Hacker News new | past | comments | ask | show | jobs | submit login

You can look at his existing behavior for clues to that being the case. When he took control of Ant Financial from Alibaba, spinning it off, he gave himself 2/3 of the business. That diluted position would still be worth around $80-$90 billion today. Instead of holding onto that, he proceeded to massively dilute his ownership and control of Ant. The reason he did that, is the same reason he was allowed to take it away from Alibaba without proper compensation (Alibaba was majority owned by multiple foreign shareholders): strategic national interest, an edict from the government. The major banks are all directly state controlled. A very large share of all online transactions in China flow through Ant Financial, the government couldn't allow that to remain in one person's hands. Jack got his orders.

In China as a business person it's extremely dangerous to become too powerful or rich, especially now. Maybe you could have gotten away with it 15 years ago. China of today is very different from China of the late 1990s and 2000s.

If Jack Ma had held onto his original contrived Ant position, he'd nearly be the richest person on earth, with a potential chokehold on finance, industry and retail in China. That position could have plausibly been worth several hundred billion dollars to him personally over time. That's not something you want to aspire to currently in China.




That process began long before Alibaba ran into problems with Xi's people (and it was a petty dispute with lowest tier retainer)


In the East the Political Class holds the power, whereas in the West it's the Business Class that holds the power




Registration is open for Startup School 2019. Classes start July 22nd.

Guidelines | FAQ | Support | API | Security | Lists | Bookmarklet | Legal | Apply to YC | Contact

Search: