Why startups need encouragement, not gossip

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Hello reader,

I didn’t realize it until this weekend, but I’m a big believer in the power of positivity.

I was playing in a flag American football tournament in Bangkok, and my team didn’t start its first game well. This led to a bit of negativity from the sidelines, with some players shouting at the guys on the field who had made mistakes.

One of the captains pulled the team together and reminded everyone to keep the chatter from the sideline positive. Negativity wouldn’t help us reach our goal, so why not encourage our teammates rather than bring them down?

We turned things around from there and performed pretty well, in no small part because we started picking each other up instead of doing the opposite.

Khailee Ng is someone who also believes in the power of positivity. Today’s premium article dives into why the 500 Global partner thinks the region’s startup scene could use more optimism instead of stinking thinking.

Today we look at:

• Why the tech ecosystem needs a positive mental attitude
• The Singapore-based crypto news firm that’s scored funding from Franklin Templeton
• Other newsy highlights such as UnoAsia’s US$32.1 million fundraise and Indonesia’s new policy requiring Google and Meta to pay for news.

Premium summary

Less jeer, more cheer

Image credit: Timmy Loen

Thanks to his background as an angel investor and VC, Khailee Ng knows a thing or two about how tough it is for founders to build and scale a startup.

At the Tech in Asia Conference in Jakarta last October, Ng explained why griping and gossip-mongering within the startup community makes it even harder.

• Stay positive: Ng asked attendees to avoid badmouthing or spreading rumors about companies, including those that haven’t gone public yet. He added that if the startup community was more positive and encouraging, it would let founders thrive and learn from each other more easily.
• Teenage kicks: The title of Ng’s keynote speech was “Southeast Asia at the Crossroads,” and he compared the region’s tech scene to someone maturing out of their teenage years. This is a time when people learn some harsh lessons about how life really works, just as the ecosystem has endured some tough times recently regarding access to funding. He added that while teenagers follow trends, Southeast Asia’s startups shouldn’t fall into the trap of imitating other companies and find their inner voice.
• Spread your wings: Ng said that for some startups, moving beyond Southeast Asia may make sense. Indonesia’s eFishery is one example, having expanded into India last year. “There are greener pastures beyond Southeast Asia for your business model. You just have to go out and find it,” he explained.

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