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A comment on Xi Jinping personally halted Ant's IPO after Jack Ma snubbed government leaders. Parent comment

Re:Xi Jinping personally halted Ant's IPO after Jack Ma snub... by agapon on Friday November 13, 2020 @06:12PM (#25088685)
> Authoritarianism is bad for business

But it's also good for business when the business's owner belongs to a ruling clique or is very close to it or, at least, always cooperates with it.

[ Parent | on HN ]
Re:Xi Jinping personally halted Ant's IPO after Jack Ma snub... by cynusx on Saturday November 14, 2020 @11:41AM (#25093392)
Sure, a monopoly is a great business... everybody wants to be the owner of that.

The problem is... what if you are not? Even worse, what if this monopoly business is a crucial supplier for other businesses?

Now these government guys can extract all the profits from their clients because there is no other choice.

[ Parent | on HN ]