Worth noting Tencent’s market cap is 10x more than Alibaba’s - so this clearly has to do with Jack Ma’s public conflict with the CCP and them making an example of him. Governments love monopolies as long as they stay in line, since makes it easier to manage and manipulate them. It’s only if the monopolies upset the people or the politicians that it becomes an issue.
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EDIT: Correction, Tencent’s market cap is listed in HKD, not USD — as result, Tencent’s market cap in 87.7% more than Alibaba’s — NOT the 10x listed above. Link to sources here:
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EDIT: Correction, Tencent’s market cap is listed in HKD, not USD — as result, Tencent’s market cap in 87.7% more than Alibaba’s — NOT the 10x listed above. Link to sources here:
https://news.ycombinator.com/item?id=35341846