He is expected to retain some advisory functions. But the transition to figures like CEO Daniel Zhang, and co-founder and executive vice-chairman Joseph Tsai - announced exactly a year ago - may prove to be the"gold standard" for tech-company succession, said Mr Jeffrey Towson, an equity investor and professor at Peking University."He's succeeded at what Steve Jobs, Bill Gates and Jerry Yang failed at, which is making themselves redundant," said Mr Towson.
With monthly active users of more than 750 million today, Alibaba helped to unlock China's massive consumer power, a key objective of the government as its seeks to fuel domestic demand to lessen the reliance on fickle foreign trade.There have been criticisms, however. Alibaba and its imitators are accused of fostering rampant commercialism and the selling of counterfeit goods.
Chinese e-commerce also produces mountains of packaging material, contributing to a national garbage problem. But Alibaba has continued to expand its ecosystem, pushing into cloud computing, entertainment, and a"new retail" concept - combining online ordering with brick-and-mortar stores - while its Alipay finance unit has pioneered cashless digital payments.Mr Ma already has launched a range of education initiatives.
Last month in Shanghai, he sketched out his mantra going forward with US entrepreneur Elon Musk, good-naturedly chiding him about his obsession with putting a man on Mars.- AFP
Education Education Latest News, Education Education Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooSG - 🏆 3. / 71 Read more »
Source: YahooSG - 🏆 3. / 71 Read more »