In Southeast Asia (SEA), unicorn exits and tech company listings have proven to offer founders and investors unrealistic expectations, given the maturity of the market. This dilemma has left founders in a challenging position as they have to optimise for the outsized outcomes investors that follow Western narratives desire, while facing the reality of the consumer landscape. At LiquidX, we aim to shift this narrative and demonstrate that it is possible to achieve large-scale outcomes by using a distinct approach to company building. Through a holding company (holdco) structure, we will build multiple cash flow-positive businesses that can, but do not necessarily have to, rely on venture scale narratives. The usual arguments against this approach are as follows: 1) The focus of founders will be divided, hence ineffective. 2) We won’t be able to get top-tier talent to build companies this way. 3) That Venture scale outcomes are not possible. We believe all 3 arguments above are false narratives, and aim to prove that this new (to tech) model of company building is the optimal approach for emerging markets. Along this journey, we aspire to ensure that everyone involved enjoys the process.