The global tech industry is a farce. There hasn't been any real innovation in a decade. It's top-down, bureaucratic, government-oriented, debt-fueled, hype-driven, risk-averse... It's not just that there is no innovation; people forgot what innovation means.

Jack Ma is right in pointing out and then proving to us how terribly financialized the world economy has become (it's not just China). The stock market has nothing to do with the economy, it's financial (and political) theatre.