Metaverse could pump $1.4 trillion a year into Asia’s GDP: Deloitte

The impact of the metaverse to GDP in Asia could be between $0.8 and 1.4 trillion per year by 2035, said a new Deloitte report. Weiquan Lin | Moment | Getty Images Meta‘s huge bet on the metaverse may have put the company in dire straits, but a new Deloitte report suggests that virtual realities … Read more

Plastic pollution credits could be the new carbon offsets

Humanity has produced over 9.5 billion metric tons of plastic. That’s over one metric ton, aka 2,200 pounds, per each of the Earth’s 7.9 billion inhabitants. That plastic doesn’t go away. “All the plastic we’ve ever produced since the inception of the material is still here,” said David Katz, Founder and Chairman of Plastic Bank, … Read more

Tips from eFishery founder Gibran Huzaifah on running a profitable start-up

Indonesian Gibran Huzaifah Amsi El Farizy is no stranger to the start-up world. While he was still a college student, Farizy started his own fish-rearing business — and by the time he graduated in 2012, he was managing 76 ponds. Now at 33, Farizy runs Indonesia-based startup eFishery, which developed products such as automatic feeders … Read more

Tech startups trying to fill tech gap

A worker refills a robotic dispenser by eFishery, an agritech startup, at a fish farm in Subang Regency in West Java, Indonesia, in June 2022. The startup helps farmers optimize their processes through automatic feeders and mobile apps. Dimas Ardian | Bloomberg | Getty Images Indonesia’s tech startups are reeling in big money in seafood … Read more

Indonesia’s GoTo reports wider nine-month loss

Motorcyclists travel past a billboard advertising GoTo’s initial public offering in Jakarta, Indonesia, on Friday, April 8, 2022. GoTo, formed through the merger of Gojek with e-commerce pioneer Tokopedia, raised $1.1 billion in one of the worlds biggest stock debuts this year and is slated to list in Jakarta April 11. Dimas Ardian | Bloomberg … Read more

Indonesia’s GoTo lost almost 70% of its valuation since its April IPO

A GoTo logo seen displayed on a smartphone screen and in the background. Rafael Henrique | Sopa Images | Lightrocket | Getty Images Indonesia’s GoTo Group has lost 68.5% of its initial value of 400 trillion rupiah ($28 billion) since its initial public offering in April. While the stock has ticked lower most of the … Read more

Ex-Stripe exec wants staying power over huge growth

GajiGesa’s Vidit Agrawal wanted to provide workers access to their wages as they earn it, between traditional end-of-month pay cycles. That gives workers much more liquidity and protects them from predatory lenders. GajiGesa Vidit Agrawal, co-founder of Indonesia-based startup GajiGesa, knows crazy growth is nice. But staying power is better. “Everyone is talking about profitability … Read more

VC firms will be pickier in 2023

Venture capital-backed companies only raised $369 billion for the first three quarters of 2022, according to Crunchbase data. A total of $679.4 billion was invested globally in 2021. Malte Mueller | Fstop | Getty Images Venture capital firms in Southeast Asia will probably be pickier next year, with valuations plunging and economic headwinds slowing growth … Read more