2022 was a brutal year for tech companies, but there were some bright spots in e-commerce companies. Pinduoduo in particular was doing pretty well with its stock price rising by more than 60%. It was also a rough year for Web3, the crypto narrative turned into a crash of the market and public confidence.
At the beginning of 2023, the sentiment seems to be mixed. The only consensus is that, after the dramatic tech meltdown last year, 2023 will probably be a year of recession. But what does this mean for investors, entrepreneurs and corporate innovators? How should we make 2023 a good year for the tech ecosystem?
01VC and Momentum Works co-hosted a closed-door exchange session on 8 February where over 90 investors (LPs and GPs), founders and corporate executives had frank, in depth discussions on these topics with some of the most seasoned veterans in the scene.
Jianggan Li, CEO of Momentum Works, kicked off the event with a keynote address where he focused on macro trends in 2022, the investment narrative for SEA, and how companies should continue forward in 2023. The full version of this presentation is available for download here. And if you would like to have this sharing and other insights for your leadership team, you are welcome to contact Momentum Academy at [email protected]
Moses Lo, founder and CEO of Xendit, also flew in for the event in Singapore, where he shared his personal stories building, operating and expanding a global team, as well as the people, cultural and leadership reflections in the process.
A lot of trials and tribulations went into Xendit’s journey from a small team crammed into a house in Jakarta to a regional FinTech unicorn processing $27b worth of payment a year. The thoughts and reflections resonated well with the audience.
Momentum Works, together with 01VC, will host more online and offline dialogues in the coming months on current and everlasting issues concerning the tech and innovation ecosystem. We will keep you posted about the open ones through our newsletter (which you can subscribe to here).
Thanks for reading The Low Down (TLD), the blog by the team at Momentum Works. Got a different perspective or have a burning opinion to share? Let us know at [email protected]