic calls as defense vs offense. Rebalance if skewed. Live Capability Target List: 10 companies/partners/tech you could buy/partner/replicate. Refresh monthly. Board Agenda: Put transformation on board agenda with 3-5 year capability map. For Corporates: Treat M&A as C-suite strategy, not finance function Build capability P&Ls, not just revenue P&Ls Start transformation pre-deal, not post-integration Embed AI at the core of M&A process Build corp dev function if you don't have one For Investors: Track which companies are stacking capabilities vs chasing revenue Prioritize teams that understand ecosystem plays Watch for AI-enabled M&A processes as competitive advantage RESOURCES MENTIONED 📄 Deloitte Transformational M&A Report SHOW NOTES (DETAILED TIMESTAMPS) [00:00] Cold open: The gut check every SEA founder needs [01:01] The 400% number: Why transformational M&A outperforms [01:30] Six practices from Deloitte's new playbook [02:32] Old M&A vs transformational M&A: What actually changed [04:38] Southeast Asia receipts: Grab, PropertyGuru, DBS [08:21] PropertyGuru's capability thesis pre-SPAC [09:48] DBS masterclass: 27,000-person tech company [11:39] The build vs buy calculus is shifting [13:57] Vibe coding and what it means for M&A in SEA [17:12] Deloitte's six habits breakdown begins [18:30] Always-on portfolio: Capability P&Ls vs revenue P&Ls [ 21:20] Will startups still want to be acquired? [24:09] AI at the core: Not cost-out, business model shift [25:17] Power in collaboration: Why SEA is designed for this [27:34] The next 3-5 years: M&A volume predictions [28:52] AI-enabled M&A: Targeting, diligence, integration [31:05] Programmatic M&A: Will SEA corporates adopt it? [33:31] Catalyst analysis: What drives M&A volume increase [34:44] Family businesses and relationship-based economies [36:01] Why corporates keep losing: Bad tech experiences [37:12] Three reps to build your transformation muscle This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

    39 min
  4. 🎙️ EP 17: 680 Million People. 11 Regulatory Systems. 1 Opportunity: Turning ASEAN’s Chaos into Capital.

    10/29/2025

    🎙️ EP 17: 680 Million People. 11 Regulatory Systems. 1 Opportunity: Turning ASEAN’s Chaos into Capital.

    THIS WEEK'S REALITY CHECK The 47th ASEAN Summit just wrapped in Kuala Lumpur. Trump was there. China's Premier showed up. Everyone talked about integration. Meanwhile, the smartest founders in Southeast Asia are betting on something completely different: That the chaos isn't a bug—it's the entire competitive moat. This episode unpacks why ASEAN's fragmentation might be its biggest strategic advantage, and what founders need to do in the next 24 months before the window closes. WHAT WE COVER 🌏 The ASEAN Integration Paradox Why 58 years of "working toward unity" might be missing the point The middle child syndrome: Too big to ignore, too fragmented to dominate Why EU-style integration would probably destroy what makes SEA interesting 💰 Why Silicon Valley Keeps Failing Here Google, Uber, Amazon—the graveyard of Western tech in Southeast Asia How Grab succeeded where Uber failed (hint: it's not just execution) The competitive moat that only local players understand 🎯 The Strategic Non-Alignment Playbook Malaysia's simultaneous partnerships with China, UK, and U.S. Singapore's multi-ecosystem strategy How to become the Switzerland of the tech cold war 🏙️ The Tier One City Thesis Why KL has more in common with Bangkok than with Alor Setar How to think about regional expansion without waiting for perfect alignment The borderless team concept that actually works ⏰ The 24-Month Window Why the next 2 years determine the next 2 decades What happens when ecosystems lock in Five tactical moves that separate exits from shutdowns KEY QUOTES "What looks like chaos is just Southeast Asia building its own operating system." - Kevin "Grab took 12 years to navigate 11 different regulatory systems. That's not a bug. That's the training ground that creates anti-fragile companies." - Kimberly "The tier one cities have more in common with each other than they do with tier two cities in their own countries." - Kevin "Strategic non-alignment isn't fence-sitting. It's positioning yourself as the translator when two superpowers don't speak the same language." - Kimberly FEATURED DATA POINTS 🌏 ASEAN population: 680 million people (3rd largest market globally) 💰 Combined GDP: $4+ trillion 📊 ASEAN age: 58 years old (middle-aged in geopolitical terms) 🚀 Grab market presence: 12 years across 8 countries 🏢 SEA Group: 10+ years building in fragmented markets 🏛️ Number of ASEAN regulatory systems: 11 different frameworks 💳 Payment structures: 10+ different systems across region TACTICAL TAKEAWAYS FOR FOUNDERS If you're fundraising: Default to regional thinking from day one Plan for 24-30 month runways (not 18) Map policy advantages across markets systematically If you're scaling: Build borderless teams with deep local knowledge Study government priorities in each market Engage regulators as partners, not obstacles If you're entering SEA: Don't wait for perfect alignment—it's never coming Focus on tier one cities first Build for fragmentation, not uniformity RESOURCES MENTIONED 📄 47th ASEAN Summit Outcomes (May 2025) 📄 Malaysia-US Trade Agreement Details 📄 ASEAN Digital Economy Framework 📄 Startup ASEAN Summit Agenda 🔗 CONNECT WITH US: 💼 LinkedIn: Kim Yeoh and Kevin Brockland 📧 Newsletter:https://seaofstartups.substack.com/ ALSO ON: Apple Podcast and Youtube TAGS: ASEAN, Southeast Asia, startups, venture capital, regional expansion, fragmentation, competitive strategy, market entry, emerging markets, Grab, SEA Group, government relations, cross-border business, tech ecosystem, strategic partnerships This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

    35 min
  5. 🎙️ EP 16: The $1 Trillion AI Feedback Loop: Why OpenAI's Circular Deals Will Either Create the Future or Collapse Like Cisco in 2000

    10/16/2025

    🎙️ EP 16: The $1 Trillion AI Feedback Loop: Why OpenAI's Circular Deals Will Either Create the Future or Collapse Like Cisco in 2000

    Your grandmother probably thinks AI is just fancy autocomplete. Your investors think it’s the next industrial revolution. Both might be right. And that’s exactly the problem. Welcome to the most expensive game of musical chairs in human history. In October 2025, OpenAI—the company that made you question whether your job is safe—signed roughly $1 trillion worth of deals. Not over decades. Not in theoretical future value. One trillion dollars in commitments that locked together the biggest names in tech like a high-stakes game of Twister. Nvidia committed up to $100 billion to OpenAI’s data centers. AMD followed with tens of billions more. Oracle inked a $300 billion cloud contract. Each company took equity stakes in OpenAI while simultaneously becoming its customer and supplier. It’s beautiful. It’s terrifying. And if you’re building anything in Southeast Asia, it’s about to force your hand. The Flywheel That Might Break the World Here’s what’s actually happening beneath the surface of those press releases. OpenAI needs computing power—not just a lot, but an almost incomprehensible amount. We’re talking 20 gigawatts worth of data centers. That’s the output of 20 nuclear reactors, running continuously, just to train the next generation of AI models. They can’t pay for this upfront. So they’ve structured deals where chipmakers like Nvidia essentially finance OpenAI’s infrastructure in exchange for guaranteed orders. Nvidia’s money buys data centers filled with... Nvidia chips. Which OpenAI uses to train AI models. Which drives demand for more Nvidia chips. Which justifies Nvidia’s stock price. Which gives Nvidia more currency (in the form of valuable equity) to invest in... OpenAI. See the loop? Now multiply this across AMD, Oracle, Microsoft, and a web of cloud providers and startups. Everyone is simultaneously the investor, the customer, and the supplier. Capital flows in a perfect circle, each deal reinforcing the next, each rising stock price validating the previous bet. This is either the most sophisticated value-creation flywheel ever constructed, or it’s vendor financing on steroids. The Cisco Parallel Nobody Wants to Talk About If you’re over 35, you remember what happened to Cisco Systems. Late 1990s. Internet boom. Cisco was the arms dealer of the dot-com gold rush—selling routers and networking equipment to every startup that raised venture capital. Their stock went parabolic. They briefly became the most valuable company on Earth. Then came the vendor financing strategy. Cisco would invest in or loan money to internet companies... so those companies could turn around and buy Cisco equipment. Revenue exploded. Wall Street cheered. Cisco executives became billionaires. Until the music stopped. When the dot-com bubble burst in 2000, Cisco discovered that a huge chunk of their “revenue” was actually just their own money cycling through customer companies. Those customers went bankrupt. Cisco’s stock dropped 90%. The playbook that seemed genius became the textbook example of bubble economics. Nvidia’s $100 billion stake in OpenAI looks uncomfortably similar. Is this time different? Maybe. AI is real in a way many dot-com businesses weren’t. ChatGPT has 200 million users. Companies are deploying AI in actual workflows, not just buying vaporware. But here’s the uncomfortable question: How much of AI’s current growth is real demand versus artificially inflated demand created by these circular financing arrangements? Why This Matters for Southeast Asia (And Why You Have Less Time Than You Think) While this trillion-dollar poker game plays out in Silicon Valley and Shenzhen, Southeast Asia is being forced to make a choice it didn’t ask for. Do we join this ecosystem on whatever terms we can get? Or do we try to build our own capabilities knowing we’re years behind? The honest answer: We need to do both. And we have maybe 24 months before the window closes. Here’s why the timeline is so tight. Right now, these mega-deals are still being structured. Standards are still fluid. The technology stack is still evolving. There’s room for regional players to position themselves as integration layers, deployment partners, or specialized service providers. But once these circular deals lock in—once Nvidia’s chips only work seamlessly with Microsoft’s cloud which only optimizes for OpenAI’s models—the interoperability window slams shut. You’re either inside the ecosystem or permanently outside it. And if you’re outside? Good luck competing when your opponent has access to computing power you can’t afford, AI models you can’t replicate, and partnership networks you can’t penetrate. This is the new digital divide, and it’s being drawn right now. The Robot Revolution Nobody’s Pricing In If the AI investment loop was just about software and cloud services, we could debate whether it’s sustainable. But there’s a second wave coming that changes everything: embodied AI. Translation: Robots with AI brains, walking around in the physical world. July 2025. Shanghai. World Artificial Intelligence Conference. Over 150 humanoid robots on display. Chinese companies selling working humanoids for $16,000. Some models as low as $5,900. Morgan Stanley just published research projecting the humanoid robotics market could hit $5 trillion in annual revenue by 2050. That’s twice the size of the global automotive industry. Let that sink in. We’re not talking about science fiction or distant futures. We’re talking about a trillion-dollar manufacturing ecosystem that needs to get built in the next 10-15 years. And Southeast Asia has a real shot at being a major player—but only if we move now. Why China Is Winning the Robot Race (And What We Can Learn) Here’s the uncomfortable geopolitical truth: China is currently best-positioned to dominate “embodied AI.” Not because they have the best AI research (though they’re closing the gap fast). But because they’ve cracked three things that matter more than pure technology: 1. Manufacturing ecosystem at scale. China can produce robots cheaper and faster than anyone else. Their supply chains for motors, sensors, batteries, and materials are unmatched. 2. Guaranteed internal demand. Chinese state-owned enterprises will buy domestic robots as a matter of policy. That gives Chinese robotics companies a market to refine their products before going global. 3. Strategic patience combined with tactical speed. Beijing identified robotics as a national priority years ago. They’re playing a 20-year game with 6-month sprints. Meanwhile, American robotics CEOs went to Congress in 2025 literally begging for a national strategy, warning that without coordinated policy and investment, the U.S. will lose both the robotics race and, by extension, the AI race. The robots are where AI’s economic value gets captured. If you lose robots, you lose AI. Where does that leave Southeast Asia? The Strategic Non-Alignment Playbook Here’s the move: Southeast Asia should become the Switzerland of the AI-robotics cold war. Not in the sense of being neutral and boring. In the sense of being the place where East meets West, where interoperability gets figured out, where multiple tech ecosystems coexist and connect. Malaysia is already doing this. They signed AI cooperation agreements with China while simultaneously licensing chip design technology from UK-based Arm and partnering with U.S. firms on industrial automation. They’re building relationships on all sides while developing domestic capability so they’re not completely dependent on anyone. Singapore is even more sophisticated. They use Chinese robotics for some infrastructure, Western AI for financial services, and invest heavily in their own research. They’re building genuine optionality. This isn’t fence-sitting. It’s strategic positioning. Because here’s what most people miss: The company or country that can integrate Chinese hardware with Western software with local applications becomes incredibly valuable. You’re the translator in a world where two superpowers speak different languages. But this only works if you have actual capability, not just diplomatic skill. You need engineers who understand both ecosystems. You need companies that can deploy and maintain robots regardless of where they’re manufactured. You need software that works across platforms. Building that takes time. Hence: 24 months. What Founders Should Actually Do This Quarter Enough strategy. Let’s get tactical. If you’re a founder or operator in Southeast Asia right now, here are five moves that matter: 1. Pilot robots now, even if they’re imperfect. Don’t wait for mature technology. If you’re in manufacturing, logistics, or warehousing, start testing robot deployment today. The companies that learn how to integrate robots with human workflows now will have compounding advantages by 2030. The cost of being five years behind in operational knowledge will vastly exceed the cost of adopting imperfect technology today. 2. Build the integration layer, not the hardware. Unless you’re exceptionally well-funded, don’t try to compete with Chinese firms on robot hardware or Western firms on foundational AI. Instead, build the software and services that make those technologies useful in Southeast Asian contexts. A robot designed for a Japanese factory doesn’t automatically work in an Indonesian palm oil plantation. Someone needs to adapt it. That someone could be you. 3. Make your pitch anti-fragile. If you’re fundraising, assume it will take twice as long as you think and that 80% of pitches will fail. That’s not pessimism—that’s the new baseline. Series A deal volume is down 18%, dollars deployed down 23%, and median fundraising timeline has stretched to 20+ months. Build your financial model assuming you need 24-30 months of runway, not 18. 4. Get specific a

    50 min

  6. 10/09/2025

    🎙️ EP 15:When Regulators Win: What Singapore's Robotaxi Rollout Reveals About the Future of Deep Tech"

    When Regulators Win: What Singapore's Robotaxi Rollout Reveals About the Future of Deep Tech While Silicon Valley's AV companies fought regulators and burned billions, Singapore just orchestrated the future of transportation. WeRide partnered with Grab. Pony.ai partnered with ComfortDelGro. Both launching in 2025. This isn't just about self-driving cars. It's about how deep tech scales when you work WITH regulators instead of against them. Meanwhile, Series A funding collapsed 23% year-over-year. Fundraising timelines stretched to 3.5 years for many companies. The easy money era is over. This episode connects autonomous vehicles, strategic partnerships, and the brutal fundraising reality of 2025. If you're building deep tech or raising in Southeast Asia, this is required listening. WHAT WE COVER 🚗 The Singapore AV Strategy Why WeRide + Grab partnership changes everything What Pony.ai brings to ComfortDelGro How Singapore's Land Transport Authority orchestrates (not just approves) innovation 💸 The Series A Apocalypse Funding down 23%, deal volume down 18% Median time Seed→Series A: 20 months (but 3.5 years for many) Hot sectors vs cold sectors: Where money is actually flowing 🎯 Strategic Partnerships vs Solo Execution The question every deep tech founder must ask Why being a vendor means you have no leverage How to become a strategic partner instead 🔥 The AI Hype Reality Check What investors actually ask about AI startups How to tell if you're AI-washing your pitch When to force the AI angle (hint: never) 📊 What's Actually Working in 2025 The death of triple-triple-double-double-double 5 things Southeast Asia founders must internalize Why government backing is your fastest path to scale In This Episode: [00:00] Intro: Continuing from climate tech and policy dynamics [02:01] WeRide + Grab and Pony.ai + ComfortDelGro partnerships in Singapore [05:22] US vs Singapore AV playbook: Chaos vs orchestration [10:13] Why Punggol is the perfect testbed for autonomous vehicles [15:16] Building trust through strategic partnerships and familiar brands [18:24] The fundraising apocalypse: Series A down 23% [22:06] Hot vs cold sectors: What's actually getting funded in 2025 [25:12] The death of triple-triple-double-double growth expectations [27:24] Why Southeast Asia needed this correction [31:52] Practical advice: Extended runway planning for founders 💡 KEY TAKEAWAYS: ✅ Strategic partnerships > solo execution in deep tech ✅ Series A funding is down 23% YoY—plan for 2x longer fundraising timelines ✅ If you're a vendor, you have no leverage. Be a strategic partner. ✅ Singapore's government-orchestrated approach scales faster than Silicon Valley's chaos ✅ Extended runway (24-30 months) isn't optional—it's survival 📊 FEATURED DATA POINTS & SOURCES : 📉 Series A dollars deployed: Down 23% YoY 📉 Series A deal volume: Down 18% YoY ⏱️ Median Seed→Series A time: 20 months (up to 3.5 years for many) 🚗 WeRide autonomous driving: 50M+ kilometres 🚗 Waymo 2024 rides: 4M+ rides, 96M projected miles by mid-2025 🇸🇬 Pony.ai-ComfortDelGro MoU: July 2024 🇸🇬 Grab Ai.R launch: September 2025 SOURCES: Grab Singapore press release (Sept 2025) Pony.ai investor relations announcements (Sept 2025) Land Transport Authority AV trial data Carta Series A market report Waymo operational metrics FOR FOUNDERS LISTENING If you're fundraising right now: Plan for timelines 2x longer than you think Raise 24-30 months runway, not 18 Have burn reduction plan BEFORE you need it If you're building deep tech: Identify established players who need you Position as strategic partner, not vendor Work WITH regulators, not around them If you're in Southeast Asia: Stop copying Silicon Valley playbooks Government isn't your enemy—it's your accelerant Build for the market you're actually in 🎙️ ABOUT SEA OF STARTUPS: Sea of Startups is your weekly reality check for building in Southeast Asia. Hosted by Kimberly Yeoh and Kevin Brockland, we cover what's actually happening in the ecosystem—no fluff, no hype, just the truth about fundraising, regulation, and what it takes to build here. 🔗 CONNECT WITH US: 💼 LinkedIn: Kimberly Yeohhttps://www.linkedin.com/in/weiisyuenyeohacmacgma/ | Kevin Brockland:https://www.linkedin.com/in/kbrockland/ 📧 Newsletter: https://seaofstartups.substack.com 📌 MENTIONED IN THIS EPISODE: WeRide (autonomous vehicle technology) Grab (Southeast Asia ride-hailing) Pony.ai (Chinese AV company) ComfortDelGro (Singapore transportation) Waymo (Google's AV division) Cruise (GM's AV company - shut down SF operations) Land Transport Authority Singapore Carta (startup cap table platform) 🏷️ TAGS: #AutonomousVehicles #Singapore #StartupFunding #SeriesA #SoutheastAsia #VentureCapital #Waymo #Grab #WeRide #PonyAI #DeepTech #AIStartups #FundraisingTips #StartupStrategy #TechInvestment #SmartCities #Robotaxi #ComfortDelGro #LandTransportAuthority #SEAStartups 💬 JOIN THE CONVERSATION: What are you seeing in your market? Are strategic partnerships the new playbook, or are you still going solo? Drop a comment below. Subscribe for weekly insights on building in Southeast Asia 👇 ⚠️ DISCLAIMER: All views expressed are personal opinions and do not represent any organizations mentioned. This content is for informational purposes only and should not be considered investment advice. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

    33 min
  7. 🎙️ EP 14: Heat, Hype & Hard Truths: Why Climate Tech Keeps Failing in Southeast Asia’s Torture Chamber (And How Founders Can Survive It)

    10/01/2025

    🎙️ EP 14: Heat, Hype & Hard Truths: Why Climate Tech Keeps Failing in Southeast Asia’s Torture Chamber (And How Founders Can Survive It)

    Your battery just died. Not your phone—your entire business model. This week on Sea of Startups, we're diving into why most climate tech fails within months in Southeast Asia, how tropical conditions are a torture chamber for hardware, and why the smartest founders are turning brutal constraints into billion-dollar competitive advantages. Plus: Why Chinese AV companies are playing a completely different game in Singapore, and fresh Series A data that might make you cry into your pitch deck (but also why this might be the best time to build). What You'll Learn: Why 90% of battery technologies fail in tropical conditions and what to do about it The four frameworks climate tech founders need to survive Southeast Asia's regulatory maze How software-defined adaptation is beating hardware brute force Why Singapore's autonomous vehicle strategy looks nothing like Silicon Valley's approach The brutal truth about Series A fundraising in 2025 Featured Topics: Tropical Batteries Report 2025 from Malaysia's SEDA and Cicero Climate tech hardware survival strategies Energy policy challenges across Southeast Asia markets Autonomous vehicle partnerships in Singapore (Pony.ai, WeRide) Series A fundraising reality check with Carta data Timestamps: 00:00 - Introduction: Heat, Hype, and Hard Truths 01:15 - The Adapter That Couldn't Adapt 05:30 - Tropical Batteries Report 2025: Why Hardware Dies in SEA 09:45 - Three Engineering Strategies (And Why Software Wins) 15:20 - The Policy Problem: When Regulators Block Innovation 22:40 - Four Frameworks for Climate Tech Survival 28:48 - Segment Transition: From Climate Heat to AV Hype Key Quotes: "Southeast Asia isn't just a market. It's a torture chamber for hardware." "If your adapter can't survive Southeast Asia, neither can your startup." "Don't think of tropical conditions as a constraint. Think of them as a feature." "The real competitive advantage isn't having the best technology. It's having technology that regulators understand, incumbents can partner with, and customers can actually deploy." Resources Mentioned: Tropical Batteries Report 2025 (SEDA Malaysia & Cicero) Malaysia's Sustainable Energy Development Authority (SEDA) PTT, EGAT, Petronas, Pertamina energy programs Shell LiveWire program Hosts: Kimberley (Kim) Yeoh - @WeiiSyuenYeoh Kevin Brockland - @KevinBrockland SEGMENT 1: TROPICAL CLIMATE TECH - THE TORTURE CHAMBER (00:00 - 28:48) The Core Problem: Most battery storage technologies were designed for temperate climates (Silicon Valley garages, German engineering labs), not Southeast Asia's brutal conditions: Daily temperatures: 35°C+ (surface temps hit 60°C on rooftops) Humidity: 90% for months at a time Salt spray near coasts Biblical rain patterns Thermal cycling causing mechanical stress Real-World Impact: Lithium-ion cells that should last 10 years only reach 60% of expected lifespan Electronic components corrode rapidly Housing cracks from thermal cycling Warranty claims sink company valuations The Report: Tropical Batteries Report 2025 from Malaysia's SEDA (Sustainable Energy Development Authority) and CSIRO provides the first comprehensive playbook for hardware founders building in tropical markets. https://www.csiro.au/en/research/technology-space/energy/Electricity-transition/Southeast-Asia/tropical-batteries-Malaysia Malaysia's Context: Target: 70% renewable energy by 2050 Battery storage is critical for grid stability But current technologies aren't built for these conditions Three Engineering Strategies: Engineer the Environment (Reactive) Active cooling systems Heat-dissipating materials Smarter packaging Problem: Adds cost and complexity without solving root cause Different Chemistry (Better, but limited) Sodium-ion batteries: Better heat tolerance, less energy dense Iron-air batteries: Incredibly robust, slower charge/discharge Sand batteries: Trap and hold heat (Vietnam example) Problem: Still competing on manufacturing scale with Chinese giants Software-Defined Adaptation (The Winner) Predictive thermal management Dynamic load balancing Weather-aware charge/discharge algorithms Advantage: Compete on intelligence, not manufacturing scale Startup-friendly and defensible The Policy Elephant: Technology is only half the battle. Energy policy often works against startups: Thailand Example: Ambitious renewable goals on paper Reality: Energy sector dominated by massive incumbents Peer-to-peer energy trading technically feasible but legally gray Result: "Behind-the-meter" projects only (on-site consumption, can't scale to grid) The Structural Challenge: What works in Singapore doesn't work in Indonesia What's legal in Malaysia might be restricted in Vietnam Different regulatory approaches across 11 Southeast Asian markets Different incumbent interests and political sensitivities Four Survival Frameworks: Framework 1: Environmental Design Thinking Don't just stress test in labs Get into real tropical conditions ASAP Partner with universities in Malaysia, Indonesia, Philippines Set up test installations in actual field conditions Fail fast and cheap in R&D, not after scaling manufacturing Framework 2: Regulatory Arbitrage Strategy Find pockets where policy already supports your model Malaysia: Feed-in tariffs and net metering policies support distributed solar + storage Singapore: Regulatory sandboxes for energy innovation Start there, prove model works, then expand to trickier markets Framework 3: Stakeholder Ecosystem Mapping Map key players for every target market: regulators, incumbent utilities, local partners Thailand: Partner with PTT or EGAT instead of disrupting them Malaysia: Work with Petronas Indonesia: Engage with Pertamina All have CVC arms and innovation programs looking for partnerships Shell's LiveWire program operates across the region Framework 4: Climate Adaptation as Competitive Advantage Don't view tropical conditions as constraint—it's a feature If hardware survives 35°C heat + 90% humidity, it works anywhere Tropical market = Southeast Asia + huge chunks of Africa, Latin America, India, Middle East Torture chamber produces the strongest survivors The Meta Lesson: Climate tech is a systems challenge, not just engineering: Building better batteries that work within political, regulatory, climate realities Building systems that intelligently adapt vs. brute-forcing solutions Building partnerships with incumbents vs. declaring war Building for business model sustainability from day one Smart Founder Strategy: Spend as much time in government ministries as in labs. Don't just build tech—help shape regulations that determine whether tech can scale. Become part of the policy conversation, not an obstacle to it. SEGMENT 2: AUTONOMOUS VEHICLES IN SINGAPORE (Teased at 28:48) The Setup: Chinese companies Pony.ai and WeRide launching autonomous shuttles in Punggol, Singapore. But their strategy looks nothing like Silicon Valley's "move fast and break things" approach. Key Insight Preview: They're playing a completely different game—and it might be genius. (Full segment to be covered in next episode) SEGMENT 3: SERIES A FUNDRAISING REALITY CHECK (Teased) What's Coming: Fresh data from Carta Insider commentary from VC circles Numbers that might make you cry into your pitch deck Why this might actually be the best time to build if you're smart about it (Full segment to be covered in next episode) ACTIONABLE TAKEAWAYS For Climate Tech Founders: ✅ Test in real tropical conditions early—don't wait until post-manufacturing ✅ Consider software-defined adaptation over hardware brute force ✅ Map regulatory landscape before scaling—find friendly markets first ✅ Partner with incumbents rather than fighting them ✅ Position tropical durability as global competitive advantage For Investors: ✅ Due diligence must include field testing in deployment environments ✅ Account for regulatory risk, not just technology risk ✅ Demand unit economics from day one, not just deployment numbers ✅ Evaluate founder's understanding of policy landscape For Corporate Executives: ✅ Partner with startups solving real problems, not pitching moonshots ✅ Ensure digital transformation infrastructure works in actual operating conditions ✅ Make strategic investments that support ecosystem resilience CONNECT WITH US Subscribe to Sea of Startups: 🎧 Spotify: https://open.spotify.com/show/0k6pc3PvXDeSltPINsBkJy?si=abfb938374b64ca7 Apple Podcasts https://podcasts.apple.com/us/podcast/sea-of-startups/id1641090926 YouTube: https://www.youtube.com/@SEAofStartups Follow the Hosts: 💼 Kim (WeiiSyuen Yeoh) on LinkedIn 💼 Kevin Brockland on LinkedIn Join the Conversation: Is your hardware actually tropical-ready, or did you just check a box on a spec sheet? Share your experiences in the comments. MENTIONED IN THIS EPISODE Organizations: Malaysia's Sustainable Energy Development Authority (SEDA) CSIRO PTT (Thailand) EGAT (Thailand) Petronas (Malaysia) Pertamina (Indonesia) Shell LiveWire program Topics: Tropical Batteries Report 2025 Lithium-ion vs sodium-ion vs iron-air batteries Sand battery technology (Vietnam) Feed-in tariffs and net metering Behind-the-meter projects Regulatory sandboxes Peer-to-peer energy trading Upcoming: Pony.ai and WeRide autonomous vehicle partnerships Series A fundraising with Carta data Special guest on distributed energy (launching end of year) TAGS & KEYWORDS #ClimateTeч #TropicalBatteries #HardwareStartups #SoutheastAsiaStartups #RenewableEnergy #EnergyStorage #MalaysiaTech #BatteryTechnology #CleanEnergy #StartupStrategy #RegulatoryStrategy #EnergyPolicy #SEDA #TropicalConditions #SustainableTech #SEAofStartups Next Episode Preview: We'll dive into why Chinese AV companies are taking a radically different approach in Singapore, plus the Series A data that's separating winners from cautionary tales. Stay tuned. Disclaimer: All views and opinions expressed are those of the hosts and do not represent any organiza

    30 min
  8. 🎙️ EP 13:The $12B Unicorn Teaching This Malaysian Founder How to Scale Without Losing His Soul

    09/25/2025

    🎙️ EP 13:The $12B Unicorn Teaching This Malaysian Founder How to Scale Without Losing His Soul

    This conversation explores the messy middle of entrepreneurship through Ryan Ng’s unique journey of building YouDigital while leading APAC expansion at $12B unicorn Deel. We dive into cultural barriers holding back Southeast Asian professionals, the myth of work-life balance, and what it really takes to build something meaningful while maintaining financial stability. ⏱️ Key Topics Discussed The Deel Experience (05:00–10:30) Inside the world’s largest remote company Scaling across ASEAN’s complex regulatory landscape From LinkedIn’s “bullet train” to Deel’s “rocket ship” Managing 24/7 Slack notifications across time zones The Paiseh Problem (17:00–22:30) Southeast Asia’s cultural humility vs. global visibility requirements Why opportunities go to the most visible, not the best person The cost of staying silent in today’s professional landscape Breaking free from “let your work speak for itself” mentality The YouDigital Origin Story (20:00–27:00) The moment Ryan couldn’t not build something From LinkedIn DMs to TikTok content in Bahasa Malaysia The nine-month transformation of a bypassed professional Expanding from Malaysia to inquiries from Botswana and Spain Building While Employed (27:00–35:00) Why Ryan didn’t quit his day job (and why that’s strategic) The unfair advantage of financial stability while building Transparency with managers and avoiding conflicts of interest Choosing harmony over balance: “Balance is a trap” Family Dynamics (35:00–47:00) Honest conversations with his wife about opportunity costs The end of weekly “Fridates” and adjusted holiday schedules Raising a three-year-old while juggling two demanding roles When your toddler crashes Zoom calls with enterprise clients The Visibility Challenge (47:00–52:00) “You don’t have to be loud to be powerful” Leadership without a leadership title The infrastructure of professional development in Southeast Asia Cultural authenticity as competitive advantage 💬 Memorable Quotes “The opportunities always go to not the best person but the person that’s most visible.” “You shouldn’t try to aim for balance, right? Try to aim for harmony instead, because balance is a trap.” “Hit that post button. Post something honest. Just post that being genuine and hit that button.” ⚡ Rapid Fire Insights Biggest fear holding back SEA professionals: Fear of being visible before feeling 100% ready Monthly question every professional should ask: “What do they want to be known for? And how are they showing up?” Key mindset shift for side project builders: Don’t be a perfectionist – be comfortable with uncertainties and different seasons One action to improve visibility this week: Hit publish on something honest and genuine 🔗 Resources Mentioned YouDigital → youdigital.asia Deel → Global HR tech unicorn valued at $12B TikTok Content → Career advice in Bahasa Malaysia Slush’D Penang → Where Kim and Ryan first connected 👤 Connect with Ryan Ng YouDigital → youdigital.asia LinkedIn → Ryan Ng LinkedIn Profile 📝 About Ryan Ng Ryan Ng is a Southeast Asian thought leader in career and personal branding, with over 18 years of experience spanning Canon, LinkedIn, Deel, and now YouDigital. Followed by more than 35,000 on TikTok and widely recognised for his thought leadership on LinkedIn, Ryan makes career insights relatable, practical, and actionable for today’s talent. Currently Founder & CEO of YouDigital, Ryan partners with universities, corporates, and government agencies to help students, founders, mid-careerists, and professionals build visibility and opportunity readiness. He also serves as an Adjunct Mentor at INTI, guiding design-thinking projects and mentoring the next generation of leaders. Previously at LinkedIn, Ryan led public sector workforce programmes across Malaysia, working alongside government agencies to shape employability and economic growth strategies. At Deel, the world’s fastest-growing HR tech startup, he drove regional expansion across ASEAN, advising multinationals on global hiring and compliance. Ryan has been a speaker at Slush’d Penang, AmCham, Taylor’s University, UiTM, MDEC, and TalentCorp events, and served as a panel judge for TalentCorp’s Life at Work Awards, underlining his commitment to strengthening Malaysia’s and ASEAN’s talent ecosystem. Through his work, Ryan believes in a simple truth: the best opportunities don’t always go to the most qualified — they go to the most visible. His mission is to ensure Southeast Asians are not just ready for opportunities, but noticed and chosen. In a world where AI can replicate skills, the one thing it can’t replace is your brand. 🌊 SEA of Startups — Support & Stay Connected 🙌 Support the ShowIf this episode made you rethink what “ecosystem building” really means:👉 Tap Follow on Spotify🔔 Turn on notifications so you never miss a new drop⭐ Leave us a 5-star rating & review📤 Share this episode with a founder or operator navigating cross-border challenges 💬 Let’s Connect Kim Yeoh → LinkedIn Kevin Brockland → LinkedIn Newsletter → Subscribe on Substack 🌐 Follow us for more stories: Spotify → Follow SEA of Startups LinkedIn → SEA of Startups LinkedIn Page Substack → seaofstartups.substack.com 🌊 SEA of Startups is where the region’s real startup stories live. No puff pieces. No fluff. Just what’s actually happening under the surface. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

    1h 2m
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🎙 SEA of Startups Decoding the pulse of founders, capital, and conviction in Southeast Asia. This isn’t another “startup success” show — it’s the real conversation behind what actually works (and what doesn’t) when you’re building, funding, or navigating the region’s wild, ambitious ecosystem. From Singapore’s capital corridors to Jakarta’s chaos, Manila’s energy to Ho Chi Minh’s grit — we unpack how ambition, culture, and capital collide. Expect deep dives into founder psychology, venture strategy, and the unspoken truths shaping Southeast Asia’s next decade. Hosted by Kim Yeoh and Kevin Brockland, it’s where strategy meets psychology — a mirror to the builders and believers shaping Southeast Asia. Part strategy, part soul — unfiltered, intelligent, and entirely real. seaofstartups.substack.com

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  • Creator
    Decoding the Pulse of Founders, Capital & Conviction in Southeast Asia.
  • Years Active
    2022 - 2025
  • Episodes
    66
  • Rating
    Clean
  • Copyright
    © Sea of Startups
  • Show Website
    SEA of Startups