Article: Jack Ma’s Double-Whammy Marks End of China Tech’s Golden Age

Article - Media, Publications

Jack Ma’s Double-Whammy Marks End of China Tech’s Golden Age

Bloomberg, 14 April 2021

(Bloomberg) — The full implications of Beijing’s rapid-fire moves against Jack Ma’s internet empire in recent days won’t be apparent for weeks, but one lesson is already clear: The glory days for China’s technology giants are over.

The country’s government imprinted its authority indelibly on the country’s technology industry in the span of a few days. In landmark announcements, it slapped a record $2.8 billion fine on Alibaba Group Holding Ltd. for abusing its market dominance, then ordered an overhaul of Ant Group Co. On Tuesday, regulators summoned 34 of the country’s largest companies from Tencent Holdings Ltd. to TikTok owner ByteDance Ltd., warning them “the red line of laws cannot be touched.” Continue reading “Article: Jack Ma’s Double-Whammy Marks End of China Tech’s Golden Age”

Tip: TikTok New Major Naked Short Victim?

Tip

TikTok Owner’s Value Exceeds $100 Billion in Private Markets

ByteDance Ltd.’s valuation has risen at least a third to more than $100 billion in recent private share transactions, people familiar with the matter said, reflecting expectations the owner of video phenom TikTok will keep pulling in advertisers despite the Covid-19 pandemic.

Comment: This is absolute bullshit and no with a brain should believe it.  This company is probably going to be driven into the ground by a group that has shills and others in place. This is also what China is worried about and this is why Xi and Trump will be talking about naked short selling soon.