When your in-laws matter
In Malaysia, managing perceptions may matter more than merit.
The biggest problem with this newsletter is knowing when not to punch down.
This week, I wrestled with a few friends over whether to out a VC that recently received government-linked money but has a questionable portfolio company.
Questionable because it clearly doesn’t align with the current government’s stance towards marginalised groups.
Here’s low-hanging fruit (no pun intended). A classic case of government hypocrisy. A lack of due diligence. The list goes on.
Typically for haram stuff, there’s a carve-out clause imposed on VCs prohibiting investment in certain industries or companies.
But the anchor investor — in this case, the government-linked entity — should have known the background, track record, and portfolio companies the VC backed.
If it’s a private investment, no one cares. But here’s a VC that’s earmarked for public money, and there’s the question of it being used for investments that, well, do not align with policy.
I guess in my effort to punch up, I’d be punching down on people who are already stigmatised.
I had a kick sending off requests for replies and even had some funny headlines down pat.
But I’ve decided that article won’t see the light of day.
Now, let’s hope the tip-off doesn’t reach the wrong people. I doubt any amount of damage control would suffice if this goes out.
🚀 ICYMI: Yesterday, I published a founding members’ special on the leaks I didn’t pursue or publish during the wild years of 2019-2020.
The two I discussed in the piece were the bid for Malaysia’s largest highway and the tranche of documents on former CIMB chief Nazir Razak, during that 2016 tango with 1MDB.
Can check it out here 👇🏽
Today’s single-topic newsletter covers an important question: Does who you are — that is your family or that of your in-laws — matter?
This is coming back to the fore amid the race to lead a GLIC.
There’s elite homogamy, that is marrying within the same societal class.
And then there’s the burden of shouldering your family’s name, and that of your in-laws, particularly when you’re part of the cadre managing government-linked entities.