Also, the tech industry isn't being smashed. Alibaba still reported strong revenue growth in their first quarterly report this year: https://alibabagroup.com/en

Also, the tech industry isn't being smashed. Alibaba still reported strong revenue growth in their first quarterly report this year: https://alibabagroup.com/en/ir/presentations/pre210513.pdf https://alibabagroup.com/en/ir/presentations/pre210513.pdf Having to pay an anti-monopoly fine put them into the red for that one quarter, but aggregated over four quarters they still had 2% YoY profit growth. The "tech crackdown" is actually a combination of crackdowns against various business practices that just happen to be common in the tech industry, but aren't necessary for it to function. (E.g. marketplaces don't need to require sellers to exclusively sell on their platform, it just seemed like a good way to hamper the competition until it turned out that this kind of anti-competitive strategy might be punished with a fine.)