radical candour from a deep generalist
Quite the reversal from the Oracle or Omaha:
The dominance of tech stocks has forced some of the best investing minds—including Warren Buffett himself—to reexamine their thinking.
— Read on fortune.com/longform/value-investing-warren-buffett-tech-stocks/
Nice time to be investing in SEA
Boom!
Investing in Southeast Asia: What’s Behind the Boom – Bain & Company:
At a Glance
Bain research shows that Southeast Asia’s investment ecosystem is entering a new phase of growth. We expect that by 2024, the region will give rise to at least 10 new companies with a market value of more than $1 billion each.
More than 1,300 companies in Southeast Asia received a first round of seed financing since 2011, including 261 in 2017—five times the level of 2011.
Total deal value over the next five years is likely to reach $70 billion, double the level of the previous five years.
Largest VC backed software acquisition ever!
SAP Buys Qualtrics; 2018 Catapulted to $65B in $1B+ M&A Volume • Tomasz Tunguz:
Qualtrics fetched 23x trailing twelve months revenue multiple. This is the second largest among those I have tracked. The only one greater is the Microsoft/Github acquisition, which is based on press reports of Github’s revenue. Each of the other data points is substantiated through public investor disclosures. It’s the largest ever VC backed software acquisition. Congratulations to the Qualtrics team!
Good writeup on what is happening with SEA region and the tech scene.
Nice pomelo plug as well.
Dovetails well with this as well :: https://seedvc.blog/2018/10/25/rise-of-the-global-startup-city/
Southeast Asian tech hubs race to become the next Silicon Valley – Nikkei Asian Review
The Evolving Role Of Crypto Investors – Multicoin Capital
Still digesting.
Super cool report out about global startup cities :: Rise of the Global Startup City
The entire PDF can be found here :: http://startupsusa.org/global-startup-cities/report.pdf
Some snapshots I find interesting.
Top 10:
The cities with the most growth – wow Bangkok but SEA cities get 3 out of the top 10:
This next one I really love which shows which cities have the most investment per capita. Which means when you think about the reverse of this just note that when people talk about SEA region being frothy or too much capital the actual truth it is that it is just getting started and there is not enough capital to cover the future given the amount invested per capita:
Gonna dig in some more to read the full report.
Should probably end with this one:
Good read. Complicated subject since anytime a VC wanna governance it is usually taken to mean not founder friendly these days.
Tough one. I think we have to start aligning around “company friendly” which means governance since the board and the VC are there to protect the company.
Tech Founders’ Absolute Power Is Destroying Company Culture | WIRED
Hope more folks than Fred start beating this drum.
Seems most folks have lost track of what KYC actually means these days.
Cool to hear Amit on the radio:
Amit Anand, Managing Partner/Co-Founder, Jungle Ventures, joined Rishaad Salamat and Bryan Curtis on Daybreak Asia to discuss investment opportunities in South East Asia. He looks into the explosion in internet users across the region, how start-ups are taking advantage of that and some of the most interesting companies he has invested in.
— Read on www.bloomberg.com/
Still trying to wrap my head around this concept.
I might read the book but this deck is a good place to start.
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