36 Burst results for "Jack Ma"

Fresh update on "jack ma" discussed on Bloomberg Radio New York Show

Bloomberg Radio New York Show

00:44 sec | 12 hrs ago

Fresh update on "jack ma" discussed on Bloomberg Radio New York Show

"Hit with fines and regulations seemingly out of the blue The biggest Chinese regulatory crackdown we've seen That's according to Jonathan Garner of Morgan Stanley This will be the most significant of all the regulatory resets as we call it that China has done We think it's going to reshape the landscape for China equities really quite profoundly All coming on the heels of Jack Ma admonishing the Chinese government last year about making sure it got its regulation right Good innovation is not afraid of regulation but is afraid of being subjected to yesterday's way to regulate We can not use the way to manage a railway station to manage an airport With investors left to ask themselves where the China is investable right now Questions raised by David Rubenstein of Carlisle and Scott minor of Guggenheim I think people have to worry.

Jonathan Garner Jack Ma Chinese Government China Morgan Stanley David Rubenstein Carlisle Scott
Journalist Natalie Winters on Big Tech's Attempt to Silence Trump Supporters

America First with Sebastian Gorka Podcast

01:39 min | 2 months ago

Journalist Natalie Winters on Big Tech's Attempt to Silence Trump Supporters

"Think that when it comes to big business the framing of it. It's not a uniquely chinese communist party issue. i think it's it's the issue that one. These firms started outsourcing their labor their manufacturing capabilities. I think their allegiance followed. And you know a lot of these these big corporations. They want the open borders. They want the cheap labor. But i've always said that you know. These open borders work both ways in the sense that they want cheap labor and and they want to send jobs out. They want to send our manufacturing capabilities outwards. And and i think it's you know you don't even have to kind of speculator or make guesses as to where their their allegiances and ideologies lie. Charlie munger who is big guy in finance but guy business He said quote china to the right thing and response to how the chinese government treated. Jack ma blue. Jack ma is is. No hero is still a member of the chinese communist party but as someone who who the chinese government kind of tried to just person and do away with because he wanted to maybe get a little creative In terms of innovation and the anchor rubai which is an offshoot of of alibaba but he sat in an interview. China was right how they handled him. And i think that just shows you and that speaks to what i was talking about in the beginning. Which is this idea of elite merger as opposed to just elite capture. In the sense that you know. I think frankly and you're talking about big business. I think it's hard to not talk about big tech. You know what. The chinese communist party did to jack. Aw i think is really what big tech in big business wants to do to trump supporters

Jack Ma Chinese Communist Party Chinese Government Charlie Munger Alibaba China Jack
"jack ma" Discussed on This Week in Startups

This Week in Startups

07:08 min | 3 months ago

"jack ma" Discussed on This Week in Startups

"Or authoritarianism and capitalism guess what authoritarianism dictatorships communist parties plus. Capitalism doesn't work we have now proven it in three places russia china and saudi arabia. The great kingdom experiment is over no more capitalism in those places all of those are now owned by the state america in the west winds again. We've won again. And we must. And i don't want to make the supply show because it's not but i do care very deeply about human rights and i think if the united states and the west does not stand for human rights and democracy who will. Who's left. we must make it a priority. In the west. Germany france america canada mexico and also japan south korea and australia. We must india make a block of countries that care about human rights and holds the line from keeping china russia and saudi arabia from spreading authoritarianism and communism to the rest of the free world. That's leave it at that. I'm not going to talk about the situation. Afghanistan but protecting human rights is critically important and this story is about human rights and individual exceptionalism being forwarded. If you are hearing my voice right now you are in all likelihood in democracy in the west and you need to think deeply about your position because we get to vote. Were lucky enough to vote. We need to vote for leaders. Who are willing to fight for humanity and for humanity to be free and for human rights to be respected on a global basis. And if you're listening to this in a communist country We support you and we hope that you could fight the good fight and that you will have a revolution in your country just like we had an ours And that you will win that revolution and you know what. Sometimes you don't win but at the fight is worth it because being free is what it's all about at the end of the day. What are we if we're free as humans And of speech okay. The wall street journal also reported that. Jack ma had tried to go back to beijing. Resolve the issue but he's been unsuccessful so far okay It's understandable that. Jack ma is trying but the fact is jack. Ma represents You know the tip of the iceberg and capitalism in entrepreneurship and there is no way that xi jingping is going to allow jack jack ma to become the most loved celebrity in china he check. Chakma is the equivalent of bezos or ilan. Musk or zuckerberg pick the entrepreneur. Maybe not sacramento. It's not very well loved here but pick the loved entrepreneur. They know that people love entrepreneurs more than they love lead got politicians and he's not gonna win that fight period end of story. Okay just a little button at the end Which is a personal comment And i am taking this from preet. Behar's amazing podcast Stay tuned with pre and. He does a little button with his personal opinion at the end of the podcast. Sometimes it's gonna just give you my personal opinion as my rights. It's my podcast and yes this has to do with getting vaccinated. The fda has approved the pfizer vaccine. Here's the quote today the. Us food and drug administration approved the first cove in nineteen exceed. The vaccine has been known as the pfizer bio and tact cove in nineteen vaccine and will now be marketed as comber natty terrible name for the prevention of covert nineteen disease an individuals sixteen years of age and older vaccine also continues to be available under emergency use authorization eat you a including individuals twelve to fifteen years of age and the administration of the third dose in certain immuno-compromised individual. So this is great news. I know many of you were looking at the facts. The vaccine especially the fis one Which essentially ensures you're not gonna i from covert you might get covert. You might have a breakthrough case as my friend. David did from the podcast. But the number of people dying who've had the pfizer vaccine is extraordinarily low. I mean we're talking. Twenty five fifty a hundred to one depending on the community and this daters obviously a moving target. But i did see that in the new york times so That is the point of a vaccine is so you don't die. Your life is absolutely Important it's important not only to you But to your friends your family in fact humanity. We all have a part to play as part of this human species and it's just not worth the risk to not vaccinated. You have to come to your own conclusion. Yes but this is a major milestone. It is no longer emergency use. It has been approved. And it's logical that it's been approved because if you're taking the vaccine now your taking it i think in month nine ten or eleven compared to your friends and family Your countrymen and countrywomen and and people around the world there have been over a billion people who've gotten vaccinated pfizer vaccine has been used by hundreds of millions if not billions. So if you're waiting for it to come off of emergency use. This is a great moment for you to consider making your own risk assessment. Doing your own thoughtful research across many different sources of information. The us food and drug administration is one of them. And you know there's a lot riding on them making this Pre officially approved. Not emergency uses a lot riding right. They have a lot of skin in the game. People can get in a lot of trouble if they prove something. That's dangerous so. I think this is a really big moment for those of you. Were waiting to see It's a new experimental vaccine. Okay if you got the measles vaccine if you got other vaccines as a kid. I think now that it's been approved. I would say it's reasonable to think of it like getting chicken pox vaccine. No big deal. Okay go get it. That's my best advice. You have to make your own decision. And i respect your process and now you have a great piece of new information to help you make a decision and help us end. This ridiculous pandemic which is chest been absolutely psychologically economically emotionally spiritually parentally educationally brutal for so many people Not to mention people dying so take this new piece of information. And i would like to think about it deeply okay. I'm not making the decision for you. I'm not telling you to do it. I wanna tell you to do it. But i want you to know. I respect your decision making process. It's no longer emergency. News is approved. The big moment folks. give it some. Okay great episode. Talk to you tomorrow..

Jack ma saudi arabia pfizer america china xi jingping jack jack ma russia Chakma Us food and drug administratio south korea bezos ilan Behar zuckerberg Musk The wall street journal Afghanistan Germany mexico
"jack ma" Discussed on This Week in Startups

This Week in Startups

07:20 min | 3 months ago

"jack ma" Discussed on This Week in Startups

"R. o. k. e. r. dot com slash twist. And while. you're there. Get an extra ten percent off using the offer code. Twist who guessed okay. Let's get back this amazing episode okay. The wall street journal just released an article detailing more about jack mas disappearance in china. Here's the quote at the top of the article. Technological disruption once seen as a useful prod for china to catch up with the west has been recast as a threat to the ruling communist party in other words. As we've talked about on the all in podcast in here on this week in startups. China was leveraging entrepreneurship and capitalism and startups to create wealth prosperity jobs and be competitive with the democratic west however those leaders have become so powerful that they threatened. The communist party essentially the dictators in china. Jack ma the billionaire cofounder of alibaba and founder of its spinout. Aunt group didn't agree with this and acted more like an american tech entrepreneur than a chinese citizen And basically challenged authority and challenged the thinking in china as if he was bezos or bill gates Or a number of outspoken entrepreneurs here in american. According from the wall street journal g jingping china's most powerful leader in decades is rewriting the rules of business for the world's second largest economy. Okay so according to the wall street journal. Jack ma and i'm just quoting from the wall. Street journal have lost an appreciation for the risks of falling out of step. He tuned out warnings for years. According to people close with jack he didn't really think that he was operating in an authoritarian country. A communist country the warning signs with eric. He ignored them Basically lost an appreciation for the risks and He went rogue so jack. Ma disappeared for almost three months starting in november of twenty twenty after criticizing the chinese banking regulators for hampering innovation and one of the number one things about the chinese culture and the communist party's goals is to have harmony and if you're criticizing them in their rules that is going to lead to discord and it is not can lead to harmony so after moss comments to ccp blocked and troops thirty five billion dollars. Ipo which would have been the largest ipo ever in the following months and group has since been forced to restructure him lost over half its value after fidelity cut it's implied valuation from three hundred billion to one hundred and forty four billion. According to business insider china's most booming company was about to set a world record. I'll think about that and the ccp. Shut it down. Due to what any american would consider like criticism. This is an important moment for everybody to consider how lucky we are to be americans and to live in a democratic free society. Literally you could spend your life decades building an amazing company be at the finish line on the one yard line and then disappeared and have your company taken from you and your ipo basically halted So they basically say in the wall street journal that now. Jackdaws playing golf according to people familiar with the matter reading towers tax. So here's another question. That wall street journal article. He hired a teacher to learn oil painting starting out with images of birds and flowers and then shifting to it abstracts tile according to these people and photos of his artwork viewed by the wall street journal. Okay this is absolutely bonkers. He is not oil painting. He is not golfing. He's under house arrest. He's being reeducated. I am almost certain. This is probably something that Was you know made up. Or maybe he is doing this and they told him taking up oil painting and golf. And if we see you speaking out against the chinese communist party again You're gonna go to jail. It's that simple if you'll put three million liters in jail simply for being muslim And torture them and make them pick out in fields. I don't think you're gonna have much sympathy for a billionaire so A beijing official quoted in the wall street journal believes that jack ma should have been more focused on quote giving back to the party instead of just focusing on his own interest again all poppy syndrome in china. It's about the society. It's about harmony. It is not about your individual achievement which is the definition of capitalism capitalism is a brutal competition and whoever wins gets lauded as the victor and whoever loses gets to start again and maybe Fight the battle again. But we like to celebrate the winners and we like to have winners and losers. We like to have equal opportunity. Capitalism is a beautiful system. It's got some margin on the edges. I talked about that in my new book. Which i've been writing while i'm here in italy and the book will be coming out next year. And you're gonna. I think you're going to really enjoy some of the some of the topics covering it. The article also notes that there are a lot of claims rather than the fact supporting what jack ma is actually up to now and what happened before the disappearance quote mr mas spokesperson said details about mr mas activities reported by the journal weren't based on facts but rather on unsubstantiated opinions and or third hand observations and didn't comment further. Okay let's pause for a second. Why would somebody say he was oil painting golf. Jackpot could say that c could say that somebody who's trying to make peace between the two parties can be saying that the total mess and the bigger picture here is china leverage capitalism to build this amazing system and then jingping looked at it and said you know what i'm in charge and i don't stop these entrepreneurs now. Capitalism is such a powerful force. China's gonna turn into a democracy. That was the road they were on and now she shing has taken. All the capitalists out of the running just like other countries whether it was putin in russia or nbs and saudi arabia authoritarians do not want competition from high profile entrepreneurs basically communism and dictatorships are not compatible long-term with capitalism. because we've learned that the world loves capitalism. They love entrepreneurs. They love innovation whether your a person in china in saudi arabia russia america or in the uk. Wherever you are seeing somebody build something and come from nothing is so intoxicating that could actually topple a dictator and a communist party. That is what. This experiment has proven. We just ran one of the most important experiments in the history of humanity who is going to win capitalism and democracy that pairing or authoritarianism and capitalism guess what authoritarianism dictatorships communist parties plus. Capitalism doesn't.

jack ma the wall street journal China jack mas Aunt group Street journal communist party alibaba jack mr mas bezos chinese communist party bill gates poppy syndrome golf ccp
"jack ma" Discussed on This Week in Startups

This Week in Startups

05:49 min | 3 months ago

"jack ma" Discussed on This Week in Startups

"Entertainment industry Program also known as an affiliate program If this was you know then they got one percent of every model that they brought him the systems referrals to the system It would be a full blown mary. Kay cosmetics and As always we're seeing massive innovation from the adult entertainment industry. Maybe this will all come to podcasting at some point instead of listening to this. Podcast you all have to pay. And then i'll turn you guys into podcast. Take some of your money is not likely to happen. Where we're doing very well with the advertising sold-out think we're sold out through november and we just went to five days a week so the podcast is doing great. We're hiring another producer if you're thinking of Getting into podcasting. Where you've been in podcasting. Were going to hire our fourth producer so be seven people on the team not county myself. This podcast is doing really well Regarding our only segment on friday we actually have sex worker. Reach out to us by after listening the segment as i i knew they would And they are very awful about these issues. And obviously they're experiencing the firsthand. They shared an interesting perspective. Read itchy to now. I thank you for the effort. In trying to address sex workers respectfully there was a lot of nuance and key actors missed and misinformation which causes further harm to sex workers because of the attacks on adult platforms by legislation. Such as far as the cessna. Which i'm not aware of a doe platforms have had to enforce it insane. Level of security moderation. So let's explain. This fossa is fight on my sex trafficking act sas that is stop at able sectors act. Both bills were signed into law. By trump in two thousand eighteen they create an exception to section two thirty. Which is the law that allows you to be a common carrier. You're not responsible for what you users post like our facebook and twitter the not responsible if you say something uh slanders etc which holds a web publishers liable if there are found to be posting ads for prostitution on the platforms according to two thousand eighteen breakdown by fox foced assessed that was intended to protect sex workers online. But it seems like now. It's regulatory burden is forcing them to move. Offline which obviously is much more dangerous. Let's get back to this Sex workers the m. to our podcast handle twa startups content moderators on adult platforms. Is tighter than every other social media site. I believe that actually only fans requires. Id two to five seven and credit card to joint and it's behind a paywall unlike facebook or instagram who wait to take action. The report on the bbc are also incredibly flawed and pushed by the same groups. That's interesting Two to five seven is reporting requirement for legal sex workers that keeps record of their ages. This is intended to fight against child. Sex work Back to the dams is a full blown moral panic. That's being weaponized. Sex workers are literally dying because of these campaigns. I would think because they would be then going to work I are out in real life as opposed to digital which has obviously a lot more safety And comfort and ease than doing it in other a world which is really dangerous. regarding crypto particularly the us a lot of sex workers regardless of if they actually are working or not have lost their bank accounts pay pal closed accounts and seized funds. We don't have access to basic resources to utilize tripped up at not. Even speaking to the nightmare it is to implement crypto for micro transactions. So it's an interesting perspective you And i appreciate it. I think the point is that even with two to seven. And you know Driver's licenses and all that the people who are good actors are going to do all that and the bad actors are gonna be able to route around that and so how do they route around it. They could have one person who registered as a sex worker. And then you know. Have a person who looks in a similar Us that account etc is gonna be a lot of cat-and-mouse so while i appreciate the thoughts. Here I do think that it is. There is a lot of potential abuse here and we have to think about the geographical borders. So while i absolutely appreciate the sex workers opinion here About the moral panic. The fact is a child. Sex work is legal or not punished. in the same way it is here in the united states and other countries Or it's more acceptable. I'm not an expert on it. So i'd she don't know the exact was but you do have a global internet and i think when you add sex work to the global internet that can cause these unintended consequences. So we're probably in agreement on bat. I would think actually the sex worker Who deemed us would agree with that. The international being is a particularly challenging one and bad actors. I would be very interested in their perspective on those two So what is the solution Good actors in the sex worker community. I guess they have to do very intense. Kyc and i think they have to think about You know some concert verification and the fact that there are an international Nature to this but there are no easy. Answers is always going to be abuse systems and abuse of credit cards. You know leads to people. Losing money and abuse in this industry leads to child children sadly being abused and so the stakes are higher here. So of course the kyc should be much higher than with finance will agree to disagree on that And i don't think it's a moral panic. I i think it's more the nature of an international global system with a lot of bad actors in it and probably a little policing and the person who's running this platform might have a you know. They might have not the highest moral or ethics or ability to police it or they may not want to police it to the level they should And their past seems a little sketchy so it's complicated. Guess what will agree on.

Kay facebook fox bbc twitter united states
China Cracks Down on Big Tech

The Tech Guy

02:10 min | 4 months ago

China Cracks Down on Big Tech

"It was really interesting Here in the united states there's a lot of scrutiny over big tech the power that companies like google and facebook and amazon microsoft apple and twitter amassed You know i have a problem with it but You know you certainly. They certainly are powerful. He certainly are and You know maybe that's an issue the european union Thinks it's an issue so they're working on a lot a lot of different london for folks. what's interesting is of course the democracies it's a long drawn out process. Ftc investigates congress. Legislates there's a debate back and forth and nothing happens for a long time if ever that kind of thing. Meanwhile in china where the chinese communist party rules with an iron fist We don't have any of that debate discussion and they are cracking down on big tech and in some ways crack down a big tech in the ways that says some of our members of government would like to crackdown here. It's kind of interesting. It started Last year when The the company ant financial run by jack ma the founder of alibaba the amazon china cited do an initial public offering in the us in the us stock markets. China didn't like that. They cracked down the shutdown they Jack ma was a little Critical of the chinese regime saying you know they don't really allow us to be as capitalistic as we need to be the shut him down He disappeared for a while. reemerged But i don't think he's a china's richest man anymore and i don't think that and financial really is an you know they certainly didn't do their. Ipo now. They're cracking down on the uber of china. Dd actually cracking down on a lot of stuff. Ten cent why boko

Jack Ma Chinese Communist Party Amazon China European Union FTC United States Microsoft Apple Facebook Twitter Google Congress London Alibaba
Jack Ma's Ant Group to Restructure After Crackdown by China

WBUR Programming

00:42 sec | 8 months ago

Jack Ma's Ant Group to Restructure After Crackdown by China

"Of the country's tech giant and group will be restructured to become a financial holding company. Follows last year's sudden cancelation of its plans flotation on the stock market, Celia Hatton reports Last year Beijing dramatically halted and stock market listing, which was set to break global records. The government cited regulatory concerns about the firm. Although insiders also believe China's leaders felt threatened by ants out spoken founder Jack Ma. And now and is being overhauled and currently operates like a massive online payment and lending platform. But the authorities air compelling it to hold reserves, making it more like a traditional bank. Shares and Mr

Celia Hatton Jack Ma Beijing Government China
Alibaba Faces $2.8 Billion Fine From Chinese Regulators

Snap Judgment

00:39 sec | 8 months ago

Alibaba Faces $2.8 Billion Fine From Chinese Regulators

"Tech giant Alibaba's being fined $2.8 billion for what Beijing calls monopolistic behavior, NPR's Emily Fang says the fine comes is Chinese leaders reportedly are investigating how the company and its charismatic founder Became so powerful Alibaba's troubles really began after its founder, Jack Ma, I'll give a speech criticizing Chinese financial regulators from Muslim on Turner's like him. The I. P O of a second company of financial technology firm called Aunt Group was then abruptly canceled, and his executives called into meetings with regulators. Ma has now not been seen in the public eye since last October.

Alibaba Emily Fang Jack Ma NPR Beijing Aunt Group Turner MA
Alibaba Faces $2.8 Billion Fine From Chinese Regulators

Weekend Edition Saturday

00:39 sec | 8 months ago

Alibaba Faces $2.8 Billion Fine From Chinese Regulators

"Tech giant Alibaba has been slapped with a nearly $3 billion fine. Chinese regulators say the company has engaged in anticompetitive behavior. NPR's Emily Fang reports. The fine comes as Chinese leaders are reportedly investigating how Alibaba and its founder became so powerful Alibaba's troubles really began after its founder, Jack Ma, give a speech criticizing Chinese financial regulators from Muslim entrepreneurs like him. Hypo of a second company financial technology firm called Aunt Group was then abruptly canceled, and his executives called into meetings with regulators. Ma has now not been seen in the public eye since last October.

Alibaba Emily Fang Jack Ma NPR Aunt Group Hypo MA
China Finalizes Internet Antitrust Rules

WSJ Tech News Briefing

00:42 sec | 9 months ago

China Finalizes Internet Antitrust Rules

"China has been stepping up its antitrust enforcement and recent months even forcing the fintech giant and group to call off its planned. Ipo and restructure. its business. Now we report. They've turned their attention to another company affiliated with the billionaire. Jack ma alibaba. According to people familiar with the matter regulators are considering measures that could include a record fine over concerns about the ecommerce science alleged anticompetitive behaviour but officials familiar with the government's. Thinking say alibaba could get softer treatment than and group. Dead given the popularity among both chinese households and global investors china's antitrust regular didn't respond to requests for comment and representatives for alibaba. Declined to comment

Jack Ma Alibaba China Alibaba
Why China is Joining the Global Push to Regulate Big Tech

WSJ Tech News Briefing

08:24 min | 11 months ago

Why China is Joining the Global Push to Regulate Big Tech

"When it comes to regulating big tack europe has been taking an aggressive stance for a while now and as we talked about on the show. We've seen some action from the us as well but lately china has made moves to join in our reporter. Sam schechner joins me from paris. To talk about why china is getting involved now. What it's doing and what impact could be protect companies. Hey sam thanks for being here. Thanks for having me so before we get to china's action. I wanted to start by bringing us up to speed. European regulators have really been leading the charge when it comes to regulating tack. What have they been focusing on your right. That europe has really been at the leading edge. A lot of these these types of new rules europe's new privacy law the gdp our general data protection regulation was one of the first of the of a new class of transversal privacy laws. And that's actually been emulated in a number of parts of the world. Europe has also been among the first to initiate antitrust investigations into big companies including google and apple amazon and actually has issued decisions against google totaling more than nine billion dollars with fines in recent years and now europe is also helping lead the charge when it comes to coming up with new competition regulations. It's something that's been bubbling in academic circles for quite a while whether or not there's a handful of companies that are so big that they need their own special rules to make sure that they treat everyone fairly to make sure that companies have a chance to rise up and challenge them and the he us antitrust are also in charge of new digital regulation. Here margaret avesta your actually describe it with a metaphor to the automobile. She said that when cars were first invented it a new technology and after some period of time people realize that maybe we need traffic lights right and a lot of action clearly stemming from from that sort of mindset. We've also seen some action in the us as well right. There is indeed some momentum in the us four new competition rules you know given the political environment and some of the differences between democrats and republicans. It's not clear that there'll be an agreement that being said last summer. Democrats in the house. Judiciary committee released a report calling for changes to antitrust laws and creation of new types of obligations and republicans in their own report actually endorsed albeit a narrower set of changes but some areas of agreement such as requirements tech. Giant's make their services interoperable so there is the possibility that some types of legislation might see the light of day in the us dot. So that's sort of the lay of the land but china has also recently joined the push with some new proposals. What do they unveil well. That's right in. November china issued its first draft guidelines for how they want to regulate competitive behavior by digital giants and on paper the guidelines are actually very similar to some of the things that have come out in europe. The uk also has a set of regulations for big tech companies that the proposed and china's proposals include things like blocking companies from crunching consumer data in order to set discriminatory prices or at selling prices below cost to help gain market share. Some of the classic things that might be anti competitive more generally but that big companies are accused of doing and in potentially more difficult to identify with this. And i understand. China has a pretty short history with the sort of regulation. Why are they getting involved now. Well on one hand. China has one of the shortest histories of antitrust regulation of major global economies only adopted its anti-monopoly law in two thousand eight but more cynically. Some people have noted that this push began just slightly after an october speech from alibaba founder. Jack ma who publicly lashed out at the chinese government's tight financial regulations and following that there were a series of regulatory actions against elements of his internet empire. And so the question has been raised when you talk to. Experts is this chinese. Push about really trying to rein in big tech companies to preserve competition. Or is it about taking on people. Like mr ma who they think are challenging the power of the central government. And you know when you talk to when you talk to experts. They say that mon- speech may have been the trigger but that there have been longstanding concerns about increasing concentration among the chinese internet giants including including alibaba but also other companies to rate and since alibaba is one of china's biggest most powerful companies. Making jack ma. One of china's most powerful businessmen. This sort of illustrates broader difference between china and some of the other countries that we've talked about you know. China wants to exert a lot more control over attack and the internet then does the west could barrier in terms of getting different governments on the same page. Well that's a very good question you know we. We really don't know what the long term impacts are going to be of these rules. I mean for one thing. They haven't actually been applied yet. These are proposals and you're right that china's internet is largely dominated by its own set of companies not by global giants and chinese internet. Companies are much less present overseas. So you know it's it's a question. How much one regulatory system or the other will end up prevailing. There are certainly more countries in china's orbit that could end up adopting china's approach to internet regulation but in some cases in some senses that there's similar motivations behind what's going on. I mean whether you're trying to preserve state power for its own sake or because you want to make sure that there can be a new set of companies that come up to challenge. I mean those are still it boils down to saying certain companies have gotten too big and something needs to be done about them and so the more that those sorts of rules are being proposed. It certainly would count as momentum for them. And you know it's not a it's not a given that these things will be done so momentum is meaningful. i mean you. You have free market proponents. Who argue that. These types of proposals go too far that they would hobble digital markets and leave some people worse off so while there is a growing number of experts and competition regulators who say we might need rules like this they certainly aren't unopposed. So china's entry into the fray could potentially impact the course of the debate. Yeah and just to take further. What's the outlook for big tech. Now that china's join this push and how are the company is responding. Well i think big tech. Is these big tech. Giants are increasingly aware that they're going to be facing more regulation whether it's about privacy whether it's you know updates to tax rules whether it's about their obligations to other companies in terms of new competition regulations. It's just a fact of life. And so i think at this point. They're they're now down to figuring out how to make sure that these rules are ones that they can live with. You know when you talk to facebook they sort of are perhaps the most acquiescent saying that we acknowledge these types of rules must apply to us. Amazon and google say more that they would hope that rules that would be rules that apply to all companies not trying to focus on a few. But i think it's it's certainly fair to say that these companies are going to find themselves much more regulated and they have at the last couple decades have been a sort of open playing field for them. It seems likely that they're going to find their their field of action more limited. They may have time doing the same kinds of acquisitions that they had done before. Or certainly will face more scrutiny. Before they're able to complete them. Some regulations on the table could in the case of repeated non-compliance go as far as breakup. I think really the us would have to get more into the game for that to to truly be on the table. Indeed the ftc's suit against facebook last year did specifically talk about unwinding some of facebook's acquisitions

China Europe Jack Ma Sam Schechner Alibaba Margaret Avesta United States Chinese Government Google Mr Ma Judiciary Committee Amazon SAM Paris Giants Apple UK Facebook
Jack Ma, Alibaba's Co-Founder, Resurfaces After 3 Months of Lying Low

MarketFoolery

02:03 min | 11 months ago

Jack Ma, Alibaba's Co-Founder, Resurfaces After 3 Months of Lying Low

"Shares of alibaba are up more than five percent because company founder. Jack ma has made his first public appearance in three months. I should point out. This is not an appearance that he made out in public. This is a video filmed tied to an event. But look i think if you're an alibaba shareholder over the last few months wondering legitimately. Where's this guy ben. This if it were moving up dramatically more than that. I would think it was a little overblown a five percent. Tick up seems right to me. It does seem right to me too. And i can't we say not to be too draconian about this but aren't we glad that it's not a hostage video rhyming reasons. We're a number of reasons because we were starting to worry. That jack ma was like something horrible had happened here so he surfaced. It's i mean it really is just kind of a charity event. He's thanking teachers. It's nice it's just it's very kind of it's just a normal thing and it would be. It wouldn't even be news if it weren't for the fact that he'd been missing for three months and let's be clear. You know alibaba. This does not mean that. The scrutiny of alibaba goes away but he's the founder. The chinese government did not like what he had to say a few months ago right before he went underground. The chinese government has since said that they are going to pursue possibly some more strict regulatory oversight of alibaba and that could include breaking up different parts of the company at the very least they are taking some more strident action against ant financial. Which is the payments part of alibaba. So the the regulatory scrutiny doesn't go away but boy yeah. I sigh of relief to see jack. Ma is not completely out

Alibaba Jack Ma Chinese Government BEN Jack MA
Jack Ma, Alibaba's Co-Founder, Resurfaces After Months of Lying Low

Mike Gallagher

00:46 sec | 11 months ago

Jack Ma, Alibaba's Co-Founder, Resurfaces After Months of Lying Low

"China's highest profile entrepreneur has appeared in an online video is a parent's ending A 2.5 month absence from public view that prompted speculation about the future of the e commerce billionaire Jack Ma is the multi billionaire co founder of Alibaba, China and the world's biggest online retailer. He disappeared from public view after government regulators sensationally stopped a massive share issue. His finance company and group in the weeks before that, he'd provoked China's Communist Party authorities by saying they stifled innovation. He appeared by video link at an event for rural teacher's China has previously detained prominent executives here who's Cos it believes could pose a threat to stability. That's the

Jack Ma China Alibaba Communist Party
"jack ma" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:06 min | 11 months ago

"jack ma" Discussed on Bloomberg Radio New York

"On administrating right alongside You. It whimpered the 10 year government bond market. Yes. The edict from Ms Yellen is to go bigger. Go home, but the 10 year government bonds Yusef burly blipped. Is that a sentiment that she's done the right job. She's done a good job. In other words, no huge market dislocation arrived. The pathway of markets, JP Morgan say, Get ready for 2% on the bond yields. The 10 year. You is the most vulnerable to a pullback in asset purchases on sit here, warning that there's low volatility regime that were in it. The moment could pop and roll. Now look at the gold market up a half of 1% is the symphony playing for gold. If J p m. We're talking 2% Goldman Sachs are saying a full blown reflation narrative is in place. On Janet Yellen did not reaffirm a strong dollar policy. Is that a symphony for gold that word symphony I love the word Symphony. But she did commit to a market determined exchange rate. But as the markets life, he points out dollar fate may hinge on whether Yellen spite matches her park. It takes two to tango. We're just Margie lower on the Bloomberg dollar index there. Then, in terms of stock futures. We are just barely about the flat line here. Just cutting back over the last hour or so, you've got Peter Oppenheimer weighing in saying that you know what the market is rising on good news. But choosing to largely ignore weaker data and rising infection rates the razor risk of a correction, but without a bear market inflection, so by own weaknesses, what they're recommending. By the dip. Let's check in on the Asian markets. Juliette sorry. Let's see what you can fit into his. He had bite and bark two to tango will see you and raise you from Dubai. Good morning, Jules. I like symphony as well. Man is good morning milk. We're seeing Asian stocks still holding at these records off for a second session up by about 2/10 of 1% with a lot of the take players really lifting the index today We've been watching what's happening in Hong Kong yesterday that very strong movement into H shares, propelling the hang saying to these may 2019 hires and it is still there. A stronger yen, though, is weighing on the Nikkei 2 to 5 while you've got Australian stocks and 11 Man ties on the Cosby just retreating a little is we see foreigners sell out of that index. So we are those seeing. The Korean won actually gaining for a second session, and we want to check in on Alibaba shares as well because his use of broke last hour We have seen Jack Ma re servicing after months of speculation about where he could be his appeared on a video here, according to that has been released. I should say by China's Global Times, which has tweeted this video, saying that it was actually Taken today. January 20th Alabama founder Jack Ma, the English teacher turned entrepreneur, meeting with 100 rural teachers from across the country via video link, and you're seeing Alibaba shares. They're extending their gains up by about 2.3% heading into the lunch break. So obviously finally a little bit of clarity about her where Jack Martin may have Bean Yusef. Yeah, just a little bit fascinating Images that we're getting there. Thanks. Jules will touch base with you later again. Let's also get you the first word that lines from around the world, starting off with Double corona virus cases..

Bean Yusef Peter Oppenheimer Janet Yellen JP Morgan Jack Ma Jules Alibaba Ms Yellen Goldman Sachs Jack Martin Hong Kong Yellen Margie China Dubai Juliette Global Times Bloomberg Nikkei Cosby
Alibaba's Jack Ma Resurfaces After Months of Lying Low

BTV Simulcast

01:00 min | 11 months ago

Alibaba's Jack Ma Resurfaces After Months of Lying Low

"Watching what's happening in Hong Kong yesterday that very strong movement into H shares, propelling the hang saying to these may 2019 hires and it is still there. A stronger yen, though, is weighing on the Nikkei 2 to 5 while you've got Australian stocks and 11 Man ties on the Cosby just retreating a little is we see foreigners sell out of that index. So we are those seeing. The Korean won actually gaining for a second session, and we want to check in on Alibaba shares as well because his use of broke last hour We have seen Jack Ma re servicing after months of speculation about where he could be his appeared on a video here, according to that has been released. I should say by China's Global Times, which has tweeted this video, saying that it was actually Taken today. January 20th Alabama founder Jack Ma, the English teacher turned entrepreneur, meeting with 100 rural teachers from across the country via video link, and you're seeing Alibaba shares. They're extending their gains up by about 2.3% heading into the lunch break. So obviously finally a little bit of clarity about her where Jack Martin may have Bean

Jack Ma Alibaba Cosby Hong Kong Global Times China Alabama Jack Martin
"jack ma" Discussed on 77WABC Radio

77WABC Radio

07:39 min | 11 months ago

"jack ma" Discussed on 77WABC Radio

"Hong Kong police arrested 53 people 53 in a swoop on pro democracy activists, Hong Kong people's rights and freedoms according to the law are not affected, Foreign Ministry spokesman spokeswoman told a regular news briefing. Hong Kong, police said On Wednesday. 53 people were arrested on pro democracy pro democracy activists that involved about 1000 national security officers. The biggest crackdown yet On Chinese ruled cities Opposition Camp Gordon This is a story that continues theorem and persecution people who participated in massive demonstrations. In favor of Hong Kong and against the PRC's violation of its own promises of 20 years earlier, more than 20 years earlier in the hand over from the United Kingdom to China, that That the Hong Kong people's would be treated as a separate and that they would not be persecuted and they could have their own legal system. Well, those arrest apparently we're not the end of it the year now. 53 Gordon, it If the logic is in place here, they could wind up arresting several million people because that's how many people were. We participated in those protests. So what is your measure? Is this failure, Gordon or is this of something to be determined? Well, I think it's something to be different. But I don't think that China has adopted the strategy which is going to be best for it. As you point out, John, at least 53 people have been arrested on this started Wednesday morning. There is some thought that maybe a few more work and I actually agree with you that people who were arrested were not intimidated. What has started to occur, John and this is going to be extremely significant for Beijing is that people in the business community are opposed to these arrests, and they're starting to speak out. You'd expect the business community be quiet about this, but I think there's a feeling that they could be next, you know, And this is in conjunction also with Jack MMA, the driving force behind Ali Baba and and group And so people are starting to worry that Beijing is going to use its course of powers. Not just against dissidents, quote unquote, but against everybody. Well, let me add that there is Evidence. And there are reports that Jack Ma is in some kind of detention on the mainland House arrest something like it and that he's concerned for his safety. That he has lots of private security. But this is the richest one of the richest men in the solar system may be the richest in solar system. Can't tell Ali Baba has mentee many tentacles. And the arrest or detention or intimidation is a product of the Central Committee. Seeing that Jack Ma has better data than it does. That the Central Committee sees that the social media platforms in the United States where there is rule of law have very good information and that the U. S. Congress Is eyes challenge to do in some way. Ah, corral that information when it's used in partisan fashion. So the Central Committee I'm told has decided that well, listen, maybe Jack Ma didn't mean To be more powerful than we are, but that's where he's headed. So we're going to make a new deal. New BUSINESS deal Now that's a rumor court is all rumor. But it it tells me that Shi Jin ping, with his old Communist party all power in the hands of the party and I am the president for life. Has other recognized that it's not working or is freshly threatened by commercial enterprise. Jack Ma is just a piece of the larger story of China Incorporated, which is global. And has created lots of power centers like Jack Ma. Maybe they're not the richest men in the universe, but they're well to do and many of them have the ability to move their money overseas. So Does this connect with Hong Kong? It zah way of talking about how she allowed the genie out of the bottle, and now he's threatened by the genie. Yeah, There are a lot of things that connect these stories, and I think one of the most important is just time. These are occurring at the same time. They're occurring at the time when we're seeing as we talked about what Charles Burton about the Chinese military taking over civilian powers, Um all of it. We don't know exactly what's going on in top Communist party circles and vegging. We may not even have a good idea. But what we do know is that all of these things are occurring simultaneously. And that means something is up. And I agree with you that at least with regard to Jack Ma. This is very defensive on the part of the Communist Party. This is where they're just back on their heels. Now with the protesters in Hong Kong, I think that Beijing believes it has the upper hand. But as our friend Michael Yon has always been saying, this is an insurgency and insurgencies could melt away, but they come back. And I think that we're going to see Hong Kong society come back and give Si Jin Ping a very difficult time and the irony Gordon and it's the old novelists and may Now got his start in protests that are not too similar to what we're seeing now pro testing for people's dignity in in China following the verse I treaty ignoring China's dignity and cutting it up like it was a leftover pie. That's where Mao started is my memory of the Communist Party, and that's where the Communist Party gains strength because it had links to another power That would be the Soviet Union that claimed at the time and asserted at the time. That it was going to rescue people from being marginalized by the royalty by the dictatorship by the central powers of the time these air the empires of 100 years ago, That's where Mao got his start now. Gordon. The Chinese Communist Party is not made up of stupid people. They can read history or are they in denial that what's happening to them is what they did to The to the Republic what they did to the remains of the first side treaty makers in 19 twenties. Yeah, Clearly, the Communist Party is worried about the May 4th movement. This was made for it 1919, as you say, right after the Perseid Treaty where China was treated badly. And this led to years later to the formation of the Communist Party. Um, I think that Communist party cadres and officials and leaders on do read history. I think that they believe that they need to control history. And they're having a really bad time of it right now because they're dealing with forces that are zealous, zealous like the Communist Party once was in the 19 twenties, but which is not now. Now it's become sort of establishment party extremely corrupt, held together by cores and On. They realize that they don't have that same spirit that its founders did. So this is a This is a existential threat to communism in China and the sea Jumping understands that Gordon. Will these arrests continue? And will they grow into the thousands? What is your expectation for 2021? We have about a minute. Hong Kong Police have said that there could very well be more addressed as they further investigate a number of things which they identified..

Chinese Communist Party Jack Ma Hong Kong Gordon China Central Committee Ali Baba Beijing John Jack MMA PRC China Incorporated United Kingdom Michael Yon Shi Jin Mao
Alibaba founder Jack Ma is lying low for the time being, but he's not missing

Snacks Daily

03:20 min | 11 months ago

Alibaba founder Jack Ma is lying low for the time being, but he's not missing

"Stock just jumped five percent yesterday on word. Their ceo is not dead. Wow this year. The huge fundamental difference of doing business in china versus the united states. All right so jacqueline. You're talking here about the other jack jack. Ma former teacher present billionaire current location. Jack of jack ma. The former english teacher jack ma. He is a hard worker seventeen miles a day on a bike uphill to learn english. Both ways he also applied for job at kfc twenty three other people and he was the only one who didn't get the job. So what we're saying is jack. Ma falls off his bike. He gets back on the bike and then he founded alibaba twenty one years ago and that became the amazon of china. Now we mentioned jack mas hard working he actually evangelize is the nine nine six workweek which is nine. Am tonight pm. Six days a week for a total of seventy two hours and sounds absolutely awful opposite of the four day workweek way. Bigger the four day workweek knackers today. You could argue. That alibaba is more innovative. Then america's amazon. Yeah it's basically it's google. It's amazon it's fedex. It's pay pal all that rolled into one with a nice bow on an app alibaba stock however is down thirty percents since october on some really bizarre and kind of scary news all right. So this one's kind of strange. It all started back in october. When ant financial a different company the pay pal of china was prepping for the biggest. Ipo effort alibaba under the leadership of jack ma. They invested early in aunt group because they saw the need for digital payments in the ecommerce future so alibaba owned thirty percent of aunt. So anti peo- was going to be a big payday for alibaba. therefore jack ma. that's because aunt has one billion customers. They offer every financial service imaginable. He has eight. It's pretty much like the pizza hut buffet for fintechs picture. The little kale in between all the cottage is when jack ma made a fatal mistake he criticized. The chinese. Government does knackers in the us. You perfectly are allowed to criticize the government. Actually do it all the time. Even though you're not a huge fan of the damage that's okay not everyone's a fan of the dam and you're allowed to complain about the dmv because you are protected by the first amendment of the constitution freedom of speech though not a write in china. That's why it was a big deal in october. When jack ma at a conference during a speech criticized chinese regulators for stifling tech innovation with outdated regulation get this is the result the ant. Ipo that huge biggest ipo ever. It was blocked by authorities. And they called in jack ma for questioning they wanted to make an example of him speaking out against china so they actually ordered group to return to their payment origins. Because of what. Jack ma set and jack ma hasn't been seen in public since then and for good measure. The chinese government decided to launch an antitrust investigation against alibaba. After jack ma said what he said. Oh it's drop alibaba stock mar- oh and by the way w just told cnbc. Jack ma is alive. He's just laying low right now keeping a low profile. We're glad to hear that he's alive. But it's a little strange for a stock to jump because he's alive fleet

Jack Ma Alibaba Jack Of Jack Ma China Jack Mas Amazon MA Jack Jack Jacqueline United States KFC Fedex Jack Google Chinese Government Cnbc
"jack ma" Discussed on Squawk Pod

Squawk Pod

09:17 min | 11 months ago

"jack ma" Discussed on Squawk Pod

"Development between chinese companies in the. Us is only part of the larger tech story in china. Late in two thousand twenty. China joined the us in europe in a global big tech reckoning when it released series of proposals to rein in the chinese fintech sector new rules on how online leaders could operate and the government increased scrutiny on players like ten cents at jd dot com in an effort to curb anti competitive behaviour. Then china effectively blocked would become the largest ipo ever. A public listing. The chinese fintech aunt group shortly thereafter china's markets regulator opened antitrust probe into e commerce giant alibaba aunt groups largest shareholder and one of the most valuable tech firms in the world amid all this chinese officials had met jack. Ma co founder of ant group and co founder and former chairman of alibaba. He's still one of companies largest shareholders. He's china's biggest business. Celebrity enriches tech tycoon. He's regarded globally as a symbol of china's success up until recently he was a pretty visible character. Even starring as a judge on a popular reality show. But jack ma hasn't been seen publicly two months. We're all starting to wonder where he's gone back in october. A financial forum in shanghai mom spoke out against chinese regulators claiming they're conservative approach hindering innovation. He envisions a different financial system for china. Global onlookers are growing more and more concerned at the chinese communist party would rather those visions remain unrealised. Here's becky quick. joining us. Right now is leeland. Miller china beige book international. Ceo and leland. Obviously it's just speculation at this point but it does come after. Some clearly heightened tensions between jack ma alibaba and chinese regulators. Yeah i mean the question right now is whether jack is is managing a very low profile for his own good or whether he's been brought in a dark room in his having new terms of alibaba dictate to him. A nobody knows nobody will know until till the government comes out with a statement <hes>. I think right now you know. Jack is sort of muttering himself. Oops and it's oops on some of the things he's done in recent months in terms of antagonizing government regulators but this is something that the alibaba ecosystem has been something that has been antagonizing state banks and the state run financial system for years and years. So it's it's not altogether surprising that he's he's become under more pressure right now and he has a target on his back now that he's been completely vulnerable. You're not talking about the retail side of alibaba. You're talking about the financial side what they've been doing. And why don't you explain that a little bit to people why it's such a threat to the chinese banking system. This is a point that <hes>. That i've made years ago when alibaba. Cbs's guest commentator for the alibaba ipo in two thousand fourteen and everyone was talking about spectacular. This company is and it's true. It's spectacular innovative companies. But the is alibaba's not one company. It's actually two companies <hes>. It is a retail firm. Which is a chinese national champion. I think that's what people think of when eight when they think of alibaba most of the time. But it's also a giant financial firm and it has been innovating behind the scenes of chinese finance for years whether it's <hes> on my mutual funds whether it's e payments these are systems that have been beating the tar out of the state banking system. Alibaba for yle was allowed through you. It's it's mutual fund to to offer these very very high rates where the state banking system couldn't and over time china beige book. You can see that. There's been migration deposit flight from the state banks over the alibaba system. So jack has got an enormous number of people who really dislike him inside the chinese banking system and this is a problem that happens in beijing step in and they'd regulate the alibaba are force them to bring the rates down but this has been a tension not for months but for years. So so this is this. Is jack finding himself. Boehner and having lot of enemies on the inside leland. Just in terms of of what that means for the chinese population. I mean it's it's a good thing. It's it's helped so many people in china who wouldn't have been able to get loans otherwise wouldn't have been able to do some of those things so i have a hard time thinking that that in itself has been the biggest problem or why the communist party might down on him <hes>. But you know some of the things that he said very recently have been incredibly antagonistic. Just in terms of things you're not allowed to say in china that he said right in one rule is you don't antagonize the chinese communist party and expect good things to happen but but look wall. What alibaba has been doing been innovative. It's been good for chinese consumers and households and the chinese economy keep in mind the vested interests that are affected by this. You have these technocrats. Bureaucrats have the bankers who have watched their their fiefdom less and less important over time. and so even. If this is good for china writ large. This is a real question. Mark to where the banking system falls in this new world order now. If jack had his way he was sweep the banking system aside and replace it so it may be good for china. But it's not good for a lot of party. People who are in the top of the power chain which means that jack better tread carefully at this point. It's raised a lot of questions about what this means for international companies trying to do business in china whether they be tech companies or something else but we also have at the same time the nyse announcing that it is not going to move forward with its plans to deliver those three. Chinese companies says it did this after having discussions with regulators. But you've got to think it's it's got more to do with who's going to be in the oval office come january twentieth a biden administration versus a trump administration. What what does the setup for just in terms of the us relationship with china. Yeah look i don't think biden particularly wants to touch this issue so he's keeping his hands off it but this is really about inattention by the trump team. I mean they put a rule in place and they sort of went off and pay no attention. You know certain certain agencies like treasury behind the scenes hoping to weaken this. And and that's what they did and so if you don't if you put out a bunch of rules and then you don't fall through on them. You're going to have a lot of questions over how they should be interpreted and at this point. They're so little clarity on what the administration was asking for. And what the executive orders called for and and what executive orders in the pipeline. That these <hes>. That nyse in and a bunch of other financial entities basically said. We don't understand what's going on here and we're not going to implement them and they got soft backing behind the scenes from treasury not to implement them and so here you are. Everything is sort of falling apart in terms of some of these latest trump moves in the last days of the trump administration. Bring them back to what investors might be looking for. Is this a situation. Where manufacturing companies anybody. Who's making things that they're selling <hes>. Either from china or to china. How is this going to play out. You have any ideas. I think that the biden administration has come in with severe restraints in terms of what they can do. They want to use political chits. They have on domestic issues. They they know that biden has had years and years and years of being called week on china when he was vice president. And so they're not gonna be able to do any heavy lifting on the china side particularly in the early days. So i think that from this standpoint biden wants to sort of he won't be able to pointing back he doesn't want to do a whole lot. And so you know you're going to be on a glide path at least until he gets both staff in you know three to six months from now but in terms of investment with china. This really has to play out. The chinese are certainly gonna come in and try to have a honeymoon. Period with a biden administration promising kinds of climate goodies. The question is who are going. To policymakers. That are gonna be in charge of china policy for for for the biden administration. And are they going to have authority within his realm in order to push back congress for certainly be at their backs but but this is some this issues. These china issues. That i think biden would like to ignore for as long as possible in his first six months. There are a lot of china hawks in congress. That would probably make that pretty difficult to ask. What what should we be watching. What are the key points or the key events. A lot of it has to whether whether cova continues to to suck all the oxygen out of the room you know code will be will be issue number one. But you're right on congress you're gonna you know you have some very fire. Republicans you also some fire. Democrats who who are who are who are quite animated on the china issue. There's a bipartisan agreement. Right now that china needs to be dealt with rather rather tough fashion. So i think that you're going to have a lot of pressure from congress. Which is why i think biden wants to have nothing to do with it. He's gonna let some a lot of some of the trump stuff glide he's gonna want to avoid the issue as much as possible. It's going to become harder and harder. As the beijing olympics comes into sight year and a half from now <hes>. There is going to be a lot of push both domestically internationally to boycott the olympics <hes>. A year plus from now and this is going to become extremely hot topic not yet but later this year and so i think he's got a pass for at least a few months but later this year. I think it's going to get a lot lot lot tougher on the environment on china again. I can't believe the olympics in beijing are only a year and a half or so away. A leland it's good to talk to you. We will see him

china alibaba Katie kramer Miller jack blackstone green jp morgan berkshire amazon healthcare venture jamie diamond Kernan andrew ross sorkin hong kong yoon leland office of foreign assets us treasury nyse jack foreign ministry becky biden administration
What happened To Jack Ma

Squawk Pod

09:17 min | 11 months ago

What happened To Jack Ma

"Development between chinese companies in the. Us is only part of the larger tech story in china. Late in two thousand twenty. China joined the us in europe in a global big tech reckoning when it released series of proposals to rein in the chinese fintech sector new rules on how online leaders could operate and the government increased scrutiny on players like ten cents at jd dot com in an effort to curb anti competitive behaviour. Then china effectively blocked would become the largest ipo ever. A public listing. The chinese fintech aunt group shortly thereafter china's markets regulator opened antitrust probe into e commerce giant alibaba aunt groups largest shareholder and one of the most valuable tech firms in the world amid all this chinese officials had met jack. Ma co founder of ant group and co founder and former chairman of alibaba. He's still one of companies largest shareholders. He's china's biggest business. Celebrity enriches tech tycoon. He's regarded globally as a symbol of china's success up until recently he was a pretty visible character. Even starring as a judge on a popular reality show. But jack ma hasn't been seen publicly two months. We're all starting to wonder where he's gone back in october. A financial forum in shanghai mom spoke out against chinese regulators claiming they're conservative approach hindering innovation. He envisions a different financial system for china. Global onlookers are growing more and more concerned at the chinese communist party would rather those visions remain unrealised. Here's becky quick. joining us. Right now is leeland. Miller china beige book international. Ceo and leland. Obviously it's just speculation at this point but it does come after. Some clearly heightened tensions between jack ma alibaba and chinese regulators. Yeah i mean the question right now is whether jack is is managing a very low profile for his own good or whether he's been brought in a dark room in his having new terms of alibaba dictate to him. A nobody knows nobody will know until till the government comes out with a statement I think right now you know. Jack is sort of muttering himself. Oops and it's oops on some of the things he's done in recent months in terms of antagonizing government regulators but this is something that the alibaba ecosystem has been something that has been antagonizing state banks and the state run financial system for years and years. So it's it's not altogether surprising that he's he's become under more pressure right now and he has a target on his back now that he's been completely vulnerable. You're not talking about the retail side of alibaba. You're talking about the financial side what they've been doing. And why don't you explain that a little bit to people why it's such a threat to the chinese banking system. This is a point that That i've made years ago when alibaba. Cbs's guest commentator for the alibaba ipo in two thousand fourteen and everyone was talking about spectacular. This company is and it's true. It's spectacular innovative companies. But the is alibaba's not one company. It's actually two companies It is a retail firm. Which is a chinese national champion. I think that's what people think of when eight when they think of alibaba most of the time. But it's also a giant financial firm and it has been innovating behind the scenes of chinese finance for years whether it's on my mutual funds whether it's e payments these are systems that have been beating the tar out of the state banking system. Alibaba for yle was allowed through you. It's it's mutual fund to to offer these very very high rates where the state banking system couldn't and over time china beige book. You can see that. There's been migration deposit flight from the state banks over the alibaba system. So jack has got an enormous number of people who really dislike him inside the chinese banking system and this is a problem that happens in beijing step in and they'd regulate the alibaba are force them to bring the rates down but this has been a tension not for months but for years. So so this is this. Is jack finding himself. Boehner and having lot of enemies on the inside leland. Just in terms of of what that means for the chinese population. I mean it's it's a good thing. It's it's helped so many people in china who wouldn't have been able to get loans otherwise wouldn't have been able to do some of those things so i have a hard time thinking that that in itself has been the biggest problem or why the communist party might down on him But you know some of the things that he said very recently have been incredibly antagonistic. Just in terms of things you're not allowed to say in china that he said right in one rule is you don't antagonize the chinese communist party and expect good things to happen but but look wall. What alibaba has been doing been innovative. It's been good for chinese consumers and households and the chinese economy keep in mind the vested interests that are affected by this. You have these technocrats. Bureaucrats have the bankers who have watched their their fiefdom less and less important over time. and so even. If this is good for china writ large. This is a real question. Mark to where the banking system falls in this new world order now. If jack had his way he was sweep the banking system aside and replace it so it may be good for china. But it's not good for a lot of party. People who are in the top of the power chain which means that jack better tread carefully at this point. It's raised a lot of questions about what this means for international companies trying to do business in china whether they be tech companies or something else but we also have at the same time the nyse announcing that it is not going to move forward with its plans to deliver those three. Chinese companies says it did this after having discussions with regulators. But you've got to think it's it's got more to do with who's going to be in the oval office come january twentieth a biden administration versus a trump administration. What what does the setup for just in terms of the us relationship with china. Yeah look i don't think biden particularly wants to touch this issue so he's keeping his hands off it but this is really about inattention by the trump team. I mean they put a rule in place and they sort of went off and pay no attention. You know certain certain agencies like treasury behind the scenes hoping to weaken this. And and that's what they did and so if you don't if you put out a bunch of rules and then you don't fall through on them. You're going to have a lot of questions over how they should be interpreted and at this point. They're so little clarity on what the administration was asking for. And what the executive orders called for and and what executive orders in the pipeline. That these That nyse in and a bunch of other financial entities basically said. We don't understand what's going on here and we're not going to implement them and they got soft backing behind the scenes from treasury not to implement them and so here you are. Everything is sort of falling apart in terms of some of these latest trump moves in the last days of the trump administration. Bring them back to what investors might be looking for. Is this a situation. Where manufacturing companies anybody. Who's making things that they're selling Either from china or to china. How is this going to play out. You have any ideas. I think that the biden administration has come in with severe restraints in terms of what they can do. They want to use political chits. They have on domestic issues. They they know that biden has had years and years and years of being called week on china when he was vice president. And so they're not gonna be able to do any heavy lifting on the china side particularly in the early days. So i think that from this standpoint biden wants to sort of he won't be able to pointing back he doesn't want to do a whole lot. And so you know you're going to be on a glide path at least until he gets both staff in you know three to six months from now but in terms of investment with china. This really has to play out. The chinese are certainly gonna come in and try to have a honeymoon. Period with a biden administration promising kinds of climate goodies. The question is who are going. To policymakers. That are gonna be in charge of china policy for for for the biden administration. And are they going to have authority within his realm in order to push back congress for certainly be at their backs but but this is some this issues. These china issues. That i think biden would like to ignore for as long as possible in his first six months. There are a lot of china hawks in congress. That would probably make that pretty difficult to ask. What what should we be watching. What are the key points or the key events. A lot of it has to whether whether cova continues to to suck all the oxygen out of the room you know code will be will be issue number one. But you're right on congress you're gonna you know you have some very fire. Republicans you also some fire. Democrats who who are who are who are quite animated on the china issue. There's a bipartisan agreement. Right now that china needs to be dealt with rather rather tough fashion. So i think that you're going to have a lot of pressure from congress. Which is why i think biden wants to have nothing to do with it. He's gonna let some a lot of some of the trump stuff glide he's gonna want to avoid the issue as much as possible. It's going to become harder and harder. As the beijing olympics comes into sight year and a half from now There is going to be a lot of push both domestically internationally to boycott the olympics A year plus from now and this is going to become extremely hot topic not yet but later this year and so i think he's got a pass for at least a few months but later this year. I think it's going to get a lot lot lot tougher on the environment on china again. I can't believe the olympics in beijing are only a year and a half or so away. A leland it's good to talk to you. We will see him

Alibaba China Chinese Communist Party Jack Biden Administration Ma Co Ant Group And Co Jack Ma Leeland Jack Ma Alibaba Leland Biden United States Becky Shanghai Nyse Boehner Miller Europe
"jack ma" Discussed on WIBC 93.1FM

WIBC 93.1FM

05:48 min | 11 months ago

"jack ma" Discussed on WIBC 93.1FM

"Right there. Tony Katz 93 wi D. C Good morning. It's good to be with you, the U. K. Announcing more lockdowns, the new strain of coronavirus now found in New York, by the way, so get ready for that. And what other states do? They're gonna lock down for another month. This is the third block at Lockdowns don't work. Film at 11. I mean, it is that simple. That should be the ad lockdowns. Don't work happy to help, but they're going to do it over a Google. Something to watch. I want to take a look at it from a stock price perspective on Take a look at it from a Um Development and research perspective, Google employees formed a union The alphabet Workers union off. It is the company that created that owns Google and YouTube. Kind of space them all out. Um They're 120,000. Employees from Google. There's only 200 of them so far in the union. But it might grow. We will see what this union does, and whether or not Google can handle the idea of a union place in pressure upon them. And what will this union advocate for? Better hours. More free food in the cafeteria. You know that Google employees don't pay for food. It's all there. It's all there they bring in chefs 24 7. There is food, non stop. By the way. I'm not sure. But we're going to find out soon enough. The New York Stock Exchange is going to de list three Chinese telecom companies. Because of an executive order that prohibits US investment firms linked to the Chinese military. Bravo. Another good bit of legacy from President Trump. All right. That was gratuitous, but it felt good. China is the enemy. The people who don't know this are the ones not paying attention. That much is for sure. The Georgia run off Is happening today. Can't tell you where it goes. I will dig into it. But there is a story going back to China. That is Well, China is now going to have to answer the question because this is now getting to a fevered pitch. Jack Ma is missing. Now when I see missing I mean, he hasn't been seen publicly and more than two months who is Jack Ma? He is the billionaire who supposedly owns Ali Baba. Alibaba is the Chinese Amazon. Right? Um, there has been investigations from Chinese regulators into Alibaba. Nancy Trust. There has been the idea that maybe Jack Ma, um, has been a little too public with his disagreement with regulators. And if there's one thing that communists hate, it's when you disagree with them. Jack Ma doesn't own Alabama. The Communist Party owns Ali Baba. The Communist Party owns Wal Away and ZTE. The Communist Party owns everything that any Chinese national owns. Which is why, In addition to President Trump's executive order regarding US investments in firms linked to the Chinese military, no Chinese national should be allowed to own property in the United States. Now I could say that a different way. And maybe a better way. No. One Who lives in a country that is run by Communists. Can own property in the United States of any kind. Real estate businesses. What have you Think of it as the travel ban right? Certainly it was never a Muslim travel ban that was always just wordplay, mythology garbage, but rather if you're a nation that supports terrorism. You don't get to come into the country. Well, if your nation with supports communism, you don't get to come into the country. Sorry, Vietnam. Hey, we'd love to do business with you, but the way we've seen where this goes and look, we tried to help. But you know, there were some people who just didn't want to finish the job. And so you got you gotta win. Congratulations on you, But now you just got to do without us. Best of luck. No, we're us. Oh, no, no, no, It's okay. It's okay. We're not gonna take the desk from you were gonna trade with India. Oh, wait till you see what the subcontinent does. Woohoo on believer and the investment gonna make? No, no. The drugs we're gonna take back from China were gonna make it right here in the Midwest of only one Midwest governor would get up off their duffs and try and make that happen. But we're gonna move a lot of manufacturing out of China. In India. We're gonna move it out from you as well. Because you just can't work with Communist nations. Communism is and pathetic, all to the human experience, So we simply just have to. We just have to Go away with it. That's all there is. The tolerance Hey, nothing personal, right? All right. All right. You guys be good. No, no, no. You're winners. Your winners here, you big, tough guys that that's that's what you are. That's That takes willpower and leadership. T make that maneuver, by the way, something we certainly won't have under Joe Biden. But that Jack Ma is missing. Always remember. This is China. Rational people don't trust Communists. That said rational people. I'm Tony Katz. While 2020 through many of our resolutions.

Jack Ma Google China US Tony Katz Communist Party Ali Baba President Trump New York Alibaba Lockdowns India Um Development Joe Biden ZTE Vietnam Nancy Trust
"jack ma" Discussed on WMAL 630AM

WMAL 630AM

07:50 min | 11 months ago

"jack ma" Discussed on WMAL 630AM

"One hour we're joined by Joe diGenova. He's gonna lay out the upcoming electoral college vote in Congress on Wednesday at 7 35 Trevor matter Tree caps this weekend's game against the Eagles and where the Washington football team will go from here. At 805 Rich Anderson, with the Republican Party of Virginia will give us a preview of what is going to be a very busy 2021 in Virginia. Politics 8 35. It's Susan Ferruccio, What's ahead for Congress this week, and it's a lot. I'm Mary Walter here. It's been Scotty's good morning. Good morning to you, China. Is absolutely salivating at the opportunity to work with one Joseph Robinette Biden. They're super excited that Joe Biden Set to come in the office at the end of January. They're looking forward to a return on investment for all the Hunter Biden work they have released. They've made some statements of late where they're talking about that This is going to be a complete change. When it comes to his relationship with the United States. They're calling it a new window of hope. In fact, this is China's Foreign minister, Wang Ye. Did an interview with one of those state controlled TV outlets in China called C G. T N and he said, this quote China US relationship relations have come to a new crossroads. And a new window of hope is opening. We hope that the next U. S administration will return to a sensible approach resumed dialogue with China restore normal normalcy to the bilateral relations and restart cooperation. They are so excited Mary that Joe Biden is coming to town. We'll come on when you make a great investment. Don't you get excited about it? I've made a really good investment in the by and family. They took time They culture that they hung on during the day when the market was low, you know, and look at that. It's all paying off of them. Finally. Yeah. Yeah. And of course, they're right about Joe. They've assessed him correctly. It didn't take much to do that. He didn't need many experts to figure it out that Joe Biden has spent his entire career. Sucking up to China in meaningful ways in ways that have resulted in the absolute decimation of American jobs, the extent to which they welcome China into the World Trade Organization. And helped ship American jobs overseas. Joe Biden has been in the pocket of his wealthy corporate donors who benefited from massive Chinese contracts. So all signs point to count toweling to China. Underway by the administration and China is expecting that very thing. They're excited at the prospect of it now. Um, Meanwhile, what's actually going on in China right now? Well, we we've given you so many updates everything from the from slavery to the destruction of democracy in Hong Kong, But the latest story is a headline that is absolutely wild this morning now. This is out of Yahoo news. There's a Chinese billionaire by the name of Jack Ma. You may have heard his name before Jack is the 20th richest person on the planet. According to the Forbes ranking that tracks all of this, the 20th richest person on the planet he runs that organization Ali Baba Alibaba is basically the equivalent of Amazon in China. On Dean fact, if you know, feel like if you wanted to buy some Shockey's online or something if you wanted to produce like 6000 t shirts that say whatever you want on them right now. You could contact Alibaba and they would they would create them for you at this cut rate that have Chinese probably slaves, Chinese workers making all these products for you and shipping them into the United States. And then you could, you know, Sell them here, right? Um so Ali Baba Has been making a ton of money, especially over the last few years, and Jack Ma runs it. So Jack Mom made a mistake this year. Jack Ma's mistake was in October on the 24th of October, He gave a speech in Shanghai, and he criticized Chyna's regulatory system. For stifling innovation and said that the global banking rules are like to quote old People's club, he said. Today's financial system is the legacy of the industrial age. In the speech, he said. We must set up a new one for the next generation and young people. We must reform the current system. Now this I'm reading from Yahoo finance. But apparently the speech was direct enough when it came to China's regulatory system that it was construed as being critical of the Chinese government in the way that is regulatory system existed. Oh, Yeah. Oh, Jack. Ma has not been seen in public in two months. Now. What does that mean? We don't know. We don't know Jack might be laying low right now Or he may have been disappeared, which would be Pretty extraordinary. He's one of China's most famous people. On and China's been rather proud teacher. His success as one of many Chinese billionaires that have been created, um But Jack Ma has not been seen in public in two months. This would be the equivalent of a mark Zuckerberg just disappearing. It's a huge deal. He's probably just being re educated. They probably sent him to camp for a couple of months. That's all. There's all sorts of reasons why you would have expected him to have been public by the way in these two months. One of them is that he was a part of a reality show in Africa. Called Africa's business heroes. And he was supposed to be a part of he was supposed to be in the final episode of the Talent show is his own talent show, And it gives what the author reports butting African entrepreneurs The chance to complete for $1.5 billion. I started Million. Excuse me, Billy. That's a huge number. $1.5 million. These entrepreneurs in Africa by the way, just it just as a reminder as I bring up Africa. China has a gigantic influence operation going on in Africa. Gigantic influence operation. China's been doing all sorts of things in Africa, including by the way testing its artificial intelligence to more accurately detect black faces. You know about that? Yes, that they're doing that ensured a little problem with that. Yeah, They weren't the sort that out so they could they get they get more easily tracked black people. That's what China's doing. So Jack Ma did not appear in that episode. Instead, somebody else from Ali Baba took his place and Jack Ma's picture was taken off the website. For the show. Apparently what? Why would it why they take you to his picture off the website? Why was it that important? There's something super weird going on right here. Married and it can't help but smell really bad. Yeah, well, just remember Vince, if they take your name off the Web page, you might want to hide. Jeffries off the Web page because you might disappear that that it is very odd and it it's It's interesting because you know, in the in the West if you're supposed to be on this reality show, and you know this would be huge news right in your country, right? If it can you imagine if Elon Musk was on a reality show, and he just doesn't show up for the last, and he's the one who's doing the reality shows like that. You know, the guy who bought the brains behind it. This is it doesn't show up for the last episode doesn't make any sense, and nobody sees him for two months. This would be a big deal that were being about out looking for him and think about the message that's being sent now in China. Yes, no details, right. Nobody knows what happened. It's just one of the most famous billionaires on the planet has disappeared for the last two months immediately after criticizing the Chinese government. What is the message to every Single person who are in the dollar. Warns of Buck.

China Joseph Robinette Biden Jack Ma Jack Africa Joe diGenova Hunter Biden Ali Baba Mary Walter Chinese government Yahoo United States Jack Mom Congress Rich Anderson Virginia Susan Ferruccio Republican Party Alibaba
"jack ma" Discussed on Techmeme Ride Home

Techmeme Ride Home

05:25 min | 1 year ago

"jack ma" Discussed on Techmeme Ride Home

"So what did we miss. Well over the break. The whole chinese communist party versus jack. Ma thing got even more interesting. China's market regulator suddenly announced an antitrust investigation into alibaba for alleged monopolistic practices. Yes this sort of thing can happen in china to. I guess because as far as we know. This is the first investigation of its kind in china's internet sector ever coating the financial times the market regulator said it was investigating suspected monopolistic practices including alibaba's tactic of forcing merchants to sell exclusively on its platform a practice known as pick one of two in china among other issues. The brief statement from china's state administration of market regulation said the investigation into alibaba had been opened. Recently after complaints ali. baba's hong kong listed shares fell more than eight percent in early trading. Alibaba said it quote will actively cooperate with the regulators on the investigation and quote and that its business operations remained normal. This is china's first antitrust investigation into a chinese internet company for abusing its market dominance said scott you and antitrust expert at jong loon large firm quote. In a worst case scenario alibaba could be fined up to ten percent of its previous years sales and quote lawyers said the initiation of a former investigation met the government already had some evidence to support its case regulators quote definitely have evidence but it is hard to say whether they will ultimately decide this constitutes monopolistic behavior and its punishment said you jin wa at shanghai deboned law offices and quote so this story continues to fascinate me because for years the communist party has allowed big tech companies to flower in china to show that china could match the west for innovative disruptive capitalism albeit with the special chinese communist party spin on exactly what that entails implicitly. I suppose it has always entailed the communist party. Always having the final say on what exactly disruptive capitalism entails and it's interesting to see them very openly pulling the reins on jack ma one of the earliest and highest profile of the entrepreneurial success stories in tech china alibaba was founded all the way back in nineteen ninety nine. It was china's most valuable company for a long time though. Suddenly no more alibaba's seen almost all of this year's stock gains erased over the past few weeks wants the hammer began to come down on. Ma it all began with the canceled. Ipo of ant group. The finance of alibaba. Also run by jack ma and this morning even more. China's central bank has announced. That aunt must overhaul its lending insurance and wealth management businesses and come up with a timetable to do so toot sweet quoting bloomberg. These central banks summoned aunt executives over the weekend and told them to rectify the company's lending insurance and wealth management services. The people's bank of china said and statement sunday while it stopped short of directly asking for a break-up of the company the central bank stressed that aunt needed to quote understand the necessity of its business and quote and come up with a timetable as soon as possible. The series of edicts represent a serious threat to the expansion of mas online finance empire which has grown rapidly from a pay pal like operation into a full suite of services over the past seventeen years before regulators intervened aunt was poised for a public listing. That would have valued at more than three hundred billion dollars with existing backers including carlyle and silverlake. The hung based firm now needs to move forward with setting up a separate financial holding company to ensure it has sufficient capital and protect personal private data. The central bank said authorities also blasted aunt for subpar corporate governance disdain towards regulatory requirements and engaging in regulatory arbitrage the central bank said aunt used its dominance to exclude rivals hurting the interest of its hundreds of millions of consumers and quote as dr trae. Who knows way more about china than i do. Said on twitter quote. I'm still perplexed why they decided to kill ant the day before its ipo. It seems like a genuine mystery to everyone whether this was crazy. Powerplay to show they can put the brakes on something as large as that with the of a finger. Or if they like just didn't really look at andt closely until i day and quote but it's not just about jack ma though. Isn't it quoting bloomberg alibaba. Group holding led a second day of frenetic selling among china's largest tech firms driven by fears that antitrust scrutiny will spread beyond jack ma internet empire and engulfed the country's most powerful corporations alibaba and its three largest rivals. Tencent food delivery giant matron and jd dot com. Have shed nearly two hundred billion dollars over two sessions since when regulators revealed an investigation into alleged monopolistic practices. Atma's sickness or company. That marked the formal start of the communist. Party's crackdown not just on alibaba. But also potentially the wider increasingly influential texts fear and quote

alibaba china chinese communist party administration of market regul elon Musk jong loon large firm Tesla Ma jin wa apple baba jack google special chinese communist part ali hong kong jack ma
After Jack Ma, Is China Freezing Its Entire Tech Sector?

Techmeme Ride Home

05:25 min | 1 year ago

After Jack Ma, Is China Freezing Its Entire Tech Sector?

"So what did we miss. Well over the break. The whole chinese communist party versus jack. Ma thing got even more interesting. China's market regulator suddenly announced an antitrust investigation into alibaba for alleged monopolistic practices. Yes this sort of thing can happen in china to. I guess because as far as we know. This is the first investigation of its kind in china's internet sector ever coating the financial times the market regulator said it was investigating suspected monopolistic practices including alibaba's tactic of forcing merchants to sell exclusively on its platform a practice known as pick one of two in china among other issues. The brief statement from china's state administration of market regulation said the investigation into alibaba had been opened. Recently after complaints ali. baba's hong kong listed shares fell more than eight percent in early trading. Alibaba said it quote will actively cooperate with the regulators on the investigation and quote and that its business operations remained normal. This is china's first antitrust investigation into a chinese internet company for abusing its market dominance said scott you and antitrust expert at jong loon large firm quote. In a worst case scenario alibaba could be fined up to ten percent of its previous years sales and quote lawyers said the initiation of a former investigation met the government already had some evidence to support its case regulators quote definitely have evidence but it is hard to say whether they will ultimately decide this constitutes monopolistic behavior and its punishment said you jin wa at shanghai deboned law offices and quote so this story continues to fascinate me because for years the communist party has allowed big tech companies to flower in china to show that china could match the west for innovative disruptive capitalism albeit with the special chinese communist party spin on exactly what that entails implicitly. I suppose it has always entailed the communist party. Always having the final say on what exactly disruptive capitalism entails and it's interesting to see them very openly pulling the reins on jack ma one of the earliest and highest profile of the entrepreneurial success stories in tech china alibaba was founded all the way back in nineteen ninety nine. It was china's most valuable company for a long time though. Suddenly no more alibaba's seen almost all of this year's stock gains erased over the past few weeks wants the hammer began to come down on. Ma it all began with the canceled. Ipo of ant group. The finance of alibaba. Also run by jack ma and this morning even more. China's central bank has announced. That aunt must overhaul its lending insurance and wealth management businesses and come up with a timetable to do so toot sweet quoting bloomberg. These central banks summoned aunt executives over the weekend and told them to rectify the company's lending insurance and wealth management services. The people's bank of china said and statement sunday while it stopped short of directly asking for a break-up of the company the central bank stressed that aunt needed to quote understand the necessity of its business and quote and come up with a timetable as soon as possible. The series of edicts represent a serious threat to the expansion of mas online finance empire which has grown rapidly from a pay pal like operation into a full suite of services over the past seventeen years before regulators intervened aunt was poised for a public listing. That would have valued at more than three hundred billion dollars with existing backers including carlyle and silverlake. The hung based firm now needs to move forward with setting up a separate financial holding company to ensure it has sufficient capital and protect personal private data. The central bank said authorities also blasted aunt for subpar corporate governance disdain towards regulatory requirements and engaging in regulatory arbitrage the central bank said aunt used its dominance to exclude rivals hurting the interest of its hundreds of millions of consumers and quote as dr trae. Who knows way more about china than i do. Said on twitter quote. I'm still perplexed why they decided to kill ant the day before its ipo. It seems like a genuine mystery to everyone whether this was crazy. Powerplay to show they can put the brakes on something as large as that with the of a finger. Or if they like just didn't really look at andt closely until i day and quote but it's not just about jack ma though. Isn't it quoting bloomberg alibaba. Group holding led a second day of frenetic selling among china's largest tech firms driven by fears that antitrust scrutiny will spread beyond jack ma internet empire and engulfed the country's most powerful corporations alibaba and its three largest rivals. Tencent food delivery giant matron and jd dot com. Have shed nearly two hundred billion dollars over two sessions since when regulators revealed an investigation into alleged monopolistic practices. Atma's sickness or company. That marked the formal start of the communist. Party's crackdown not just on alibaba. But also potentially the wider increasingly influential texts fear and quote

Alibaba China Jack Ma Chinese Communist Party Administration Of Market Regul Jong Loon Large Firm Jin Wa Special Chinese Communist Part Baba ALI Jack Hong Kong Shanghai Scott Bank Of China Dr Trae Bloomberg
Alibaba being investigated by China over monopoly tactics

Houston Public Media Local Newscasts

00:43 sec | 1 year ago

Alibaba being investigated by China over monopoly tactics

"The chinese government has launched an anti monopoly. Investigation into ecommerce giant alibaba. Npr's john lewis reports china's market regulator announced the investigation into one of the country's most successful tech companies with one line it was looking into conduct including a practice that the company allegedly uses to pressure business partners into not dealing with its competitors alibaba's founder jack ma has himself been under pressure in recent weeks after publicly criticising financial regulation in china the government last month abruptly suspended the ipo of ant group of financial technology company. He controls that's part of the alibaba ecosystem. Alibaba said in a statement its business operations remain normal and it will actively cooperate with the

Alibaba Chinese Government Jack Ma John Lewis NPR China Ipo Of Ant Group Of Financial
Apple Reportedly Booting Thousands of Video Games From Its China App Store

WSJ Tech News Briefing

00:34 sec | 1 year ago

Apple Reportedly Booting Thousands of Video Games From Its China App Store

"They've launched an antitrust investigation into the ecommerce giant baba and they'll seven alibaba's affiliate aunt group for discussions on competition and consumer rights taken together. The two actions mark the strongest enforcement moves by beijing yet against the country's biggest tech giant and its billionaire founder. Jack ma alibaba didn't immediately respond to requests for comment and group acknowledged that it had received a meeting notice from regulators and said it would seriously study and strictly comply with all regulatory requirements. The federal communications commission's ongoing sale of wireless licenses has garnered a record. Sixty nine point eight billion dollars so

Jack Ma Alibaba Alibaba Beijing Federal Communications Commiss
An Alibaba Beatdown

CNBC's Fast Money

04:48 min | 1 year ago

An Alibaba Beatdown

"Alibaba. Closing the books on a record shattering singles day sales event. The tech giant says gross merchandise value. Seventy four point one billion dollars over the eleven day event but check out what happened to baba shares in hong kong trade. They fell nearly ten percent following a massive crackdown on the company. By the chinese government. Deirdre bosa is here with the very latest on this story. Deebo well in years past melissa. Single day has been all about those huge numbers that show the reach of china's internet giants. This time though that may be seen as more of a riskier. Flex justice singles was getting underway. Beijing's antitrust watchdog put countries tech giant's notice issuing draft rules aimed at rooting out monopolistic practices. Now the news hits the biggest names. Not just alibaba tencent. Jd dot com as well in hong kong by between seven and ten percent in. Just one session now. Alibaba is you know has already been under pressure. Since aunt groups halted ipo. The fintech also faces a changing regulatory landscape. More broadly guys regulatory pressure could be signaling. A new era for chinese tech. Not unlike what we're seeing for our own. American tech companies alibaba president michael evans told me earlier today. That transparency will be key. We need regulatory transparency. So that investors the company regulators. Everyone else can see the transparency and understand the rules by which the game will be played. That's where we're at over the last decade or more. The giants have been seen as national champions evidence of china's tech prowess surpassing even their american counterparts by some measures like users and growth. But now melissa. The draft rule suggests that beijing thinks that they have become too big and wants to rein them in perhaps giving a new crop of companies a chance to content back over to you all right deirdre. Thank you deirdre bosa for us tim. I'll go straight to you on this. I mean it was once thought that as national champions firms like alibaba and by intense they were backed effectively by the chinese government. And here we are in a very different position which violators of that. New regulation could be forced to divest of assets of intellectual property A whole host of measures. That would be very punitive so Deebo brought up a pretty good point also just that this anti regulated. This is the doj quivalent. We should say what that's meant for. Companies in our country mega cap texas Largely been nothing. But let's be clear about that As a guy that's invested in emerging markets for a long time and has seen governments dismantle companies. It got too big or too influential whether it's oil companies in russia whether it's been power companies in brazil. The national champions in china are just that i think the regulator has to evolve on the fly. I don't think they're gonna be telling these companies apart. And i think this is an opportunity. Remember china wants these companies to be global and dominant and they want them to work with the next wave of chinese tech companies. They're coming and yes they'll be competitive Influences but i think this is an opportunity but still the context of this is that these tech regulations came a week after the government forces suspension of the ant financial ipo karen which forced you as an investor in alibaba to actually reevaluate because it. It changed the rules to the point. Where aunt may not be as valuable as it once was. I think that's true. I think aunt will be unlikely in the short term to be as valuables. It was the very best cases. there's no new regulations. I don't think that's the most likely outcome. But you gotta think about how far the stock has fallen. And i think you know i agree with just about everything tim said of them. Being national champions. I think they're trying to this is really a spanking for jack. Ma and i think that ultimately i don't know how much of a difference it'll make in their in how powerful they are so when i look at how much the stock has come down if i own none. I would buy it right here. I don't own none. I own a fair amount. So i didn't add today. My next by next action probably would be to add. And i think that i don't know how long it's gonna take to resolve this but in my experience. Panicking on news like this has never been the right thing to do. So maybe this time it is the right thing to do but we look at what happened with the the internet companies. The gdp are we looked at having the antitrust with google stock traded up. We look what happened with facebook. Stock traded up. So i'm not gonna panic out of it. I may be the last one out when they dismantled the whole thing. But if i owned on abide here

Alibaba Chinese Government Deirdre Bosa Deebo Alibaba Tencent Fintech Chinese Tech President Michael Evans China Hong Kong Melissa Beijing Deirdre TIM Giants DOJ
"jack ma" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:20 min | 1 year ago

"jack ma" Discussed on Bloomberg Radio New York

"Business Flash. So much of the equity market advanced. Although to be fair today we finished well off the best levels of the day. The S and P 500 had been up by nearly 4%. At one point in the session. We ended with a gain of just 1.2% primary factor and driving price action today news on a Corona virus vaccine. It's being developed jointly by Pfizer and Germany's by on tech, it was found to have prevented more than 90%. Of infections. Today. Pfizer shares up by 7.7% Buy on tick up by nearly 14% on the day it seems as the drift lower. Coincided with Senate Majority Leader McConnell saying that President Trump is 100% within his rights to investigate any possible voting irregularities and request recounts. Now, McConnell went on to say the president has no obligation to accept immediate projections of the Joe Biden victory. Dow Industrial Average today picks up about 3% NASDAQ COMP, Though Falls 1.5%. We saw weakness in consumer discretionary along with information tech. And some of the communication system STOCKS. Long term interest rates move up today in a big way. 10 YEAR Treasury picking up more than 10 basis points last quoted in New York at 92 basis points and yield And a rally in crude oil right now in the extended session. W T. I 39 95. So we're up about 7.5% on the day. I've got prisoner and that is your Bloomberg business. Flash Carol. All right, Doctor. Thank you so much. You are listening to Bloomberg. BusinessWeek. Now a big story over the past week. You We talked about it A lot on air is the Chinese government blocking what would have been the world's largest typo? We're talking about Jack Mas and Financial as Bloomberg New Economy editorial director Andy Brown right this week in his column, those business leaders who take risks and push the limits. In China. They definitely pay a price. And it is also very telling about China overall, and he joins us on the phone in New York City and good to have you back with us. We've talked a lot about this, but your column I really think is very thoughtful again and it gets into when big Chinese leaders You know when they speak back or speak out against the Chinese government. There's a big price to pay in these two leaders in particular you highlighted they have paid a big price. That that that that that's exactly right. I mean, you know what this whole episode is telling us is that when it comes to business in China politics is in command and won't be tied. The private, effective leader who does to speak back to power, and that's exactly what happened in this case, and you know it is. There's a bigger question here around innovation and spirit in China. I mean China's way past today is when it can copy in scale. It is operating now, with the very frontiers of technology. It needs Aiken class. It needs rebels. It needs disruptive. And you know, Jack Ma. Personifies allow all of those attributes. This is a guy who pretty much single handedly resolved. The issues that enabled e commerce to take off in China was an issue of trust people didn't trust Putting their credit card numbers out onto the enter. He figured out a payment system around that economists off course, and we know they know one of the key drivers of the Chinese economy. He wants to do the same and eaten Fintech, and he's just being sat on. And you talk about also what you say is China's most celebrated movie director talked to us about a very similar experience that he that he came up against in terms of China. It was. It was interesting parallel case, and I was trying to, you know, compare and contrast with detail. They're actually quite similar. This was in February last year. Johnny, Mo China's most famous Movie director. I mean, you know, artistically sublime. The guy who actually put on the opening and closing ceremonies off the Beijing Olympic Games. He had a movie coming out, called one second. It was about the culture revolution. It was due to be screened at the Berlin Film Festival two days before the screening his production companies for technical reasons they were pulling them. They were pulling the movie. Clearly it was a question of, you know off censorship, So you know he's spent the last. I don't know how many months recutting this movie so that it will get through the Chinese censorship regime instead of moving on to his next triumph, his next movie, you know, he's he's They're busily satisfying the cultural saws. Who have the final say over artists in China. I mean, and you say in your start no to private individuals have done more to enhance China's Internet international image, and I think it comes at such an interesting time. President Ji is looking to really expand the economy. He's also looking for China to be more innovative and be more involved in kind of hired the higher tech or higher developed industries, if you will. So what does something like this do to that? Well, you know the message. The message to the message to the private sector from regulators is basically this know your place, and you know, in in today's incident things China he's the emphasis is it was all on the public sector. You know the view off from a high level of in the state in China. To the private sector is you owe everything to the state you are without you. You are. You are nothing you know, and the sort of the the private people like Jack, but they think they have to take this right. So you know, in his case, Of course he's now. I seen his type O derail that the small matter of the 27 billion bucks. He was supposed to be learning from this, you know, And when it finally comes to market, it's going to be shrunken. And so now you know, we had there a regulator problems around Fintech all over the world. But most places have a sort of rather more sophisticated institutional mechanism to resolve these differences instead, all the Yankee ni po, you know, sort of on on on on the even humiliating Your most prominent business figure, Andy. I can't let you go without talking about Bloomberg and f the new economy form. It kicks off one week from today. I'm thinking what we just talked about..

China Bloomberg Pfizer New York City Andy Brown Mo China Chinese government Germany Jack Ma Fintech Joe Biden Senate New Economy McConnell Jack BusinessWeek Jack Mas Berlin Beijing Olympic Games
Jack Ma's terrible week

Bloomberg Businessweek

03:07 min | 1 year ago

Jack Ma's terrible week

"You are listening to Bloomberg. BusinessWeek. Now a big story over the past week. You We talked about it A lot on air is the Chinese government blocking what would have been the world's largest typo? We're talking about Jack Mas and Financial as Bloomberg New Economy editorial director Andy Brown right this week in his column, those business leaders who take risks and push the limits. In China. They definitely pay a price. And it is also very telling about China overall, and he joins us on the phone in New York City and good to have you back with us. We've talked a lot about this, but your column I really think is very thoughtful again and it gets into when big Chinese leaders You know when they speak back or speak out against the Chinese government. There's a big price to pay in these two leaders in particular you highlighted they have paid a big price. That that that that that's exactly right. I mean, you know what this whole episode is telling us is that when it comes to business in China politics is in command and won't be tied. The private, effective leader who does to speak back to power, and that's exactly what happened in this case, and you know it is. There's a bigger question here around innovation and spirit in China. I mean China's way past today is when it can copy in scale. It is operating now, with the very frontiers of technology. It needs Aiken class. It needs rebels. It needs disruptive. And you know, Jack Ma. Personifies allow all of those attributes. This is a guy who pretty much single handedly resolved. The issues that enabled e commerce to take off in China was an issue of trust people didn't trust Putting their credit card numbers out onto the enter. He figured out a payment system around that economists off course, and we know they know one of the key drivers of the Chinese economy. He wants to do the same and eaten Fintech, and he's just being sat on. And you talk about also what you say is China's most celebrated movie director talked to us about a very similar experience that he that he came up against in terms of China. It was. It was interesting parallel case, and I was trying to, you know, compare and contrast with detail. They're actually quite similar. This was in February last year. Johnny, Mo China's most famous Movie director. I mean, you know, artistically sublime. The guy who actually put on the opening and closing ceremonies off the Beijing Olympic Games. He had a movie coming out, called one second. It was about the culture revolution. It was due to be screened at the Berlin Film Festival two days before the screening his production companies for technical reasons they were pulling them. They were pulling the movie. Clearly it was a question of, you know off censorship, So you know he's spent the last. I don't know how many months recutting this movie so that it will get through the Chinese censorship regime instead of moving on to his next triumph, his next movie, you know, he's he's They're busily satisfying the cultural saws. Who have the final say

Chinese Government China Jack Mas Andy Brown Jack Ma Businessweek Bloomberg Fintech New York City Aiken Johnny Olympic Games Beijing Berlin
China postpones Ant’s colossal IPO after closed-door talk with Jack Ma

All Things Considered

02:42 min | 1 year ago

China postpones Ant’s colossal IPO after closed-door talk with Jack Ma

"American markets are not, of course, the on ly markets and Chinese investors had been planning something of a celebration this week, the world's biggest initial public offering ever. To be set in Shanghai and Hong Kong, the company going public and I think we mentioned this last week is Ant Financial, a giant in Chinese fintech financial technology. That was the case until this morning. That is Chinese regulators kind of out of nowhere suspended. The I P o not happening at all. Not clear what's going on. But his marketplaces Scott Tongue reports. What we do know is that the Chinese government is still very much in charge of the world's second largest economy. Aunt group is no small insect in the Chinese economy. It's phone APP is used by 700 million people. Martin Short's MPA is with the Peterson Institute for International Economics in China. They don't use credit cards. They link their bank account into this digital wallet, and then they scan barcodes everywhere to pay for things. They can also shop online through it taken by gold and investment products. Get loans get insurance two weeks ago and controlling stake holder Jack Ma blasted Chinese financial regulators for red tape and for not understanding companies like his into many, Jack Ma crossed a line and the government is assumed to have struck back by freezing the AIPO for now. China market analyst Fraser Howie is the author of Red Capitalism. The status pattern made by the party is proud of me. Even though Jack's a member of the party business cannot be devolved from politics in China. Social media in China is now filled with cracks about Aunt's getting crushed in this old movie clip of Jack Ma, playing a kung fu master apologizing to the cops always says The lesson for international investors is beware of the China market in the interference of the state. Imagine, he says, You're like the risk manager at some $100 billion Midwest Pence and fund and last week, someone said, we've got again to China. Look what's happening. You're gonna turn around and say, turn around and say no way. Another cautionary message has to do with Chinese innovation, Martin Zampa says in the US it's normal for a tech CEO to tell Washington bureaucrats to back off. But when Jack Ma says that in China he's put in this place. The pendulum continues to swing towards control and away from the freedom. Which encourages innovation, he says Chinese authorities fear that Aunt group could make borrowing too easy and put the financial system and risk. I'm Scott Tongue for marketplace.

Jack Ma Ant Financial Scott Tongue Chinese Government China Aunt Group Peterson Institute For Interna Fraser Howie Martin Short Shanghai Hong Kong Midwest Pence Martin Zampa Aunt Jack Washington United States
"jack ma" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:54 min | 1 year ago

"jack ma" Discussed on Bloomberg Radio New York

"The top of his report about really? What is our top story are most red Story number one. On the Bloomberg terminal about China, suspending the Shanghai and Hong Kong debut of Aunt groups $35 billion offering. It was supposed to be the world's biggest IPO was supposed to happen Thursday. But it's not you knew about it. Thanks to Bloomberg New Economy editorial director Andy Brown. He's written and talked About how Antz biggest obstacles maybe the Chinese government and he is with us again on the phone in New York City, and I am so glad you're here. You know this headline hit and I think for a lot of people, it was a bit shocking. But you did write about this and kind of gave us all a heads up in a column he wrote last month. Why is it though China is doing this. You know, Jack Ma has always had an uneasy, ambiguous relationship with Chinese authorities he wants with his famously quoted saying, Love the government. But don't marry them. In other words, keep your distance, and regulators have never quite known what to make of Jack Ma. On the one hand, they look at him as the big opportunity. He's clearly a disruptive He's bringing a lot of small and medium sized enterprises into the formal economy. Putting capital that way. On the other hand, there's always being the sense among regulated that he's an accident waiting to happen. They haven't been able to decide and yesterday or today, rather They did. They decided that he's too much of a risk. And they're reining him in well. And why wait, though? Kind of to the 11th hour. You know, Andy, this is obviously a company that they've been looking at for some time. Why is it You know, is it just because Thie AIPO finally said to them we've got we've got a really now look at this more closely and maybe do something about it. Well, he made me He made a terrible a terrible political mistake. It was at a conference recently in Shanghai lit into Chinese and international financial regulators basically called them all a bunch of rusty old folks holding back innovation, stunting the dreams of young people. No, not under not understand. He said that the Basel accord with an old people and old people, he said banks in China were basically had a had a pawnshop mentality and settle this at a conference where the headline of the keynote speaker with one Cheap son He's one of the most powerful man in China, formerly he was the anti corruption czar. It is also one of the godfathers of the Chinese banking system. And once she Shawn's line at that conference with completely opposite his line was we have to be cautious. Safety First and Jack Mark comes in and says, We gotta rip it all up and start again. Long Qi Sean. Obviously, his arguments have won the day. Yeah, I

Bloomberg LP China Andy Brown Bloomberg School of Public Hea Bloomberg Philanthropies Jack Ma Michael R. Bloomberg Charlie Pellet Shanghai New York City editorial director Chinese government Jack mas Jack Mark New Economy Jack Thie AIPO founder Ray Dalio
"jack ma" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:20 min | 1 year ago

"jack ma" Discussed on Bloomberg Radio New York

"Bloomberg School of Public Health is supported by Michael R. Bloomberg, founder of Bloomberg LP. And Bloomberg Philanthropies again, recapping equities higher with the S and P Up 59 again now of 1.8%. I'm Charlie Pellet. That's a Bloomberg business Flash. All right, Charlie. Thank you so much. Charlie mentioned this at the top of his report about really? What is our top story are most red Story number one. On the Bloomberg terminal about China, suspending the Shanghai and Hong Kong debut of Aunt groups $35 billion offering. It was supposed to be the world's biggest IPO was supposed to happen Thursday. But it's not you knew about it. Thanks to Bloomberg New Economy editorial director Andy Brown. He's written and talked About how Antz biggest obstacles maybe the Chinese government and he is with us again on the phone in New York City, and I am so glad you're here. You know this headline hit and I think for a lot of people, it was a bit shocking. But you did write about this and kind of gave us all a heads up in a column he wrote last month. Why is it though China is doing this. You know, Jack Ma has always had an uneasy, ambiguous relationship with Chinese authorities he wants with his famously quoted saying, Love the government. But don't marry them. In other words, keep your distance, and regulators have never quite known what to make of Jack Ma. On the one hand, they look at him as the big opportunity. He's clearly a disruptive He's bringing a lot of small and medium sized enterprises into the formal economy. Putting capital that way. On the other hand, there's always being the sense among regulated that he's an accident waiting to happen. They haven't been able to decide and yesterday or today, rather They did. They decided that he's too much of a risk. And they're reining him in well. And why wait, though? Kind of to the 11th hour. You know, Andy, this is obviously a company that they've been looking at for some time. Why is it You know, is it just because Thie AIPO finally said to them we've got we've got a really now look at this more closely and maybe do something about it. Well, he made me He made a terrible a terrible political mistake. It was at a conference recently in Shanghai lit into Chinese and international financial regulators basically called them all a bunch of rusty old folks holding back innovation, stunting the dreams of young people. No, not under not understand. He said that the Basel accord with an old people and old people, he said banks in China were basically had a had a pawnshop mentality and settle this at a conference where the headline of the keynote speaker with one Cheap son He's one of the most powerful man in China, formerly he was the anti corruption czar. It is also one of the godfathers of the Chinese banking system. And once she Shawn's line at that conference with completely opposite his line was we have to be cautious. Safety First and Jack Mark comes in and says, We gotta rip it all up and start again. Long Qi Sean. Obviously, his arguments have won the day. Yeah, I anticipate that. You know that Jack mas, you know, PR team kind of sitting at the side being like, What are you saying? What you're saying? What's interesting is those, You know, Andy, I think about China wanting to open up and be much more involved in and be really dominant, whether it's technology finance more sophisticated parts of the global economy. And I feel like Aunt is one way for them to do this, but it's interesting than to see them kind of rein it in. So is this much more a personal thing when it comes down to it? Are they really concerned about kind of the structure and the sprawl if you will of aunt Well, this is a This is a broader political issue. You know, I mean, China right now is throwing open its markets to foreign investors want more money in the markets? And and that message is, if it has got a vory is being welcomed by by us and best people like Ray Dalio was saying, You know, we really need to re wait China and up investment portfolios, not 3%. Tripping 15%. If it goes to 15%. It would imply this massive duster of money. But what this episode dramatically highlights is that when you get involved in Chinese markets, you're also getting entangled in Chinese politics. Right now. It's impossible to say what Jackman political risk profile is. Nobody knows that least of all Jack my himself. That's kind of important, given the Jack Ma is the richest guy in China, and this is potentially if it ever comes, if it ever ever calls it off. Biggest Hypo in history. Um and he got about 20 seconds. Should we say this is far from over and we could still ultimately see that I po just quickly we could. I mean, it still could go out. But there's going to be it's going to be a very bumpy ride, which essentially is what foreign investors need to expect when they get involved in the Chinese financial system. Thank you so much. And if we knew in the story hit, we had to talk with you because she gave us that heads up. You've been on it. Andy Brown. Thank you so much. He's editorial director of Bloomberg New Economy, joining us on the phone in New York City. All right, let's get another check on world of National news back over to Nancy Lions in our night and I.

Bloomberg LP China Andy Brown Bloomberg School of Public Hea Bloomberg Philanthropies Jack Ma Michael R. Bloomberg Charlie Pellet Shanghai New York City editorial director Chinese government Jack mas Jack Mark New Economy Jack Thie AIPO founder Ray Dalio
"jack ma" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:40 min | 1 year ago

"jack ma" Discussed on Bloomberg Radio New York

"Japan a short while ago this is first quarter GDP we were expecting a negative reading than the one we got wasn't as bad is the one that was feared I guess you could say with negative three point four percent annual growth rate the market was looking for something in the vicinity of a negative four point five so we've got the Nikkei up modestly something around a tenth of one percent the end here is weaker at one of seven twenty four and as long as we're in Japan let's mention softbank group company is going to buy back up to six point seven percent of its shares outstanding they'll spend about five hundred billion yen to do so between today and the March thirty first the company has also announced changes to its board of directors including the resignation of member Jack ma right now I'm looking at shares in softbank they're trading higher by about seven tenths of one percent in Seoul right now The Cosby is down about a tenth of one percent in Sydney meantime the ASX two hundred is up but one point one percent we heard from fed chair Jay Powell he was interviewed tonight on sixty minutes earlier CBS news released a snippet of that conversation and in it the chairman said it assuming there's not a second wave of covert nineteen he thinks the economy could recover steadily through the second half of the year there's a cabbie out here he said in order for the economy to fully recover people have to be fully confident and we may have to wait for the arrival of a vaccine ten year treasury right now is at sixty four basis points on the Tokyo session that's market action on to global.

Japan Jack ma softbank Seoul Cosby Sydney Jay Powell chairman CBS Tokyo
"jack ma" Discussed on WGN Radio

WGN Radio

02:00 min | 1 year ago

"jack ma" Discussed on WGN Radio

"Back to I often travel forty three minutes after the hour Peter Greenberg here with you as I travel continues with this first weekend in may two thousand twenty and as I always tell you if you got a question for me or a problem email me to Peter after Greenberg dot com give us your name phone number question a problem we will solve it right here on the it's your right to the phones in Milan Illinois or Milan Illinois we've got what what differentiation Jack ma island miles you I'll I normally get letters of this mileage Illinois up by the Quad Cities it's Jack workers on the phone how can I help you Sir well Peter I appreciate you taking my my letter here to you and well we have a trip that was scheduled for all Barmer go Germany for the passion play this Sherlock and that's been postponed for two years and our travel agents say he said well if you want to cancel out it's going to cost you your trip insurance and your five hundred dollar non refundable deposit and perhaps a few hundred dollars airfare cancellation okay let me stop you right let me stop you right there at the Poynter trip they they cancel the passion play you didn't exactly sure what the point of having for what's the point of having trip insurance that's what it's supposed to cover you for what are they saying the trip insurance isn't covering Jack well there is a five hundred dollar non refundable deposit for Oberammergau I don't know why they no no no I'm not talking about the non refundable deposit I'm talking about the trip insurance well the trip insurance basically for Yafai got sick or some close family member gets sick or I guess also yeah interruption in travel well there you go you just said the word your trip was interrupted the trip was also canceled what you bought was trip cancellation and interruption insurance so whoever's in the booking your travel is wrong on the trip insurance so let's hold on that first and non refundable.

Peter Greenberg Illinois Barmer Germany Jack Yafai Milan Jack ma island Poynter
"jack ma" Discussed on WAFS Biz 1190

WAFS Biz 1190

01:34 min | 2 years ago

"jack ma" Discussed on WAFS Biz 1190

"The provincial conversations from Bloomberg television here's Taylor rigs tell us more about the rise in law as well as what lies ahead for Ali Baba let's bring in the man who literally wrote the book on both of them Duncan Clark he is the author of Ali Baba the house that Jack ma build he is also the chairman of BT eight China it's an advisory firm serving investors in China's technology and consumer sector stuck in great to have you what struck my mind as you were an early adviser to all involved what did you see yeah you walked into that little apartment as I did twenty years ago it was tiny but was packed with people working around the clock their shoes were at the door they reading a pot noodles round the clock and they have this vision this crazy vision to become one of the largest internet companies in the world when they were just like twenty people in this. so that was striking but Jack ma somehow made it believable he has a great ability to convince investors employees customers and we still see that today so what about Daniel Zahn was taking over does he have the same sort of figure inspiration that Jack ma had you know I think nobody can really fill the shoes of somebody like Jack ma or founder of a company who so charismatic and is built such a big business but I know the manager you know he has an accounting and finance background so he's actually been that seven harassing a machine actually that Jack and now I think a hundred forty thousand employees but I've I've built here more interviews like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings. headlines.

Ali Baba Duncan Clark chairman BT China Daniel Zahn founder Jack Bloomberg Taylor twenty years
"jack ma" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

01:30 min | 2 years ago

"jack ma" Discussed on WNYC 93.9 FM

"Author of Ali Baba the house that Jack ma built speaking to us about the decision of Jack ma to to step down as chairman of the company he found. you're listening to the BBC world service is newshour coming to you live from London with James to Marcel me. calls for countries to take urgent action to mitigate climate change seem to come along as frequently as extreme weather events which provide the clearest evidence for the argument the first report from the U. N.'s global commission on adaptation is different because rather than focusing on reducing carbon emissions it's all about how we can and must change the way that we live in order to adapt to climate change that is already happening and is inevitable importantly it argues that such adaptations could actually bring net benefits he is a former U. insect regional bank he moon launching the commission's report in the Hague today. it is really great top privilege and walked about great origins that I or loans the launch of the crowbar commission on adaptation to raise the visibility of adaptation and four cars on the solutions..

Ali Baba Jack ma chairman London James U. N. BBC
"jack ma" Discussed on My Worst Investment Ever Podcast

My Worst Investment Ever Podcast

04:20 min | 3 years ago

"jack ma" Discussed on My Worst Investment Ever Podcast

"Funds you then built his own twenty five person technology startup called gecko life before he's Sambo seeing on the capital Rajiv has an honours degree in law, finance and all my God. This one is scary econometrics from the university of Sydney, but gee, take a minute fill in any further tidbits about your life. Andrew thank you for the welcome. I also am passionate not only about technology investing. But also, my family I have four kids from the ages of five to twelve. So it's an intense household in the evenings. And when I'm at work, we generally made somewhere between night and ten companies, and I love doing that every day of the week outside of work and family, I like to travel I love watching television. And I'm not a barrister about it. Currently watching Ozarks on Netflix and loving every episode others. In addition attaching go skiing and through that other Balazs fifteen to twenty. I've busted my hip. I've done three ICL's, and I'm an old, man. And I'm not even sixty. One thing is visiting, you know, meeting with companies, why do you meet with companies? I just wonder now some people say they meet with companies to learn the story some say they want to see if they can trust management. Some people say you're not gonna get anything. They're not going to disclose anything to you that they haven't disclosed the market. Why do you meet with companies? So it's a combination of a few things because we're meeting listed and unlisted companies. You will certainly see delineation in the information that a share listed companies are generally more cautious. And we'll share information that they share with the public generally. However, it's the private will unlisted companies that we made win probably more frequently. If I talk about ten meetings die, we're probably getting six or seven of them. And what you goner is knowledge. You learn something new about a person of product a mockery enthused that you get confirmation by. In terms of what some of the listed company site, and you meet the companies of tomorrow. And that's what excites me about doing. What I do day-to-day from an investing standpoint fantastic person, product market and a look into the future. Those are great reasons to meet a company. Well, now, it's time to show your worst investment ever. And since no one goes into their worst investment thinking, it will be tell us a bit about the circumstances leading up to it. And then tell us your story. So my worst investment started in nineteen ninety eight I was looking at Goldman at a time in home call I was summoned from the sixty fifth floor to the sixty eight all my colleague today. Businessperson. That's coming in. You've got to meet him because it could be a big business at some point. So when upstairs went into the conference room of the looking Hong Kong Kaaba, and there was a little man standing in the corner fulfilled eleven Chinese. Individual. And we great at each other. And he had this ambitious plan changed the way that China, Greta China's specifically possibly the world would trade commerce, and that ended up being Jack Ma and through that meeting, Jack Ma for those of you that is the founder of Alibaba. So is nineteen ninety eight met Jack. And there was something that was inspirational about him. He was a teacher. He was trying to do something in an area that he had some knowledge, but executing would have been real challenge. What it taught me was tenacity is the greatest aspect. Someone needs to have when the building the business, and as an investor must be able to detect to nasty, first and foremost, it's a key differentiator, you want your leaders, and you want your operational manages to have tenacity to not give up. We isn't investor. Need to have tenacity to believe in those companies to believe in investment. So from nineteen ninety onwards, I had the benefit being a golden a minute global technology funds to see what was going on in technology, and it was changing every aspect about lives in nineteen.

Jack Ma university of Sydney Sambo Netflix Andrew gee Hong Kong Kaaba Balazs China Jack Goldman Alibaba Greta China founder sixty fifth