February Tech Round-Up: Playbook for Expanding a Tech Ecosystem
We hope you’ve had an enjoyable break and Lunar New Year celebration.
This month we feature North Ridge Partners’ contribution to the quest to diversify the tourism-based economy of Queenstown Lakes, New Zealand by expanding its fast-growing tech sector. A labour of love we’d like to share.
Enjoy, from all of us at NRP.
Original Thinking from North Ridge Partners
On 31 January 2024, the quest was launched to build a $1bn in annual tech GDP in Queenstown over the next 20 years. We’ve been at the heart of this project. Read about it here.
Worthwhile Reading
A retrospective from the inventors of the term ‘unicorn’, Cowboy Ventures - Welcome Back to the Unicorn Club, 10 Years Later.
Big Tech News
The aura about Sora.
Suddenly Sam Altman is everywhere. Is 2023’s wunderkind really seeking trillions to reshape the business of chips and AI? Some commentators aren’t too happy.
But Altman isn’t going to have it all is own way. Sundar Pichai is the Gemini Man.
The next 20 years of Meta. Is the Zuck the right man for the job?
Is Google Search pumping out garbage? That’s what the research suggests.
The fusion of mainstream tech and space continues, apace. How Amazon became the first tech giant in space.
Markets
Microsoft beats consensus with Cloud division driving momentum. Nadella attributes growth to investment in AI.
Apple’s Tim Cook shows how it’s done. With revenues up only by 2%, diluted eps was up 16%, driven by Services.
Amazon smashes expectations with strong revenue growth and cost control. Andy Jassy flags strong growth ahead.
Meta’s reversal of fortunes, going from the dog box in 2022 to market hero in 2024.
The Guardian calls an advertising slump, despite Alphabet’s 13% revenue uplift and cost control.
The bears come out as Tesla misses target. Now being labelled a trainwreck by commentators, how and when will the erratic genius bounce back?
Asia Pacific Tech News
Alibaba refocuses on e-commerce, considers divestments and a retail retreat.
These two Chinese eCommerce giants are at it again - Temu alleges Shein is using 'mafia-style intimidation' of suppliers to curtail growth.
VC funding pool for Japanese startups hits new highs.
"…rich multiples, liquidity and capital make an India IPO attractive," says CEO of Softbank-backed EdTech planning to shift its HQ from Singapore to India.
Health giant BUPA backs Aussie startups with $20m venture fund.
Stuff We Found Interesting
Be afraid. GPT-4 fires nukes in AI war simulation.
Tesla driver arrested for using Apple Vision Pro while on Autopilot.
Wait but why - Tim Urban spends 40 hours in the Vision Pro.
Tech Investment Banking Across Asia Pacific
North Ridge Partners advises tech companies across the Asia Pacific on strategy, capital raising and M&A. We’re experienced dealmakers who have built and sold many tech companies. In partnership with GP Bullhound, we have 200 bankers in 17 global offices.
Contact us here.
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