[jonathannat]

Actually no, this marks the beginning the decline of power for Alibaba and the rest of the Chinese megatech companies like tencent and baidu.

The chinese government goal for the next 5-10 years is stability, control and state companies, not innovation nor private sector growth. They fear the end of CCP. That's why the recently 5 year plan stresses stability, and doesn't set a growth goal

That's why they cracked down on Hong Kong and basically gave up a conduit of western capital/talents as well as letting Hong Kong citizen's wealth escape abroad.

That's why they are becoming alarmingly nationalistic and lashes out on US/EU politicians and encourages its citizens to boycott foreign brands like H&M.

That's why they are building artificial islands in the south asia sea despite Vietnam/Phillipine's angry protests, to shore up their maritime power.

[kolbe]

I think it’s more likely the companies will thrive, but that the CCP will keep them on a tight leash. Jack Ma will be marginalized and replaced with a CCP insider. The company will continue to be a monopoly with de facto support from the CCP. I think the only reason they’re even in the current predicament is that Ma publicly insulted other well-connected financial firms, and Xi started to believe that Ma was stepping out of line, and wanted to make an example of him. Alibaba itself is too important to China, but Ma is mostly expendable.

[ksec]

Just to expand on this a bit.

>Jack Ma will be marginalized and replaced with a CCP insider.

Jack Ma is an CCP insider. I think it would be better described as "trusted" CCP insider.

Alibaba ( And Tencent ) already has those CCP insider within the company. ANT less so before, but will now surely get it if that is not already the case.

[jpgvm]

Jack Ma had already stepped away from Alibaba. Which is also why the crackdown isn't that harsh on Alibaba itself but is rather focused on ANT which Ma is much more actively involved with. Additionally ANT is the point of contention as the CCP finds anything that muddles with credit or deposits to drastically undermine the iron fist on monetary policy.

I agree in broad strokes that tech firms will thrive now. This fine shows both the intent and the level of severity of policy now which were both previously unknowns. Market hates unknowns and often very pessimistically prices in risk.

[mahkeiro]

Jack Ma retired completely from Alibaba in 2018....

[justicezyx]

How can small corps survive when Alibaba and Tencent bullying people around?

Why stability is conflicting with innovation? Are you saying that somehow the innovation has to be destabilizing the society? That's never the case in the human history. Any innovation make human more united and more understand and easier get across each other.

[pjc50]

It is always the case that any kind of change or growth is destabilizing. The most stable state is not to grow, after all.

Usually the benefits outweigh the disadvantages, but there's no point pretending that there are never any individuals or groups who lose out as a result of an innovation.

[kolbe]

This is not true. Plenty of innovations have destabilized the world. Look at all of WW1’s weaponry. Look at Facebook allowing mass brainwashing to rip the United States apart.

But more to the point, even if it were true, the CCP isn’t interested in the stability of humanity. They’re interested in the stability of their own power.

[yeetman21]

building artificial islands (creating conflict) and having a goal of stability (not conflict) are opposites. you are contradicting yourself

[SXX]

Actually it's not. For instance cleptocracy of Russia was ever trying to sell "stability" to the masses while creating conflicts in foreign policy. Apparently it's essier to sell this BS of being protectors of stability by creating image that world is full of enemies whose only goal is to destoy your homeland.

CCP regime is different, but I guess it's the same playbook. 1984 in action.