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Tech layoffs in Southeast Asia rise as unprofitable startups seek to expand their leads

Tech layoffs in Southeast Asia rise as unprofitable startups seek to expand their leads

Shopee has reportedly made three rounds of layoffs this year as its parent company, Sea Limited, struggles for profitability. Lauryn Ishak | Bloomberg | Getty Images More tech startups in Southeast Asia have laid off workers this year as macro headwinds deepened losses and venture capitalists pushed startups to expand their leads. Last week, online …

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SoftBank leads the way in losing money on tech bets

SoftBank leads the way in losing money on tech bets

Shortly after the revelation of FTX’s collapse last week, the name SoftBank appeared among the first backers of the struggling cryptocurrency exchange. Inevitably, maybe. The Japanese tech conglomerate, its insiders say, will fully write down its FTX investment by around $100 million: Horrifying but, when placed against the more dramatic $10 billion investment loss that …

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