A twist in UangTeman’s tale: a white knight rises

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Hello there ,

Fairy tales, movies, and books keep us steeped in the savior narrative. Some of last year’s box office juggernauts such as Spider-Man: No Way Home and Dune play to our never-ending fascination with a hero who swoops in to save the day. However, sometimes we forget to draw the line between fiction and reality.

In real life, things are more complicated: Even good intentions may have negative outcomes. The savior complex - or white knight syndrome - is defined as the need to “save” people by attempting to fix their problems. It's an issue that negatively affects countless people. Those with a savior complex may experience frustration, loss of control, resentment, and a sense of failure, among other unpleasant emotions.

Usually, most of us don't need a “savior” - we learn to deal with life’s problems by focusing on the actions in our control and accepting the ones we can't control. However, occasionally, as in UangTeman’s case, there is a desperate need for a white knight. Today, we see how the Jakarta-based online lender could be saved from the brink of collapse.

-- Shravanth
 
 

THE BIG STORY

Troubled UangTeman finds potential buyer, seeks OJK license extension
Former employees, however, continue to be skeptical, and they have requested an audience with Indonesia's financial services authority.
 
 

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TRENDING NEWS

Sequoia leads $13m round of 🇸🇬 blockchain authentication firm
Web3Auth has been used by more than 1 million monthly users, with its tech being integrated in the crypto platforms of firms such as Binance and Ubisoft.
Crypto platform offers up to 90% interest on Axie tokens
Sequoia-backed Finblox is a platform that allows people to earn interest by depositing cryptocurrencies.
Beauty social commerce firm bags $10m in new fundraise
More than 200 brands and 50,000 sellers use Raena’s platform.
Akulaku eyes US listing via merger with Patrick Grove’s SPAC
The fintech firm aims to raise US$200 million to US$300 million in the IPO process that may put its valuation at US$2 billion, Bloomberg reported.
PUBG developer sues Garena, Apple, Google
Krafton is suing Garena for allegedly copying its game PUBG: Battlegrounds, reported The Verge.
Twitter elevates former Disney exec to SEA head
In his new role, Kreuch will look to accelerate Twitter’s revenue growth in Southeast Asia.


EVENTS HAPPENING


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