Billionaire Jack Ma Is Giving Up Control of Ant Group

[troubled soul]

Billionaire Jack Ma Is Giving Up Control of Ant Group

https://www.bloomberg.com/news/arti...share&utm_campaign=mobile_web_share#xj4y7vzkg

 

[Martin Everson]

Yup China did the right thing here thu&¤#.

You want to understand why? Watch the‌ below video only from 57:48 to 58:38 mark. And listen very very carefully to‍ just that one minute clip. China puts its billionaires in check unlike some other countries⁠ 😉.

 

[void]

ok, and is there any conclusion? I mean⁤ in terms of what is better (smaller evil)?

 

[Martin Everson]

Less influence is better.

 

[void]

no doubt about that -‌ but less influence of corporations or less influence of government/politburo? I'm having hard times to‍ decide

 

[Martin Everson]

Has to be some‍ middle ground. But you can't end up with a country resembling a oligarchy like in⁠ U.S. Government has to be run for the interest of the majority not powerful and⁤ influential minority.

https://www.cambridge.org/core/jour...age-citizens/62327F513959D0A304D4893B382B992B

 

[void]

this might be worth a poll on this‍ forum 😀

 

[Martin Everson]

You mean a poll such as should government be run for the interests of the powerful‌ and influential (like Jack Ma or Elon Musk) or majority interest?

I think the result‍ should be obvious....but then again 😕

 

[void]

putting aside that government shouldn't exist at all (for the same reason⁠ you don't want your town to be governed by a gang) I meant a poll⁤ which of those options will be better in the end for an average citizen who⁣ gets fucked either way

 

[Martin Everson]

He overstepped the mark. They nipped that oligarchy attempt in the bud.

https://www.bbc.com/news/business-64192382
----- quote‌ start

Ant Group runs Alipay, the main online payment system in China, which has eclipsed‍ cash, cheques and credit cards.
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Some analysts saw it as an attempt⁠ by the Chinese government to humble a company that had become too powerful and a⁤ leader who had become too outspoken.

The regulatory intervention came after Mr Ma had told⁣ a financial conference that traditional banks had a "pawn-shop mentality".

He also lauded the merits⁢ of the digital banking system, and stressed that future lending decisions should be based on︀ data, not collateral.

---- quote end