Recently, news of Jack Ma vacationing in Spain frequently trended, and his wealthy lifestyle is enviable. However, the comments section of the video is filled with sarcastic remarks, similar to the accusations two years ago after that speech, though the outcry is much less than before.
This inevitably reminds one of a question I saw on a Q&A platform a month after the Bund Financial Summit two years ago (Note: actually less than two years): Has Jack Ma stepped down from the altar? Perhaps Jack Ma's disappearance in public opinion over the past two years is the best response to this.
In the past two years, Jack Ma has paid a heavy price for his 'reckless words'. The path to Ant Group's IPO is still a long way off, Alibaba's stock price continues to decline, and its market value has dropped by more than 75% at its peak, equivalent to a reduction of over 4 trillion. At the same time, the university he had high hopes for, Hupan University, was also closed, which is undoubtedly a heavy blow for Jack Ma, who is keen on preaching, as the channel for establishing top business resources has disappeared.
State media also provided a conclusive evaluation: there is no era without Jack Ma, only an era of Jack Ma.
Subsequently, the state launched the strictest internet anti-monopoly investigation in history, strictly banned internet financial enterprises, introduced the national policy of common prosperity, and placed technological innovation at the core of economic development. The starting point for all this was Jack Ma's speech.
Perhaps some may ask, does Jack Ma's speech really have such a significant impact? Today, we will revisit the 'Waterloo' incident that Jack Ma encountered, as well as the true reason for his early retirement.
The reason why Ant Group can attract such great attention mainly lies in two aspects. First, Ant Group possesses efficient financial technology and a unique 'data pool', making big data and cloud computing crucial for its business. Many financial institutions do not have this technological advantage. Second, the mission of banks, apart from making profits, also involves stabilizing the financial system. The data from banks can not only reflect individual user situations but also provide feedback on industry development status, playing a crucial role in the development of corporate and government users.
However, Jack Ma's speech exposed a tendency of Ant Group: attempting financial innovation and penetrating deeper into the economy. This undoubtedly raised alarms at higher levels.
Jack Ma has multiple identities, one of which is a capitalist. Jiangsu, Zhejiang, and Shanghai are his strongholds, and the entire internet industry is almost within his sphere of influence. The second role is that of a president, specifically the president of Hupan University. This school aims to cultivate business elites, and these elites will become Jack Ma's connections after graduation.
Two years ago, I wrote this: 'Among the internet technology companies that have developed in China over the past twenty years, I truly admire only two entrepreneurs, one is Jack Ma and the other is Ren Zhengfei. They established ecological enterprises and made outstanding contributions to industry reshaping and business model exploration. Alibaba has driven the development of numerous small and medium-sized enterprises, having a profound impact on multiple industries; Huawei has promoted the development of China's electronic information industry. In contrast, other internet giants or technology giants, despite their large size, focus more on their own profits and are unable to drive the development of the entire industry.'
However, two years later, my view has changed. I believe Jack Ma's retreat may be the best arrangement. He will ultimately receive an objective evaluation, and finding solace in nature and staying away from the disputes of the world is not necessarily a bad thing for him.
