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Hi there,
This weekend, I was tinkering around with ChatGPT and was quite amazed by how quickly it can churn out stories with just a few prompts. The language and the details that it could incorporate within seconds surprised me as it showed how far AI has come.
Not only can it write stories, news, and poems, but it can also help solve coding problems and tell where the person went wrong. I was also amazed at how simple it is to use.
However, the latest version of this bot from OpenAI has brought to the fore questions of the jobs that it will impact in various industries – from content writers and journalists to marketers and developers.
This is something that people have debated about when any new technology comes along. However, today’s Big Story by my colleague Shadine, which talks about a 66-year-old firm called Neon, reassured me that anyone can survive anything if they know how to adapt to the times.
The Temasek-backed entertainment firm has managed to reinvent itself in the exhibition and experiences space. It even managed to survive the pandemic as its bottom line slipped into the red. Neon, which has IP partnerships with the likes of Marvel and the Avatar franchise, says it is now back in the black and expects to see growth even despite the recession.
Interestingly, it has seen a 4x growth in one of its revenue streams: the admission fees charged for exhibition tickets, signaling a post-pandemic recovery for in-person entertainment events.
In the second Big Story, Ardi sheds light on how certain tech firms in Indonesia that have laid off their staff have not been adhering to the country’s employee termination rules. While some employees have received fair severance packages, many others were left with a raw deal.
Speaking about deals, my colleague Aditya talked to BAce Capital managing partner Benny Chen about how the VC firm is navigating the recession. Chen also advises founders to chase value creation rather than valuation. More on this in Making Waves.
— Collin
THE BIG STORIES
1️⃣Temasek-backed firm’s return to the black marks appetite for in-person entertainment
Image credit: Timmy Loen
Neon, a 66-year-old entertainment firm that recently bagged US$105 million from Temasek’s 65 Equity Partners, is confident it can weather recessionary headwinds.
Making Waves
NEWS YOU SHOULD KNOW
FYI
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