1/7 Probably an unpopular take:
The current fight between Jack Ma and Chinese regulators is somewhat similar to a Dick-Fuld-vs-Tim-Geithner fight in 2008.
no endearing character on either side.
The current fight between Jack Ma and Chinese regulators is somewhat similar to a Dick-Fuld-vs-Tim-Geithner fight in 2008.
no endearing character on either side.
2/7 Ant Financial (Alipay) fueled a $2Tn CNY sub-prime credit bubble in China in the past 3 years.
much of the $2Tn was used for weddings, cars, cell phones, video games, very few of which is productive assets.
much of the $2Tn was used for weddings, cars, cell phones, video games, very few of which is productive assets.
3/7 Exhibit A of Chinese consumer credit boom
live-streaming influencers who are raking in millions a day.
The top influencer of 2020, 薇娅, had a one-day sales of 1.1Bn RMB on Nov 11. Yes, that's a billion, not a typo.
live-streaming influencers who are raking in millions a day.
The top influencer of 2020, 薇娅, had a one-day sales of 1.1Bn RMB on Nov 11. Yes, that's a billion, not a typo.
4/7 here is documentary made by a Japanese director about this
another clip
6/7 The full video can be seen here:
Think of it as QVC meets OnlyFans.
Think of it as QVC meets OnlyFans.
7/7 Things are moving fast in China. And it's not always about politics.
The whole drama about Jack Ma is a negotiation process IMO.
Ma owns 22 media outlets, and he is using them for his advantage
And the regulators are using Chinese media for their advantage.
The whole drama about Jack Ma is a negotiation process IMO.
Ma owns 22 media outlets, and he is using them for his advantage
And the regulators are using Chinese media for their advantage.
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