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(29-08-2021, 01:51 PM)Shiyi Wrote: China cannot do without tech companies. But it can do without Baba.
IMHO, no company is indispensable, especially in China. More so for those companies billed to be "too big to fail". Jack Ma has paid a hefty price for taking on the government.
That's the common perception, especially outside of China. But looking back there are many early signs of impending regulations/wealth redistribution even before the speech was made.
And new regulations, clearly isn't narrowly targeted towards Alibaba as well.
“If you buy a business just because it’s undervalued, then you have to worry about selling it when it reaches its intrinsic value. That’s hard. But if you can buy a few great companies, then you can sit on your ass. That’s a good thing.” - Charlie Munger