Jack Ma to Retire from Alibaba
nytimes.com
Jack Ma to Retire from Alibaba
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Re: Jack Ma to Retire from Alibaba
#2It ain't working that bad so far. I mean we have increasing gap, but the 0.0001%, which arguably is pretty smart, is in the end using both their wealth and wisdom to try to selflessly make the world a better place.
I just checked the numbers and indeed, relative amount of money spend on philanthropy seems to be increasing[1][2], I couldn't find any global numbers though.
1. https://www.charitynavigator.org/index.cfm?bay=content.view&...
2. https://www.nptrust.org/philanthropic-resources/charitable-g...
Re: Jack Ma to Retire from Alibaba
#3It ain't working that bad so far. I mean we have increasing gap, but the 0.0001%, which arguably is pretty smart, is in the end using both their wealth and wisdom to try to selflessly make the world a better place. I just checked the numbers and indeed, relative amount of money spend on philanthropy seems to be increasing[1][2], I couldn't find any global numbers though. 1. https://www.charitynavigator.org/index.cfm?…
A Chinese company is probably a bad example since their real wages have been increasing, but do you think relative charity might be increasing because the rich keep getting richer and the poor poorer? More people need help and the rich feel the pain less.
Re: Jack Ma to Retire from Alibaba
#4It ain't working that bad so far. I mean we have increasing gap, but the 0.0001%, which arguably is pretty smart, is in the end using both their wealth and wisdom to try to selflessly make the world a better place. I just checked the numbers and indeed, relative amount of money spend on philanthropy seems to be increasing[1][2], I couldn't find any global numbers though. 1. https://www.charitynavigator.org/index.cfm?…
A Chinese company is probably a bad example since their real wages have been increasing, but do you think relative charity might be increasing because the rich keep getting richer and the poor poorer? More people need help and the rich feel the pain less.
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.
Re: Jack Ma to Retire from Alibaba
#5>Among China’s biggest companies, Alibaba is viewed as one of the firms with the deepest ranks of management talent.
Claim going perpendicular to experience of every Alibaba employee I met.
A person who was singlehandedly running both business development and operations for all of Aliexpress has left the company after 5 years without a promotion.
The co has a reputation for squeezing work enthusiasm out from even most spirited people around.
Re: Jack Ma to Retire from Alibaba
#6>Among China’s biggest companies, Alibaba is viewed as one of the firms with the deepest ranks of management talent. Claim going perpendicular to experience of every Alibaba employee I met. A person who was singlehandedly running both business development and operations for all of Aliexpress has left the company after 5 years without a promotion. The co has a reputation for squeezing work enthusiasm out from even mos…
It’s not at all unusual for senior execs to rarely get promoted, since there are so few roles to promote them into. Look how long Sheryl Sandberg has and will be COO of Facebook.
Re: Jack Ma to Retire from Alibaba
#7>Among China’s biggest companies, Alibaba is viewed as one of the firms with the deepest ranks of management talent. Claim going perpendicular to experience of every Alibaba employee I met. A person who was singlehandedly running both business development and operations for all of Aliexpress has left the company after 5 years without a promotion. The co has a reputation for squeezing work enthusiasm out from even mos…
It’s not at all unusual for senior execs to rarely get promoted, since there are so few roles to promote them into. Look how long Sheryl Sandberg has and will be COO of Facebook.
The thing is, the guy was a no name "overseas business development manager" for all 5 years. He was one of first foreigners in the company.
Re: Jack Ma to Retire from Alibaba
#8Earlier quoted context omitted.
A Chinese company is probably a bad example since their real wages have been increasing, but do you think relative charity might be increasing because the rich keep getting richer and the poor poorer? More people need help and the rich feel the pain less.
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.
http://archive.fortune.com/magazines/fortune/fortune_archive...
Summary quote:
Buffett is not cutting his children out of his fortune because they are wastrels or wantons or refuse to go into the family business -- the traditional reasons rich parents withhold money. Says he: ''My kids are going , to carve out their own place in this world, and they know I'm for them whatever they want to do.'' But he believes that setting up his heirs with ''a lifetime supply of food stamps just because they came out of the right womb'' can be ''harmful'' for them and is ''an antisocial act.'' To him the perfect amount to leave children is ''enough money so that they would feel they could do anything, but not so much that they could do nothing.'' For a college graduate, Buffett reckons ''a few hundred thousand dollars'' sounds about right.
That’s in 1986, so the equivalent figure is more like a million bucks and change today.
Re: Jack Ma to Retire from Alibaba
#9I hope he's able to make a positive impact on education!
Re: Jack Ma to Retire from Alibaba
#10It ain't working that bad so far. I mean we have increasing gap, but the 0.0001%, which arguably is pretty smart, is in the end using both their wealth and wisdom to try to selflessly make the world a better place. I just checked the numbers and indeed, relative amount of money spend on philanthropy seems to be increasing[1][2], I couldn't find any global numbers though. 1. https://www.charitynavigator.org/index.cfm?…
A Chinese company is probably a bad example since their real wages have been increasing, but do you think relative charity might be increasing because the rich keep getting richer and the poor poorer? More people need help and the rich feel the pain less.
The gap is increasing but the poor are overwhelmingly getting richer, not poorer.
I'm talking about in real terms, standard of living has gone up across the world for decades, even as the population has grown.