China CCP Dealing with its Tech Billionaires

[Husky_Khan]

So this has been going on for a while in China... but I don't think there's been a dedicated discussion on it but it's the general topic of how in the past few months the CCP has been really turning the screws on its own powerful multinational corporations and the billionaires who control them and are often their recognizable public faces. The most recent story of this months long trend is how a Chinese regular just smacked Alibaba with a 2.8 billion dollar fine due to antitrust issues.

Chinese regulator imposes $2.8 billion fine on Alibaba

China on Saturday issued a record antitrust fine of nearly $2.8 billion on e-commerce giant Alibaba, the latest in Beijing’s ongoing efforts to clamp down on tech companies. China’s State Admi…

thehill.com

Jack Ma founded the lucratively successful tech company (among others) but last October he criticized the Chinese government and thus brought his companies under far closer scrutiny ever since then, and Jack Ma himself had disappeared from the public spotlight for weeks at a time.

 

[Abhorsen]

While this is bad for china, it's good for the US. The further China moves from capitalism (and issuing arbitrary fines is one such example), the weaker they'll get.

 

[Cherico]

While this is bad for china, it's good for the US. The further China moves from capitalism (and issuing arbitrary fines is one such example), the weaker they'll get.

um our tech companies are completely out of control right now.

I think instead of celibrating this we should probally watch carefully and see what we can learn. I think its very likely that we will have no choice but to reign in our own tech companies, and this is a useful test case. We can see how the general economy works after this, look at the impact and make a more informed decision when we finally do reign in our tech companies.

 

[Bear Ribs]

I'm not under the impression this is China reining in their billionaires. This is China reining in Jack Ma specifically, for the crime of criticizing China.

 

[Culsu]

Yes, China has been extremely heavy-handed with all its celebreties/business leaders the moment the government even had the slightest inkling they were stepping out of line. It's a miracle that most of them haven't set up permament residences with heavy security outside the country by now.

 

[PsihoKekec]

Many have bolt holes abroad, but the problem is that most of their capital is tied in their China holdings, so they have to play nice with CCP

 

[Aldarion]

Considering what Big Tech is doing to the West, this is a good thing. They need to be held in line, or they will create a line.

 

[Free-Stater 101]

Considering what Big Tech is doing to the West, this is a good thing. They need to be held in line, or they will create a line.

The thing is that it goes both ways, you think our Tech companies are bad now? Give the Democrats a cudgel to knock websites out and I guarantee you Parlour and other conservative places will be fined and proclaimed guilty of every trumped up charge bought up.

 

[Aldarion]

The thing is that it goes both ways, you think our Tech companies are bad now? Give the Democrats a cudgel to knock websites out and I guarantee you Parlour and other conservative places will be fined and proclaimed guilty of every trumped up charge bought up.

Isn't that what Democrats are trying to do anyway? I vaguely remember several such cases happening already.

 

[Sir 1000]

The thing is that it goes both ways, you think our Tech companies are bad now? Give the Democrats a cudgel to knock websites out and I guarantee you Parlour and other conservative places will be fined and proclaimed guilty of every trumped up charge bought up.

The left is already doing this, so i don't see much of a diference tbh. If the likes of twitter and facebook were taken down several pegs losing parlor would be an acceptable trade imo.

 

[Free-Stater 101]

The left is already doing this, so i don't see much of a diference tbh. If the likes of twitter and facebook were taken down several pegs losing parlor would be an acceptable trade imo.

Your taking away a knife and giving a shotgun, the difference is its the same situation bottomline, worse outcome.

 

[Sir 1000]

Your taking away a knife and giving a shotgun, the difference is its the same situation bottomline, worse outcome.

I don't think we are talking about the same thing? The article mentions fines and stopping them from shutting alibabas competitors out of deals and such. Things i take to mean as anti monopoly stuff and more regulations. It's absolutely possible to wreck big techs assholes without screwing over everyone else. I wasn't talking about section 230 if that's what you thought, but in using other tools to fuck them.

 

[Bassoe]

While this is bad for china, it's good for the US. The further China moves from capitalism (and issuing arbitrary fines is one such example), the weaker they'll get.

Sure, maybe if we worship our billionaires even harder the Invisible Hand Of The Free Market will bless us by letting some of the wealth trickle down. Hasn't worked yet, but that's just cause we haven't been trying hard enough.

 

[LordsFire]

Sure, maybe if we worship our billionaires even harder the Invisible Hand Of The Free Market will bless us by letting some of the wealth trickle down. Hasn't worked yet, but that's just cause we haven't been trying hard enough.

It's a lack of free market functionality that's causing a problem in the tech industry right now.

 

[Bassoe]

On a related note, have this ridiculous Roger Garside article (pastebin copy) demanding WW3 to protect the chinese billionaires from the PRC. It used to be that the CIA asset propagandists at least had the common sense to focus on the human rights of foreign plebeians that native plebeians could actually empathize with instead of people that we wish our intelligence agencies were doing the same to.