IN FOCUS
In today’s newsletter, we look at:
- Southeast Asian startups are expanding to Latin America. What gives?
- Donald Trump’s victory and its impact on the crypto world
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Hi there,
Years ago, my brother left Indonesia to open a restaurant in neighboring Timor-Leste. He relied on his gut instinct and a friend’s advice instead of doing proper research before making the move.
Long story short, it didn’t work out as expected. For one, many of my brother’s assumptions were wrong, like thinking the locals wouldn’t want rice with every meal. But it turned out that even bakso – a meatball soup with noodles eaten on its own in Indonesia – is often served with a side of rice in Timor-Leste, a surprising twist that upended his plans.
Reflecting on my brother’s experience, I see a familiar story unfolding as Southeast Asian startups and VCs venture into Latin America. At first glance, the regions have a lot in common: Both have an internet-savvy population and similar levels of disposable income, for instance. But what’s not immediately apparent are the nuances that could make or break a company’s success in a new market.
In this week’s Big Story, my colleague Elyssa dives deep into the allure and potential pitfalls awaiting Southeast Asian startups in Latin America. The region offers exciting growth prospects, but ambition alone won’t cut it – viability and adaptability are just as essential.
LatAm beckons to SEA tech firms: Is the promise real?
Image credit: Made by Tech in Asia using Midjourney
Southeast Asian startups are increasingly expanding into Latin America, with companies like Airwallex, Shopee, and J&T finding success on the other side of the Pacific.
The region offers attractive opportunities like lower competition and more predictable regulations, not to mention notable exit stories. But such a bold push isn’t without risks, as language barriers, complex business environments, and regulatory nuances in countries like Brazil and Mexico can challenge even the most prepared startups.
What does Trump’s victory mean for crypto?
Moving to the other side of the Americas, Donald Trump’s recent election win in the US has sparked a wave of hope across the crypto world. Bitcoin surged past US$80,000 for the first time, while ethereum saw sharp rallies, peaking at close to US$3,200.
The comebacking president’s influence is reverberating through other digital currencies, too. Dogecoin – often promoted by close political ally Elon Musk – shows how far Trump’s influence extends.
His pro-crypto stance includes proposals for a federal bitcoin reserve and expanding bitcoin mining in the US. These moves signal deregulation and fewer restrictions on digital assets, which could fuel further growth.
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