Emerging markets, exponential returns for VCs

More: Tesla is building a data center in China while Wise launches in the Philippines [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: - VCs’ guide to [beat currency depreciation]( - Snowflake acquiring Reka - Other newsy highlights such as Tesla building a data center in China and Mito Health joining YC --------------------------------------------------------------- Hello {NAME} I have a friend who freelances for a couple of US-based firms. He’s pretty well-off, at least by our standards. When I asked him how he manages such a comfortable lifestyle, he said, “Earn in dollars, spend in rupees.” This is the reality for thousands of freelancers in Pakistan, India, and Bangladesh, countries with depreciating currencies and a wealth of soft talent. The same goes for exporters to the US or other Western countries. Production costs are low, but the selling prices are high. Sometimes, governments even devalue their own currency to keep the country’s businesses profitable. But there’s a catch. To grow further, these markets need investments, and investors need profits. In developing countries with unstable currencies, investments can be risky. If investors put money into the market, they have to beat inflation and currency depreciation to make a profit. The latter is what today’s premium story focuses on - how do VC firms deal with rapidly depreciating currencies when investing in emerging markets? -- Lokesh  ---------------------------------------------------------------  THE BIG STORY [How VCs can beat currency depreciation]( Venture capital investing in tech startups that disrupt industries in "primed" emerging markets may be the answer to beating currency depreciation. --------------------------------------------------------------- TRENDING NEWS [Snowflake mulls $1b buy of Singaporean co-founded AI startup: sources]( Reka AI was founded by ex-employees of Google and Meta, and it launched its multimodal language model called Reka Core in April. [Tesla to build China data center to power global autonomous driving]( CEO Elon Musk has reached out to Nvidia for the project, but US sanctions prohibit the sale of the latter’s most advanced chips, reported Reuters. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Tracking startup closures across Southeast Asia]( There are several reasons why startups in Southeast Asia go bust, but we lack data about it. This piece helps you track the region's macro-level trends. --------------------------------------------------------------- OIN THE REGION'S TOP PLAYERS AT TIA CONFERENCE KL Third-release tickets are now available The Southeast Asian tech community is buzzing, and the epicenter is Kuala Lumpur. Tech in Asia Conference is bringing together 2,000 of the brightest minds from big names like Google, Alibaba, AWS, 500 Global, Gobi Partners, and more. This is your chance to build new connections and find opportunities for professional growth. For a limited time, tickets are available at up to 30% off - don't miss your chance to join the excitement. [Get your ticket now!]( ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s signature events [here](.  [Saigon Summit 2024 : Charting Vietnam’s Tech Future on May 30]( As Vietnam’s tech scene takes center stage, it’s your chance to get front row seats to witness - no, shape - the innovation that’s drawing attention globally. Join Razer's Min-Liang Tan, Xendit's Tessa Wijaya, and Seek Asia's Peter Bithos at Saigon Summit as they share their insights on building empires, expanding regionally, and unlocking talent potential. [Get your fourth-release tickets while they last - offer ends on May 26!]( [Tech in Asia Conference Kuala Lumpur 2024 : Malaysia on The Rise on July 24-25]( The tech scene in Malaysia is booming, and you don't want to miss out. Join us for two days of insightful talks, inspiring networking, and exciting opportunities. Hear from leading voices like: Khailee Ng (500 Global), Dione Song (Love, Bonito), Venon Tian (ZUS Coffee), and many more! Tickets are selling fast! [Secure your spot today]( and be part of the future of tech in Southeast Asia. [Product Development Conference (Jakarta, 25-26 June 2024)]( We are delighted to announce that Bank Rakyat Indonesia will be joining us as our title partner for Product Development Conference 2024! ✨ Find out how BRI, one of the largest state-owned banks in Indonesia, continues to drive innovation of their products and ecosystem at "Enterprise Product Development by BRI" stage. Stay tuned on this page or through pdc.techinasia.com to get the latest update! Discounted tickets vanishing faster than a viral tweet! Score 35% off before prices rise May 22nd. [Secure your tickets]( now to sharpen your product skills! [Tech in Asia’s Founders Meetup in Vietnam on May 30]( Investors and founders from Vietnam, Taiwan, and beyond have already secured their spots at our Founders Meetup in Vietnam! Will you be joining them? Limited seats are available, so don't miss out. [Use the code VNTIASPECIAL10 to get 10% off your ticket now!]( [Tech in Asia x Airwallex Startup Night on June 19]( Tired of being stuck in the same old routine? We’re shaking things up with an exclusive launch party and networking mixer! Expect a vibrant mix of entrepreneurs, industry disruptors, and fellow founders who dare to dream bigger. Forge connections that matter and unlock secrets to accelerate your startup growth. Limited seats, maximum impact - [secure your spot now!]( ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Technical Writer (Akar Inti Enterprise)]( at Dealls Jakarta, Indonesia - [Sales & Promotion Staff]( at Bina Nusantara Group Semarang, Indonesia - [Social Media Specialist]( at Rocketindo Jakarta, Indonesia - [Senior Tech Lead]( at SIGMATECH Jakarta, Indonesia - [Warehouse & Logistic Staff]( at Scout.inc Surabaya, Indonesia - [Business Development Admin - Yogyakarta / Solo]( at Hangry Yogyakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Tech in Asia thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  ---------------------------------------------------------------  Copyright © 2024 Tech in Asia, All rights reserved. 13A Neil Rd, Singapore 088810 A member of The Business Times.