Gita Sjahrir: Indonesia TikTok Shop Ban, Cloud Kitchen Shutdowns & Founder Market Adaption - E338

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Recorded05 Nov 2023

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Handlerec:7818225

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Gita Rusmida Sjahrir, Head of Investments at BNI Ventures, and Jeremy Au talked about three main themes: 1. Business Model Localization: We dissect why Grab, Gojek with Rebel Foods, and DishServe have closed over 100 Indonesian cloud kitchens over the past year. Gita and I discuss the criticality of tailoring the model to fit local dynamics, highlighting factors like GDP per capita, time availability, food distribution, and urban design. We discussed that the driving factors were not the destruction of demand, but instead the misalignment of the business model with consumer behavior. For example, Indonesia's cloud kitchen prices and margins were highly competed by current food models, like ordering food for delivery from local restaurants, cooking at home, or going to a local eatery. 2. Indonesia TikTok Shop Ban: We talked about TikTok Shop’s ban in Indonesia and the scrutiny it faces worldwide in the USA, India, and Vietnam. Gita highlighted the need for understanding the nascent political landscape of Indonesia and policy decisions in response to viral issues. She stressed the importance of fostering win-win relationships with regulatory bodies rather than falling into adversarial dynamics, thereby safeguarding startup enterprise value and helping local communities. We compared this to the Airbnb bans in Singapore and NYC, and the differing outcomes for Uber and Didi's relationships with their USA and China regulators. 3. Founder Adaption to Market: We discussed the importance of founders, both local and immigrants, to approach the local markets with humility and how it should not be mistaken for lack of confidence, but rather be seen as a strategic advantage and a means to ensure that innovations brought forth by startups are received positively by the community. We agreed that founders must be willing to learn from the market, and iterate their approach in a way that both respects and leverages the local context, ensuring their value proposition is both clear and compelling. We also touched upon the impact of cultural understanding in shaping business strategy, the necessity for founders to view their journey through a scientist's lens, the role of leadership in turbulent times, and the evolution of consumer behavior in the region. Watch, listen or read the full insight at https://www.bravesea.com/blog/tiktok-shop-ban Get transcripts, startup resources & community discussions at www.bravesea.com WhatsApp: https://whatsapp.com/channel/0029VakR55X6BIElUEvkN02e Spotify: https://open.spotify.com/show/4TnqkaWpTT181lMA8xNu0T YouTube: https://www.youtube.com/@JeremyAu Apple Podcasts: https://podcasts.apple.com/sg/podcast/brave-southeast-asia-tech-singapore-indonesia-vietnam/id1506890464 Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkLnBvZC5jby9icmF2ZWR5bmFtaWNz TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter: https://twitter.com/jeremyau LinkedIn: https://www.linkedin.com/company/bravesea Learn more about Fluid! Get in touch with Trasy, Fluid’s cofounder at [email protected]

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