‘The era is over for big rockstars:’ How Beijing’s crackdown on Jack Ma forever changed the role of China’s CEOs [Fortune]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Fortune
Jason Wang used to be eager to talk publicly about the successful Beijing-based tech startup he founded in the mid-2010s and now runs as CEO. For good reason. Wang, who’s going by a pseudonym, is the developer of a globally competitive consumer tech product. Founding his company in China in the mid-2010s during the country’s tech boom, he felt like he could build an empire almost overnight. Wang took advantage of the country’s unrivaled supply chain infrastructure, one-billion-plus customer base, flush venture capital funding, and ultra-loose regulatory controls to build a tech startup months quicker and with a superior product than if he had launched the same company in the U.S. Silicon Valley was beginning to feel stale in comparison. “Everything moved a lot faster in China,” says Wang. And during China’s tech boom, one man—Jack Ma—was at the head of the pack. More so than his U.S. peers Mark Zuckerberg, Jeff Bezos, or Steve Jobs, the founder and CEO of e-commerce giant Alibaba a
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