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.

© North Ridge Partners 2023

Singapore, Australia, New Zealand