What made Jack Ma quit

Meanwhile the fallout from the incident has led to Ali's market capitalization shrinking, as well as the closure of the Lakeside University founded by Jack Ma. Why did such a remark lead to such serious consequences. Because Ma's idea seriously undermines the existing financial system, like Alipay's chanting and chanting is essentially the bank's credit card and loan services, but the bank does not have Ali's big data as well as the ability to analyze the data, and can not form a set of highly efficient data operation and management. If the innovative model is adopted, the traditional banking industry will not be able to beat Ali Group's financial services.

Because the state is directly controlled, it can stably support the operation of the economy. It has an irreplaceable role in the life of each of us, including the operation of enterprises. Banks are part of the national economy and can safeguard the interests of the majority of people, but private companies like Ant Financial Services do not have such a function.