Can South-East Asian tech’s hot streak last?
Foreign investors cannot get enough of their regional unicorns. "Wall Street, in other words, has finally woken up to South-East Asia’s great promise. The region is more populous than the European Union or North America. Its economies are growing fast. Wealthy, English-speaking Singapore at its heart is a global financial centre, with all the bankers, lawyers, consultants, admen and creative types that a modern firm needs. Critically, American and Chinese tech giants have a patchy record of coping with the region’s archipelagic geography, potholed roads and unbanked masses. Besides Uber’s abortive foray, China’s Alibaba has struggled to turn around Lazada, a regional e-commerce firm it bought in 2016. Meanwhile, local internet firms have thrived. As they grow they will face another challenge: bumping into each other."
From The Economist