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Hello readers,
I have been following the FIFA World Cup 2022, and I must say it has been filled with surprises. Some of the underdogs have triumphed against top teams. Asian teams such as Japan, South Korea, and Saudi Arabia outplayed some of Europe’s best. Tournament favorites such as Spain and Germany have already been knocked out of the tournament.
It is clear through these games how teamwork and hunger can overcome even some of the most unexpected odds. On the flip side, if there is no team unity, it reflects on the pitch.
Similarly, team spirit is important in taking a company forward. When companies lose critical people within the team, it not only affects the organization but also raises a lot of questions as to what prompted them to walk out?
This was one of the questions I was dribbling inside my head when I worked on a story on the exit of employees at a Singapore-based AI firm BasisAI. The employees started to leave just over a month after a Temasek subsidiary, Aicadium, announced its acquisition. A large majority of original data science and engineering staff had left the firm after the acquisition, which took place a year ago.
It definitely isn’t a good look for the management when the players you acquire walk off the field. Something that football star Christiano Ronaldo did at Manchester United, which led to his departure from the club soon after. And he did something similar at Portugal’s World Cup match with Switzerland on Tuesday, raising more questions about the football professional’s actions.
Ronaldo’s actions aside, do let me know who you think will lift the World Cup this time.
— Collin Furtado, journalist at Tech in Asia
Top stories this week
Image credit: Timmy Loen
1️. After Temasek acquisition, BasisAI loses tech staff
Singapore-based AI startup BasisAI, which was acquired by Temasek unit Aicadium, has seen most of its tech employees walk out the door.
2. Binance in talks to acquire Indonesian crypto exchange Tokocrypto
Tokocrypto CEO, Pang Xue Kai, will step down after the deal is finalized, sources familiar with the matter said.
3. The profitable F&B SaaS firm that got Ant’s attention
Aigens has bagged US$14 million in series A money. The firm’s business could hold up in a recession even as it plans for an Asia-Pacific expansion.
4. Tech layoffs in Indonesia shine light on employee legal rights
As more tech companies resort to layoffs amid the economic downturn, employees should learn and stand up for their rights.
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