haslinda: it began as a [indiscernible] ofking to harness the power 75 million motorcycles. now they cover ridesharing, --gistics, food, and in tech ==

fintech. still in his 30's, it has been quite a ride. from a ridesharing app it controls 95% of the online food delivery market. it is worth 300,000, dominating the same market and indonesia's largest digital wallet, all achieved in two short years. welcome to high flyers. on the indonesian

rider.r bike and guest: when i was in business school, we had an independent study project that i had this idea i always wanted to do and -- is a it first as ago school project and i decided, call just try building a center. we did not have money to build an app. we set up a few phones and started recruiting a few drivers and that is how it all began. i recruited the first 20 drivers and those 20 recruited the next 100, 200 and so on. has linda it was slow going initially. it took 30 minutes to get it. we had to call the -- to order

and call the driver to find an airstrike her. it was a slow growth rate. it survived for three years without any funding. haslinda: is it true that you started with six phones and you took calls from family and friends? guest: we started marketing on our personal facebook pages and friends and family and they started using it and it spread organically from there. we do not have any -- did not have any money for online marketing so it was all word-of-mouth. forced you to work at other startups to keep your startup going. guest: i had to make a living so i could only do it hard time. we had a small team and i was working in other companies. i was the first managing director of rocket internet and indonesia. i had to do other jobs where he aarned about how to build

tech startup, how to scale it up. it was pivotal that i had these experiences. i worked for a payments company, learned about innovation and a merchant payment space. i -- it was critical to get that exposure so when it did come back and turn into a full technology company i was welcome there. to scale?what helped guest: having the right product at the right time. at the inflection point where congestion was a serious problem. i think the product was just so convenient at the time that it struck a chord. it helped all the drivers were wearing green company jackets. everyone could see what are these green jackets and green helmets running around? haslinda: how did you start? how did you convince drivers and

riders to come on board. guest: it was a simple proposition. here's how much you make. you work 14 hours a day and you take three or four orders. -- we could double that amount of orders for you, we could take six or seven orders. you would make 1.5 times. would have a steady stream of revenue. do you want it? ok, sure. i am guaranteeing you a much more stable and more frequent number of orders. haslinda: the company is valued at a few billion dollars. a hundred small with thousand dollars of savings and loan's from family. how did you convince them, what was your proposition to them? i said, listen, imed am doing this, i need your help. beo not think anyone would

successful. i basically said, look, this is something that is interesting. the market is very big. it,to be honest, if i need i feel like a lot of people would need it as well. otherda: what are the challenges you had to face and did it start in a garage like most startups? guest: a garage would have been nicer than our first office. the first office was a rundown house. it was the size of most people's bedrooms. it was really decrepit but it was super chief -- cheap. the challenges when we first the firsts convincing 20 drivers was a little bit tough. convincing the next 200 riders was easier. we already had drivers in the system making more money than they would have otherwise. that was the first challenge. building the is

system ground up, even the dispatch center using desktop .omputers and phone orders it was actually super complicate when you do not have enough technology resource, when you do not have enough developers. that was a challenge. the next challenge was in getting people to change their usavior to calling for instead of healing one at the side of the street. about technology in the end. motorbike riders have always been used by indonesians. it was the technology that changed everything. did it make it more efficient? guest: yes. that is what consumer technology does. capacitylly takes idle and makes it productive. therefore, overall, not only --e we transferred

transformed it, we have reduced the bikes from one third to half of what it was before. double ofearn drivers what they earned before. that is a very fascinating dynamic. that is typical positive effect of efficiency. utilizing more of their time but at the same time, the price of the consumer drops which increases the market which is this positive cycle increasing the market size. the market size since we came has exponentially increased and now the majority of our users are women. that was not the case before. there is this added layer of safety and security in having a company find the drivers. haslinda: what inspired the growth of the program. go-jek.t just what inspired that thinking? guest: we got lucky with picking

the name. perfectly with everything. that was almost like serendipitous thing that led us to hyper-diversify through the other segment. food is just doing incredibly well. i think we are one of the largest food delivery companies in the world now and it is only in indonesia. i think what spurred that was the fact that we had this asset called the driver. mostow to make this asset efficient and most productive was our number one objective. what we realized is this driver today, the driver takes you to work, during lunch time, it is delivering food to offices, during afternoon, it is delivering e-commerce packages and documents. come rush hour, they are delivering you back to your home and well they are around your home in the evening, throughout the evening, they are delivering

food to your home. for dinnertime. in the time in between, they are go-pay. came fromification how to use this driver in the maximum way possible? that is what makes our competitive advantage so strong. our efficiency is highest because we can provide the most revenue streams to the dryer -- driver. ♪ i would not call us a success yet. haslinda: that would be a success. guest: that part feels good definitely. ♪

haslinda: this is an adaptation of uber. it is providing services that go-jek is providing. is interesting how things begin as an adaptation of something else but then initially what inspired you in terms of you can inspire it, this is a very interesting feeling for us as a management team. i think that what we are seeing is a convergence in the market itself towards multiple on-demand verticals that have synergy with each other and i think that go-jek is a little bit ahead in terms of

discovering that. from transportation leads to food leads to logistics and now leads to payment. i think that kind of foresight go-jek at an advantage, having accelerated quickly toward the verticals. haslinda: which has more going for it? payment? guest: we have four mega-verticals which is food, logistics, transport, and payment. the biggest one will be payments. just by the nature of the business itself and the , 75% ofl given how many the population are [indiscernible] we believe this path from transactions to becoming a ubiquitous payment while is something that is the biggest toortunity to take go-jek its next inflection of growth.

haslinda: do you envision more come petition from elsewhere, from other startups question like you have become an inspiration for indonesians. guest: i would not call us a success yet. we have -- haslinda amin you have created a million jobs. that would be a success. guest: that feels good and in terms of the ecosystem we providing jobs in the formal and informal sector. thatnk part of what drives growth is also the structure of indonesia and how we have leapfrogged toward mobile technology in such a powerful way. i feel like indonesia is not alone in this in the sense that there are large emerging markets that are making similar leaps toward mobile. that is the way that a lot of tech startups can arrive toward creating, every transaction going through mobile phone.

the master division is the limiting the need for a wallet and eliminating the need to ever carry a wallet. as you go around your daily life. that is the aspiration. haslinda: you said before you need to innovate -- out-innovate everyone else. how do you stay ahead? assumea lot of people that innovation happens out of creative minds of individuals. innovation is an output that comes out of a process of collaboration and debate between people who behave like scientists and are open-minded and curious in learning and when you mix people at and they did they and fight about ideas and they have the kurds to execute, the output of that is an organization that creates innovative concepts. innovation is a group activity,

an output of a way of group interacts. we have to bang important core values. the first one is it is not about you. that is our first core value. it is not about you. it is all of -- always about your team members are the customer. you have to always think from that perspective. the other one is be a scientist. this is where the access xp or mentation in an almost playful sense is extremely important and that is why we have been able to diversify so quickly. haslinda: the last fundraising came up to $550 million. you have been busy acquiring indian tech startups. what is the recent, why indian, why's it so important to expand? at the scale where we are, we are one of the largest inpanies in the world and terms of number of users and

number of frequency of transactions, we have to ensure is ther access to talent most optimal. an r&d center in singapore and we have one in bangalore and indonesia. we have to tap into a global pool of talent. in india were mission-critical for us to get talent that were exposed to doing things at a much bigger scale. because the indian startups were doing things at a larger scale than saw the southeast asian startups. we are not restricting ourselves to singapore and angle are. we are now tapping into a whole global pool of talent of engineering, product, and data scientists. has linda: we can expect more acquisitions.

guest: the acquisitions were more of an -- a higher of cultural fit. we acquired the company so they could come in as a family. has linda: you have made clear that indonesia is the key market, 250 million, multiple players. that is not to say that you are not interested in other markets. could india be the next market? all, whether we will eventually expand regionally, probably. india anytimeinto questionver is still a mark. if you take our second largest aloneal go-food, go-food does more traction spur day than the top four or five indian food delivery startups combined.

is thatare noticing indonesia has an internet consumer market, it is such an attractive market because people like to spend, they're mobile engagement is very high. and so i think there is so much to grow in indonesia alone and there are other countries around the world that may have similar dynamics to indonesia that we are looking to explore and consider whether we should expand. expansion is more of a question of when as opposed to if. ♪ whenwas one of those kids asked what i wanted to be when i grew up, i did not have an answer. i like to build stuff. ♪

haslinda: what was your ambition going up -- growing up? was there any political ambitions? guest: no, definitely not. i was one of those kids who when asked what he wanted to be growing up, i did not have a natural. i just liked to do things i liked to do. i'd liked to build stuff. i was kind of obsessed with legos and i never wanted to follow the instructions. that was what my mom always told me. i refuse to follow the instructions and built my own thing create i always like building stuff. my mom since a young age and my family, you do not get any brownie points for going after money or doing well

financially. like theto contribute heroes that she used to say, the people that she respected were people who give back to indonesia at some point in their lives. and so that was always in the back of my mind that to make my parents happy, i have to do something back that has some impact socially for the country. i am extremely fortunate i am able to do well in business as well as have a very large amount of social impact. i am fortunate that way. haslinda: if you had a choice, you would undo the current education system, what would you do? guest: undoing would be an describedrd to that. we need to rethink and reimagine the education system as it is now. being in the technology industry, the level of change

and disruption that will happen ,n the employment space is so it is a most unpredictable what will happen. the most important thing will be the agility of the ability of humans to relearn something again and again. the current education system is not designed to do that. system isf education fixated on standardized testing and memorization. even in the top institutions. has linda: try to envision 10 or 20 years down the road. what do you see as jobs and what do you see as what the economy will be needing? of hardwareation not artificial intelligence is going to fundamentally shift where human value is placed.

where one -- jobs that were highly analytical and qualitative will be the most vulnerable to algorithms that will do a far more better job than a human in taking into account all these variables. i think that this is not just everyone is understanding that blue-collar jobs, robotics and anufacturing automation, thomas vehicles is a huge risk for drivers. those who do it professionally. it is white-collar jobs that people underestimate, the amount of that can be replaced with technology. that countries will pick this up but i do not think they are doing it fast enough to retrain their

workforce. and understanding that probably within 10 to 15 years, people are going to have to do something different every five years. the concept of having a fixed d, 12 yearsime perio of education and three or four years after sherry education, that format is no longer going to be optimal very soon. slinda: will you ipo? guest: it is one of our aspirations, yes. as a company, it is what we always dreamed about. we do not have a time frame yet. that is definitely one of the high probability scenarios that we have. haslinda: all the best and thank you. guest: thank you for having me. ♪

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