Did Grab drive itself into a corner?

More: StashAway revenue rises by 13.5%, and Viu gets a huge strategic investment. [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: - [Grab joining the growing list of companies that are conducted layoffs this year]( - Hodlnaut possibly getting shut down - How generative AI is [already disrupting]( marketing - Other newsy highlights such as StashAway’s latest financial figures and a strategic investment in Viu --------------------------------------------------------------- Hello {NAME} Whether the saying “underpromise and overdeliver” is actually effective, I’m not too sure, but it applies to almost everything - work, personal relationships, or anything in between. While this might sound like you’re not being honest about your true capabilities to the other party, I’d say that it’s not about lying to them. Rather, it’s about preventing yourself from overpromising something that you don’t know is even possible. In other words, the saying is about playing it safe but still going the extra mile. This was my first thought when I heard the news earlier this week that Grab was conducting layoffs. Its C-suite executives previously said that it was not following in the footsteps of other major tech firms and cutting staff, and yet here we are. In some ways, the company made a statement that it didn’t fulfill. And yes, while things can change - and there are probably many valid reasons for that - many people won’t see this as just another round of layoffs. Instead, they’ll think of it as Grab being unable to follow through on what it said. -- Jonathan  ---------------------------------------------------------------  THE BIG STORY [Making sense of Grab’s surprising U-turn from ‘no layoffs’ stance]( Employees are upset by the job cuts, which CEO Anthony Tan insists are not motivated by hitting earnings targets. --------------------------------------------------------------- TRENDING NEWS [Court may order Hodlnaut to dissolve at August hearing]( The Singapore-based crypto lender halted operations in August 2022 after it lost US$317 million in TerraLabs’ Anchor Protocol. [StashAway logs $6.8m in revenue for 2022, losses land at $20m]( The company incurred US$27.4 million in expenses in 2022, down 5.8% compared to the previous year. [Unacademy unit snaps up SG startup to boost creator ecosystem reach]( Graphy, which became part of Unacademy in 2020, helps educators sell online courses and launch their own websites and apps. [Viu gets up to $300m boost from French TV operator]( This gives the streaming platform more firepower to compete with Netflix, whose spending on Asia-Pacific content could reach US$1.9 billion this year. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Generative AI is already disrupting marketing]( A survey of marketing leaders across three continents found that 70% already use applications like ChatGPT in their organizations. ---------------------------------------------------------------  IN PARTNERSHIP WITH All eyes on generative AI in Southeast Asia Picture this: You’re working on a presentation, and instead of doing everything yourself, you decide to get some help from AI. To build up your slide deck, you usually have to manually comb through reports and sift Google for information. But AI can do all that for you and more: it can pull data from your work documents and publicly available research to suggest content and stylistic edits. That’s what Mindverse aims to do with the launch of MindOS, its generative AI platform. MindOS allows companies to customize language learning models to create AI-driven work co-pilots, virtual assistants, and sales associates, among others. It democratizes the process of tapping into generative AI for businesses by offering a marketplace of template AI beings that can be borrowed or adapted. It also offers no- and low-code solutions so even firms with little or no technical knowledge can use the platform. Take the first step into the future today by signing up for an open beta account on MindOS on Mindverse’s [website](. ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this form](. Our team will get back to you by the next business day. - MyStorage - [MyStorage disrupts the storage industry in Vietnam with a high-tech approach]( On top of offering 5-star storage & moving solutions, MyStorage has focused on delivering seamless online features that take the storage experience in Vietnam to a whole new level. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asia’s Founders Meetup: Vietnam on June 28]( Our networking event, Founders Meetup: Vietnam, is happening in Ho Chi Minh City on June 28 at The Sentry, 2/F Sonatus Building. Join us and share the hardest challenges you’ve faced as a founder. To help you find solutions, we’ll introduce you to fellow founders who have been there and done that. Register today! - [SYNC 2023: Climate Tech on August 21]( Do you want to make a positive impact on the fight against climate change? Join SYNC 2023 on August 21 at Singapore's green haven, Gardens by the Bay, to learn more about sustainable innovation and eco-friendly practices. Besides spotlighting climate tech via this invite-only event, Tech in Asia is committed to reducing our carbon footprint. Be part of this movement towards a sustainable future - send in your application for a SYNC 2023 ticket today! ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Copyeditor]( at Tech in Asia Bangalore, India - [Senior Flutter Developer]( at Gluon Consulting Pte. Ltd. Singapore, Singapore - [Growth Analyst]( at Halodoc ID Jakarta, Indonesia - [eCommerce Specialist]( at Boleh Dicoba Digital Bandung, Java, Indonesia - [Customer Success Analyst]( at Koltiva Jakarta, Indonesia - [Personal Assistant to CEO]( at Octopus Indonesia Jakarta, 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 © 2023 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894