Top reads of 2024: Tech in Asia’s must-know stories

Billionaire Warren Buffett famously quipped, “You don’t find out who’s been swimming naked until the tide goes out.”

In 2024, Southeast Asia’s startup ecosystem has been witnessing the tide at what feels like its lowest ebb – and the shoreline is littered with exposed swimmers.

Image credit: Tech in Asia

The latest to be dragged ashore is eFishery, with its co-founders suspended and an investigation into alleged financial irregularities being conducted.
While the full story at eFishery remains unclear, the term “financial irregularities” feels like déjà vu, echoing the saga from two years ago at another tech unicorn, Zilingo.

In 2024, Tech in Asia also uncovered a trio of Southeast Asian founders who falsified their academic credentials. Vizzio’s Jon Lee and Supercharge Lab’s Anne Cheng, were both caught fabricating doctorate degrees, while Moehammad Ichsan, co-founder of greentech startup Octopus, allegedly claimed to be a UC Berkeley graduate when he wasn’t.

This brings the question: Does the relentless pressure of unicorn status and the spotlight make some startups and founders crack under the weight?

As we reflect on 2024’s editorial highlights, we’d like to believe it’s not just negative stories that resonate with the ecosystem. Stories of innovation – like Reka AI’s visionary founder, Shopee’s efforts to stay competitive against TikTok, or gaming chair manufacturer Secretlab’s strategy to stay profitable – also left a significant mark.

Here’s a look at our biggest stories of 2024, along with insights and reflections from our journalists.

1️⃣ Rising AI entrepreneur admits to faking his Cambridge Ph.D.

We kicked off the year with a story that unraveled a web of deception spun by Jon Lee, founder of AI startup Vizzio. He confessed to faking a doctorate in computer science from the University of Cambridge, a lie rooted in forged credentials and awards crafted over 20 years ago.

Image credit: Timmy Loen

We then exposed Vizzio for plagiarizing work and listing fake clients. The drama peaked when Jon insisted on an in-person meeting with our team. Our editor-in-chief, Terence Lee, met with Jon in Singapore, joined by me and reporter Lokesh Choudhary via video call.

What I learned from it was that asking tough questions remotely is far easier than doing so in the same room. Still, we had to do our job. Our reporting led to Jon stepping down as Vizzio’s CEO, as well as AI scientist Kai-Fu Lee resigning from the board.