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    e272026-03-11

    What scaling in Asia teaches you that Silicon Valley doesn’t

    Originally published in e27 on 2026-03-11.

    Read Original Article on e27

    Core Argument

    Silicon Valley has become the global reference point for how companies scale, but it represents a specific environment: capital abundant, infrastructure reliable, institutions predictable, failure socially tolerated. Asia operates under a very different set of realities, and a decade working inside and alongside businesses across South Asia and emerging Asian markets shaped an understanding of scale no imported playbook could. Survival is not a phase in Asia, it is strategy. Currency volatility, regulatory ambiguity, political change and supply chain fragility mean growth cannot be pursued in isolation from resilience. Cash flow is insurance, not merely a metric. Profitability is a shield against uncertainty, not an end goal deferred to later stages. Capital is treated as a tool, not a crutch. Access to funding in Asia is often relationship-driven and episodic, forcing founders to develop a deeper respect for unit economics and cost discipline far earlier than the fundraising-as-rite-of-passage model normalises. Capital becomes an accelerant rather than a lifeline. Systems matter more than speed. Uneven execution environments and limited institutional safeguards mean scaling cannot rely on individual heroics. Founders transition from doers to architects sooner than they might prefer, not aspirationally but as a survival requirement. Culture functions as an operating system rather than a value statement, engineered deliberately because alignment across multi-generational, hierarchical, culturally diverse teams cannot be assumed. Growth is non-linear, and that is acceptable: bursts of expansion, plateaus, deliberate contractions, external shocks. What matters is the ability to restart growth repeatedly, not uninterrupted acceleration. People scale before products do, since experienced operators are scarce and managers must be developed rather than merely hired. And context always wins over playbooks. Strategies that succeed in San Francisco or London often fail transplanted wholesale into Colombo or Jakarta, not because the ideas are wrong but because context was treated as secondary. Silicon Valley teaches speed. Asia teaches endurance. The future will belong to those who learned how to scale when nothing was guaranteed.

    What I'd Revise Now

    This column made a claim about how Asian founders relate to capital, and 2025's numbers are the test case, not a hypothetical one. Regional venture funding fell to a seven-year low in 2025, according to DealStreetAsia and Kickstart Ventures, and concentrated hard: Singapore alone captured 78.1 percent of Southeast Asia's equity funding value in the second half of the year, up sharply, while funding elsewhere in the region contracted. That is close to the scenario this column describes as normal rather than exceptional, capital becoming episodic and relationship-driven, funding pausing for founders outside the favoured centre. The column's claim was that founders who treat capital as an accelerant rather than a lifeline are the ones who function through exactly this kind of contraction. 2025 gave that claim a real test across the whole region simultaneously, rather than a single company's story. I don't have founder-level data on which companies survived the funding contraction and on what terms, so I can't confirm the mechanism held. What I can confirm is that the environment this column predicted, capital scarce, uneven and concentrated, arrived within the year, precisely as described.

    Key Takeaways

    • Survival is strategy in Asia, not a phase to move past; cash flow is insurance, profitability is a shield
    • Capital treated as an accelerant rather than a lifeline produces founders with earlier unit-economics discipline
    • Culture must be engineered as a coordination mechanism, not stated as a value, across diverse and hierarchical teams
    • Non-linear growth, bursts, plateaus, deliberate contractions, is normal; the skill is restarting, not uninterrupted acceleration
    • Context beats imported playbooks; strategies must be adapted from first principles, not transplanted wholesale

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