The precious ant is now extremely sick as China continues to spray insecticides

China gives and China takes. Yes, the valuation of Ant Financial, which until recently was one of the world’s largest financial institutions, has been downgraded. An asymmetrical attack by the Chinese government on Ant Financial following an own goal comment from Alibaba empire founder Jack Ma has decimated the company.

A company more valued than Goldman Sachs has been taken out of the capital after the government dismantled its profitable operations. That decommissioning was savage and unmatched with licenses revoked and operations redesigned under fiat rules.

The company whose IPO was put at $300 billion in 2020 is now rated as low like $70 billion! Unfortunately for the US companies announcing the aborted IPO, they aren’t even sure if this floor is the lowest. In other words, this company can make $0 while China continues to work its magic.

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Fintech giant AntGroup Co.‘s valuation was again downgraded by global investors who bought private stocks ahead of the IPO suspended.

Boston based Fidelity Investments according to Bloomberg calculations based on filed documents, estimates for Ant have been reduced to $70 billion by the end of May. That’s less than $78 billion in June last year, and $235 billion net before Ant’s IPO was torpedoed by regulators in November 2020.

We all admire China, but things like this make you feel better living in Nigeria, where at least we have the ‘freedom’ to own property, even though we may not be where we can be as a nation. China may wake up and suspend the license of edtech companies worth billions of dollars, and empower them to become charities, after investors pour hundreds of millions of dollars into these companies. I don’t admire such high voltage searchlights on personal property because they can burn visions and energies.

There’s nothing ant-like in these numbers. Yes, Alibaba’s affiliated fintech company, Ant Group (from Alipay), generates more payment volume than Visa and Mastercard combined! Ant makes $18 trillion while the US giants bring in $16 trillion. Ant mainly operates in China, while Visa and Mastercard run all over the world!

China, why do you have to spray insecticides on a 300 billion dollar ant?

Reply to LinkedIn feedback

Comment 1: #china has a different view of economy and wealth. We will waver if we try to apply western and capitalist frameworks to assess China’s chances and China’s state policies.
A simple point seems to be that China sees no great value in a serious concentration of wealth in private pools.

Response 1: “A simple point seems to be that China sees no great value in a serious concentration of wealth in private pools.” – that is indeed the revelation. But how do you help people if companies cannot grow and offer jobs, opportunities, etc.? When companies get big, the owners are usually rewarded! I see no other way China will cut that off.

Comment 2:Jack Ma is nowhere to be seen. Jack Ma is not complaining.

Does the Chinese government spray insecticides or do the people who grow the insect harvest it?

I’m not insinuating anything. Just saying, this world where there’s no technology for us to listen publicly to the talk of these world leaders and CEOs is something else.

Respond 2: “Jack Ma is nowhere to be seen. Jack Ma is not complaining.” – how do you know he’s not complaining? When your university is renamed and taken from you. Chopped up your company, kicked you off the board, dismantled your operating licenses on your dairy cow, etc., what do you mean “Jack Ma isn’t complaining”?

Alibaba’s Ant Group (Alipay) – There’s nothing ant-like in these numbers

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