Weekend shopping spree
Deals, hustles and money games.
In Malaysia, AI blames AI.
Prime Minister Anwar Ibrahim (AI) targeted artificial intelligence (AI) and new technology as culprits behind retrenchments at Petronas.
Of course, we know the national oil company’s downsizing had nothing to do with algorithms gone rogue.
A bloated workforce, tough unit economics and endless politicking turned Malaysia’s crown jewel into a liability.
Meanwhile, YTL rolled out its own large language model, Ilmu, and boasted an android named Terry.
Well, it was a Terry-ble moment when the bot malfunctioned in front of a VVIP crowd featuring none other than A(nwar) I(brahim).
Perhaps the budget couldn’t stretch to a test run.
But the bitter truth is that smaller or lesser-known startups, with far less cash, can execute an LLM or even android that doesn’t crash at their launch party, usually a minimalist affair when it comes to VVIPs.
Too bad, what all these capable but broke founders can do now is post their wins online or wait for a cash-rich conglomerate to swoop in.
This Sunday’s NIE covers:
the acquisition buzz around BigPay
the corporate moves of the Pahang royal family
a sweep of tech updates, from Grab’s profit quarterly streak to fresh government-linked bets.
And, the usual ICYMIs 👇🏾
You’re reading a paid version of The Malaysianist, a newsletter on money and power by writer and journalist Emmanuel Samarathisa.
I run monthly and annual subscriptions. There’s also the atas or founding member tier where you get all the perks of an annual subscription and more, such as an annual or founder’s report and insight into how this little corner of the internet fared throughout the year.
Group subscriptions are on the table, if you’re mulling over purchases for your organisation or for family members.
This is somewhat inspired by Monday’s piece on TNG Digital.
Capital A’s struggling fintech arm BigPay is up for sale and a Malaysian bank has emerged as a potential buyer.