(Only) after pouring $72 billion into Southeast Asia, venture capitalists are hitting the reset button in Southeast Asia?

Lightspeed Ventures' report, Southeast Asia: Resetting Expectations, has sparked discussions in our community groups for its honest take on the region's challenges and opportunities, with some calling it “finally an honest report on Southeast Asia.”

But what does it really mean to reset expectations for this region?

Tune into this latest episode as we dive into the evolving landscape of venture capital investment in Southeast Asia, unpacking why the region’s tech growth hasn’t fully met expectations, the unique role of conglomerates, and what this reset means for future investments and founders navigating these markets.

Earlier in September, Meituan went live in Saudi Arabia under its global brand, Keeta.

This comes more than a year after Meituan entered its first overseas market, Hong Kong, where it quickly overtook established players like Foodpanda, becoming the market leader in order volume due to aggressive promotions and a focus on low Average Order Value (AOV) meals.

Now, Meituan is entering Saudi Arabia, a promising market for food delivery but one that presents unique cultural and operational dynamics for Meituan compared to its previous markets. And unlike many Chinese tech companies going global, Meituan faces the challenge of being an operationally heavy business.

Will Tony Qiu, Head of International Business at Meituan and former lead of DiDi’s expansion in Latin America, be able to navigate these complexities?

Tune in to the latest episode of the Impulso Podcast as we explore Meituan's global expansion strategy, and what’s next for the food delivery giant.

Chapters:

0:00 Intro

1:50 Is food in Hong Kong more expensive than Singapore?

5:58 Rise of two dish rice in Hong Kong

6:50 Meituan’s Keeta wins in Hong Kong?

11:00 What is rival Foodpanda doing?

12:15 Low AOV as a market entry strategy

14:18 Meituan’s expansion into Saudi Arabia

24:50 Why did Meituan’s share price rise?

Featured materials:

Meituan is entering Hong Kong, will it beat Foodpanda and Deliveroo there?, The Low Down

Meituan becomes top food delivery player in Hong Kong, The Low Down

Watch Out! KeeTa’s Rapid Rise in Hong Kong, measurable.ai

Total Restaurant Receipts and Restaurant Purchases, Hong Kong Government

McDonald’s to increase prices in Hong Kong by about 2.6% in new year, South China Morning Post

Will Meituan beat DeliveryHero in Saudi Arabia?, The Low Down

Meituan launches in Saudi Arabia, where next?, The Low Down

Should Meituan acquire Foodpanda?, The Low Down

In focus: food delivery platforms in Southeast Asia, Momentum Works

Picture Sources:

https://www.scmp.com/lifestyle/food-drink/article/3199243/two-dish-rice-cheap-fabulously-rich-and-hong-kong-icon-time-declare-it-part-citys-intangible

https://www.asiaone.com/lifestyle/lifehack-teaches-you-how-order-cai-fan-pro

Wenheyou (文和友), a Chinese restaurant often dubbed the "Disneyland of Chinese cuisine", serves over 40,000 diners a day!

The 6-story restaurant (located in Changsha, China) is meticulously designed to replicate the old Changsha street scene, complete with vintage items and tattered signboards. Through careful design and storytelling, Wenheyou transports visitors back in time, offering a nostalgic experience.

Wenheyou has become a cultural icon, and a must visit for tourists, in Changsha. But how does it manage the unique operational challenges of running a 6-story restaurant serving tens of thousands of customers daily?

Tune into this episode of the Impulso podcast as we dive into the Disneyland of Chinese cuisine, Wenheyou.

The trend of experience-driven dining is just one of many innovative concepts emerging in China's fast-evolving and competitive F&B scene.

Join Momentum Works F&B innovation immersion to Changsha this November to see first-hand Wenheyou and other innovative F&B concepts, as well as best practices in operations and supply chain management.

Chapters:

0:00 Intro

1:10 Changsha, the entertainment city of China

2:20 Wenheyou: Disneyland of Chinese cuisine

4:50 Chayan Yuese in Changsha

8:40 Product expansion in Wenheyou

12:05 Rise of Experience driven dining

19:45 How does Wenheyou manage 40,000 diners a day?

23:15 MW F&B immersion to Changsha

Featured materials:

Momentum Works Immersions: F&B innovations

Momentum Works: Transforming Frontline Industries

Video sources:

Disneyland Paris Welcomes Back The Magic With A Reopening Starting June 17 | Disney Parks

FULL Magic Happens Parade 2024 at Disneyland Park! - Disney 100 Years of Wonder Celebration

Frozen Themed Land & 2 Frozen Rides | World of Frozen at Hong Kong Disneyland

BACK TO THE 80'S | A Vintage Restaurant Tour | Wenheyou, Changsha, Hunan

Guangzhou's Food Court on Steroids: Wenheyou Super

Old China in Wenheyou | Discover GuangzhouHaidilao Dance

In the third and final part of our conversation with Blake Larson and Alexander Le, the three ex-rocket alumni turned founders reflect on life after Rocket Internet, the challenges they faced during international expansion, and the lessons learned from managing teams across different cultural backgrounds.

Tune in as they discuss their strategies for balancing work-life demands, and how they’ve chosen their own paths in both business and life. The discussion goes beyond business, exploring cultural differences, leadership approaches, and the challenges of scaling operations across borders.

The final part of this series explores:

• Challenges of managing teams across different countries and cultures;

• “Coconut vs Peach” theory;

• Establishing company values across borders;

• Balancing ambition with reality, while staying true to personal and company values.

Chapters:

0:00 Intro

1:00 Navigating cultural differences

4:30 EasyTaxi in Hong Kong

10:00 Balancing leadership in East and West

12:40 Coconut vs. peach theory

16:30 Motivating employees in a startup

20:40 Lessons from mistakes

24:50 Epilogue

Featured materials: E92: Impact of Rocket Internet in fragmented markets: conversation with Blake Larson & Alex Le (2/3), The Impulso Podcast

In the second part of our conversation with Blake Larson and Alexander Le, the three ex-Rocket Internet Alumni dive deeper into the fragmented Southeast Asian tech ecosystem, reflecting on how it has evolved since the days of Rocket Internet.

They share their firsthand insights on navigating the fragmented markets in the region and the lessons they've learned from their expansive global experiences.

The second part of this series highlights:

• Rocket Internet’s impact on tech development in Southeast Asia;

• Challenges Southeast Asia’s fragmented markets pose for scaling tech operations;

• How tech giants in the region, like Lazada and Grab, have tackled fragmentation issues;

• Importance of resource allocation when scaling globally;

• The future of tech scalability in the region.

Chapters:

0:00 Intro

1:01 Rocket Internet’s Impact on SEA

5:20 Fragmented SEA vs. China

10:00 Infrastructure is key for expansion

16:20 Rocket Internet’s data-driven expansion approach

24:15 Tips for young founders

Featured materials:

Seeing the Unseen, Jianggan Li, Guoli Chen

E91: Founders walk a lonely road: conversation with Blake Larson & Alex Le (1/3), The Impulso Podcast

In this episode of the Impulso podcast, Jianggan Li is joined by Blake Larson, Ex-Global Managing Director at Lalamove, and Alexander Le, Ex-Managing director at Rocket Internet. Tune in as the three former Rocket Internet pioneers turned founders share their candid reflections on leadership, personal fulfilment, and their journey through the highs and lows of the startup world.

In the first part of this series, they dive into:

• What it takes to be a good founder;

• The lonely road of being a founder;

• The contrast between builders who love creating and those better suited for managing large teams;

• Challenges faced in the early days of Easy-taxi

Chapters:

0:00 Intro

1:11 Being a founder is lonely

3:50 Entrepreneurs vs Managers

6:30 Dealing with growing organisational complexity

15:30 Reflections on Rocket Internet and EasyTaxi

Featured materials:

Momentum Works Immersion: Ecommerce & Live Commerce

In this episode of the Impulso Podcast, we leave the studio behind for Can Gio, a district set to become a major economic hub with a $15 billion investment. Joined by two industry leaders from Metub—Hung Tran, the COO, and Nhi Nguyen, the Director of Strategy and Planning—we dive deep into the rapidly evolving landscape of Vietnam's digital economy, the growth of e-commerce, live commerce, and the developments shaping Ho Chi Minh City and beyond.

We discuss the key drivers behind Vietnam’s booming ecommerce sector, including the significant role of live commerce, and how METUB empowers creators to turn their passion into sustainable careers. We also discuss the growing trend of cross-border ecommerce between Vietnam and China, as well as the differences in business culture between Vietnam and China, highlighting why understanding local dynamics is crucial for success.

Chapters:

0:00 Intro

1:05 What is Can Gio

6:20 Vietnam’s economic growth

14:10 Key drivers of ecommerce

21:00 Is Vietnam following China’s growth path?

27:50 Leveraging China’s supply chain

32:30 Today, customers are more knowledgeable

42:35 Cultural differences: Vietnam vs China

46:20 How to enter the Vietnamese market

Featured materials:

Metub

Momentum Works Immersion: Ecommerce & Live Commerce

Ecommerce in Southeast Asia 2024, Momentum Works

“Half of Hangzhou is in Ho Chi Minh City”, TheLowDown

ESG, GSG, and carbon accounting are more than just buzzwords—they are key factors in the transformation of modern businesses.

In this episode of the Impulso Podcast, we dive deep into the intricacies of carbon accounting and its impact on businesses with Sam Hon, founder and CEO of CREX, and Shaolin Zheng, co-founder and CTO at NextBillion.ai.

Key highlights from this episode:

• Carbon accounting is not just an environmental obligation but a tool for improving business efficiency;

• Complexities of adopting carbon accounting, misalignment between management goals and operational realities;

• Future of sustainability practices, and the role of data in driving change.

Tune in as we explain what carbon accounting actually is, and how companies are integrating it into their operations while boosting profits.

Featured materials:

CREX | Linkedin

NextBillion.ai | Linkedin

Momentum Works Immersions: F&B innovations

E86: Luckin Coffee opens 20,000th store, The Impulso Podcast

E76: Starbucks vs Luckin in China, who is winning?, The Impulso Podcast

E70: Succession - successful tech founders’ dilemma

Chapters:

0:00 Intro

1:00 Why CREX and not TREX?

3:30 Aligning sustainability to your business goals

12:10 All about algorithms

21:35 Irrational behaviours - can they be changed?

30:48 Understanding (and changing) human behaviour

37:19 Recycling: Aluminium versus plastic

51:10 What is carbon accounting?