Timeline
when Alibaba was created(year, month!!!)
1999, April
Why did Jack Ma's decision in 2011 seem illegal to investors?
Conflict between international rules and Chinese legislation
Who founded Alibaba?
Jack Ma
Why can a duopoly be beneficial to companies?
Less chaotic competition
What is Alibaba's payment system called?
Alipay
In what year did Alipay appear?
2004
Why did the disappearance of Jack Ma become a signal for the market?
It showed the boundaries of business power
Who founded Tencent?
Pony Ma
Why is 94% market control not absolute power?
There is a government + external risks
What is Tencent's payment system called?
WeChat Pay
Was Tencent founded before or after Alibaba?
Tencent was founded in 1998, before Alibaba
Can the state be considered a “third player” in the Alibaba vs Tencent war?
yes
What job did Jack Ma have before starting a business?
English teacher
Why do users rarely leave Alipay or WeChat Pay?
Because all the necessary functions are already available in one platform.
What does Alipay do during a purchase?
it holds the money until the buyer receives the product
when Alibaba received fine(year)?
2021
What is more important for a Chinese company: investors or the government?
Government
What kind of personality does Pony Ma have?
quiet, analytical, very technical
Why didn't the companies destroy each other, even though they could?
Balance is more profitable than war
Why did WeChat Pay grow so quickly?
it is built directly into the social app
What are the 4-5 most important events between 1998 and 2020?
If the government dramatically increased fintech regulation, what strategic changes would Alibaba and Tencent have to make?
Companies would be forced to reduce risks, limit innovation in payments, and possibly refocus on services with less control over money
Where did Tencent get its first money?
personal savings + Pony Ma's investment income
Why did the companies block each other?
to keep users inside their own ecosystems
What are "Red Packets"?
digital money gifts sent inside WeChat