E01: Sea Group and Grab earnings, Sam Altman’s Congress testimony, Luckin Coffee entering Singapore

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May 19, 2023

The podcast dives into the latest quarterly reports from Sea and Grab, highlighting their financial performances and market strategies. Exciting advancements in Generative AI are explored, including the implications of Sam Altman's recent congressional testimony. The discussion also showcases Luckin Coffee's bold expansion into Singapore, analyzing potential challenges and strategies in a competitive market. Tune in for insightful analysis and thought-provoking perspectives on business and technology trends!

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INSIGHT

Sea's Turnaround Shows Profit Over Hype

Sea cut costs and refocused after a huge market-cap fall and is now net-income profitable for two quarters.
Profitability shows discipline but investor excitement may take longer to return.

INSIGHT

Reporting Changes Shape Investor Narrative

Shopee stopped publishing its GMV in Q1, forcing analysts to estimate it from take-rates.
Removing metrics can be used to reshape investor narrative, not just to hide weakness.

ADVICE

Estimate GMV Using Historical Take-Rates

Calculate take-rate from past GMV and revenue to estimate current GMV when companies stop reporting it.
Use historical take-rates cautiously because they may differ from industry averages.

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Welcome to the inaugural episode of "Impulso," the podcast by Momentum Works where we explore the latest trends, breakthroughs, and stories from the worlds of business and technology. In this exciting debut, we delve into the first-quarter reports of two prominent tech companies, Sea and Grab, examine the fascinating advancements in Generative AI, and take a closer look at Luckin Coffee's ambitious expansion into Singapore. First, we tackle the Q1 reports of Sea and Grab, two influential players in Southeast Asia's rapidly evolving tech scene. We dissect their financial performance, strategic moves, and market outlooks, providing our listeners with valuable insights into the growth trajectories of these leading companies. Next, almost 6 months since ChatGPT's release, we dive into the captivating world of Generative AI, an emerging field that is revolutionising various industries. We discuss the latest developments, and ethical considerations surrounding this cutting-edge technology, including Sam Altman's recent congressional hearing. In the latter part of the episode, we turn our attention to Luckin Coffee, a Chinese coffee chain that has made waves with its rapid expansion and innovative business model. We examine Luckin Coffee's bold move into Singapore, analysing the challenges it may face in a highly competitive market dominated by established players. "Impulso" offers an engaging blend of insightful analysis and thought-provoking discussions to keep our listeners informed and inspired. Whether you're a tech enthusiast, a business professional, or simply curious about the latest developments, this episode will leave you craving more knowledge and understanding in the dynamic realm of business and technology. For more information, here are the reports and articles we mentioned in the episode: Our thoughts on Grab's Q1 2023 results: https://thelowdown.momentum.asia/our-thoughts-on-grabs-2023-q1-results/ Our thoughts on Sea's Q1 2023 results: https://thelowdown.momentum.asia/our-thoughts-on-sea-groups-2023-q1-results/ Apples to Apples: Benchmarking Shopee, Grab, GoTo and other major tech platforms: https://momentum.asia/product/apples-to-apples-making-sense-of-and-comparing-key-data-metrics-of-major-tech-platform-companies/ Apples to Apples 2.0 Benchmarking Major Tech Platforms Updated With Q4 And FY 2022 Results: https://momentum.asia/product/apples_to_apples_2-0/ Off the record: The future, by ChatGPT: https://momentum.asia/product/off-the-record-the-future-by-chatgpt/