Energy is infectious, so pick your tribe

Welcome to Tech in Asia’s Sunday newsletter, your weekend brief on the biggest moves in Asia’s tech and startup world. Not on the mailing list? Register here. Got a story tip? Send it to editors@techinasia.com.

In focus

• Melissa Goh on why whether we’re in an AI bubble depends on who you ask
• Game developers making a killing in Singapore
• Viber faces a big payments puzzle – one we’ve seen before

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Hello reader,

Choose your circle wisely, they say.

As a teenager growing up in Poland, Mati Staniszewski surrounded himself with friends – including his eventual co-founder Piotr Dąbkowski – who motivated each other to “explore more, learn more, and do more” as they aimed to get into the best schools and crush the next exam.

That same hunger fueled Staniszewski and Dąbkowski to start ElevenLabs years later, and they’re trying to replicate that group energy at the AI voice-generating company by keeping the density of talent as high as possible.

I spoke to Staniszewski during his brief stop in Singapore last week, and he shared that ElevenLabs has crossed US$300 million in annual recurring revenue. We also spoke about where the future of voice AI is heading.

Possessing strong self-belief is essential as a founder – perhaps even more so in a field like AI. When the stakes are this high, surrounding yourself with the smartest people and staunchest believers is half the battle won.

It can also fuel your optimism. Staniszewski, for instance, disagrees that we’re in an AI bubble, largely because most firms offer “real use cases.” He thinks that foundationally changing technologies, like those that put intelligence in the hands of the average person, could even be undervalued.

AI isn’t the only area worth cheering about.

My colleague Miguel found that last year, three major game developers in Singapore collectively raked in billions of dollars in revenue.

Whether it’s trading in-game currency for heroes or selling character skins, each company is playing its own game (pun intended) and winning.

Like these gaming majors, monetization will be weighing on Viber’s mind as it works its way around regulatory challenges in the Philippines. How the company handles this will determine whether it will remain a messaging app or become something more, my colleague Elyssa Lopez writes.

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