101–110 of 134 posts
https://www.scmp.com/business/companies/article/2163376/jack...
"When you are 50 to 60 years old, spend time training and developing young people, the next generation," Ma added. "When you are over 60 years old, you better stay with your grandchildren." https://www.cnbc.com/2018/01/30/jack-ma-dont-fear-making-mis...
Sometimes there are no smokes and mirrors.
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> The average person born in 1990 has a higher average real wage than their parents did Mean, yes, median, less so. > but mean statistics point to a wealthier American population at all levels today than any time before. “mean statistics” don't tell you anything about “at all levels”, and are misleading because of the increasing top-heaviness of the distribution.
> Mean, yes, median, less so Median quite so [1]. Every class of American is getting richer, just not as fast as the ultra-rich. [1] https://fred.stlouisfed.org/series/MEHOINUSA672N/
Even leaving aside that outside of abject, starvation-level poverty, relative deprivation is a bigger contributor to disutility than absolute deprivation, such that everyone getting richer in absolute terms but the already rich getting rich faster would actually be a bad thing even if true.
"When you are 50 to 60 years old, spend time training and developing young people, the next generation," Ma added. "When you are over 60 years old, you better stay with your grandchildren." https://www.cnbc.com/2018/01/30/jack-ma-dont-fear-making-mis...
I actually believe this - he is fulfilling his vision of the stages in life. Sometimes there are no smokes and mirrors.
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with the intensity he speaks and the clarity he has in what he speaks and given the fact he was a teacher, I fully expect him to actually make a positive impact
I wish all geeks who want to reform (save) education also had Ma's classroom experience. It's easy to tell other people how to do their jobs. Hard to actually do the job.
That thing you're building? Find someone who's really good at the current way it's done.
Sit and watch them. Don't talk, just observe and understand.
After you've sat silently for awhile, then ask any questions you have.
Your product will be immeasurably better in at least one way.
The reason Jack Ma is stepping down from Alibaba is that he was becoming too powerful and influencial in China. Jack is very smart and knows that you can build your wealth and power until you begin to threaten the party, then you either need to step down or you will be forcefully taken down.
Definitely influential... I was with a 30-year-old Chinese lady last night. Entrepreneur... I asked who her role models are, and she said "Only one... Jack Ma".
> An Alibaba spokesman said Ma remains the company’s executive chairman and will provide transition plans over a significant period of time, contrary to a New York Times article that said he was “stepping down” to “retire.” The Times story was taken out of context, and factually wrong, the spokesman said. https://www.scmp.com/business/companies/article/2163376/jack...
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Interesting thought. Can you provide any historical examples of this?
You can look at his existing behavior for clues to that being the case. When he took control of Ant Financial from Alibaba, spinning it off, he gave himself 2/3 of the business. That diluted position would still be worth around $80-$90 billion today. Instead of holding onto that, he proceeded to massively dilute his ownership and control of Ant. The reason he did that, is the same reason he was allowed to take it awa…
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Did you try reading the above linked NASDAQ link? Total overall revenues: Alibaba reported revenues of RMB80.9 billion (US$12.23 billion), up 61% from the prior-year quarter. Also, revenues came in slightly above the Zacks Consensus Estimate of US$12.25 billion. Total revenues related to selling exports: · International commerce retail business (6% of the total revenues) - Revenues in the quarter were RMB4.3 billion…
I think you misunderstood what they were saying... That it's possible the domestic customers that make up the majority of Alibaba revenue may decrease their spending on the platform if their own incomes rely on exports.
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Just to be super clear, I don't think that the increasing gap is a good thing. I was just commenting on the fact that surprisingly many super rich people decide to go into philanthropy instead of letting their wealth dissolve within their families. Buffet had a nice, pretty old article about why leaving huge loads of money to your children is a bad idea but I can't find it at the moment.
Considering that the gap also means increasing disdain against the rich, I'm not that surprised. Not saying it's all just PR and getting on the good side of the mob, but it's still true that before being revered for his philanthropy, Bill Gates was one of the most hated people in tech.