Endgame with Gita Wirjawan - Claudia Kolonas - Bom Waktu Generasi Muda: Gratifikasi Instan

Episode Date: October 26, 2023

Mulai perjalanan investasimu dengan Pluang dengan memasukkan kode promo ENDGAMEPLUANG pada saat registrasi untuk mendapatkan bonus Saham AS senilai Rp25.000, klik di sini untuk memulai: https://pluang.onelink.me/jTjO/e8hivunw (S&K berlaku, baca selengkapnya di sini: http://bit.ly/endgamepluang) Jika kamu pengguna setia Pluang, kamu juga bisa mendapatkan bonus aset Kripto berupa Bitcoin senilai Rp50.000. Masukkan kode promo PLUANG50RB pada halaman misi, klik di sini untuk memulai: https://pluang.onelink.me/jTjO/h1amcc0z (S&K berlaku, selengkapnya di sini: http://get.pluang.com/bonus-bitcoin-50ribu-tnc) Lihat bagaimana Pluang telah berkontribusi terhadap Indonesia dalam perjalanan 4 tahun ini, klik di sini untuk informasi lebih lanjut mengenai Laporan Dampak Pluang 2023: http://bit.ly/bpuiendgamepluang. ----------------------- Gita Wirjawan membahas lanskap investasi hari ini dan masa depan Indonesia bersama Founder & CEO Pluang, Claudia Kolonas — menitikberatkan pentingnya diversifikasi di tengah volatilitas pasar, serta peran peran sentral ‘finfluencer’ dalam meningkatkan literasi finansial di Indonesia. #Endgame #GitaWirjawan #ClaudiaKolonas ----------------------- Pahami Episode Ini Lebih Baik: https://sgpp.me/eps159notes ----------------------- Berminat menjadi pemimpin visioner berikutnya? Hubungi SGPP Indonesia di: [e-mail] https://admissions.sgpp.ac.id https://wa.me/628111522504 Playlist episode "Endgame" lainnya: Daring Entrepreneurs | Wandering Scientists | The Take Kunjungi dan subscribe: SGPP Indonesia | Visinema Pictures

People can't beauntas in the awaul. If you're just to learn in the awlux and then tussing uncton, and they're still to make sure malembowayaka, menhurt's the end game. Hello, teman, today we're getting Claudia Colonas. Belial is founder of Luang. Claudia, thank you very.

We can't hader in the place we're here. Thank you, Pat Gita. I'm very honored to be here. You're such as well as, what, what, yeah, mbina pluang, I'm going to hear story about about when you're and then

school, and nilay, nilay what's just that's done by two people, you know, so you can't be able,

a person Claudia Colonas. Thank you, sir. Yeah, so, so from the child, the two, I'm still, because of the other, so, yeah, so,

and this, maybe, my dad, handling the business, you know, yeah, many involved in business. Now,

so, the, life, so, so, so, so, the,

my, and I'ma, Ida-a-a-a-a-a-a-a-a-a-a-a-a-cac-a, we're really-be-a-cantor. So, less in-cantor, you know, and all, our life we're really-bentor. So, exposure from muda-at-as-unt of passion we to business, it, is developed at a very early stage, that, yeah.

Now, as a mother who working, I didn't see a lot of my parents, because, but, because in many times, because we're in many times, because we're being in many, we're going to be in front and we're at least seeing her being very busy and and line, there's a comfort that she's actually there, you know, so. So, so really, a lot of my early days was that, and that's the reason why, I was involved in the business quite early, this is the year?

to be able to the time. From the baby, so. So, it's even, it's really, it's really, maybe,

maybe, we're still, we can't be much, but, yeah, but, wow, there, at least we,

we're, we're, from, from, the, to be money to be business, it's,

that's the reality of business, running a business, many to be many times. School where, in Jakarta? I graduated from GIS. So, actually, a lot of my years is, it's growing up in GIST, Jakarta International School.

Then, when S-1, gamed what? Yeah, now, I'maurellular biology. So, um, so, um, uh, I was to schooler's scholarship program, so, so on a liberal arts school, it's making,

it's for vaccine. So, so I'm actually, vaccine, it's, for vaccine kuda. So, I, it's, growing up,

very passionate, I'm going to, nai kuda, so, yeah, so this was my hobby when I was very young. So, I wanted to, I thought, I thought, you know, you know, equine health, that's, but, but it's not, um, there's a lot of, and also, after I graduated, too, during undergrad,

turned out, uh, uh, uh, uh, uh, uh, uh, my heart, from, from the world, um, to go, unless, um, to do not sure, Indonesia, so that's how I started my business career. No, no, no, there's no longer than you're doing. When you're going to be molecular biology, it's maybe not inambung or what, with what they want to want you to do? Yeah, now, for from the people of my parents'ing is,

yeah, so, so, the, the, deal-in-past, you? Uh-uh, very, very, like, so. And now, because they're like, because they're because of the work, many people, so, so, really, really, intinging isterserah, so, so, want to learn whatever, too, and line, like. Which I thought was very good, yeah. So, for me, uh, I was, very good, yeah, so I'm not

important to move to liberal arts, because it's to look to be able to look at a topic, not only only molecular biology that's just, it's also. Okay, then back. So, back, work before I'm able to S2. Yes.

So, when I was, I was back to Indonesia and, um, and, um, to come back to business

that was the time. So, the focus-in-in-a-lap-al-capital. That's a business that's beenbang-on- by mya and focus is it's the focus to make up against business

non-bank. So, right, I'm going to belajured in the bidangue finance, mawapot management, and also assurances. So, because,

the focus, and many, make make make sure and a joint venture, yeah. So, projects like, you'll be asset management,

and, and, like, that, some of, some, some, some, some,

some, Then, then, what's 2, what's what's about? What's the way? So, so, when I was going to

S2, I met one professor, named Michael Chu, yeah. He, is, the grandfather of microfinance, so.

So, he, he was, business microfinance, at allan at time, and he, how much, is important,

for the world, for example, so, because I'm going to be able to beaughan from a lot, I'm going to look at some of the same thing model, ternata, one of the one I look at least in Indonesia is, the world capital market, or inclusion of money, from the money,

or investation. So, it's, really, the idea in a while, like, that's the other. Now, sootula, so far as someone, you know, that's now, right? That's now. This is, too, man, right? So, because two birds with one stone. Exactly, yeah?

So, barren, barren, he, because, you know, because, you also, used to Google, in Mountain View. So, he had there's been a lot of life, and other than, line, And then, the end up. Now, the way, I mean, I'm also,

I'm also also, I'm very doing, thank you, too, with the team Gojak, who also

helped us, make them back, business, development team and, and, like, and, actually,

I can't have been other in the thing, that's about. Okay. And,

then, then, how long, the time, that's, did, did, So, so much than 5 years later.

Okay. Tell it. Missi, vizy, the plan, to how much? So, actually, at the first I'm back

from America, I was going to, I'm going to why, why, why, why, there's like some-com-robin-hood in Indonesia

at that time so, yeah, so, So, product, product, it's also, really limited for the company, like offline, like, so, there's not,

still, like, if now, now, it's really, so, so, I'm thinking,

a concept, that's, making super app. So, people, to be able to access some,

Mawpah, we also, we also, we're also, now from asset crypto, rexadana, saham AS, yeah, and in short while, we're also going to be lungoicing product Indonesian, stocks, and line, like.

So, we think really, to make people access to be diversification the danana in one application, because if in U.S. is, it's a whole

thing that, but, how, we can look, we've seenaugh, There's really, really, really, really, really, that's the principle of it. And, um, the, the, wellot, it's just a lot of course is the next use use case, yeah, which is really, really important for nasabah, nasabah, there'sbubut. What kindalana, slum in? Yeah, kendala, actually is trust, yeah.

Okay. So, yeah, we're just, we've been talking, yeah, pa, man on the rule of law, this. in Indonesia, we're in the United, we're not, we're not clear. Now, but we're looking, even, we're making, there's been, there's been a lot of law, under the U.S.K. and, like, and, like, which, really, the prunuched to make making trust level from the industry of the economy in Indonesia. But, past we're all, it's hard, it's hard, it's hard because

because of that'sab, wow, wow, this is there's a lot of so how much to start-up, it, can convince that we're actually legitimate business

with aeemann which actually should be acu by the government and the money their is man. So, so,

mental barrier, that we're the the thing we're the last the last, the most of, but the adoption yeah.

this. Right. Yeah. Right. Yeah. Yeah. Yeah. Yeah.

Now, Sejac COVID it, there's a lot of people who must have been investas. Because, maybe, before COVID,

the, people, people, kind of, so, the market that's, there's,

more to people who, maybe to be atas 40 to 50- to 20- time.

So, So, um, um, um, um, um, market with the market to look at least, yeah, can? Namun, sejave, it's, it's, it's not, um, they're gonna'was, and line, like, they, uh, they're, uh, they're just, muley, um, um, um, me'm gonna, um, So, it's, right, right?

So, right, so now, now, 18 million people are people. Yeah, yeah. Yeah, right. So, it's the product that's really the most part of the most then they're just before they're going to diversedkasi

to the other. But even, even though, my principle is simple, yeah, so the, the thing, the most important, then, now, back again,

after the other than that's the other it's the fact. It's the reality. It's been, really, because, so,

the al-em-n-ne than 90% crypto. Now, crypto is, is, it's, from 10%

from our from our- that. That's not because corrects in- -l- but more because

the them-em-em- -em-em-er- to be- diversification. So, so, so, if we're notherit, we're still

up, but diversification — Oh, yeah, sorry, asset under-management our, we're still, so, so if we're

not dampak from only because people, still just buy crypto, even if they're too damper from

the endel yeah, but, but impact diversification that'sat in two two years to back in the so we're looking people who

even when they're they're going to they're going to invests at work in taxa, and like, and people people who

people are people imagine, we're if we're if we think that when we're people,

not know what about money, investations, So they're like the, yeah, the regional gateway drug, but, but the , um, the end-to-wing-outhing-of-segenerg, if, don't, dampakia, not positive for financial education, too. This, this, if we're looking at asset classes in the world, the most part, can, real estate, yeah, that's at least $300 trillion.

Number two, fixed income, bonds, and, line, line, $140 trillion. Number three, equity, the same. 120 trillion. Three, after that's all right. It's emas.

Maybe 100s and trillion. If we're looking, Bitcoin, in the world crypto, yeah, Bitcoin just, it's the, at least, probably,

to, one, some, several trillion, is, still single-digit. Now, you know,

the, 10, 20, 20, the time to the other than the other than the other than the second year. Yes. Now, so I always say, so we always say, so we can't, we can't see, we can't be able to look at crypto it's only from the matter, miscells, coin, and asset, asset, which is yet, in front of us.

So, and a lot of people also say that blockchain is really revolutionary technology, and it's really, really, bener. But, but I think I'm more than I'm not even though, blockchain is a regulatory arbitrage, actually. Maksuture what? Um, why,

many regulators that, I'm definitely worried, but they're also excited about on blockchain. Because it's more difficult to make, um, the law and under undergaping, It's a new So, right,

So, so we can't, if we see, we'll try, we look at example Indonesia as far, we look, RU.P.2.S.K.,

yeah, can, undangue that's new out of current, and crypto, that's that's recognized

as a set money just, is, that's, and, and, so, people,

people, people, and, whether, this, Indonesia, is, this,

is, supportive, , I think I'm not. But I think we're not if we're really, regulator is to make-unaga can't get a newvassi

from the regulation that can leapfroch financial inclusion. That is not possible, if we're trying to make up the law and the pratturaan that and it's maybe

10 years to make change the law under or, for example, the right now, but if blockchain like canvas that, yeah, pa, yeah. So, so. Regulator, it's just

from no, sir. So, this, how this is can't be able to with peningatant inclusion to the government.

Yes. With, what you're said regulatory arbitrage with perundang undangue and new, or cranker regulation

that new. So, so, for the new, also, maybe, there's also, there's also, we're not there.

We've got, it's a lot of using the technology to melanchureka product. The example, that's called as far enough

that, like, like, and, you know, and CDBC is a certain thing, that's a lot

that's at not, by Bank Indonesia, yeah. So, the, that's that's that's that's so, like that's

for the people, like they're thinking to make sure that is within their control and there transparency that can make make sure more than investation or even money. And,

actually, people ask to me, why, why is people, people, don't even being crypto, that's simple, sir. If, if,

if, amit, there's something, I can't make sure can't, like the same like that's like that's, so, we're not even if we're not, people, too, can't be able to take and they can have control over their assets. It's very important for the world

be coming, where, rules of law, our law, we're still in development stage. So, blockchain is the only scalable way for we, for we can't make sure, So that's what I'm going to regulatory arbitrage. How much we can give solutions solosy that can solve problems like consumer, trust, and line,

like, example, if you know, if we're just if we're just making, we'll just-of-cadowing-sadil, proof of custody, it's already cleatant 100%. Sometimes, at bank, we don't know, the money we're, apac, do it's about to people, A, or to people, B, and line,

And like, now, the people more than people, that's about that's about being used

by blockchain. Yeah. So, that's the end up all that am end upbored blockchain.

Yeah, right. So it's it can make sure transparansi, can make make sure

accountability and also can do you can things that that's a lot of

by the instrument conventional before you know not, right, right, not be banked but, the same, we can't access

in a access in a lot of right, right, right, yes, we can't get access to the crypto,

angupellah Bitcoin, that we can be can't look to look at exactly. And, you can,

be able to if, if, if, So if there's... Right. Right. If people think, oh, if there's

until there's there, I can take, I'm going to, you know, I'm going to mindsetting is like that. Tell you, day. Panangana you

about the particular in category crypto, yeah, between Bitcoin and the other. That can be giving an education,

like, the community. Yeah, actually, if I'm not if I, Bitcoin is is,

Because he's actually, original crypto that's been, even more than just more than, and the most important. And what's the most important, there's a lot of control token token there's bit. Yeah. If we're looking from token, token, the other than there,

that's really not, right? There's a person there, there, or there's the other than the or institution, has the CEO's right, that's right? Right, right. Now, we've got to look at least, if I see, like,

from, like, the people, they're more skeptical, with what, the, of, information that's, information that's really,

the, by, you know, because, because, because, yeah, uh, casus,

infestation, Bodong and So, So, Bitcoin, because it's it's naturally naturally,

for the other people, more than the different and transparency that supply that's

that's one of one key point, yeah. So, where people know,

where, this product that's transparent, not the control by a institution and other,

so, if, I'm aligned with you, I think Bitcoin is the future. Yeah, yeah, and I'm not too, I'm too, not too, I'm stilleroying Bitcoin.

Yeah, I've ever said, like, if Bitcoin, too, supplying finite. The same line, the supplying not finite. Right. Yeah, and then, and then, technology's, like, the more superior thaning the other than the other than the other than

that's the data Bitcoin to not a coder yeah bethoughts. Jalan'n't yeah, yeah, there's alias the same thing, Satoshi Nakamoto, to be it not never get-towan, batang-idonging and and not ever had CEO's. And, and, in technology,

also, blockchain, too, It's more transparent, and more than bachuntabilitas. That's what I'm saying this. But, not know how people, people, but I'm still just like, I'm also still buy crypto

non-bitcoin that's like because of FOMO, hype or what how, how much, buying behavior or investing behavior

in Indonesia, I want to find out how we can't make sure we can't make a place for

Indonesia, and also how we can make money investasasas to make people, people,

people, people of people of people of the all. Check description video in the Bucca Plouang for supporting this episode.

Now, phenomena that's very much, so, we're also in Indonesia, especially, it's influencer. Yeah. That we, which we,

namaken Fin influencer, yeah, in group we, so. So, so, so, yeah,

if in Indonesia, because we, we're even from the average hours, quite big, from the average person on social media's, pa, yeah, so, yeah. So, yeah. So, yeah,

crypto-crypto that many buy mim, that we call it, meme token, and, and, line, line, it's, the end-ugum-un-in-of-jun-nia from a-o-o-o-influencer

that's from social media so much that we're still like you know so that's even though, so you know, kind of hype some of the token and other

other. So there's some in Indonesia too, you know, pa, yeah, influencer local who... There,

Vinfluencer. Yeah, that's, um, that's, which, which, which,

which, which, the end-uguguing, you, so, and, So many people must first they're back first.

But what they've got, after they've been able to be able to yeah, yeah, right, I'm quite too, wow, well, that's too much more than they're able to learn. So, so, they're not, but they're still muddha, yeah, Pa. So, the income is, man, man, man, maybe,

the next time, they're, maybe, like the next time, they're the next time, they're going to investasies more to beitkoin, or even they can move investas in rexasada or in the same AS.

Now, jatoo-banguny that, which, I think, it's important, to be a part important for inclusion of

money, for young. I'm going back to asset classes that I'm saying. Now, real estate,

$300 trillion, bond, $140 trillion, equity, $120, gold, crypto and other than 10 trillion, will be able to be a

change, I'm going to get the point of being that is equity. Apalagy, and with other than

power of artificial intelligence apapun that can make up-pictivitans. If you can if productivity equity story is more than that's and to the way of the same thing like

succo-bunga it's semestinely going to be sure, right? Mustinia bond, it will be regasser to bellowed. Real estate, I think, it's overvalued in at least 300 trillion. This, globally speaking, yeah.

But, this, this, this, like, is a lot of mine, can't because yeah, I'm in the I'm like it like it's like you

can't be partanguealked with the realtoran that's money already too much. Right. Yeah, right.

And it has inflated value irresponsibly in many places around the world. Beto. Not to know.

I'm going to I'm going to be it's equity, and Bitcoin. I'm going to look at bond or fixed income to semestine, down in batas low hika, yeah,

turn. Real estate, semestine will be stable. Mast, maybe, is stable. That's just

a bit of supply, so much 1.4% per year. Yeah, musty-s, that's,

that's just to be into, little, like, from $100 trillion dollar. What do you think? Yeah, That's, right, because, because,

so, because if we see, bond popularity, it's ber-based, cuckedbunah, because, can, because, you know, one's, you know, more risk-free when, you know, a lot of vitality, basically, for the connection and, and, and,

and, like, line. If, if we're from the real estate, we look from data simple, Yeah, home ownership for affordability of home like that's like that, like, because because it's not, because it's not, because it's more than being more thaningingham from people, like, in a world.

So, so, really, we're going to look, it's shifting. And, again, there's a lot of times, that we're talking, shared ownership with home and and that, which is that's also can't technology like blockchain really, yeah,

pa. yeah. Now, come back again with printing data, I think, if I'm

think, if I think, if I'm, I think, we're, we're, we know, if we,

you know, there, you know, can make implementation of the same, yeah, he can't

control supply M2 that, with one click of a button, that, one click

they can't they can't they can't and they're also and they're also can't see how much because of

transparency, and like in the book, the data is the use for what a lot of

yeah but, but for so if we're, so if we're so, if we're looking definisiness what

if you, blockchain and line, I'm, I'm, I'm, I'm, I'm,

I, I, very because of the case for the traditional but the traditional but also pushbacking is

because CDBC that's also will make things like corruption that will be more than

transparency of the data, you know that we see in India they're making demonitastasi and line,

yeah, yeah, pasty also to-tok-tok- or people who's the more than more than like that's not,

it's like, yeah, you know, possibly they're not going to happen to that's about that's about.

So, it's really a problem for all of different. But there also cub in

India that, be a fact that demonetisation is success. Beto. Right.

Yeah, very success. True, serum. In context that's, that's It's in the time in the time,

and in context, that's quite notopsy, in the clangonsor, the resistance, there, right? That's, yeah, can, that's, that's a biter. But,

if I'm going to be a couple of people, and the mangook, the people, they're looking, this as a successan that's awesome, that, that's, and, and I,

I want to try It's not this isbonged this ispinkered from the people people people who creation habits

if we're back to time I'm going to three examples barqueer buy one

bottle water puttie and buy showmai time 70 on the year $1mash

$25 perak Brit Jigo Parkier yeah shawmai, got 5 digit

Kohl, like pari, tau, kentang, and shomay or the telor, that's 25 peri. Bottle layer, 25 peri. Fast forward, to the day,

10,000 perop, for each, per cent. Knaikin'argnaissance times lipat. GDP our, town 70-an, it's probably 50-Miliar-Dolars.

Now, 1.3. Economy we've got to only 940-40-cally-lipat. But, the price of barang and jasa that's very by the people that's up to be

up 400-laped. Not nimbun, mustin' economy's up 400-cali-lipat if the cost of cost-lap. This oversimplification, maybe.

But I'm going to carry it. a point across, inarty a part, yeah, this is there instrumentation uh,

or investation that's a kind of, yeah, why, why, why you're not nambu,

if you're, it's not 90, 40, 40, and it's money, must be two-due

two-nays, the same, don't, multipless' four-tratus- people-lipat even, economy-in-

because, Because we have, yeah, we have to investigate this. Why? Two things are not nimbun, kenaing the cost of money, and kinaikin. Is it? Is it?

Is it? Is it? And, you know, past, this. I'm going to be minging with utang. Yeah, Yeah, yeah.

Yeah. ...that's not... Yeah. Yeah. ...that... ...and, maybe, too, make buwagon

inflation of the other, like, in front of you. Yeah, I'd say, so, yeah, yeah,

for the countries, like America Sericat, and, and, like, they're,

they're, they're, maybe, bring- d'uette, because, can, they're actually,

because, right now, because of the because, right, right? So, for them to close the gap also, they can, investas,

in business, which can can make GDP with more quick, productivity per-o-o-o-o-o-o-o-o-o- productivity per-o-o-o-o-cuh-a-cuit. Now, I think,

come-ally-l, I think, again, I think, Asia, yeah, from the same thing, from the same thing, and other than the other than, like, line. So, so, we're looking per capita foreign direct investment, too, is still pergolong reddish, yeah, dibunding the country that, that's one factor, yeah.

Because, uh, the end-uging-un-uhn't-ycuitary, and, line, And, it's basically, basically, really on productivity. And productivity, that's, yeah, what's GDP per capita, yeah? How much GDP can one person produce, that's, in one person, so, so that's a lot. So, so people can't produce in one country, it's been a part part of thing,

to, actually, keep up for, from, from, because inflation, can, is very big, yeah, yeah? Inflation, is, very, very, big, in the universe. business to control the for the world of the this is the end of the unings of the

end uprolese with how much data in system economy we're right? Right. Now, this I always merugue to

money bredar. Right. The basis economy M2, if I think, ratio of the GDP our GDP our to be able to

be able to So you know, you know, you know, like, like, just about that just about that's just about but you know, but if you're in money under

per cent minimum 150% so. So, the people to do doggir back like how

it, because the money more than money, it's, you know, about the

if you're going to if you're being, with three one, down in the world, two, mutang from the world.

That's three, netak in the country. Yeah, can? Yeah, saba'al just, FDI's, there's a biterbatasan, mutang not

can't be too many, and then, the critiqued, netak too, I think, there,

there, there's there's thinking maybe we've got to make we're

to make things, to make howluck, How much, how much, to be able to robust business management-investation? So, really, development for capital market is very important, yeah? Yeah.

So, to comealy again again, if... To end up to end upan data from out. Right, right. Right. Right. To puttucked data from out, that's right, that's. Orpun, even in a sustainable way. That, right.

So, so, and if we've got, again, again, we've got, that's about, that's really, it's really, really, is, important. And we look, we're even, we're also very appreciation, many so much workergan from the government,

to make make make sure sure sure that's about, yeah, in RP2SK, it's really, the only one, is to make-waping tulang-pung, that, from our country, y'it, the, a kuhangana,

our with the turnan of the Uy-i-Ska actually, we're very positive, when it's really that can be a dampak that, which, that, will be a loterbiasa, for sector, uh, in Indonesia.

Bukh, not only from the sector wealth, yeah, but also from sector other than it, because it's the time, yeah, so, there can have a caperciation in the about, about about, about the way of the way.

So, that's what we have happened, yeah. And if we can see, the government it's, we're making,

yeah, so we get, so we're doing, to look on on the system, system, like,

that can't support, product, product, that we look traditional, like we're like that's like, if we can't bring up the access and people from the world

can't buy, you know, bond Indonesia, you know, through, miscelluble, blockchain and line, with fractionalization

without having to make make money, from, from bank and and like, and, like,

how much more open, and, and M2 we can be more quick, more so much more so much more so much more than I'm being able to be able to bempic-upon-you-law. I'm going to be able to be able to be able to get-one ratio M2

our data to PDAB. This is more than 100% because we're going to gobryl like anything about but still still still there's got to capital. Right on. Yeah, right? Yeah.

We have access to 100 perak that's defined financially included. But ideal is the idealy if we have access to 1 trillion, not 100 perak. It's existential. It's better than access to 100 is based on $1 trillion, right?

And I always always always gawing that Indonesia is not a kirkuranga but kirkuguanian and I'm and I'm kind of if I'm kind of

if we're if we have access to model that's we've said we've been able to financially included but we can't be able to

with people we're in the other than other than another country and which, yeah,

which one, one, one, one, one, one, included, two, access to modality,

massive's quite. So, the idea of their is more than more than more than greater, so that's more than entrepreneurship. Better.

More than, and this is that, I mean, I'mbathing bathe us, systemic to the front. And, yeah, anyway,

it's just... That's just... That's right. Yeah, right. Yeah, right. Now, I'm like, I'm going to fan by Ray Dalio. Yes.

You're always going to Rade Alio. I'm just, I'm going to fan with himadia. He, too, may be sure that's one of the ones that how, the people are, not,

can't be gratification instant. Right. Yeah, can? Gratification that's deferred, or be undue, or did tanguhug can to the past.

How's how? How about, tell you? Yeah, so, yeah, so we're up in the world sub-in-stand. Yeah, right? We're not,

we're seeing, we're, because why they're also, they're all-al-al-turted with crypto and and, like, because they're

when, I, if, I'm going to investation, I'm a result-n- in-tall-to-its- in-to-you-gut, and, And so, right-hmm-hmm-hmm.

So, right-hmm, so much of the investment, evener, because they're with the promise of instant gratification at that. So, industry we're, still in this, it's not very put-puck-up, because when, when, when, when, when, when, past the price-mulled-turon,

people, maybe, even, not get-gratification instant that, which, maybe more than, in 2020-20-21-1, right? Now, back back, it's the same point as Redalio, yeah. So I think

for we're going to, if we're there's in a phase that we've been delegaging or dead cycle, and mulay resuscy, I think people are young people need to learn that, that duet is not gampang and we have more

because we're because we're just out of the longest in history, so, really. So, people who are still still muda

right now, they're, they're only, so, so. So, mayan just, yeah, in plowang,

we're, we're not, people, like, I'm, like, I'm, like,

this, maybe, yeah, since, down from, 2009, nine, nine,

In the career I'm first time, but but it's important, to be a lot of learning, so many people know, even if you're even,

even, how, how, how, how, how much, nasabana, and sabba,

which, the portfolio minus. If, if, it's, that's all that has been

going to do you think, not can't beauntas if you're not if you're just because of the awes and on the same, even when they're still, eveningircould, it's justru malembowhacken, menhurt's. And it's systemic risk and risk management

that we're not, not clear at that. But it's can be, it's been, bubbleing, it's more more, more para again, that. So, so, this, this setback that's very important, from, yeah, yeah, yeah, yeah, every year's up for every child muda. And hopefully, they're also be able to learn about, wow, investation,

to turnita, it's not gonna be able, yeah? Ternata, has been sabre, yeah, like that, like, my, friends, temen of my sonnacan-upan-a-can-shaia, narrations already berubh. Yeah, they're many who buy, crypto, or Bitcoin, or, I'm going to look-term, bro.

Nogamonging about that's a bit more than two years or not. Yeah, right. Yeah, yeah, it's like, and that's probably process of learning their. That's one. The second, how to we can't encourage and people

in Indonesia it's more more than the time or preference the low time. Dicotomy between high time preference and low time preference

that's manifestation in the low time it's more more prioritization in the next day and not evening.

But if you're high time preference, that's a keenan. This is consumptive so. Yeah, right. Now,

we've got about maybe the way of money, and it's got grus. So, the money

per grus, savings also, the same the grus, and the savings, the grus,

the more we're getting with the kikinian than non-kini. how much, to do you know-a-aducasiccoulda?

For them more than to think, let's investasies for the next-dust-dust. Yeah, so, the principle yeah, Pa, M. Yeah. If we're looking,

it's really, the most there's justo-cant-a-cant-a-cant-a-cant-a-old. Yeah, conto-conto-baw-a-old that people can be like with investasi-sha-ed- with-saham.

Yeah. So if we look, the young, it's really that's really figure, yeah. Yeah. Yeah.

Yeah. Because, with social media, we can use using using as far positive too, can't be

there's been negative, yeah, but it's also it's been using to be like, the lot of kenghong, that,

that, that, that's, that's really people, really, so, if there's like, wow, wow,

it's like, like, like, if it's $10,000 and he can't be able to be trillionan and, line, line, that's, the story of the sameerner, that for the young people can't be able to, wow, if I'm sadder,

in the 10-year-old-20-tallon to-de-dapant, that I can't, retirement-enang, you know? So, really, if we're looking in the world capital market in Indonesia, it's still is quite the people of people that can't inspirations

people, man if you're in America, if we're, if we're when we're seeing, Rida Lio, Warren Buffett, yeah, can, people, people, Cathy Wood, and line,

and other, that we're looking this, wow, this is people who's through, that's a lot, that's one thing I'm, how much about,

that's about how much about how much more than we're in Indonesia for them to be able to learn how investation that's the best. So, so, the country, we can be able to make role model,

role model, that, which, will give them inspiration to be investasies, like that, because role model

is still in Indonesia. How? to make uprohsos like this. Can, there's a social in the world private equity, but there's

there that's the world that long funds in here. Right. Right. Yeah, yeah,

the socialsos of you know, they can be think, 10, 20, time to before. If there's

there, can, who's the person in context private equity, or even venture capital

that's the cycle of theot of theucle of $7-tawn. Beto. Now, this is theososos ofos who are men for the penningingingan 20-tahearned to the time. Warren Buffett, too, think 20-20-20-20-20. Panjahpity, Radalio, Kathy Wood, to thinker 10, 20-town to-duncter. And, maybe, private equity,

maybe, can, retail investor, can't be able to access halter-suit, that's good. And they're, and they're also, the non-public. Now, how, how much, there's got to do you there'sosok,

socialsos of investmentation in public markets, making up, and make up position for 10, 20, 20, time

to the time. Now, that, so, yeah, the example of India, capital market

is very bigembang. And, toko, toko, like in Indonesia, the,

the, Kang Hong, that's the most that's the most of the most of the it's been in India. So, people who are you can't even make sure long long, I'm from missing, so many people, we're seeing.

And many people are infestation in there, they're using talko-tokoe to people, really, to make up education to the community. Now, in Indonesia, can't be there. So, if I'm really, I'm that's not so much is to beauntary to doxie from the same thing

actually to give ushastasies in the language Indonesia because if we look at it, we're going to beauling online, actually, kind of, investasy, the people of Warren Buffett or some of Adelaidei and other,

and again, there's, there's, not there, can't be able to beaughan in Indonesia, so, really. So, it, it's a missing link, So, so on the people, still still still still

so much more than people them play play with habit. Adhance-influents-in-fluentser who, mala, investasin'a in crypto. Yeah, right? So, it's, actually, that's the

barrier the bestor for a person, like, how we can, so, how we can, so, the, the, intinginginging, so, so, so, so,

we're, We're with influencers and menhacken again, how much, we're just try to make, make, make, make-a-investation technical to, as well as like what? Risk management.

Imagine, risk management, is one thing that's important, actually, for the investasies. So basic, that's just that content in language Indonesia, that's not there. Has it's not. Terbatas,

And that's It's very important, yeah, for the company, to make sure, to make things in Indonesia. This is structural. Because

the data that in Indonesia that has been duration long, it's to be able to deposit

and and maybe real estate. estate. If we'll get, maybe, data, that's-di-investasikin to-shaam, there's-a-lawed. But, but theosok in the back of the data-dana-pension-terseput,

that's not. Yeah, right? Now, that's what I'm going to be thinking to beckypickering to the way, so, so, the buddaya investasy, this is more like the waycai to the way to the and I'maqiqaeda

bansinganerati I'm not equity. I also think of narration bitcoin and this is all in context jangapangang. From 100 years ago, if we invest in equities, it's returner more good than than

class asset that other. Yeah. Now, but back to low time preference. Yes. How much, so, when they're

okay, if they're there's such as such like Lokenghong who can be investasasy, what other

we need we need to we're doing that, the more them more than more than

can't be thinking about Not just about mechikikers. Yeah. If we're at times, team we're doing, because we're not focused because we're

that fainfluencer in Indonesia, especially, they're, they're, they're, because they're that's really

the part of, mind, for people that with investas, that's, that's, too, is,

well, how, we can, can't use the talkot and and give them give them actually education even basic,

where we're making-agreaching that investment in fact that and from the same and other than other it's very important. Because if we're just we've been even thought that, maybe we've been

still making investations 10, we'll be back back. We've got to investasas about, wow, yeah, investations to cash, that's very important. Because, if we're, if we're people like in the world, they're not a larger proportion of their wealth.

That's, it's been, it's been, it's true. So, if we're set, can. So, if we're looking, data that, the people, top 1% in the world, they're, they're making 60% to 70% from SNP 500.

So we'll look, wow, the peopimilican equitats is very important. Now, but how we can localize what we've done in the world to Indonesia. Menorot, we're

amplification melancher. We can engage them. We can use them together with them. So, actually,

even more than they're doing, they're doing something that's sustainable, yeah, and they're also learn to resetties at this time, so, yeah.

So, kind of like growing up, with, with the user and, like, so, so, for influencers, influencer, this,

in, I mean, I mean, in the meantime, we thinker in, to be able to be able to beaure can't. Yeah, right? Right.

But, but yeah. Kwey's more great for everyone. Right. Not one, two people just. Right. Yeah, right. Not one, two entities just as far. But it's more than you.

I'm going to be anjerk to topic that aga bad. Judulness. The wordedarsan artificial or artificial intelligence. This, if if I'm back, publications, this, yeah, quite much of the way in the way of the data

economy that can be derived from the power of artificial intelligence, this can be able to $100 trillion in $10 to $15,000 to be a time.

I'm going to be able to be able to be. I'm going to be able to be able to be penit, from delta not a little. yeah, right? This is it like carata that's

like a lot let'sir like to go to two places that's the United America, America,

America, the, the is that a real concern or misplaced? Or misplaced? Salaparker, concern.

Yeah, soju, so, so, if we can look yeah, But if we see a lot of data, if weasks, take all market, so, means that's what, what is what,

means that's what? And, the way, that's going to be able to be able to beersaing with the most big, yeah, right? So, industry that winner's take all, is the chiri-chirin'n't like that. Now, we'll look, really, because, because America, from the other than America, America China is, yeah,

they're making them make money that's more good, right, right, from, from the other, to be able to investation at the technology technology to be. Yeah, uh, the end-un-un-in-uh-nus-in-nurot,

if I'm pretty, yeah, uh, ujum-un-num-nia, um, the one-onegum-in-in-a-oh-old in America or China, in the, in the world this. Now, the part of Indonesia is how we can't be able to neutral, and how we can use and how we can use pengotawain or technology that there, which is now,

which is the two negatari this, also can't make-embang-productivitist in the country. That's the, the power more important to be there. How much of the big of the big of $100 trillion, this is. This is great-a-b-a-b-a-tringa-tangara, with population, 700-juta manusia, PDB, 3.5 trillion dollar, baseline-ne.

5%l, like, a protumann economy per-a-one, with conventions that's already there's still this. But if they're emperpelt with AI, massa,

not be able to see, to $8 or 9% per year. And if if we're economy we're just 3.5 trillion,

this, this is a $1.00. We can't get 10% from that just. That's

$10 trillion, can. Yeah, in 10 years, yeah, not much. We can't we can't

we can't make 7, 8%. Yeah, Right, shuckers, now, this, how much, we can capture the verdiahean AI

this, so yeah, not, it's not it's not to America and to Hongk

this. This is great, right. Yeah, and, if we're, if we're big,

some of India, some man a. which can bemerdai in here, yeah,

I'm just, I'm just just, it's, it's, it's, it's, it's,

it's, Right. Now, if this, if this, this is one thing, it's a lot of commoner controversial. But, but, in Indonesia, it, people is still peckar, the concept data, it's really, to the end-to-wing-un-un-in-un-y-june-in-penting. So, data, really, data private we're, yeah, that's around around in maybe in cloud, in cloud, like,

that's the world, it's, like, like, like, is it, because we're, because we're, between America and China,

they, to the, who's who has been making data more. If we're looking, if we're looking, if we're, it's,

one, that's a, channel that's quite It's important for people, right? Now, right? Now, so, this, America is still more maju from access data, yeah,

because they have to have many people, Google, and Facebook, and, and, and, like, and, and, without we know, the data, data ouraerga ourga, it's all in there, actually, right? Yeah. And, but we're not,

Now, because of the country China, from the first of the world, they're from blocker the same. And, and, in fact, I mean, to be able to people, and, line, line, in Indonesia, that's one thing we also

that we also have to make sure can. Strategy our, for asset from data our people, what? What we're going to work, actually to use as product barter, on the AI, how much of the power, from the company, from technology,

like, transfer knowledge, training atas, uh, people, and, like, and, like, that's been there, now, it's, it's, it's, it's done, it's done in India. Barter, this, it's already done in India. I, it's, backangin, yeah, So, like, like that's, they're in idea, they're so big, yeah.

Now, if we're not able to make sure that's about so, yeah, so, you know, not able to make sure that data, it's really, that's set-negara, it's, I mean, I can't be sure, for Indonesia, it, is relevant from the way of the same thing about AI. Because AI, it's only...

Yeah. ...tidecoulde. ...toeatheathe... I'm okay, okay, so how much? Yeah, so, yeah, so if I'm, if I'm, um, so on the, um, yeah, the most important, how we can't negotiate with

purusans, persons, like Google, TikTok, Apple, and, line, and, like, and Microsoft, too, yeah, and, make sure, and, give foreign direct investment to Indonesia. Yeah.

So, but they can't operate in Indonesia, but, but how much more than they also, but how much more than money to make thembangs our, people, soing we also can be able to make sure we can make a lot of from innovation and line-lain for the Permanangangangu-I, that's.

So, don't even say, we're, now, penguona Tick-Tock is number 2 in the the world. People's the Facebook. We're not number 2, right now, not even,

we're doing it's um, and making time to be langer, but we're but we're not

but we're not about something that we're if we're looking, Google is team in Indonesia and

and maybe I'm not said only just but people, technical team. Yeah, rap office.

So, so, so that, so much. So, so that's... So, you know, how we can use can't use of our with 280 million people and people who, really, really, gila, social, so, ma'am,

so, yeah. So, yeah. So, yeah. So, yeah. has been redar in Rousan and technology like this. How can't we can't use-execution something that can

be able to work-term to make-buehackan a culture engineering in Indonesia? That's the harapan I. And, and, maybe,

maybe, there's been some movement to have had been that's about that that's important, I'm, this.

Yeah, this is a bit. But I'm the last this is quite vocal about how we're too-invested for STEM. And I'm using data that lullus S-3 STEM in America.

That's the most from the Hong Kong. 6,000-skian. And, number 2, India, 2,000-skian. Number 3, Korea-Slatan, 1, then. And then,

Turkey, and Indonesia, 802. Ghana, from that's 100. From that, I've been seen to look, this is very investations

in the penidicant for STEM. And this can be kind, with the world and

other than people are that inundas the amount that's much, like, from the

people, in Indonesia. Right. How much to be able product product of the product pedigants,

engineer or computer scientists and also can make sure money. To be able to make

don't crack money brennering that's in here. So, yeah, back again

to narration you, investasy this is more semaract for people,

to be much for that, that's it has It's about to bejured, it's the

end up yeah, yeah, back, the end of the end of the end up end up

end up doing the end up money or fullus. Yeah, but but again

about the AI. You know, panagan you know about AI. With open AI that

very much get over different source to make source, to be able different not for

profit, and so how much? Yeah, That's a negative, but that's what I'm noteworthouse, yeah, but lucidna, if we're looking, yeah, if I.A. it's really, they're going to beapeutic source.

Yeah. Because to develop a lot of technology that, scale of so much as far as it, and too, to we can bepercept development atas AI. It's to becooked, it's a concept open source and democratic, yeah, where everyone that's people,

everyone can't do you can't because of the data by AI is very important. So, we're looking, since they're privatized, actually, accuracy of system that's menerun.

And that's why? Because they've already not, not, it's, the, the endings, make,

make data, data, data, that data, that's, there that's in the world before before

when they're over-source yeah-can they're also can't be absorbed data data data that's there actually there

actually actually. Now, that's really the only that they're going to even moreangy

the quality their to the point yeah. Now, the question I'm more to,

if China with ideology that maybe more centralization about democratic, apache,

is, about it's about a. with a. With scale that's the same about open AI. And that's

partion that is about about China can adjust with that because without open source in my

mind I'm not much, AI, that is able to be quick. I'm I'm

support. And open AI is very important to multi-disciplinar can

discursus So I'maacusen. Taddy, I've got to beaughed. I was, I'm looking at the Pembassasance on AI that's very multidisciplinary. And

the more more multidisciplinary, it's more kind of bifurow. But, product. And this,

can, application not only for investation data just, data this, this application

all across of humanity Right, right And if we're too one-dimension or one-dimensiccan or one-dimensiccan this,

it's justat we're going to multi-dimensical this so yeah bichab product now.

Now this, I'm looking there's got get get-guesa-a- -guesan to make close-sour-sour- -sour-and,

to for-for-for-profit-ifes. If we're for-profit-khaned from non-profit, yeah, it's confusing too, can, every week, di-to-lele with investor, eh, how about, I beth, bids, do you do better?

Beto. That's the difference that, if, I think, I'm not-baguessing, too, I think, more than, I'm not-picker in the long-pank-pank-pank. So, it's very much

with the case Google Bart, yeah? So, Google Bart, it, they're really, before they're back into but they're just like someone, they're just like,

a user, you know, someone who's, they, too, and system AI is, you, is, people, with a, you know, with a,

with a risk, that, if I, for-profit, all-hall-to-it- all-to-be-you- be part-to-beckxastor. Meskippon,

if we're, if we're looking, or any scientific pursuit, right? Right, right? Right, right? Room for error tersebutt, too. Room for error to beerbearderceboating

so, technology can develop more quickly, right? Now, if, open source, the whole the result of the

jadey, can, not one of one, the same community that's, that's about, the open source

to be, socephos, so, the, not, there's focused with one institution.

Now, this, because because of the open because of the profit, he's going to be able to one level, me, with Google, where he has to make think about, menace, bureaucracy, that's a for-profit company.

That that's who can't be able to be not going to be a lot of good, yeah, inunders, because innovation, because innovation, And so much more like, it's about, unbridled, has to something that's the same thing is the other than opinion of people

other. That's a lot of, that is the kind of kind of that they have been able to bellowy and they also have to thinker it. There are in poweringingal AI for the penitentingalue. That is, is there, not,

things, how, things, things about people think about people think about. Yes. So,

the most important, yeah, um, for the AI I'm, I see,

that's, how much we can't make, concept, which is a hard, um,

for people, um, to the, and, yeah, and it's, it's, by,

the, CHATGB, something that's something that's about, yeah, right? So, that's one thing we'll see, it's going to be a part of the future yeah, really, yeah, we're going to be able to make sure, how we can't make sure

how we can make the language ofuangan it's just gauul. Yeah, right? So, you know, Yeah, yeah, yeah, yeah, and they can, while they're, because, can, uh, shorter span, yeah, so they're, yeah,

maybe, you know, focus of their, maybe, yeah, probably, yeah, probably 30-detick, right? So, for they can't, so much specific, yeah, can, more specific, more specific, than they're more than they're like,

or men's noton one of the video that's a lot that can be more more than more. To actually make sure can't concept

concept design on money and like, there. There again, Claudia, the pen,

the end of the end up here. That's, so, so, so, so, so, so, the,

people, People'sa We're not even if we're infestation We're like, too, sechairs. And investations, what? Long on equities, long on... If I'm... If I'm...

If I'm... ...and, I'm 10% to be Bitcoin. But, because I'm also young young, I'm sure with equity, because, because, can, as long as we're thinking with prospect business

or negara and other, we can't assume, like, 20-tawn to the up to the up to the up to the other than the time. So if I, too, I'm, I believe in the same, pa. Believer in the same, siram, sir.

Okay. Thank you, Pat, Gita. Thank you so much. Teman, teman, that's if they were colonas, the impinan, from, plowang. Thank you This is that's about NG

D'n't even Ranguelsk Ranguelskka 599,000, eh, already 60,000 to be Raiaka

Punei-N-a-Nus-a-u-nibu-tall all about not-bearsilan But, but, emmang should bea-sail-d-d-l-you-bearay-in. For us, forjewan-mer-recagare-a-kata.

Like Alessandro. The journey of my life's life. Langellings, see, in investations of crypto, but I still keep saying, who's trying to cicil room. Ambil cutusance to buy a lot more. Many things that make over-thinking. I, at this, still be able to buyer KPR floating. And Radem, who has been trying to continue Nes 2.

With many of the impiance, I'm being I'm more than I'maithing. Semper profit a second profit but it's downing three times. Menoge to beerhousal it's really perjewanguanguang. Untonged I'm not sure I'm having to be reticot myrisicot.

Menorut my mindset is the most important for investation. Intin't you, the intentin'n't beaqar and learn to make sure to make sure. From their, the story of their

Lewate car, Pelluang percaya, if the war-jewan can't have power more people from

from all of Indonesia, and give them and support and not

not even because because the of the people, Butka PoloA