Consider the ‘unicorn factory’ closed

More: Apple records bumper revenue in China despite falling global iPhone sales. [Read from your browser]( Daily Newsletter Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](.  --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [How emerging markets are avoiding the mistake of factory-farming unicorns]( - Apple’s solid results in China - Other newsy highlights such as Kenangan Brands’ new affordable coffee chain --------------------------------------------------------------- Hello {NAME} It’s much easier to learn from your own mistakes than it is from the mistakes of others. I can’t count the number of times I’ve received some great advice about a problem in my life, acknowledged how wise it sounded, and then proceeded to do the complete opposite of what I should. I’m stubborn, I suppose. For instance, for years I persisted in driving a cheap but crappy automatic scooter that kept breaking down, despite being advised by friends to spend just a little bit more on a more reliable semi-automatic. It took one final embarrassing breakdown in front of the Ho Chi Minh Mausoleum in Hanoi for me to finally see sense and upgrade my ride. If I had only been able to learn from the mistakes of my friends who used to drive similarly awful bikes, I would have saved myself a lot of frustrating trips to the mechanic. As today’s premium story explores, the stakes are a bit higher for emerging markets’ startup ecosystems hoping to learn from the mistakes of the West’s “unicorn factory.” -- Peter  ---------------------------------------------------------------  THE BIG STORY [Learning from the mistakes of the West’s ‘unicorn factory’]( Failing to scrutinize startups’ business fundamentals has sparked a crisis for VCs in the West. Those in emerging markets would do well to avoid this. --------------------------------------------------------------- TRENDING NEWS [Kenangan Brands launches affordable coffee brand]( The Indonesia-based coffee chain said the new business – called Satu Kenangan – will be open to franchising deals. [Apple stock jumps after buyback announcement, China sales show nuance]( China accounts for 18% of Apple’s total net sales, Bloomberg reported. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [A cheat sheet of M&As in Southeast Asia]( Need to get up to speed with SEA’s M&A scene? This one’s for you. --------------------------------------------------------------- TECH IN ASIA’S FOUNDERS MEETUP: VIETNAM ON MAY 30 Ask us anything: get your exclusive 1:1 chats during TIA Office Hour Learn from the minds behind Tech in Asia at Founders Meetup Vietnam, and engage in one-on-one conversations with our founder Willis Wee, editor-in-chief Terence Lee, and other key team members. Whether you're seeking advice on building a successful tech company, navigating the media landscape, or amplifying your startup's story, this is your chance to ask them anything. 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Our team will get back to you by the next business day. - Vatic AI - [Dilip Krishnan Appointed as Vatic AI's New CEO to Drive Global Expansion]( Vatic AI welcomes Dilip Krishnan as CEO to spearhead cutting-edge AI credit solutions and global growth. - AWS - [GenAI for Finance Hackathon 2024 - Accelerating Innovation in Generative AI]( GenAI Hackathon 2024 is a unique opportunity for FinTech and non-FinTech startups to showcase their GenAI-Finance solutions. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s signature events [here](.  [AD] [SuperAI from June 5 to 6]( With AI making its way into almost every aspect of our daily lives, it shouldn’t come as a surprise that major stakeholders are looking to take the right direction for the technology. 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