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Hello from the Windy City.
I am visiting in-laws in Chicago, and it’s been a great couple of weeks. Hands down the best Indian/Pakistani food in the U.S.
I'm an introvert, so meeting new people isn't my thing. Connecting with friends and family is different. There's already an in; you know a little about their lives and have something in common.
That said, have you noticed an excessive number of startup events happening in Pakistan?
Don’t get me wrong. Startup events have a place in a thriving ecosystem. But given the state of the ecosystem, these events are as useless as tomatoes in biryani.
In February, I discussed in passing that these events don’t result in big news or funding announcements. We are in September, and nothing has changed.
And if you look closely, you will see that the same five speakers are speaking about the same three things they discussed on 17 different podcasts.
I go for the speakers when I attend a startup event, as networking is not my thing. But I am curious if people do get value from such events. Make it make sense.
Let’s do the numbers.
💰 Funding (disclosed)
Paismo raised $1.3 million in seed funding from Indus Valley Capital, Antler, and Jedar Capital.
YTD startup funding currently stands at $29.6 million.
📰 Learn
Pakistan’s homegrown version of Google Maps and WhatsApp launched. You can now buy used items on Daraz. FY23 IT exports are stagnant at $2.6 billion. Bayer Pakistan partners with Farmdar. Mashreq will soon begin digital banking operations in Pakistan. The ongoing brain drain. SECP announces strict limits for loan apps. Zameen’s revenue declines. e-Safety bill scrapped. Dr. Umar Saif is the new Minister for IT and Telecommunication.
🧠 Think
Fintech environment in Pakistan. TikTok is educating Pakistan. For once, let’s embrace technology. Does big tech evade taxes in Pakistan? Will Pakistan finally rein in nano lenders? Everything you need to know about the personal data protection bill.
🎙️ Listen
Conversation with Asad Hashamali, co-founder of Alt Academy.
📺 Watch
Conversation with Asad Hashamali, co-founder of Alt Academy.
Until next month, ✌️