Stop Chasing Unicorns - E719
"People walked away from $50 million transactions because they felt like they could go much higher, much faster. Unfortunately, almost all the stories I know of, when they walked away, they ran out of runway. It is zero. An outcome is an outcome, and founders should not look down on it."
"The ones that are doing well, the ones that are continuing to get investor interest and scale, are the ones that had the unit economics fundamentals correct from the start. A market like Southeast Asia is going to require businesses that have a good gross margin because they cannot be over-reliant on venture capital for too long."
"The proximity in Southeast Asia has, for the first time in a long time, become an asset, not a liability. In AI, you build a moat really fast, but you lose it really fast if you are doing something global and generic. The Southeast Asia opportunity allows you to build a moat very deeply in specific verticals like agriculture and waste management."
Jeremy Au joins an episode of The Accidental VC podcast. Hosted by seasoned founders and VCs from ANZ and SEA, this show reveals how unlikely beginnings can lead to extraordinary outcomes. Whether you’re building, backing, or just curious—tune in for stories, strategies, and sharp takes from those who’ve been there.
In this episode, we explore the thought that “Everyone wants a unicorn. But what if that's the wrong goal?” Mohan Belani and Jeremy Au join Milan Reinartz to challenge what founders and investors think they know about building in Southeast Asia, from venture capital and AI to startup exits, global expansion, and the future of entrepreneurship.
Support The Accidental VC: https://www.youtube.com/@TheAccidentalVC
00:00 Intro
02:44 What 2026 actually looks like in Southeast Asia
07:10 Big problems, small wallets: who in the region can actually pay
10:00 Why a $50 million exit is a real outcome
11:14 Power law investing vs micro private equity
17:13 Block lays off 40% and blames AI
18:43 Is Southeast Asia facing a K-shaped economy?
26:21 Future shock: a Waymo, a Costco chicken and no jobs
27:59 What founders should focus on now
31:03 Moat building in the age of AI
36:48 Quick fire: biggest wins and fails in VC
Watch on YouTube: https://www.youtube.com/watch?v=cqxpxExneaw&list=PLl9u6ECOP8_7scb97PE3whKu4yJVizIOd
Listen on Spotify: https://open.spotify.com/episode/4IjJq8heI78xXAHVA8CcXS
Keywords: Southeast Asia Venture Capital, Startup Unit Economics, Artificial Intelligence in SEA, Micro Private Equity, Tech Startup Exits, Tech Layoffs and AI Automation, Southeast Asia AI Moats
