I'm not worried about the regulations. Why not? Because I know I'm a good guy. I have interviewed Jack Ma at least four times in the last 25 years, 30 years ago.
In 2005, this was Alibaba's first news, I asked him how he was sitting in front of the directors and he said ... The government loves me because I help them build a business.
He had that rage back in 2005. So that violence has returned and has taken the viewer a little further. More than two decades ago, Jack Ma founded Alibaba.
Today, it is China's largest e-commerce company and one of the largest companies in the world. But more recently, Ma and her state of technology have been in trouble. In April, Alibaba was fined a record $ 2.8 billion for individual conduct.
Ant Group's partner, with Ma in charge, has been ordered to restructure its business following the sudden suspension of its IPO in November 2020.
Silence is just the most remarkable, which we think of when we think of Jack, we think of him as a very loud, unstable sound. And so we are all shocked when he does not speak. But Alibaba and Ant are not the only technology firms in the eyes of Chinese regulators.
I think this is a time of openness for China's technology sector. Some would say that China's golden days are over. So what does the future hold for Chinese technicians?
It has become a myth. In 1995, during a trip to the U.S., then-English teacher Jack Ma first encountered the Internet at a friend's place in Seattle.
I searched for the first word, beer. I don't know why. Because it's easy to spell maybe. And I see beer from Germany, beer from the USA, beer from Japan, but no beer from China.
Back home, he started China Pages, a website similar to Yellow Pages, but it never went away. In 1999, an internet stock boom hit Wall Street.
And back in her Hangzhou apartment, Ma decided to try again. With his wife and a small group of friends, Ma founded Alibaba, a site that allows businesses to trade.
That same year, a newly formed company, Tencent, launched its first product, OICQ, an online messaging service. Alibaba came. Tencent came.
Grow them in certain areas, such as in the game. Alibaba grew up with e-commerce. However, their services have only recently begun to be fraudulent and disconnected.
Alibaba and its affiliated ambassador, along with Tencent, are the twin pillars of China's internet industry.
You can think of their impact on the products they offer. So think of the most powerful internet apps in the U.S., and Tencent could be a combination of them all.
Tencent's WeChat, for example, is one of its main services, a combination of WhatsApp rather than TikTok and financial payment services like PayPal.
Alibaba is best known for being an e-commerce giant, but the company has grown much more than just its core business.
It has businesses in fields such as logistics, entertainment.
Consider the largest blockbusters in the U.S. "Mission: Impossible" sponsored by Alibaba Pictures. So it's a very powerful combination.
Tencent and Alibaba apps are used by a combined 1 billion people.
Each company has a market capitalization of more than half a billion US dollars, and they have invested billions in Chinese technology initiatives.
Startups have to deal with the duopoly, and usually have to take money from one of these two camps. And it's almost like a promise you can't deny.
Not taking money from them can be dangerous. And if Alibaba or Tencent decide to invest in your rival, the consequences can be devastating. In contrast, when it comes to services, e-commerce players often complain about having to choose between e-commerce platforms.
It could be Alibaba or its rivals. For more than a decade, the Chinese government has allowed the internet industry to grow without looking as small as it was not yet considered an important industry.
Beijing also hoped that the expansion of these companies could boost China's economy.
Using a model that combines the US capital with China's leading businessmen and intellectual power, the Chinese Internet or technology sector has suddenly grown into a giant behemoth that one night.
When the government realized it was too big, out of control, some would say. The ability to collect large amounts of data and integrate it with artificial intelligence gives them valuable insight into the 1.4 billion people and key industries, the world's economy, which is at the heart of the ruling party's concerns.
If these companies operate beyond regulatory limits, there is a risk that these companies will place themselves in the ruling Communist Party.
And power is at the heart of everything and at the forefront of the ruling party. China puts the brakes on the world's largest IPO. The Ant Group list in Shanghai and Hong Kong has been suspended.
And this is an amazing turn of events. It was the first major donation made to the community, and money was pouring into it. So on that basis alone, it was an impressive face from the regulators because we were already given the go-ahead by the security regulators, and at 11am it was pulled.
This will be a $ 30-plus billion IPO, but it all fell apart after the talks, in Shanghai by Jack Ma, in which he criticized the regulatory environment.
He criticized state banks for operating as retail stores. And he did not read the room well, because the audience at the Shanghai Bund conference was packed with government officials.
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