Bloomberg: Jack Ma Sees Decades of Pain as Internet Upends Old Economy

The internet and automation are not through disrupting the economy, warns Jack Ma, co-founder of Alibaba, and “society should prepare for decades of pain” – or expect conflict. In a speech to an entrepreneurship conference in China, Ma expressed frustration that no one listened to his warnings issued long before his online company became famous. “Alibaba, China’s largest e-commerce operator, spends billions of dollars to move into new businesses from film production and video streaming to finance and cloud computing,” reports Bloomberg. “The Hangzhou-based company, considered a barometer of Chinese consumer sentiment, is looking to expand abroad since buying control of Lazada Group SA to establish a foothold in Southeast Asia, potentially setting up a clash with the likes of Inc.” Education, preparation, and fair and robust credit systems that encourage innovation and small businesses can help ease the pain. – YaleGlobal

Bloomberg: Jack Ma Sees Decades of Pain as Internet Upends Old Economy

Alibaba founder Jack Ma says education, robust credit and innovation can help ease “decades of pain” as internet and automation disrupt economies
Monday, April 24, 2017
©2017 Bloomberg L.P. All Rights Reserved

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