Ecosystem Roundup: Fintech investments down in H1 2024 | Ninja Van slashes more jobs | Koo is shutting down

A panel event in Jakarta discussed the current fundraising winter in the tech industry, highlighting challenges faced by startups in Southeast Asia due to slashed valuations and market conditions. VC investors are now more patient and focused on profitability, emphasizing balanced growth and solid fundamentals. Founders are advised to cut burn, focus on their best product-market fit, and prioritize survival over market share in the tough capital market, thinking like a camel rather than a...

Formula One is considering a return to V10 engines powered by sustainable fuel, departing from the current V6 turbo hybrid engines. Mohammed Ben Sulayem of the FIA discussed the possibility at a recent event in London, emphasizing the need for cost control and environmental considerations. Discussions are ongoing with stakeholders to explore technical directions for the sport from 2030, including the potential for V10 engines running on sustainable fuel. Full Article

President Trump is using tariffs as a weapon to address trade imbalances with Asia, targeting countries like China, Japan, South Korea, Taiwan, and India. This strategy could disrupt supply chains and trade flows, leading to protectionism and regional alliances. The threat of reciprocal tariffs and economic slowdown in Asia are causing uncertainty and challenges for governments and businesses in the region. Full Article

Ankit Panda and Katie Putz discuss the rise of DeepSeek and the geopolitical competition over artificial intelligence technologies on The Diplomat’s Asia Geopolitics podcast. Listeners can subscribe on iTunes for iOS or Mac, Google Play for Windows or Android, or Spotify. Reviews and ratings on iTunes and TuneIn are welcome, and feedback can be sent to host Ankit Panda. Full Article

Alibaba is set to invest aggressively in AI, with a focus on achieving artificial general intelligence, as CEO Eddie Wu announced plans to surpass decade-long AI investments within the next three years. The company's Q4 results showcased an 8% revenue increase driven by e-commerce growth and cloud intelligence success, with highlights including a surge in customer management revenue, adoption of AI-powered marketing tools, and significant growth in the 88VIP program. Despite divesting from physical retail...

Jaya Bachchan criticized Finance Minister Nirmala Sitharaman for neglecting Bollywood in the federal budget debate, citing the closure of single-screen theaters and high costs deterring audiences. Sitharaman defended the government's stance by pointing out the lack of entertainment tax under GST and highlighting past mistreatment of Bollywood legends by previous Congress-led governments. The debate reflects the ongoing struggle of Bollywood in the streaming era and the industry's perceived lack of financial support from the Indian...