Hello from the beautiful sunny San Francisco! As the “work from home” (WFH) situation continues, I am moving this week (not to Miami or Austin), but two blocks away to a bigger place.
According to the IMF, the combined GDP of China, Japan, and Korea ($23.81 trillion) has overtook the U.S. ($22.67 trillion) in 2021.
For global companies, building an Asian presence is a must and cannot be ignored. Instead of treating Asia as a sideshow, they must act on the assumption that success in Asian markets is necessary for survival.
In Asia’s hyper-competitive markets, many global companies face intense competition from low-cost local players (think Uber vs Didi); customers with modest and lower than US incomes, and fragmented distribution channels. The savviest operators are trading their old and centralized management practices— for leaner, faster, more flexible, and regionally collaborative ones. They are strengthening their Asian operations by creating small, fast, and entrepreneurial regional leadership teams.
And this week, I am excited to host some of these entrepreneurial regional leaders from Flexport, WeWork, Airbnb and Airwallex at FoundersHK. I want to learn their war stories and talk about how they make their mark and compete in Asia.