Why Jeff Bezos Is Backing This Millennial Founder’s Indonesian Start-Up
November 1, 2021
June 16, 2022
Despite the shaky short-term outlook, Anand said founders in Southeast Asia still have “growing ambitions.”
“For example, you’re starting to see a lot of companies get started in Southeast Asia, but … serving regional and global market.”
He added that “a new generation of founders” is also emerging, as the first generation of tech companies like GoTo and Grab have gone public.
“Their [executives] are now starting new companies and these are seasoned operators … They’re frankly, aiming higher than the companies that they came from,” Anand explained.
However, what will change for new start-ups and founders would be their “access to capital” and hence, short-term strategy.
“This period of free capital or very cheap capital that resulted in certain design choices that the big companies got built on, that’s going to likely not be present in the next year,” he said.
“Founders just have to be more sensible, more focused on fundamentals, more focused on durable and enduring business models.”
Anand said that Sequoia’s focus as long-term investors is building “strong corporate governance.”
“I would characterize our market as sort of through little bit of its teenage years … lots of companies are getting created and we’re all working together to get to a place where the market is more mature,” he added.
This includes building “enduring business models” together with the founder and others in the ecosystem.
“I think what we’re seeing is some of the teething challenges in the market, which is understandable given the rate at which everything is going.”
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