E20: Twitter becomes X, Grab buys Trans-cab, Temu enters South Korea, and EV motorcycles in Indonesia

Elon Musk, the visionary entrepreneur, stunned the tech world with Twitter's rapid rebranding into "X," marking the beginning of the platform's ambitious transformation into an "everything app." Aligning with Musk's vision for an all-encompassing superapp like China's WeChat, Twitter's transition to X has sparked curiosity and skepticism due to its apparent lack of planning and surprising speed. However, as the platform undergoes this metamorphosis, we explore the potential implications for language and culture, considering the legacy of Twitter's iconic influence.  Next, we turn our focus to Temu, the rising star in the e-commerce realm, now boasting a presence in an astounding 27 countries, including its latest venture into South Korea. As we unpack Temu's rapid growth and strategic expansion, we ponder the possibilities of the company venturing into Southeast Asia (SEA), potentially challenging established players like Shopee, Lazada, AliExpress, and TikTok Shop. We explore the factors fueling Temu's success, the potential impact on SEA's e-commerce landscape, and how this enterprising company is poised to transform the global e-commerce market. In the realm of ride-hailing, Grab has made a significant move by acquiring Trans-cab, Singapore's third-largest licensed taxi operator. With the aim of addressing supply-demand dynamics, Grab's strategic acquisition signals a departure from the traditional ride-hailing model. We analyze the implications of Grab's ownership of a taxi fleet, potential strategies in other Southeast Asian markets, and the implications for ride-hailing consumers and drivers alike. Shifting gears to Indonesia's electric vehicle (EV) market, we explore the rise of Maka Motors, a homegrown EV maker founded by GoJek executives. With a recent seed funding of $37.6 million, Maka Motors is set to play a pivotal role in Indonesia's electrification journey. As projections indicate a booming EV market in Indonesia, we discuss the potential impact on the automotive landscape and how Maka Motors aims to drive innovation and sustainability in the region. Referenced in this episode: Who is Temu? https://momentum.asia/product/who-is-temu/ Temu enters South Korea https://thelowdown.momentum.asia/temu-enters-south-korea/