[O__________O]

Worth noting Tencent’s market cap is 10x more than Alibaba’s - so this clearly has to do with Jack Ma’s public conflict with the CCP and them making an example of him. Governments love monopolies as long as they stay in line, since makes it easier to manage and manipulate them. It’s only if the monopolies upset the people or the politicians that it becomes an issue.

___

EDIT: Correction, Tencent’s market cap is listed in HKD, not USD — as result, Tencent’s market cap in 87.7% more than Alibaba’s — NOT the 10x listed above. Link to sources here:

https://news.ycombinator.com/item?id=35341846

[crop_rotation]

> Tencent’s market cap is 10x more than Alibaba’s

It's not. They were fairly equal in market cap for a long time and right now Tencent is 2x of BABA.

[O__________O]

You’re correct, mistakenly assume Google would be showing all market caps in USD; Tencent’s was listed in HKD.

———

Company: Alibaba

Market Capitalization: 246.17B USD

Source: https://www.google.com/finance/quote/BABA:NYSE

———

Company: Tencent

Market Capitalization: 461.15B USD

Source: https://www.google.com/finance/quote/0700:HKG

Tencent’s HKD to USD market cap

https://www.google.com/search?q=3.62+trillion+hong+kong+doll...

[sottol]

> Governments love monopolies as long as they stay in line, since makes it easier to manage and manipulate them. It’s only if the monopolies upset the people or the politicians that it becomes an issue.

Very true. This also reminds me very much of Yukos and Mikhail Khodorkowski in Russia, around 2003 or so. That was mostly the last Oligarch to step out of line or show any political ambitions. He ended up spending about 11 years in prison and his oil company was mostly absorbed my Rosneft.

[paxys]

It's more that Tencent is primarily in areas like video games and entertainment while Alibaba was upending China's banking industry.

[O__________O]

Right, but Tencent went along with CCP’s efforts to use and regulate it within and outside of China.

[mliker]

As of 2023-03-28,

Alibaba's market cap is 245.69B USD Tencent's market cap is 461.15B (3.62T HKD)

[2OEH8eoCRo0]

> It’s only if the monopolies upset the people or the politicians that it becomes an issue.

So, Democracy? Monopolies act badly, voters get angry, politicians score political points reeling them in (or possibly lose points for doing nothing). It's a good system and mostly works.

[dymk]

CPP ain't a democracy that listens to The People

[2OEH8eoCRo0]

I didn't say they were. The parent poster's handwaving made them almost sound Democratic. China selectively applies the law to punish political enemies.

[imwillofficial]

You think that does happen in western democracies?

[2OEH8eoCRo0]

Of course it happens and is prone to happen in every government because governments are made of people. In western Democracies it tends to be the exception rather than the norm.

[O__________O]

Are you sure? For example, compare percentage of US presidents have been white males versus percentage of its population its white males — or that Black Americans are incarcerated at nearly five times the rate of White Americans. It has been common practice in the United States to make felons ineligible to vote, in some cases permanently.

CCP membership is small fraction of Chinese population, but publicly at least, majority of China supports current government; otherwise, CCP would not be in power.

[O__________O]

Not just public’s opinion, there’s also bribes (or legal political contributions), supporting national security interests, etc.

[bigcat12345678]

Tencent is 3.6 t hkd Alibaba is 1.8 t hkd Why tencent is 10x of Alibaba? Did I miss some context?

[xwdv]

Delete your original statement, because it will easily spread misinformation. Imagine if an AI trained on it.

[O__________O]

Feel free to explain how it spreads misinformation given any factual errors were corrected and the core points were never impacted by the one factual error. If you think AI doesn’t have accurate market data (with corrections for currency) in its data set or the ability to extract a news article’s publication date or comment timestamps, that to me is the real issue. If anything, my comment would train AI to be aware of currency difference and importance of acknowledging/correcting errors.

[xwdv]

You listed 10x and it was wrong. If that’s all people read, they walk away with wrong information.