Jack Ma, renowned as the mastermind behind Alibaba, one of China‘s largest e-commerce platforms, is making a surprising shift in his business focus. Recently, Ma launched a new venture in the prepackaged food industry. This move is a significant pivot from his established realm of digital commerce.

Demand for precooked meals has surged since COVID

The inception of Ma’s new company, capitalized at 10 million yuan (about $1.39 million), marks a fresh chapter in his career. It’s fascinating to observe this transition, especially considering his step back from Alibaba’s board in 2020. While he remains a key influencer in Alibaba as a “partner,” his latest endeavor is quite a leap from his e-commerce legacy.

This foray into the food sector isn’t just a random pivot; it reflects a keen business acumen. The demand for precooked meals has surged in China, largely due to pandemic-induced lifestyle changes. By tapping into this growing market, Ma is aligning with current consumer trends.

The backdrop to this venture is China’s increasingly strict regulatory environment, particularly in the tech sector. This might have influenced Ma’s decision to diversify. His time abroad, with stints in Japan, Europe, and Southeast Asia, seems to have broadened his perspective, especially in agriculture and aquaculture. For instance, his visit to Kindai University’s aquaculture research facility in Japan and his investment in an aquaculture startup demonstrate his growing interest in this area.

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(Via)

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China has acquired ‘Golden Shares’ in a couple of domestic subsidiaries of the tech giant Alibaba Group Holding Ltd, strengthening its control over the company. Beijing is also proposing to get similar shares in Tencent Holdings and other tech giants, revealing its plans to sway the power equation of technology companies in the country. Other firms which already have such golden share arrangements include subsidiaries of TikTok owner ByteDance, Kuaishou Technology, Weibo, etc.

‘Golden Shares’ are a type of share that gives its holder veto power over the company’s major decisions, even though he or she may not be a majority shareholder. In the case of Alibaba Group, the government has acquired a minority stake of about 1% which comes with special management rights. The government purchases such Golden Shares in tech giants through government-backed funds or state-run companies. It then appoints a government representative to the board of directors with veto power to change any major decision taken by the company. 

The Alibaba group has been a target of a severe crackdown by the regulatory authorities over the past few months. Apart from Alibaba, several other homegrown technology giants like Tencent, Didi Global Inc, etc also faced the government’s wrath. During the two-year regulatory crackdown, hefty fines and penalties were imposed on tech giants, which erased more than $1 trillion in the market value of these firms. 

With the zero covid policy and the subjugation of the major tech industries, the economic structure of China has worsened over the years. The restrictions and censorship on E-sports alone have wiped out millions from the Chinese economy. 

China’s gaming revenue for 2022 stood at a whopping $44bn. With more than 655 million mobile gamers and a $24 billion market share, the government cannot afford to lose gaming and other internet and technology businesses. Thus, it seems like Beijing is now acquiring management rights in major tech giants to reform and revive the sector.  

Therefore, the plan to acquire Golden Shares and gain special management rights can be seen as a sign of revival, to end the two-year crackdown, and move past the severe censorship. 

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(Source)

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Alibaba’s co-founder Jack Ma has made a case for nations around the world including China, Japan and others to develop their own semiconductor technology in order to whittle down the U.S’ stronghold on the global chip market. The Chinese billionaire and entrepreneur made this call while speaking to students at the Waseda University in Tokyo, Bloomberg reports.

According to Jack Ma, 100 percent of the market for chips is controlled by Americans and this was as a result of the fact that they were the early movers. He also raised a fear that only brings to mind ZTE‘s recent ban by the U.S government. The Alibaba co-found wondered what would happen if the U.S chipmakers decided to stop selling. Jack Ma also elaborated on his company’s growing interest in chips which saw the e-commerce giant acquire local design-house Hangzhou C-Sky Microsystems Co. The Alibaba CEO  said he’s motivated in part by a desire to make chips that would be cheap, efficient and available to all. He said his company has invested in five semiconductor firms in the past four years.

The view expressed by Ma is similar to those expressed in the recent past by Chinese business chieftains and politicians alike. Fellow Chinese internet company Tencent Holdings’ founder Pony Ma is also envisaging a world-class domestic chip industry as tensions rise with the U.S., the global leader in cutting-edge semiconductor technology.

Read More: U.S President, Donald Trump Blocks Broadcom’s Qualcomm Takeover Bid

The action taken against ZTE may have kickstarted a revolution which could see the Chinese semiconductor industry becoming independent and viable. The feud is at the heart of Beijing’s existing plan to shell out some $150 billion over 10 years to achieve a leading position in chip design and manufacturing. In the long run, U.S companies such as Qualcomm, Broadcom, Intel and others will be the biggest losers, considering the important place Chinese companies sit in their supply chain.

(source)

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Jack Ma, is the man behind the Alibaba, as the one of China’s dominant e-commerce firm, has told to his employee that he will step down as a CEO in May. But he still to continue as executive chairman and company;s strategy promotion for oversee.

Ma said in the letter, “from the bottom of my heart, I admire the young people today the Internet is dominated by young people, give them more, bigger stage is our responsibility, it is our pleasure, but also those of us people create biggest contribution to the company’s future this year, Ali was born in the vast majority of the 60’s leader will exit management execution role, our leadership responsibility will be handed over to colleagues in the 1970s and 1980s. because we believe They know better than we the future, more ability to create tomorrow.”

Ma said, “do it yourself happy, do what you can with just like me who work today, I should do the right thing”.

Prior to the January 10, Alibaba Group announced the largest organizational change since its inception in 1999, the establishment of the 25 Division, and the original business decision-making and implementation system has been adjusted, the new system by the strategic decision-making committees by the Board of Directors and the strategic management of the Executive Committee constitute.

Ma stressed that the molding successor system based Alibaba Group, confidence in the management team in the future, “Ali’s performance made me proud, but it made me surprise growth of Ali has unique culture created a large number of unique charm of Ali as the founder CEO concessions CEO is not an easy decision, because it is likely to cause misunderstanding. especially my age, or a conventional sense, the prime of life when I have absolutely no lazy the idea, though when Ali Baba CEO is never easy, I saw Ali dreams of young people is even more beautiful than I, more brilliant, more ability to create their own tomorrow.

Ma said Ali aspires development 102 years, we have 88 years to go, there is no health, good young man succession system, we can hardly imagine that we will come to that day today is our future N leader rotation shifts in first. Alibaba has this ability, strength and responsibility well successor system building, and we have this ability to “.

As the Alibaba Group was one of the characteristics of the organization and management culture, successors system exists so far since the company was founded, its core for each level supervisor must consciously train his successor as part of the day-to-day work, their own management experience, ideas and explore the future form of management and share through words and deeds, as well as the form of “passing” transmission to the young managers to help them better growth for the next generation of the Ali Group managers.

In order to implement this system in place, the Alibaba Group established the Organization Department, focusing on the establishment of the cadre system, the cadres of the growth and development of corporate culture and heritage. Every year, the Organization Department of Alibaba Group and various subsidiaries a massive talent inventory for the future development of the company’s talent pool.

And under any of the Alibaba Group CEO candidates, Ma said, “founder CEO succession is a very difficult job, especially connected to like my character and class ‘ET’ CEO requires great courage and spirit of sacrifice. Ali fortunate few such talents, each of whom has a rare charisma and style they will give Ali into different elements and temperament, but to convince them to make such a huge sacrifice and commitment. A difficult task, which is considered more than a year to do so I’m a few months ahead of the announced departure of CEO encourage young colleagues to stand up and play, and we do not have to worry about, we are confident that announced the new CEO, in the May 10.”

May 10 of each year, Alibaba Group’s annual “Ali Day” year on this day, the company will have celebrations, held mass wedding, and open the company to friends and relatives Day, let Ali relatives and The friend approached Ali Baba, feel the spirit of Ali culture, and Ali idea to show Passing the torch. May 10 this year, to coincide with the tenth anniversary.

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