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Tell that to Jack Ma. https://www.nytimes.com/2020/11/06/technology/china-ant-group-ipo.html https://www.nytimes.com/2020/11/06/technology/china-ant-grou...

Barrin92 6y ago
yeah if you're one of the richest people in China don't bait the CCP and financial regulators before doing the largest IPO in the nation. That's different from someone posting memes on the internet.
- blackrock 6y ago
  Well, you do have to give China’s financial regulators credit here. Jack Ma’s Ant Financial was doing some really shady business practices. Like keeping essentially 0% money on their books for collateral. And they filed to go public, in 2 months. Which is incredibly fast, that nobody had the time to review what their business was all about. And even when they got approval at the lower levels, the higher levels didn’t get to think it through yet. So they decided to pause Ant’s IPO at the last minute. With the requirement that they have 30% of the money held back as collateral. The Ant business model had a serious possibility of destabilizing the entire financial system of China, and possibly the world. Nobody really cared when Ant was private. Make all the money you want. But being a public company is a whole different ball game. I think China dodged a bullet here. It’s better to be safe, than sorry.
  - nouveaux 6y ago
    "The Ant business model had a serious possibility of destabilizing the entire financial system of China, and possibly the world. Nobody really cared when Ant was private. Make all the money you want. But being a public company is a whole different ball game." Can you elaborate why its ok for a private company to destabilize the the entire financial system of China, and possibly the world? Why is it bad when its a public company?
justicezyx 6y ago
Look at the insane leverage in Ant's personal loan services. Jack Ma is not punished because of his speech. His speech is a reflection of his perceived punishment of "innovation" which is really just a amplified version of the financial insanity already happened in US. And Jack Ma actually can challenge the main stream rhetoric, can you say that 911 at least in part was a result of US foreign policy?

Barrin92 6y ago

yeah if you're one of the richest people in China don't bait the CCP and financial regulators before doing the largest IPO in the nation. That's different from someone posting memes on the internet.

blackrock 6y ago
Well, you do have to give China’s financial regulators credit here. Jack Ma’s Ant Financial was doing some really shady business practices. Like keeping essentially 0% money on their books for collateral. And they filed to go public, in 2 months. Which is incredibly fast, that nobody had the time to review what their business was all about. And even when they got approval at the lower levels, the higher levels didn’t get to think it through yet. So they decided to pause Ant’s IPO at the last minute. With the requirement that they have 30% of the money held back as collateral. The Ant business model had a serious possibility of destabilizing the entire financial system of China, and possibly the world. Nobody really cared when Ant was private. Make all the money you want. But being a public company is a whole different ball game. I think China dodged a bullet here. It’s better to be safe, than sorry.
- nouveaux 6y ago
  "The Ant business model had a serious possibility of destabilizing the entire financial system of China, and possibly the world. Nobody really cared when Ant was private. Make all the money you want. But being a public company is a whole different ball game." Can you elaborate why its ok for a private company to destabilize the the entire financial system of China, and possibly the world? Why is it bad when its a public company?

justicezyx 6y ago

Look at the insane leverage in Ant's personal loan services. Jack Ma is not punished because of his speech. His speech is a reflection of his perceived punishment of "innovation" which is really just a amplified version of the financial insanity already happened in US. And Jack Ma actually can challenge the main stream rhetoric, can you say that 911 at least in part was a result of US foreign policy?