[S02:E12] Malaysia tak cukup peluang kerja? Entrepreneurs diperlukan!
I don’t want to see grab help Rider to buum though right you know you had a video recently about whether you should really buy a house right I don’t want to encourage people to do it for no reason right I think uh if you were to take on
Financing or de or whatever one of the things people need to learn Is Good morning I guest special TI to very similar tode yeah okay so Tik Tok ah thanks a lot for coming uh it’s been a pleasure to to be able to see someone young the way that you content informative so I started after getting some uh advice from my team at Pama digital back
Then digital okay and uh what happens is that I’m someone who shares a lot of knowledge I like to talk to my team upgrade their talent uh try to get them to explore new areas of their capabilities that’s your leadership yeah right and I started to hear that people
Said hey you share okay with more people to the world yeah so so it first started with uh people asking me to what video internal use company okay and I said it’s not natural to me right but eventually I got the hang of it I got
Some you know a great team to to to uh put me on the right path and I’m quite pleased with the content that we have created okay so so the content like informative something scr scroll scr because we know that alith they know that we like I mean people like
Me very very informative simple just simple enough for us to understand without cranking our brains okay main Market company all right so main Market listed on B Malaysia and dig C bad right so cotop bhad was in the business of uh manufacturing Ken okay and they had a brand called John
Master yeah I know John Master ah so John master was all right um from 1980s onwards not too expensive okay yeah it was a it was a everyday Workman wear right okay and uh they a got popular but of course in 2000s onwards competition was very hot okay so manufacturing is one thing
But the High Street retail Brands Zara Top Shop Marx and Spencer all these Brands all started coming in eating into the space right uh uni you know Brands like this and so their market share started to decline and it came to a point where they needed to trans form
Okay so that was about 2018 2019 okay and at that time uh digital right how are we going to explore digital world you know and a lot of these companies are Legacy companies Legacy Management and that transformation is almost like going to the moon it’s so difficult to do uh and
They always think of you know let’s talk call in some Consultants okay let’s see how we can uh get some advice on where to go with this company and typically they get advice around the typical ofin Tech or J reseller cloud services J contractor government you know like
These are the kind of advice that they get and uh uh I was a consultant as well at that point and so I came in and said to them the Malay there’s one big opportunity which is government digitalization in particular so it’s not about uh digital banking it’s not about
Ewallet it’s not about uh you know cloud services C these things are all important but the bigger spy that is untouched right now is still government digitalization right and uh I said if you want to actually build something of uh value why don’t we go into this okay
Can you give one few examples of uh government services digitalize can digital at the point on the way to getting there okay so uh let’s let’s let’s say this uh right we have to fill out a physical form mhm and that form needs to be
Chopped by the doctor or the uh nurse or whatever and then we have to bring that form somewhere submit the the card from jpn the birth and all that kind of stuff that process can be automated and digitalized right imagine in the in the uh of course the joyous day of your life
But it is such a stressful day busy day you handling grandparents you know people want to Zara all that and then you still have to go and do this paperwork right so that can be automated and other countries have done it using uh digital ID which is something that I’m a champion
Of okay so um but what was before digital so I uh I’ve always been an entrepreneur so I I’m a usan okay and I have been like this since right so from primary school onwards to be honest I used to sell uh maala in school I used to sell uh
Collectible pens uh once we went to secondary school it used to be uh used mobile phones right which I then sold to my foreign worker friend to Jo at Sri Lanka Bangladesh right so I’ve been doing all this all my life uh I I I had an interesting household because on one
Side I had an educator as a parent my mother she was a school principal on other side I had a father who was a hardcore entrepreneur right so he was like that as well you know he’s always doing business striking deals selling you know and uh and uh and growing his
Wealth in that way and so I saw the the benefits of both sides but I started to steer a lot more to the entrepreneur side okay so uh I attended College I went on to read law um but all the way while I was studying I was still doing
Business oh wait so so you did legal I did legal yeah ah uh background a bit for those who are uninitiated uh you are not a Malayan I am from I’m South Malaysian in Singapore South Malayan joans would be you call yourself a soft malan
Yeah uh I believe we are one okay I believe we one yeah because uh both parties keep on coming to and visit each other indeed we are like the family member that uh actually come and visit each other and we like to but actually we love each other yeah and we enjoy
Each other’s offerings especially when sing Point come to Malaysia they become a bird chip chip chip chip chip chip chip chip chip chip that is the first time I’ve heard that and it’s a wonderful joke I’ll I’ll take it from now on uh I took it from someone
Else no no actually it wasn’t a joke when when he said it they bu warning to singapor when you come to Malaysia don’t become a bird they keep on saying wow so cheap so cheap because because when I mean he’s saying this for his own sake singap this is so cheap what do
They do they raise the prices they increase the prices then then uh every including Malaysia so that’s good entrepreneurship right but at the same time uh for me I look at the cheap chap cheap thing from another perspective for us it’s not cheap oh it’s not for us
Living in Malaysia oh okay it’s not cheap right so yeah if you divide everything by three and a half everything becomes cheap but to be honest uh we can’t compare in that way and every country that that has a land border uh one having a stronger economy
Than the other has the same problem right you have it with Max in the US as well that’s right right uh you have it with Spain and Morocco right that this is a short fery right away there the same issue but um um I think singaporeans could be a
Bit more sensitive yeah they can they can uh and then of course there comments that singaporeans being singaporeans may be less sensitive than most people in the country maybe most most people in the in the [Laughter] world to become big because you you said that you coming from a line of entrepreneurs
And you are an entrepreneur y if other than government digitization something that maybe quite big big end of all uh something on ground right now okay so one of the the the earliest business I in London was uh a con service so at time uh my parents were like you know we
Already sponsored your education okay we not going to buy you a car right right I want you to uh work for it right so uh what I decided to do was I started a coner service and you know Malaysia sorry London is like the second home for Malaysia VIP right every holiday holay
Summer holiday Christmas holiday all go there right so what I did was at that time there was only Facebook Messenger the Instagram Tik Tok Twitter also was just in its early days okay and so what I did was I went to Facebook and I marketed to an an
VIP through Facebook right and they were all these Malaysian student Society right and I said look if any of your parents are coming or whatever can you please let them know that I can pick them up at the airport I you all shopping vage
I I can bring you for all I can bring you okay so what happens is people started to book and my rates at that time were uh pound per week right so I charge you on a weekly basis and uh I was fully booked right so I think a
Business like that why is it good why because first you uh uh you are spending your own effort and time um as a premium okay uh you don’t need a big team right the only asset you need is your your your your time and maybe a vehicle um some online
Marketing and the best thing that happened is that I made a lot of connections in network right because I was spending time in C with people that uh the who’s who in Malaysia right and uh that’s what attracts me to actually move to Malaysia because I launched this
Business that put me in the driver’s seat literally next to people who were caps of Industry right uh so I think a lot of young people should be doing that tourism in Malaysia needs a big boost you know we don’t want people to keep running away to okay can you know so uh
I think young people or people who are looking to start a business one thing you can do is going into tourism I just I was in M over the over December holidays MH and I uh hired a tour guide and uh for a day the fee was about 1,000 plus
Ring okay okay uh but she was amazing you know amazing uh I I think more people need to do things like that M so so you see this is a very human capital heavy business so for a business owner because we’re talking about business for us to
Expand uh one of the ways is to hire more people but to what extent you know uh these people once they are trained own Agency for example so uh the challenge with this job in particular is uh the demand why because you can have regular customer customer holiday booking it’s not always
The same of course so you you are you are kind of under overlap right so you must have a team where the demand uh of of of bookings can actually be shared amongst a few people baru as a team you are always getting the amount of Revenue that you
Need right otherwise you’re going to miss out on sales you know so for me for example on summer holiday I might get booking from a and then two days later but I I cannot because I already committed to this guy by right I should have a backup and I’ll say worry my
Backup you know he’s great he has the same car and he’ll pick you up you see then I can do some Revenue share so that’s how we have to think you know the thing about entrepreneurship we have to stop thinking about it as how what is in
It for me mhm I think entrepreneurship need to change a little bit and think about what I can do for others and how I can uh Channel value to other people what do you think about uh social entrepreneurship I mean love we have a Social and we have Vice have Vice
Businesses whatever they sell is not just uh uh bad but detrimental to the purchasers but social entrepreneurship they whatever they sell is actually for something good something good for the community so is this a space that Malaysia or Malaysians will tap into and what examples are there
Okay so uh I think in the Malaysian context sometimes when we look at social entrepreneurship we think of okay adct or whatever all of you do some handicraft and then you know this a very low value item and then some of this goes back to NGO and all that I think
That’s sometimes what we view as social entrepreneurship but I think we need to really expand it a lot wider than that so one of my uh uh I’ll say my Idols are I don’t know whether that’s the right word but it’s someone that I really look
Up to is a gentleman he’s a Nobel Peace Prize winner uh his name is Muhammad yunus Muhammad yunus started uh this bank called gramine Bank in Bangladesh and and what they did was uh he was extending microloan to groups of women at a time five to seven women um and he
Would tell them or train them and say that you all need to B Because B demand M right so you all are in the village you need to make this item because I can help you sell it if you go and make something which has no Demand right no
Use right so if you can do this I will help you to uh set up your business and I’ll give you the capital so that’s what he did and so he started that in the 1970s and graine bank has grown even now it is u a profitable bank
Right it is not HSBC you know but it has it is a bank that has created so much value uh amongst women in particular and he had a very interesting uh finding which is that women are actually better uh pay masters than men than men right because women typically are
Incorruptible especially when they have families actually coming from the bank I mean we have income and commitment they said that because this is what yeah social pressure yes social pressure although the conversation between the phone caller the bank and the borrower it’s just between them you don’t have to
Tell going back to the to the bank uh what what stops this Bank from instead of extending a loan because a loan comes with uh interest profit profit L for Islamic financing but it is still a commitment that you are obliged to pay but what if this uh Bank instead of
Extend them alone of financing invest for a share so I uh I think of course that’s an opportunity as well I a lot of these facilities were actually designed as I would say Venture debt let’s put it that way right in the sense that at a certain point if business to
Mau and uh there was a chance for the bank to take a share they can actually do so right so in startup world you call it a safe note right Safe Note is when a investor uh gives you money and it’s actually Dead uh but at a future time
They or future point they can convert it into Equity right so uh that can also be done for this kind of small businesses but the challenge is this I think social businesses um you know the why I mentioned gramine Bank in particular is because we need to think bigger right
The impact so we have these five digital banks that have just come out right right and I’ve been uh you know quite uh vocal about it that’s right yeah and I think the reason why bang nagara releases a license when we already have something like 20 retail Banks is
Because they want to see innovation in the space especially when it comes to serving the unders serve and in fact if you look at the digital Bank B framework that bank Nala released I think it was 2020 it clearly says unders surve right UND surve right the thing is some of
These applicants they have I wouldn’t say twist but they have defined unders surf uh quite liberally including for example uhme and they’re saying that smmes are also unders serve maybe yes true maybe not enough like you know to open an bank account is quite a complicated process uh the bank portals
None of them are great right all of them are still quite archaic in terms of what they look like and all that perhaps it is unders maybe smmes need to have access to loan or Capital uh even earlier than 3 years right by using other data points to credit score them
Perhaps I believe in all that but what about the urban sorry the the rural people mhm our rural Malaysians right who are sitting in all these Corners outside of our Urban hubs how are we going to extend them the opportunity to start a business and to actually close
The social economic Gap they’re going to have that problem right I meet a lot of great people who uh who who have potential to become entrepreneurs and start good businesses but they just don’t have access to Capital okay right and I think the digital Banks um were
Brought in or or or allowed to to to get a license for this reason in particular at least they’re supposed to be yeah so uh there’s this there’s this company called uh e fishery in uh Indonesia that actually sets up or sells agricultural systems right so they allow you to set
Up a fish farm M and I believe it can be done in urban environment as well as rural environment and once you set up the fish farm they’ll train you they’ll sell you all the Bahan Bahan uh and and when you start to rear fish um once it’s
All mature they help you to sell it they help you to sell to Market or to sell directly to restaurant and all this uh and I think they’ve done 100 over thousand entrepreneurs for example right and if I’m not wrong they are extending financing as well uh that’s what we
Should be doing here that’s what legan or digital Banks uh should be igniting that kind of Entrepreneurship for the 100,000 or for the company itself that you thinking about uh no I’m I’m thinking about uh enabling entrepreneurs okay en in particular okay so so because
Uh a company such as that the one that you mentioned the access to financing should be rather easy if they they have a Tech record of 100 people subscribing to their products e fishery is a unicorn yeah there you go so so we’re talking about the smaller entrepreneurs but
What’s stopping the banks the normal Banks from serving them I mean um sure uh being a physical Bank means that they can’t really open in U they canot open in in the rural areas most of the services are already online for some of them you believe book bank account
Online can why they need for a push for a fully digital bank so uh I have a mentor and he is the CFO of one of the uh the leading uh banks in Malaysia MH and uh not not current in the bus and he told me something he said SII
Imagine you get married to someone and when you’re getting married you tell the person I’m only here for 5 years so after 5 years I’m going to split up I’m going to go somewhere else are you going to put 100% into that marriage no right
The answer is no right and he says that when banks have leadership right typically it’s because of a very long career Journey or path and now I’ve ended up at the top you’re just not going to rock the boat okay we are not going to try to break barriers we’re not
Going to try to say you know let’s disrupt everything and start from scratch you already at the top bro right so uh what happens is he says that when we have leadership that is trying to protect instead of take steps right that’s what happens and banks are you
Look at the pandemic all the banks came out more profitable that’s right yeah okay so why would they rock that Bo by taking risk because no matter what entrepreneurship is risky okay it is the it is a risky form of lending and that’s why they call it Venture right Venture
If you look at Venture Capital something like what 90% of startups fail uh and that’s why venture capital is is is necessary so that people can take these bets but venture capital is a whole another animal why because they’re looking for outside return okay they want to find the next unique con they
Want to find the billion dollar company um so they take a lot of bets they call it spray and prey right but the guy who wants to start a fish farm he’s not going to become a unicorn just one fish farm he’s going to create a few jobs
He’s going to you know uh take care of his family you know he’s going to buy some property for himself he’s going to have a nice life but it’s not going to be a unicorn venture capital is not interested in him that’s right right so the digital banks are supposed to bridge
This Gap right to to serve the unders serve it doesn’t look so good as is as as it is as it is I’m looking at it I’m looking at GX bank right uh there few others that are coming up um I think Aon is launching soon CF invest CF digital
Bank is also coming up correct so I’m I’m very interested to see what the offerings are and I understand bankar has put another sh over there is become sustainable all right it have to become a sustainable Bank in 5 years it means that they also have to manage
Their risk in such a way that uh they can deliver on that otherwise the license might get pulled back that’s right yeah so of course they’re not going to take out siiz risk but at least a portion of it has to be right don’t you
Think so if you are focusing 80% on say Urban smmes let’s say fine but I want to see that 20% right can you show me exactly how what kind of risk are you going to take on Fresh brand new entrepreneurs okay if we look at your
Tik Tok account I mean let’s let’s let the out of the back uh you did talk about GS Bank a bit and then you criticize the same thing that you just did just now uh similar similarly uh but may I pay a divers advocate in saying that maybe they’re trying to consolidate
Funds through the uan areas dulu before they have enough to extend this money to those unders serve I mean they have to do one over the other I mean uh grab being grab they are rather unprofitable uh so so for them to actually go into Venture like you said
Ma so now by having this digital Bank license linking it up with the gra they can have more funds people and then the drivers instead of depositing it inside normal Banks they just leave it there as a bank so now once the grab or GS bank
Has enough funds they can use that fund to to ask for more money and then just uh send it to those under surf is that is that a logical thing of it’s logical but I don’t agree with it for one reason grab has enough money they do okay you
See the capital requirement for the digital bank I can’t remember exactly what it was but it was something like 250 million okay ring okay right it’s what 50 million us something like that grab has the money they don’t need to take the money from the urban customers
All right that’s a yeah but it’s nice to have correct but this is other thing grab already serves or works with underserved individuals in their ecosystem and these are Riders okay I wouldn’t say grab drivers because grab drivers if you own your own car and everything I would say social
Economically perhaps you are a bit more stable but riders in particular who are doing delivery right these guys are struggling it’s a very difficult job I wish that grab launched in a way that was focused on them first how do we get Riders to stop being Riders M all right
And graduate them into becoming FNB owner so that they can be selling the food that they deliver so right but s sorry I have to interrupt you that maybe G’s intention is never about okay now now you got me maybe their intention is never to graduate this Riders to
Becoming an FMB because someone has to deliver the food so they might want to keep those people where they are is that is that the is that possible it is 100% possible because uh why would you want to cannibalize your own your own Supply that’s right yeah of work force yeah but
That brings us back to our earlier topic on social economic sorry on social Enterprise mhm is that the right thing to do but put it this way as long as these Riders they have enough okay put put this I I came from the banking background uh most Riders and drivers as
Well Lulu they have issues about applying for our financing uh their payment stops are not accepted by most banks because you know Banks can a bit as you said a bit dinosaur so gra income stable you know and then so now gra being a bank they’re able to
Help in their own ways as you mentioned the Riders to apply for a financing now GX being a bank they extend can a bigger financing for them to buy maybe a CaRu to graduate themselves from being a from Rider to driver and then from a driver to a homeowner it’s possible so
Maybe grab itself is or GS bank is creating that system they’re not addressing the ulu part but they’re still addressing the b40 part if you get my drift I do I uh so let’s let’s talk about what I wish GX bank would do okay and um ideas are free right I hope if
They watch the video they will use it all right think of the Riders let’s not make people deliver food for M40 at20 forever okay okay you can do it uh as a stop Gap measure in between jobs but let’s keep it to two years maximum right after that they need opportunities okay
And the best opportunity in this ecosystem which is also beneficial to grab is for each of these guys to actually start a small business all right and a small business that also depends on the grab Network you’re talking about food uh you know uh maybe services that are incidental to grab
Like maybe workshops or insurance companies whatever right uh Brokers and all that how can we get identify the the best grab Riders and give them incentives and give them Target and Milestone right you Chap and this is what you actually achieve we will unlock for you the opportunity to stop being a
Rider and we will back you because we have seen your energy and your uh commitment that’s what I want to see grab do I don’t want to see grab help Rider to buum right you know you had a video recently about whether you should really buy a house right I don’t want to
Encourage people to do it for no reason right I think uh if you were to take on on financing or debt or whatever one of the things people need to learn is business right if you can be extended even 30 grand 50 Grand to start a small
Business why not the other thing that grab has is that they have proprietary information around demand mhm so think about this in a certain area uh they would know what the demand is for saing mhm or right and they would know that uh uh come pick our this particular n aam seller cannot
Supply the demand or can’t meet the demand so I think there’s room for another two Nasi aam shops right grab has the information they should be sharing that information with riders that are capable and saying I’ll find you to book out this place and I’ll I’ll
Teach you how to actually get it done I think if grab did that that would be awesome then I think I’ll give them a big tick and say that you have done well okay how about this uh Advocate again maybe grab doesn’t want your tick they
Want the money put it this way let’s say uh you know about dillbert right so Dilbert this one principle you you reward your best salesman to become a manager but this salesman is a very good salesman but horrible manager so now you lose a good salesman and you gain a bad
Manager so so maybe maybe from gp’s point of view is uh if they graduate can this good Rider to become or promote to become a business owner they might end up not become a business owner I mean to run a business takes more than just uh
GD you know GD and hard work it takes more than that maybe even luck uh so instead of rocking the boat for grab’s current profitable business in terms of uh food delivery uh then in terms of demand and Supply they will let uh the businesses themselves to figure it out
Okay for example if there’s really two um uh two demand for two nasil stores in a particular area automatically any entrepreneurs will provide that as not as grab and his network is able to serve both nasil I mean that’s how I would see it from the grab’s point of view they as you
Said I mean it’s another big Venture unless unless they have so much money that they can actually charge uh profit or interest to these borrowers and another business Venture that’s just my point of view we we probably can agree to disagree there so I would accept that 100% lock and if we talking about CB CB okay okay if you said that CMB stands Okay I accept but uh these guys are supposed to be the disruptors and
They have been given a mandate to serve the unders serve and for me okay we’re talking about the new economy we’re talking about uh pressures from AI okay um I believe that entrepreneurship is not going to be nice to have anymore each one of us including you you’re an
Entrepreneur right each of us need to actually eventually be able to start a business of our own mhm uh attract Capital hire people manage people uh serve customers well and gain some value pay taxes right that’s what each of us need to be able to do back then early
Back then about more than 10 years ago when Uber first started in Malaysia Uber started first as a right sharing at that time grab was my taxi and they were just doing the red caps or blue caps and I wanted to figure out exactly how how much an Uber driver could actually earn
So of course you get Uber drivers they will give you all kinds of alasa like boss we only can drive eight hours a day Jam this is the earnings you know nothing more than that so I said I’m going to try for one month I’m going to
Try and drive and see uh how many hours I can actually do right and uh I just tested right it’s a very difficult job okay it don’t underestimate how difficult it is to sit in a car for 8 to 10 hours not knowing who is going to be
In your back seat how they treat you how they smell how they uh make you wait in places where you cannot wait and then police come your stressed and all that it’s crazy right and it takes a lot of tool on your health bike is even worse you know and
I’ve seen you know I stay in a condo you know sorry to my neighbors p uh order Starbucks all right and this guy is working at 7:30 in the morning or 8:00 in the morning coming on a bike delivering two coffees at 20 bucks and his cut is something what three bucks M
Two ring or three ring something like that how long can someone do that bro not that long not that long so I think uh I think the banks or the digital Banks uh need to create bankable individuals out of these people the b4s that are that they have built unicorns
Out upon the backs of okay grab will be nowhere if not for these guys right all right they need to help them to become bankable so that the big Banks CMB May Bank you know they can actually bring them on and later on those banks are the
Ones that can take them into the formal uh ecosystem um mortgages you know uh long-term deposits and all that Bo but what what the digital banks are supposed to do is give them the stepping stone mhm not just become able another another bank with a bit of digitalization that’s
Not enough because that can be done by the the normal Banks just another bank with with digitalization what you mentioned got me thinking but going back so so let’s say they groom this uh people from unbankable to become bankable with all the statements from GX Bank uh all the
Income from grab now now they able to graduate and apply for financing from I mean they become a customer from a different bank of which G X and grab would be no part of then in that sense would then GX have less interest less to grow them up to become
Bankable they want they might want to just keep it there at Point at least give them a way to retain this uh people as supposed to wouldn’t that be a dilemma for GS bank right now so uh this is the thing I think uh management company to can
Like Direction M set the culture of the company set the set the the the objectives of actually what we’re trying to achieve the current grab management will be here for a few years after while they move on if they don’t actually set the boundaries of actually what they are
There to do MH that’s what’s going to happen they’re going to be protective around these customers and eventually they will start selling mortgages okay and then when they start selling mortgages it’s such a safe business they’re going to eventually become CNB right over the course of 10 years that’s
Not what they’re supposed to do they’re not supposed to do I mean that’s part of the agreement B uh with bagara it is about uh they they have a they have a capital limit right and for for the first few years after that it becomes unlimited I believe uh uh uh and they
Have to achieve profitability and all that and they have to serve the underserve but if they take all those boxers in 7 years who says that they can become the next CB with without branches that’s all the only sh is they operate Branch right but it can be all digital
Eventually they’ll follow the money like you’re saying right this is what shareholders want uh this is the most uh risk managed product that we can sell M uh we will create the customers we’ll push them to this product and that’s it right uh the organization will become
Lazy all organizations go up on this ESC I’m sure you’re familiar right once it reaches the mature stage it plateus that’s and then you either slip down or you just just you know go on and the play through for a bit longer or fail I think that if they don’t set a boundary
And say that you know these are the type of customers we hold we want them to graduate and once they graduate we want them to be able to be served by The Wider banking Community I think that’s a mature thing to do all right okay uh
Safi we move on to another topic saf Ai and AI might uh it is here it is here what do you think of uh Ai and I mean the biggest issue replacing their themselves and their jobs what do you think okay so I’m a big fan of AI same okay so I am
As you can tell I’m not a native speaker okay but I try my best I okay I try my best sometimes I get questions or uh documents that I need to read and some of the like a bit too complicated for me what I do is I use AI to translate it m
It’s fast and it not only can translate it can also give me an highlight the key points but but translation has always been here even before AI but okay this is the beauty of it uh I I in the past you could use Google Translate that’s right yeah Google translate was never
Super accurate but possible right I have set up my AI right to give me three versions of translation mhm the first version is right like kind of translation second is uh conversational Malay and the last one is Malay interpers English Okay so okay so I can then take that content
And I can understand it absorb it better and also share it with other people okay uh that’s how it assists me with my work mhm if I had a full-time translator Ma I’m a politician going to the UN okay I’m from Iran or something and you know there’s a full-time translator sitting
Next to you and Whispering the things in English maybe for someone like that their job eventually is going to be at risk if you’re looking at the aspect of translation only right because I think uh AI is going to do a very good job of that but I’ve been playing around with
Anything to do with creativity around Ai and it’s actually still very poor right and you know I think AI has been around now for for for ages but you know as in consumer facing cat gbt and all that it’s about two years right since early last year yeah since since December
2022 right creativity is still very poor so no matter how much I ping Deli mhm uh to give you some things that are very specific it still can’t do it without my artistic instruction right right so I believe that uh a lot of the opportunities that we are going to have
To retain is around creative works right entertainment uh uh uh trying to trying to trying to to uh connect with the emotions of other human beings right anything to do relationship and that’s why you ask me just now about a business business man start AI can do conch right
It doesn’t have the warmth it doesn’t make you look forward to meeting it right so far it doesn’t right so I believe that we need to start looking at this now if any job is minial enough okay Studio you have a beautiful studio right you have a great team you the team
Has uh set up this place right the lighting is perfect the mic is perfect the cameras and everything right it can’t be done by AI right so that’s of a lot of value and not only that they are working in in an industry which is growing which is content creation right
And digital media and so on those kind of jobs are not at risk when it comes to AI perhaps if you had someone who’s only doing script writing mhm then maybe yes that person might have a bit of an issue right now I think uh all of us need to
Learn how to use AI to our advantage like I mentioned with translation earlier all of us need to have a subscription if possible you know I would I would replace any Astro subscription or whatever with a cat GPD for uh subscription yeah we do have a
Cat GPT and Adobe ad has his own AI in and canva also has their own AI yes so obviously being a production company content production company we do have uh Subs to Ai and transcriptor I mean now you mention it I mean I can there so
Many of them and they can add up but if you add them up they don’t cost more than a single employee correct all right so what’s going to happen next what’s going to happen next uh and this is why I’m such a proponent of Entrepreneurship okay there’s not going to be enough jobs
For everyone population is growing right globally not just in Malaysia right we are having more mouths to feed and more jobs that we need to create uh what can be done right we need people to be able to start businesses right and businesses does not always have to be unicorn Tech
Business F Tech business can be simpler uh and I think if we were to you know I was having this conversation recently about uh education M and how important education is in the context of uh of this year uh or the future sorry and I watched one of your videos you had a
Guest recently I think it was I think Dr a is it Dr oh Dr yes s yes that’s right the economist The Economist uh and he said uh when an influencer says I will not send my you don’t need to actually go to university and he said that what
You should do is ask influencer to right he said that uh I’m telling you for me from my perspective I have already told my children um you don’t need to go to university mhm now I’ve told them now I’ve said that I want you to uh focus on
Creativity and morals and ethics I want you to be a good person and and I want you to have I want you to be someone who thinks out the box I don’t want I don’t want to introduce boundaries to you too early on M there’ll come a point where
You are a young adult I want you to go out there and explore what resonates with you okay I want you to go into the market try being a banker for a while try being a consultant for a while try being a crab driver for a while doesn’t
Matter try a few different things okay keep your commitments super low so that you have the freedom to do so that’s right and maybe in 3 four 5 years you will then know I am super good at this particular thing at that point if formal education is going to help you have a
Leg up go and do it right I’m not saying don’t do it but I’m saying do it once you decide what you need to do right right um I I I had formal education but uh most of the time I spent uh not really learning but I spend time being a
Building a network right and essentially that Network could have been built anyway without that formal education would without paying a few hundred grand few hundred grand in pounds yeah of course you know back then right yeah actually I had a question to got I question people who actually I mean not
The people of the system who actually send people students to matricula diploma at the age of what 17 at 17 you really not know anything if you really want to become a dentist engineer that’s why so many people either dropped out after after they finish studying they
Never did what they learned they they studied for chemistry and never did chemistry after that and I know someone like that but you know uh don’t you think there such an inefficient allocation of resources it is it is but that’s that’s why in the states they have this thing called a General Degree
I mean I asked them degree in English they said they just learn a few bit here a few bit there but but they still paying tuition to the university I guess that’s the university is trying to cater to people who taught like that still want the students money so
They but after a while they have to choose degree forever wouldn’t be better for them to actually just leave stat they’re okay uh is the the stigma of not having F education you can still work anywhere and you can continue studying after a couple ofia since you mention it
Stigma is there why are you 28 and doing your first degree so stigma is important I like I like that you you’re speaking about stigma uh I had a employee recently um that I was having a conversation with and uh she has a degree and an MBA right and she’s in her early
30s and she’s okay you know I would say she’s uh struggling but definitely uh has a has a lot of potential and so I asked what are your goals you know um in your life what are you actually trying to achieve and all that and she says I
Want to do a PhD next and I was like okay uh how much do you need to do a PhD you know how long do you need to take away from work and so on and so forth and she was detailing it to me and I
Said do you actually need a PhD you know what is the economic value of doing so and she says it’s not about economic value I want to make my parents PR okay so you mentioned stigma stigma is not just in the workplace it’s not just in
The in the in the commercial sector it’s also when it comes to family and culture I think that’s very unhealthy right because someone who I I’m not saying don’t do your PhD we need that we need people who are academics who are doing you know in-depth research help us take things
Forward but don’t do it to make your parents proud right right right do it because it helps you with your career right that’s one second is for me when I employ people tell you a secret I don’t ever look at that CV firstly before AI people already fected mhm after AI even
Worse how many of us are actually to write our CV properly right and then you need to go and double check everything otherwise why even believe it the best way to ass certain someone’s capability is having a real human conversation um references are important
But I like to give people a trial run so what I used to do at PR and now with my new project is uh I throw you a project and I say okay this is a scenario uh this is what I need to achieve um I give
You seven days can you come back to me with a solution present it and all that right is this before after they employed before before before they emplo so they might still have a a normal a job that they’re doing correct that’s why I give them Seven Days Seven Days right so you
Know technically it can be done in one or two days but if you spete it over seven days you spend one two hours you can get it done right many people reject it many people say look if you’re going to ask me to do this right I don’t want
And I I give them a a commitment that I will not use their work right so it’s not like ask you before I pay you and then you give me or deck or whatever IA right no I don’t do that so u a lot of people reject and there are those that
Actually present and some of my best hires have given me some superb presentations right and all without looking ATV you know so um the degree part the the the the stigma around employment and all that I think it has to be led by business owners or or management we need to start creating
Opportunities for people that don’t fit the the mold to char in our business right and for me I’ve seen a lot of success doing that alhamdulillah uh to be frank just uh we have like 14 employees 13 or 14 I I lost because we’ve been on the hiring
Spree well done well done and uh that has there are a handful of SPM dels and a handful of diploma and a handful of degree so to be frank I it’s not that I don’t look at them at all at all I look at them to understand the profile of the
Uh uh applicant but the most important thing is the work done yes that’s that’s that’s for my company yep but uh there are some degrees that may be require especially professionally doctors Engineers that those are the jobs that require those degrees I’m saying this because there are accountant
Is one of them because I I know a few accountants who did accounting and then after The Graduate they hated accounting because it’s not for everyone point but when I asked them they say it’s because the parents so uh at 17 is easier for the parents to pressure their children
At the 28 your friend I I wonder if they already have a job and Masters and degree why thisse you want yeah if if your if your parents are sponsoring it and not just the degree but for some reason you are so privileged that they can sponsor your
Life as well and they say no matter what son you know please do this for me I’ll look after all your obligations your current commitments if you are in that kind of family and you really want to do it what but this was not the kind of
Person this person was struggling can we chalk this to a vity by the parents perhaps yes it is Vanity wow it is Vanity Vanity for for those who are uninitiated means f f ah yes flexing flexing Flex back then we call it vanity it’s just vanity for example uh buying
An expensive car by not being able to afford it just because of Any you vain yeah okay so business uh do you have any tips entrepreneurs they’re facing struggle if I am facing some struggle sometimes sometimes multifaceted uh what can we do how how
Do we get help uh to whom should we turn to so s I’m a I’m a believer that entrepreneurs are created because they are in contact with other entrepreneurs so if you are in an environment where you have not witnessed uh entrepreneurship in all its glory and
And and and bad times right uh it’s difficult for someone to jump into it right but now that more and more people need to jump into entrepreneurship the first thing you need to find is a network mhm okay can other support network it’s one of those things that
You can’t do alone uh if you are married it’s better if you have a spouse that’s very supportive um even better if you can go into business with your spouse which I have done and it has been a great experience have I alhamdulillah great so support network number
One uh the second thing is this the plan of the business is something which I see a lot of entrepreneurs miss out on business is not just about jumping into it gut feeli and then okay let’s see what happens right actually a lot of about it is about
Planning all right you need to be able to do your financials you need to be able to uh plan a strategy and Define a strategy and communicate a strategy for yourself first okay so there are a lot of support that you can get for doing things like this right why that’s
Important is because then you have a plan and you will know whether you’re on track or off track M right if you don’t have that and you just dive into things every day is going to start looking like a mess every day you don’t know you’re
Sinking or or or or or or flying or are you uh uh actually getting to your destination you don’t know right so the plan is very important and uh the last one which I I think a lot of Malaysian businesses in particular uh Miss is this thing called
Uh product Market fit mhm right so your product is actually in so much demand in the market uh that if you put it out there at the right price it just gets snapped up straight away okay product Market feed I don’t see that happening because um Malaysia is a competitive
Market and a lot of people are offering exactly the same thing the the USP uh whether it’s a very small thing like a better service right or a better brand or uh you know a digital communication strategy in terms of content creation or whatever um there are too many businesses that not differentiating
Themselves right so the product Market fit is something which I hope more entrepreneurs can actually Define and get better at because if you do so you’ll make your business a lot easier to operate because people are buying your product so um next question is your routine I mean being a businessman
Entrepreneur how do you keep yourself healthy point at least mentally healthy at least mentally I mean we we have to pick one one of them might be easier to do because yeah so sometimes it’s a difficult okay um I don’t I’m not I’m not a a fan of uh hustle
Culture I believe in uh I believe entrepreneurship gives you freedom to have a balanced life and all of us have priorities that are personal to us so what I do is firstly I’m a morning person so biologically I I’m someone who loves the morning MH I usually go to bed
At about 10:00 so if I start to receive messages from 9:50 9:30 usually right so I sleep at about 10: and I’m up uh 5 something 6:00 okay uh jump out of bed full of energy and what I like to do in the morning is of course
Uh solot and it’s very important because it focuses your mind on uh the challenges ahead and exactly uh your purpose in life your purpose in life is not to be an entrepreneur your purpose in life is not to whatever else is actually to figure out uh you know your
Place in the in the herea that’s what I believe right I he yeah so so that’s why I I I I think that’s very important then I like to spend time with my children so first thing in the morning before they go to school have a conversation uh you know prepare them
Mentally for their there there H um you know make them feel positive about it right uh and then once that is done then I have my personal time so you know from about 7 plus 7:15 7:30 onwards uh I do a lot of reading MH I uh I spend time with
My with my wife while reading um and I try not to talk to anybody else okay because I feel like uh the noise of the day once it start you cannot stop it right right right so so basically no social media in the in in mornings of
Course I use social media right I I I use social media all day long so it’s part of the reading that you mentioned yes why I need to look at videos like Financial F I need to look at other content creators I need to learn I need
To say that okay look at this video look at engagement uh this is how long it was this was a production style uh this was a script that was used this was the ratio of English versus BM and he did pretty well right so you know social media is not just about
Consuming you can also learn from it right you can actually read between the lines there’s so much work that goes behind each video right so I I like to keep my mornings quiet uh and then I I I get a workout in I’m actually trying to
Get fitter uh and then most of my meetings I keep to after lunch right because that’s when energy actually goes down right and when it goes down then when I talk to other people I can I can G energy from them right right because you reciprocates right when you’re
Having conversations and you know you’re thinking for an extrovert yes that’s why I read they they gain energy when they talk to people for an introvert they actually lose energy lose energy so I like that because we bounce right and then uh I rarely take dinner or night
Meetings because I like to spend time with my family mhm and uh nothing else matters to me and then I wind down what time is the end of working day for day um seven 7 and your dinner is at uh 7 7 okay okay so I’ll have a dinner at 7 and
Then we will have a nice conversation as a family and uh I try to put my uh daughter to bed um every other night so I I I I I swap with my wife and uh it’s a fulfilling day you know okay so so the way you described it and because influen
What do you think about the culture of kids about children goal is to become an influencer key opinion leader okay so uh my daughter she’s nine and she is I don’t allow her on social media you don’t okay she don’t okay uh so I don’t allow YouTube I don’t allow
Uh Tik Tok uh no Instagram no nothing uh and she’s okay right and when I consume this content I consume it with her so it’s like watching TV right so in the old days about Rangers our mom have to watch with us right so Tik Tok some with her I
Said you want to watch Tik Tok come let’s watch it together right these are the kind of videos that coming on my feet right but it’s your feet and your algorithm yes so exactly so mine is tuned a certain way right now uh I I have a lot of respect for influencers
And key opinion leaders I think uh it’s a great business to be in is not just for fun it’s a lot of work that goes into being one yes right and but what I want to highlight is that uh we are starting to wake up as an industry to
The fact that the content that we create has to actually have value and enough of the branks enough of the uh dancing and singing only you can do that for fun then I see some doctors that do it for example but then they interpers it with educational videos right and so what it
Means is that you have to first achieve something in your life okay you have to be an expert at something uh if you are a dancer be an expert at ballet dancing right or Street Dance all right talk about the business of running a dance school right okay and I know someone I
Just met recently that runs a dance school in ttdi and I was listening to her um it’s a family business so her mom started it and then now she’s taken over and it such an interesting business right so she is someone that perhaps if she went on Tik Tok and just became a
Dancer but at the same time shared education about uh the business of dancing would be so interesting right so I think young people need to understand that all of you are special in some way because of the experience that you have right for me for example I grew up in
Singapore uh and at that time I felt that I wasn’t special but now when I look back I was a minority within a minority because I am a of Pakistani DES in Singapore our community is super small okay uh and then I uh I had family
In Malaysia so every holiday I used to come to Malaysia so I started to fall in love with this country and uh and the the environment and the culture and everything and whenever I went back Singapore I’ll have my friends who are like he you goia didn’t you know that
Kind of thing I start to feel like you know this is not how I feel you know so I start to build affinity for Malaysia eventually I met my wife in Malaysia and the rest is history right so I have a special story there’s so many people
Like me how do you tell that how do you build upon the expertise and and and sell it as something which other people can benefit from right so for example if I wasn’t in business if I wasn’t an entrepreneur I wasn’t doing uh Investments for example I could even talk about the
Process of moving to Malaysia mhm okay um what are the different visas available MH what are the costs associated with moving to Malaysia um what was it like getting permission from Singapore to marry a Malaysian you have to get this letter you have to me that permission from the Singaporean
Government uh no actually sing Malaysia needs you to give them a confirmation that you have no other wife okay okay so that one is something which Singapore government has to issue a letter then you have to go and see k has to confirm me and all that okay that’s that’s
Interesting I just want to share a shout out to one of the YouTubers I follow they say very similar thing uh he is Ali abdal on YouTube you guys can Google him on on YouTube uh he says that we we talk about I mean to become a good YouTuber
You talk about the things that you know the things that you’re interested in the things that you’re expert in so that uh but but not everything that you talk about will will have people be interested in listening yes uh so that you have to char nich he started with
Playing some music he’s not a musician he’s just a a guy from uh I think it was Oxford good oh no sorry Cambridge he was a medical doctor from Cambridge so he tried to who cares yeah but at one point he found his Niche it was how to apply
To a medical school well he was a medical doctor medicine Student in Cambridge so of course like he has some in and then he ventured Into to be efficient with your time so that that I mean he doubled down on that and then now he’s like he got like about 4.5 million subscribers on YouTube very very successful young guy and he’s not even a doctor now he quit being a doctor
Because he makes more I guess he’s he feels more fulfilled that industry wonderful you know so I I think all of us have certain knowledge to share you know so you would have uh if if if this know I I I was doing the Uber driving in
2013 right um if Tik Tok was around that time uh I could have made so much content about it right and I see a lot of uber and grab drivers do it is this right right they give you they share they share a lot of them are just
Complaining about their customer yes uh or complaining about the grab system but there there are Hecks in order to earn more on these platforms okay uh what kind of car you drive how you drive it waiting areas uh pick hours what kind of hours to drive uh which condos to wait
At because certain condo in mon Kiara has more customers that go somewhere else because all the Japanese factories hire people and put them in this condom okay for example right so all these kind of hacks can be shared you know on video and it will actually become something of
Uh value to other people right I think uh I would I would love if my children became good good at becoming influencer I have to say that why because uh I want them to be entrepreneurs mhm um and I think it’s intertwin now in the future entrepreneurship and being able to uh
Share knowledge about your journey goes hand in hand I guess there a business opportunity I mean for a business to come in and explain to Founders or businessmen about how to expose themselves expose in a good way their businesses to the online I mean it’s
Free you have to do it in the right way otherwise that don’t view that’s bus idea um what are you doing right now what are you focusing on and what are the the upcoming project what is that so uh it’s still under reps and I’m going
To announce it uh very soon inshallah uh but I’ll give you a bit of hint so I uh I’ve decided to um use my resources Capital network uh people around me talent and so on um and I’m I’m planning to go into Investments okay and one of
The sectors that we’re focusing on as a start is healthare so yeah that’s all I will say for now great I mean I hope to see you again in the next season of financial fight podcast season three uh by that time maybe na in office good because uh
We we every time we have a new season we’ll change the setting a bit Wonder so it was back then outside and then uh hoping to see you again soon in for this opportunity F and uh I I really enjoy talking to you and you know
I would love to learn more about your business as well most definitely maybe maybe bul invest you maybe we we could use some capital I I I’m Keen to see that alhamdulillah can I just mention something I uh I was talking to a friend of mine uh he’s very famous this guy
Called Patrick Patrick Gro and and he set up catcher group catcher group is a lisco that essentially is just aggregating influencers okay so I went to their investor day right and uh they brought a few uh influencers in and some of these guys had about 80 to 100,000
Followers um you know Fitness lifestyle guys and all that and they were talking about how much revenue they actually generate for catcher group it’s so impressive you know so the thing is uh I think the media sector especially the alternative or digital media uh is still quite um um fragmented and there’s an
Opportunity to consolidate especially when it comes to uh BM and bura facing audiences that hasn’t been done yet you know so I’ve been looking at catcher and thinking you know maybe we should do a something something together perhaps our own version most definitely most definitely yeah uh maybe maybe we can
Even cut that off we do not want to let the cat out of the back ideas are free execution is key correct I just kind it up sorry Patrick thank you guys thank you guys Salam alikum waum Salam
[Season 2: Episode 12] Dalam episod kali ini, kita bersama Encik Saify Akhtar, CEO Pertama Digital untuk berkongsikan sedikit sebanyak tentang entrepreneurship dan pembangunan perniagaan di Malaysia. So apa lagi, Lets Jom!
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00:00 Intro
02:27 Pertama Digital?
06:07 Dimanakah sebelum Pertama Digital?
09:57 Jenis perniagaan yang sesuai dimulakan masa kini
14:36 Adakah Social Entrepreneurship boleh berkembang di Malaysia?
28:04 Bagaimana GX bank boleh bantu pemandu grab?
35:43 GX Bank tidak mahu membantu pekerja gig supaya mereka tidak pergi ke creditor lain
38:04 Adakah AI akan menggantikan pekerjaan manusia?
45:33 Kenapa graduan universiti tidak berada dalam bidang yang sama dalam pekerjaan?
51:48 Tips untuk usahawan-usahawan
54:53 Tips untuk kekal sihat secara mental
59:11 Orang muda sekarang lebih melihat “influencer” sebagai kerjaya
1:04:15 Ilmu pengetahuan mengikut minat orang yang sama
#financialfaiz #podcast #entrepreneurship
[S02:E12] Malaysia tak cukup leluang kerja? Entrepreneurs diperlukan!
MAG.MOE - The MAG, The MOE.