A few things we can all agree on. While the combined market of SEA region is attractive, the incentives and the win at all cost mentality is making losers out of all the story-tellers. Actually this mindset is not unique to these disrupters, it happens in many industries and amongst countries as well. Of course this imbalance wont go on perpetually, at some point they will either merge or exit.
And the super-app story where one can get everything in one app is probably the best story of them all. Again, while the envisioned end game might sound extremely attractive, the reality of it happening is exceedingly low. (This is somewhat akin to someone hoping to win a $12M toto and talking about what happens after winning.) Some business are inherently very unattractive to begin with. Having it all is really quite pointless. Forcing it to happen will bring no happiness, especially for investors.
Again, I do not have deep insights into these companies as they do not fall in the what I am able to confidently value. Thus I know only enough to avoid. I speak from a normal business perspective.
And the super-app story where one can get everything in one app is probably the best story of them all. Again, while the envisioned end game might sound extremely attractive, the reality of it happening is exceedingly low. (This is somewhat akin to someone hoping to win a $12M toto and talking about what happens after winning.) Some business are inherently very unattractive to begin with. Having it all is really quite pointless. Forcing it to happen will bring no happiness, especially for investors.
Again, I do not have deep insights into these companies as they do not fall in the what I am able to confidently value. Thus I know only enough to avoid. I speak from a normal business perspective.