Have you tried Clubhouse yet? Well, I am still waiting to be invited. It sort of reminds me the time in college when we waited to get on a guest list of the city’s elite clubs.
Speaking of ageing, one of our contributors shares his excellent view on why mid-career professionals make good entrepreneurs. And there’s more on fintech, remote work culture, etc.
Have a good week!
How sailing as a teenager prepared me for a career in tech and gaming by Najwa Jumali UX/UI Designer at Tribe
“At the age of nine, my parents enrolled me and my sister in sailing lessons at the Singapore Armed Forces Yacht Club (SAFYC) and since that day, my sailing pursuit took me to many places around the world including, but not limited to Italy, France and Croatia.
While I haven’t sailed in years, I still look back at the ups and downs of my sailing career as some of the most formative years of my life that still help me today in my tech journey.
Here are some of the skills sailing taught me that I still lean on today”
Of lifestyle apps
Clubhouse: Hype-fuelled gimmick or the future of events and podcasting? by Dean Carroll, founder of C-suite
“Clubhouse is the first audio app. Twitter and Facebook, meanwhile, are already building their own versions. As is the tech entrepreneur and Shark Tank television star Mark Cuban, with Fireside. Not to mention the myriad equivalents in mainland China, where Clubhouse has already been blocked by the Great Firewall. Note to Silicon Valley, freeform dissent against the country’s communist regime cannot be tolerated.
So then, is Clubhouse a hype-fuelled gimmick or a new model that will disrupt the tired events and podcasting industries? It certainly has the potential to become the latter. Then again, it could also quickly morph into the former.”
To bumble or not to bumble: Does Asia need its own dating apps? by Arick Wierson, political and business columnist
“In addition to empowering women to take the lead in kicking off possible romantic connections, Bumble has been leaning in on scores of other matchstick issues ranging from banning profile pics that show men (or women) posing with firearms to her recent fight against fat-shaming on the Bumble app.
But how exactly Bumble will be received across the globe—heavy investment in global expansion is one of the purported uses of the funds raised in the forthcoming IPO—in cultures where gender roles and scores of other cultural nuances are quite different from those in the US, is still very much an open question.”
Founders take note
Note to entrepreneurs: This too shall pass by Carmen Yuen, VC at Vertex Ventures
“With 2020 behind us, and yet the end of the COVID-19 tunnel remaining elusive, I sense some of us in Singapore are getting somewhat careless in how we handle COVID-19.
This resulted in our government imposing rules on gatherings — which is somewhat of an annoyance given Lunar New Year catch-ups is what we do during the festive period.
Thankful as I am that the COVID-19 community spread cases are kind of under control, we should not be “..too excited nor too happy”, and throw caution to the wind because there could be super-spreaders and we could be miserable when more tightening measures are introduced as a result.”
Legal matters: What is the most important business agreement for your startup? by Izwan Zakaria, corporate, tech, venture, and startup lawyer
“After being involved as a corporate lawyer for over a decade on a wide range of legal work for bootstrapped startups to venture-backed companies, I believe there is one single most crucial agreement that every business owner, entrepreneur, and a founder should have is an agreement covering the following items below.
These agreements are usually known as a shareholders agreement, stockholder agreement, founders agreement, and also known as a partnership agreement in some places. Although they may be called by different names, entrepreneurs and founders should ensure that they cover the following issues in such an agreement.”
What is keeping founders up at night? by Ruth Haller, Anapi
“We recently ran a poll to find out what keeps businesses owners up at night and what they are looking out for to ensure they stay on track of their plans for the year.
The results are in. Tied in first place are fundraising and execution risks. Talent risks came in third place. Let’s explore what these risks entail and what founders need to look out for.
Perhaps it was no surprise that fundraising risks topped the list. A lot of founders spend a lot of time fundraising. Fundraising usually becomes a big part of a CEO or founder’s job every one to two years and is crucial to keep the business afloat with runway in order to keep operating. Understandably, once funding runs out, the business reaches a grinding halt; a massive risk to the company.”
Why it is never too late for mid-career professionals to be an entrepreneur by Dr Alex Lin, interim CEO of NTUitive
“According to Harvard Business Review, for the top 0.1 per cent of startups based on growth in their first five years, the founders of these startups had started their companies, on average, when they were 45 years old.
Mid-career professionals have the resilience and experience to weather the stress and variables arising from being an entrepreneur. Even if they do fail and wish to return to employment, the skillsets and networks built during the entrepreneurship journey will make them highly employable.”
Life after COVID
The world of proptech and its fate in a post-pandemic world by early employee of Plug and Play Tech Center in Bangkok, Alex Chatpaitoon
“Proptech is one of the businesses that has been affected by the pandemic. Proptech is a combination of real estate, construction, and finance startups. Even though the economy has restarted, the demand for properties remains subdued. People are still actively searching for homes, co-working spaces, and offices.
But how has the price and their behaviour been affected by the pandemic? According to asean.org, unemployment expecting to increase in South East Asia due to the impact of COVID-19. The Philippines has an all-time high of 17.7 per cent from a 5.1 per cent in the corresponding 2019 period.”
How the tech industry is redefining the remote work culture by Sabrina Zolkifi, Indeed Employer Brand Program Manager
“You should also look at how you structure and communicate your employee benefits in light of changed work practices. Some benefits, like on-site gyms and catering, will need to be reconsidered. Others may need to be deployed in a way that makes them able to be enjoyed asynchronously for employees in different time zones.
You can’t install a ping-pong table in people’s home offices or buffets in their kitchens. Delivering these kinds of on-site experiences in a remote work environment requires a creative and fresh approach. When examining work culture incentives, look to desired outcomes rather than specific initiatives to determine what will be appropriate for a hybrid or remote work future.”
5 fintech trends to watch out for in 2021 by Josh Luna, Research Associate
“A 2020 study reported that fintech firms in digital asset exchanges, payments, savings, and wealth management saw a 13 per cent growth in transaction numbers and 11 per cent increase in transaction volumes in the previous year.
Around 831 of the 1,385 fintech companies surveyed launched new products and services in response to the pandemic.
With many people opting to conduct their financial transactions online amidst the global crisis, it came to no surprise that demand for fintech offerings has grown as well.”
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