atans1

Posts Tagged ‘Jack Ma’

How Tun saboed Jack Ma

In China on 23/05/2019 at 10:45 am

“When a foreign leader came to China and the first person he wanted to meet was Jack Ma rather than [President] Xi Jinping, you knew the company was going to be in trouble,” said a venture capitalist who has close ties with Alibaba. He was referring to Malaysian prime minister Mahathir Mohamad’s decision to visit Mr Ma in 2018 before heading to Beijing for a meeting with the Chinese president.

Venture capitalist quoted by FT

Since then Alibaba has had several run-ins with the Chinese authorities, including regulatory and IPO problems at Ant Finance.

With admirer like Tun, who needs enemies.

And he has admirers here?

— Kirsten Han trying to defecate herself and PJ out of self-made crater

— Jolovan Wham: Nothing wrong in asking Tun M to intervene in S’porean affairs

— Tan Kin Lian thinks Tun is more sinned against than sinning

Advertisements

Microsoft & Chinese workers make Jack Ma eat bitter

In China on 16/04/2019 at 4:27 am

Enabled  by US technology (See How Microsoft is subverting China), young Chinese tech workers make Jack Ma eat his words about working overtime ( In China, the 996 schedule means working 9am to 9pm, six days a week) being a “huge blessing” for young workers.

Alibaba Group founder and billionaire Jack Ma again weighed in on the Chinese tech industry’s gruelling overtime work culture on Sunday, this time calling enforced long hours “unsustainable”.

Ma’s comment followed his remarks on Thursday that working overtime could be a “huge blessing” for young workers who found careers they were dedicated to.

He was responding to a debate that has emerged in recent weeks among Chinese tech workers over the 996 schedule, which means working 9am to 9pm, six days a week. Industry workers set up a discussion group called “996.ICU” on the code-sharing platform GitHub, suggesting that anyone working those hours all the time could end up in a hospital intensive care unit with burnout.

“If you find a job you like, the 996 problem does not exist; if you’re not passionate about it, every minute of going to work is a torment,” Ma said in a post on his Weibo account on Sunday.

“No one likes working at a company that forces you to do ‘996’. Not only is it inhumane, it’s unhealthy and even more unsustainable for long periods – plus workers, relatives and the law do not approve of it,” he said. “In the long term, even if you pay a higher salary, employees will all leave.”
Ma added that companies that thought they could profit by forcing staff to work overtime were “foolish” and doomed to fail.

https://www.scmp.com/news/china/society/article/3006127/alibaba-founder-jack-ma-says-companies-forcing-staff-work

Grandpa Xi will not be happy.

Young Chinese workers are “Making America Great Again” by preventing “China from Rising”. Green cards for them, and not for Indians.

Jack Ma is a patriotic parrot

In China on 15/05/2018 at 4:29 am

From NYT Dealbook sometime back. He should remember that Xi had to beg Trump not to kill ZTE.

Jack Ma on what a trade war would cost the U.S.
The Alibaba Group co-founder asserted in a WSJ op-ed today that the U.S. risked throwing away a huge opportunity to make money in China, because his home country may soon become an enormous consumer. From his piece:
“It is therefore ironic that the U.S. administration is waging a trade war at a time when the largest potential consumer market in the world is open for business.”
Yet economists point out that China is still an offender on intellectual-property theft and restricting its market to foreign companies — even as they worry that tariffs will backfire. (The Fed is worried, too.) But Larry Kudlow has urged calm, even as he didn’t rule out tariffs coming before negotiations with Beijing.
Elsewhere in trade: While the U.S. wants a Nafta deal by next month, Mexican negotiators are still balking at some Washington demands.

GIC into margarine? And teaming up with Jack Ma?

In GIC, Private Equity on 19/08/2017 at 1:24 pm

FT reported on Friday that on Thursday, KKR, the giant US buyout firm, and GIC were reportedly coming together to pursue a £6bn bid for Unilever’s spreads business which includes brands such as Flora and I Can’t Believe It’s Not Butter. “KKR and Unilever declined to comment. GIC didn’t respond to a request for comment.”

Unilever wants to sell its spread business to focus on foods products with better margins.

Other private equity groups are planning to bid but I’m sure that TRE cybernuts will say that this is another bad move.

Then there’s a deal involving Jack Ma.

Yunfeng Financial Group backed by Alibaba billionaire Jack Ma (via Ant group), agreed to buy the Asian unit of Massachusetts Mutual Life Insurance Co which offers death benefits and annuities.

The buyer will pay HK$13 billion (US$1.7 billion) for Hong Kong-based MassMutual Asia Ltd, with about 60 per cent of that sum in cash, and the rest in Yunfeng stock, the seller said on Thursday in a statement. GIC and Ma’s Ant group are also buying into the deal.