Capital Ideas Podcast Uncovering overlooked tech opportunities and the next layer of AI
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Nov 6, 2025 Sugi Widjaja, a veteran technology analyst at Capital Group, shares his insights into Asia's tech landscape and overlooked opportunities. He explores how China's tech firms evolved from imitation to innovation, highlighting the rise of super apps and the mobile payment revolution. Sugi discusses the transformative impact of AI on revenue and productivity, as well as the importance of deep industry knowledge for investors. With valuable lessons from his career, he emphasizes the need for skepticism toward management narratives and the strategic selection of investments.
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Roadside Photo That Started A Friendship
- Sugi recounts being pulled over during a marketing trip because of an expired license plate sticker.
- The friendly police officer posed for a photo with them, leaving a memorable first meeting with Mike Gitlin.
Laid Off In The TMT Bubble
- Sugi was laid off during the 2001 TMT bubble burst while working in IT consulting.
- That experience taught him to always evaluate macro risks and industry disruptions when investing.
Pushing Nintendo To Leverage Its IP
- Sugi visited Nintendo in 2012 and argued they could leverage IP like Disney did.
- He gifted management HBS case studies and Michael Eisner's autobiography to explain the pivot to IP monetization.