Even governments aren’t immune to celebrity charms

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Hello reader,

I really dislike celebrity culture, and it can lead to some ridiculous advertising. Sure, Brad Pitt is a really good actor and has enough handsomeness for five guys, but what the heck does he know about coffee? If he hawked a coffee machine brand, why would his opinion mean any more than John Everyman’s?

The vast majority of celebrities shouldn’t be on the pedestals that we, as a society, put them on. The same applies to the tech world – we shouldn’t overhype a partnership just because it’s with a high-profile brand or founder.

Today’s premium piece looks at how much of Malaysia and Indonesia’s agreements with Elon Musk’s Tesla and Starlink can make a real difference, and how much is just unrealistic hot air.

Today we look at:

• The governments starry-eyed over for Musk
• PDD Holdings’ latest financial figures
• Other newsy highlights such as the successful fundraises of a few startups and another one going public on Nasdaq

Premium summary

A little less hype, a little more realism please

Image credit: Timmy Loen

Malaysian Prime Minister Anwar Ibrahim had a virtual meeting with Musk on July 14, claiming that the billionaire would consider investing in the country. But the deal turned out to be the setting up of a Tesla sales and services office in Kuala Lumpur and the licensing approval of Space X’s Starlink in Malaysia.

That’s not great expectation management. Additionally, the deal came at the cost of rare exemptions and concessions… and it might not even make sense for Malaysia.

• Starnolink: Both Malaysia and Indonesia have publicly stated that the satellite internet service will be a game changer, especially for rural populations. But these rural populations are unlikely to be able to afford Starlink’s setup (US$495) and monthly subscription (US$47.40) costs.
• Context: The average monthly household income in rural Malaysian states, such as Kelantan, is US$772. Even Sarawak, the country’s largest state with a huge rural population, nets a median household income of US$1,060.
• Cheaper EV alternatives: In Malaysia, the cheapest Tesla model goes for US$42,858. Compare that to BYD’s Dolphin, which starts at US$21,649.

Read more: Malaysia, Indonesia overhyped Elon Musk’s Tesla, Starlink

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