ASEAN’s Race to Overtake China - Peng Ong | Endgame
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A philosophical conversation about the future of AI between an engineer turned investor and an investor turned educator. Peng and Gita also discuss the urgency for Southeast Asia to ramp up its education, entrepreneurship, and leadership to be able to play on a global stage.
Peng Ong is the Co-founder and Managing Partner of Southeast Asia’s top early-stage tech venture capital firm, Monk's Hill Ventures. He has more than 25 years of industry experience as an entrepreneur, founder, and investor, both in Silicon Valley and Asia. Peng has co-founded several successful companies, including Match.com, Interwoven, and Encentuate, which collectively generate over 1 billion USD in revenues annually.
Peng and Gita are Trustees of the Angsana Council, a not-for-profit advisory council focused on examining technology and its role in driving equitable and sustainable growth across Southeast Asia.
Visit and get to know more about Angsana Council:
angsanacouncil.org/
/ angsana-council
#Endgame #GitaWirjawan #PengOng
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About the host:
Gita Wirjawan is an Indonesian entrepreneur, educator, and currently a visiting scholar at The Shorenstein Asia-Pacific Research Center (APARC), Stanford University. Gita is also just appointed as an Honorary Professor of Politics and International Relations in the School of Politics and International Relations, University of Nottingham, UK.
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Supplementary Readings:
www.periplus.com/p/9781483450...
www.periplus.com/p/9781524762...
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Understand this Episode Better:
sgpp.me/eps169notes
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• Daring Entrepreneurs
• Wandering Scientists
• The Take
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Chapters
0:00:00 - Intro
0:01:01 - Background
0:11:46 - Investment Philosophy
0:32:18 - Cognition, Nutrition, Money
1:03:35 - Tech Hegemony
1:21:05 - The Next Stage of AI
Mr. Peng should be a regular guess of Endgame show, definitely can't wait the 2nd episode!
Thanks Endgame team for cultivating this knowledge!
Thanks for sharing the idea and wisdom pak Gita and Peng Ong ❤ discourse about education and meritocracy thrilled me the most
Our pleasure!
I agree that having ability to speak english is important..
Peng Ong is the Co-founder and Managing Partner of Southeast Asia’s top early-stage tech venture capital firm, Monk's Hill Ventures. He has more than 25 years of industry experience as an entrepreneur, founder, and investor, both in Silicon Valley and Asia. Peng has co-founded several successful companies, including Match.com , Interwoven, and Encentuate, which collectively generate over 1 billion USD in revenues annually.
Peng and Pak Gita are Trustees of the Angsana Council, a not-for-profit advisory council focused on examining technology and its role in driving equitable and sustainable growth across Southeast Asia.
angsanacouncil.org/
*The Conversation*
00:00 - Highlight
00:45 - Introduction
*Background*
01:01 - Upbringing
• [01:15] Valuing hard work, honesty
02:07 - A bookphile : Peng’s curiosity is driven by reading books
03:33 - Education in fostering curiosity
04:54 - (Late) Mom’s role in Peng’s life
05:58 - Behind the name “Monk’s Hill” : To always remind its people that your background doesn’t matter much, but your thinking of the world and how you engage with the people.
_“You’re boxed in when you let yourself be boxed.”_ -Peng Ong
07:53 - Dad’s parenting style :
• Supporting intellectual pursuit
• Carrot as opposed to stick
• Sense of confidence & security
10:05 - Peng’s heroes : Bill Gates and Steve Jobs
*Investment Philosophy*
11:46 - Peng’s entrepreneurial journey
• [15:20] China vs US entrepreneurship landscape
17:59 - The birth story and investment philosophy of Monk’s Hills⭐
• [20:03] Philosopher-warrior-nurturer founders : Know why and know how
• [22:30] Mistakes in investing
_“People don’t tell you stuff if you don’t want to hear stuff.”_ -Peng Ong
_“The older I get, the less I trust myself in positive decisions about people, so we start building systems around that.”_ -Peng Ong
[24:38] Momentum trader vs fundamentalist
29:03 - Gita Wirjawan takes on unconsciousness entails arrogance
*Cognition, Nutrition, Money⭐*
32:18 - How does SEA underperform in comparison to China and how does Peng see it forward
• [32:54] Economy
• [33:25] Education
• [35:48] Nutrition
• [36:59] Internationalization
39:04 - #GitaWirjawanLecture : PISA and international language proficiency
• [40:17] Peng T Ong : We can’t rely solely on schools to teach English to our children because not many qualified teachers can do it. Therefore, we need to take advantage of other verticals.
• [43:09] Peng T Ong : You can’t be a software engineer and doctor if you don’t know English. English is the world's default language today-whether you like it or not.
• [44:17] Peng T Ong : People who can transact in English make more money.
44:35 - #GitaWirjawanLecture : STEM
• [46:12] Peng T Ong : _This is the time we are about to disrupt the world again with software and this is a time for countries to think very strategically about what they can do._
• [47:07] Peng T Ong : Indonesia has the money, not the crusade.
48:17 - #GitaWirjawanLecture : Teacher
• [49:09] Peng T Ong : A lot of people in the education domain don’t care about kids, they just want to receive a paycheck.
_“We've taken the nobility out of being a teacher. And I think, it's probably at least half a generation to fix that problem … if we start today-which we're not starting.”_ -Peng Ong
52:10 - #GitaWirjawanLecture : Multipolarizaton and productivity
• [53:05] Peng T Ong : _The fact that the world is getting more and more efficient leaves you less and less places to hide._
54:42 - #GitaWirjawanLecture : Meritocracy
• [55:45] Series of serendipities in Singapore
_“Great leaders can make huge differences.”_ -Peng Ong
• [58:58] Democracy : West vs. East
1:01:51 - Angsana Council
*Technology Hegemony*
1:03:35 - #GitaWirjawanLecture : Computer hegemony
1:04:23 - AI Straight Jacket :⭐
• Traceability
• Predictability
• Transparency
1:08:38 - Deadly aspect of AI : The untended consequences of tech development
• [1:09:54] Question vs cultivate⭐
• [1:10:33] Peng T Ong : We lack thoughtful system construction.
• [1:11:55] Gita Wirjawan : Technologists act like they know about what they’re doing, but they actually don’t. It’s fine if it doesn’t impact humanity, but AI is.
1:14:59 - Future outlook of AI
*The Next Stage of AI*
1:21:05 - #GitaWirjawanLecture : Positive growth
• [1:22:27] New engine : Service industry
1:26:40 - AGI🔥
• Peng T Ong : No one has a single definition of AGI
_“The sign I’m looking for is the first AI that creates an AI better than the human-created AI.”_ -Peng Ong
[1:28:38] Peng T Ong : AGI can help us reconfigure our economic system.
1:30:57 - ASI
1:31:40 - Peng T Ong : _I’m so grateful to be alive in this part of history._
*External Links & Further Reads*
Other Endgame Episodes on AI x Talent
czcams.com/video/Xx2omXsFr6M/video.htmlsi=DrTQvCscZqVgVxPM
czcams.com/video/yln9TcNRw8w/video.htmlsi=clntpbxV_zcmsFr3
czcams.com/video/tKPmBiXPMCU/video.htmlsi=H_i_Pbi8GUleGYQM
czcams.com/video/EesIeiojw08/video.htmlsi=Q7rTOMfo7E0A3ZuK
References from the Content Development
www.monkshill.com/content-hub/what-i-look-for-in-startups
angsanacouncil.org/member/mr-peng-t-ong/
www.monkshill.com/content-hub/empathy-human-vs-ai
czcams.com/video/PzjCXj0rZnI/video.html
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sgpp.me/eps169notes
Good
Thank you so much
Really a great talk, I'm looking forward to have another episode with Mr. Peng Ong!
Not even 5 mins in and I agreed with everything Mr. Peng had to say.
Makasih pak Gita & team u/ usahanya dalam menyebarkan informasi dari tamu2 with big brains.
Gita jkt48 dan pak gita Wirjawan adalah salah dua dari idola saya 😂😂😂
Terima kasih atas podcast nya pak respect 🙏🏻🙏🏻🔥
Fantastic discussion!
Thank you endgame, it's very fruitfull discussion
Terimakasih pak Gita, podcast anda sangat membuka wawasan untuk generasi muda, Thumbs up!
Saran buat undang pak Ignasius Jonan
Luar biasa Pak Gita 👍
Sallam inspiring Bapak Gita, dan bapak merupakan salah satu motivator bagi saya, semoga suatu hari nanti saya bisa bertemu dengan bapak Amin..
Konten pertama yg d tonton d tahun 2024.
Peng Ong, the leader and founder of Monk’s Hill Ventures, shares insights into his upbringing in Singapore and the values instilled by his family. He criticizes the lack of curiosity and play in the educational system, highlighting investments in companies aiming to disrupt this mindset.
Ong discusses his entrepreneurial journey, emphasizing his early involvement in startups and pre-seed investments. The conversation touches on Monk’s Hill Ventures' approach, focusing on solid unit economics and supporting clear-minded founders. Ong explores the challenges and opportunities in Southeast Asia's tech industry, emphasizing the need for regional collaboration and competition. He also addresses ethical considerations in AI development and envisions the growth potential of Southeast Asia.
STEM life science
ya
asean needs a single currency like euro if it wants to overtake, which it can
The only good thing of how bad the education system is I’m sure that my children can compete in the workforce after he graduates 😅
Pak Gita, you have not had any interviewee with Chinese philosopher or public figures.
Yang mareng mas Mardigu dong biar seru
Common first question raised by most muslim commoners:
Apa agamanya Peng Ong?
5:08 at least you're not his real friend dude. Be honest by telling people a business partner and friend.
Please discuss with intelligent people what strategies can be done to Freeing Palestine.
It is hard to differentiate the competent good people from the bad ones. I think choosing who we’re going to trust takes a lot more than just looking at their achievement, we need to see their personalities and past history with people too.