When I opened the video comment section, most of the comments were sarcastic, criticizing his statements as no different from those made two years ago at the Bund Financial Summit, the only difference being that the uproar this time is much smaller.

This reminds me of two years ago, almost at the same time, when someone asked on a Q&A platform: 'Has Jack Ma stepped down from the altar?' Perhaps Jack Ma's silence over the past two years is the best answer to this question.

In these two years, Jack Ma has paid a huge price for his 'reckless words'. The IPO plan for Ant Financial has yet to be restarted, Alibaba's stock price has fallen sharply from its peak, with its market value shrinking by more than 75% at its lowest, equivalent to evaporating 4 trillion RMB. Meanwhile, the Lakeview University, which Jack Ma had high hopes for, has also closed down. For someone who is keen on preaching, this is undoubtedly the biggest blow, as this university was originally a key platform for him to establish top business resource channels.

In the evaluation of official media, a conclusion has already been given - 'There is no era without Jack Ma, only Jack Ma in the era.'

Jack Ma's series of experiences is closely related to his remarks in that speech. Behind all this is the country's initiation of the strictest internet anti-monopoly investigation in history, a crackdown on the internet finance sector, and the introduction of the common prosperity policy, while placing technological innovation at the core of economic development.

Some may ask: Does Jack Ma's speech really have such a big impact?

Today, let’s review Jack Ma's 'Waterloo'-like speech and the real reasons for his early retirement. Ant Financial's interest rates are significantly higher than those of banks, and banks are not technically inferior to Ant Financial. So, why has Ant Financial stood out?

There are two reasons:

First, technological advantage. Ant Financial, leveraging big data and cloud computing technology, can provide users with efficient financial services. By analyzing users' consumption habits and behaviors through big data, Ant Financial can establish precise risk control models, and Sesame Credit is precisely achieved through these technologies. Many traditional financial institutions do not have such technological advantages.

Second, the mission of banks is different from that of Ant Financial. The main task of banks is not just profit; they also have to maintain the stability of the financial system and play a central role in the national economy. As a purely commercial company, Ant Financial does not bear such responsibilities; its goal is financial innovation and profit, and this innovation is bound to penetrate deeply into the financial system, challenging the status of traditional banks. This has clearly attracted high-level attention.

From a strategic perspective, the role of banks in the national economy is irreplaceable, while Ant Financial is merely a commercial entity. In Jack Ma's speech, he openly expressed the intention of Ant Financial to carry out financial innovation, which undoubtedly touched a nerve with regulators.

Jack Ma is not just an entrepreneur; he also serves as the president of Lakeview University, which trains business elites and has actually accumulated a large amount of business resources for Jack Ma. Two years ago, I wrote this paragraph, which may easily spark controversy, but I still firmly believe to this day:

"Among the independent internet technology companies that have emerged in China in the past twenty years, I truly admire only two entrepreneurs - Jack Ma and Ren Zhengfei. The 'ecological enterprises' they established profoundly changed the industry landscape and had a far-reaching impact on upstream and downstream industries. In contrast, although other internet giants are large in scale, they are mostly focused on their own profits rather than driving the development of the entire industry."

Based on this reason, two years ago I thought that Jack Ma should not be completely denied, nor should he be forced to 'retire'. But two years later, I believe everything is for the best.

Jack Ma will receive a more objective evaluation, and his choice to retire from the public eye and enjoy a peaceful life may not be a bad thing.