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I think the Chinese authorities just decided that Ant is not a very socially useful business https://t.co/UDZDv3RIJ5
— tyro (@DoubleEph) December 27, 2020
Risk has two sides. One side is that government controls its risk to avoid “too big to fail ”, the other side is that the initial investors face their risk to lose their huge return. Your risk is the opperside of mine https://t.co/qTU0Vpbcw1
— 宋 文洲 (@sohbunshu) December 27, 2020
No longer China’s most valuable company, Alibaba has erased almost all its stock gains this year, just days after Chinese regulators signaled a change in their posture toward the e-commerce behemoth and its finance affiliate, Ant Group.@keping @xieyuxyhttps://t.co/SZRzPZDbFL
— Jonathan Cheng (@JChengWSJ) December 28, 2020
Honestly, I have zero sympathy for the investors. Zero.
— Christmas Spirit Balding 大老板 (@BaldingsWorld) December 27, 2020
Don't get me wrong what Beijing is doing is punitive and probably personal/political.
Investors knew exactly the risks they were running sending their money to China. You dance with the devil.... https://t.co/3j6s6n6td1
When a company gets too big for its boots—or a founder too vocal for their own good—China steps in with a 'rectification' plan: https://t.co/aPUzrFtl9p
— Jon Russell (ทำไมฝรั่งเขียนชื่อภาษาไทย) (@jonrussell) December 28, 2020
Two months ago, investors were on the cusp of a massive windfall from what would have been the world's largest IPO.
— BloombergQuint (@BloombergQuint) December 28, 2020
Now, the hundreds of millions of dollars invested with Ant Group are in jeopardy after China ordered the company to return to its roots.https://t.co/cOVnQhgeN6
“The Communist Party is the end-all and the be-all in China. It controls everything” https://t.co/6gmM5JAr4Z
— hussein kanji (@hkanji) December 28, 2020
Chinese regulators summoned executives from Ant and asked them to return the company to its origin of being a payments services provider https://t.co/IbdeOLB5Kg via @markets
— Lulu Yilun Chen (@luluyilun) December 27, 2020
“While the service handled $17 trillion of transactions in one year, online payments have largely been loss-making.” https://t.co/3i0iWEBpVh
— Jorge Guajardo (@jorge_guajardo) December 27, 2020
Chinese authorities blasted Ant for what they said was poor corporate governance, disdain toward regulators’ compliance requirements, and engaging in regulatory arbitrage https://t.co/o0R8EJE1IJ
— Bloomberg (@business) December 27, 2020
Ant shows #China risks. FinTech turning from world’s largest IPO to nightmare on regulation from Communist Party. There is nothing that Beijing doesn’t control & anything that does appear to be gyrating out of its orbit is going to get pulled back quickly. https://t.co/un8amH3DLk pic.twitter.com/Fyd6n89OAm
— Holger Zschaepitz (@Schuldensuehner) December 27, 2020
Chinese regulators to Ant Group: We're going to need you to rectify your behavior, comply with our rules, get out of the personal lending, insurance and wealth management businesses and stop playing regulators off one another.@xieyuxyhttps://t.co/1DtqXIkDkU
— Jonathan Cheng (@JChengWSJ) December 28, 2020
“The hard part is figuring out “how much of the recent regulatory moves against Ant and Alibaba is politically based, how far it will go, and when it will be over,” https://t.co/vJSJGQ12Bh
— Bill Bishop (@niubi) December 28, 2020
There's no reason to be a fan of the party-state, so much of its ire towards Ma is that it sees new competition from a separate wing of capital. But can you imagine any American president having the guts to set these kinds of regulations on any Silicon Valley start up? https://t.co/3NGLBuufJY
— giorgio (@giorgiomomurder) December 27, 2020
Reason why one should always pay attention to an autocratic person or institution. Because if they have power to flex, they will flex it. This episode shows once again that Chinese regime eventually owns every single business on Mainland. #ANT $BABA #AntGroup https://t.co/br3QubiNmG
— Ashish Dave (@ashishdave) December 27, 2020
Which govt said this? "Authorities also blasted [Company] for sub-par corporate governance, disdain toward regulatory requirements, and [using] its dominance to exclude rivals, hurting the interests of its hundreds of millions of consumers." https://t.co/ucydaL3Mmp
— Scott Kupor (@skupor) December 27, 2020
Thing is, Ant never would have become so overwhelmingly large in the first place without years of government support—and now that it’s starting to grow out of control, the government has to take apart its own creation. A real modern day Frankenstein story. https://t.co/aSCFeBGpuv
— Taisu Zhang (@ZhangTaisu) December 28, 2020
China lays out 'rectification' plan for Jack Ma's fintech empire Ant #FinTech #AntGroup
— Theodora (Theo) Lau - 劉䂀曼 (@psb_dc) December 28, 2020
cc @SimonCocking @LizLum @RAlexJimenez @bornonjuly4 @Xbond49 @MatthewSekol @MaryMWisniewski https://t.co/DO40gOY2Dx via @techcrunch
China lays out ‘rectification’ plan for Jack Ma’s fintech empire Ant https://t.co/tP4AEBdP0T
— John Rampton (@johnrampton) December 28, 2020
China lays out #rectification plan
— Spiros Margaris (@SpirosMargaris) December 28, 2020
for #JackMa’s #fintech empire #Ant https://t.co/Sog8Qu74da @ritacyliao #China #regulation @techcrunch pic.twitter.com/1wSWmbFKDr
China lays out ‘rectification’ plan for Jack Ma’s fintech empire Ant via Rita Liao https://t.co/AEHQXib9Cr #ML #AI #Analytics #Automation #BigData pic.twitter.com/fKhFjkWpVL
— Dr. Gerald Bader,PhD (@gerald_bader) December 28, 2020
No one is too big! Should act as a gentle reminder for many fintechs to follow regulations and importance of going by the book.
— pj (@BeingPractical) December 28, 2020
China Orders Ant Group to Revamp Its Business https://t.co/w5o4rmLwHN
Capital markets & #Regulation!
— Dr Efi Pylarinou (@efipm) December 28, 2020
Are the investment banks involved in the #IPO, at all accountable for not highlighting this kind of risk?
A confirmation bias at scale?
China Orders #Ant Group to Revamp Its Business https://t.co/cVrhu5ewXs @Xbond49 @SpirosMargaris @psb_dc
#AntGroup gets humiliated but #PBOC raised no new issues. Could have been worse.@psb_dc @thepsironi @efipm @BrettKing @alvinfo @BetaMoroney @lexSokolin @spirosmargaris @ursbolt @jimmarous @leimer @sbmeunier#fintech #banking #innovation #technology
— Richard Turrin (@richardturrin) December 27, 2020
https://t.co/JUaVc0nyly
The story of #bigtech and #superapp will be one to watch in 2021 - not just China but beyond.#FinTech
— Theodora (Theo) Lau - 劉䂀曼 (@psb_dc) December 27, 2020
cc @davidjmaireles @thepsironi @Clagett @TheRudinGroup @JimMarous @stessacohen @dionlisle @UrvashiPrakash https://t.co/Mm64wKErXK
Quite the smackdown of Ant by China's central bank today: "unsound" governance, "indifferent" to the law, "contempt" for compliance requirements.https://t.co/IAXi07ImvO
— Raymond Zhong (@zhonggg) December 27, 2020
China orders Alibaba founder Jack Ma to break up fintech empire https://t.co/cInjizHg9Y
— Fabio Chiusi (@fabiochiusi) December 28, 2020
https://t.co/RsMFhIa6Fm
— WhipLash (@WhipLash347) December 28, 2020
This is huge @GhostEzra any hints to what this means?
I’m sorry but this entire episode is wild. https://t.co/3WG0QbNFlR
— ST. (@seyitaylor) December 27, 2020
Learn out. China lays out 'rectification' plan for Jack Ma's fintech empire Ant https://t.co/YlrpB82EAc via @techcrunch #tech #digital #data #privacy pic.twitter.com/xFVmx5bm3Q
— Kohei Kurihara -DataPrivacy for Fighting Covid-19- (@kuriharan) December 29, 2020
#Finance #Government China lays out ‘rectification’ plan for Jack Ma’s fintech empire Ant: What a whirlwind holiday for Jack Ma and his fintech empire. The People’s Bank of China, the country’s… https://t.co/Ai8mNbcsr2 | https://t.co/mfR4u1I3JG | https://t.co/mfR4u1I3JG pic.twitter.com/2DlTszJV17
— eStream Studios (@eStream_Studios) December 28, 2020
big news from China: China orders Alibaba founder Jack Ma to break up fintech empire https://t.co/rsmSM3yLgD
— NICK COULDRY (@couldrynick) December 28, 2020
China orders Alibaba founder Jack Ma to break up fintech empire https://t.co/CewiFSuyTB .... Told you so. The same will happen to the rest of the beloved #China tech & media names (“sensitive industries” is a #CCP catch-all). #Alibaba #AntFinancial #BABA #Tencent #Baidu #tech
— Emma Muhleman CFA CPA (@Emma_cfa) December 29, 2020
China orders Alibaba founder Jack Ma to break up fintech empire https://t.co/J5FBqutO6k
— Tactical Tech (@Info_Activism) December 29, 2020
“China orders Alibaba founder Jack Ma to break up fintech empire”
— Brian Roemmele (@BrianRoemmele) December 29, 2020
As I predicted with my clients in 2010.
This is a wave that will circle the world.
I advise: self divest now, or it will be done for you. https://t.co/67R8AMt1NW
“The party has once again reminded all private entrepreneurs that no matter how rich and successful you are it can pull the rug out from under your feet at any time” - @niubi https://t.co/JwyYEzleEC
— Carl Minzner (@CarlMinzner) December 29, 2020
Ya tenemos noticia de la semana:
— Sergi de Pablos ?? (@sdepablos) December 28, 2020
"China orders Alibaba founder Jack Ma to break up fintech empire
Central bank says Ant Group governance is unsound and tells it to rectify ‘illegal activities’"https://t.co/G1Hk54Hjuq
China orders Alibaba founder Jack Ma to break up fintech empire https://t.co/oNI33aWa8T
— Anonymous Operations (@AnonOpsSE) December 28, 2020
Nearly half of Tesla's sales in 2021 should come from China. Tesla doesn't own its factory in Shanghai. It's on a 50yr lease with high production goals to be passed by 2023. $TSLAQhttps://t.co/CGXNe16rWU
— Motorhead (@BradMunchen) December 29, 2020