Indonesia’s protests test its promise

In focus

• Wave of protests shake Indonesia’s economic stability
• How startups should handle conflicts of interest
• When do startups usually make an exit?

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Hello there,

I live in Jakarta, and the atmosphere has been tense over the past week. Buildings were set on fire, public transport was disrupted, and groups of protesters marched with chants demanding change.

People are angry at rising taxes as well as the perks for lawmakers and their controversial statements. Many are also demanding the passage of the asset seizure law for those charged with corruption.

However, the protests have turned into something much bigger.

The unrest has spread to other cities, with several people dead – including ride-hailing drivers and students – and many more injured. The government’s response of scrapping housing allowances and freezing overseas trips for lawmakers feels like a patch on a deeper wound.

It reminded me that while Indonesia’s economy looks good on paper, many citizens feel left behind.

In today’s first Top Story, Elisa from The Business Times examines how these protests could affect the country’s economic and business conditions. Amid the macroeconomic downturn, this situation can make things even worse.

Meanwhile, today’s second Top Story has Pav Gill – the Wirecard whistleblower – sharing his insights about conflicts of interest in the startup industry. He believes such conflicts are often mishandled and erode trust in Southeast Asia’s startups, and he offers tips on how founders can keep them from escalating.

Jofie Yordan, journalist

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Top Stories

1️⃣ Protests in Indonesia force a rethink of Prabowonomics

Indonesia’s recent protests are testing the foundations of “Prabowonomics,” pushing the government to rethink its economic agenda amid public anger.

Civic pressure could reshape national policy, with ripple effects on businesses and investors.

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