Jack Ma, the founder and former executive chairman of Alibaba Group, the e-commerce giant in China, is one of the wealthiest and most influential people in the world. He was also one of the same most outspoken and controversial figures in China, who often faced the wrath of the authorities for his opinions and actions.
In October 2020, Ma made a speech at a financial forum in Shanghai, where he slammed China’s financial system and regulators, and called for reforms and innovation. The speech angered the Chinese government, which soon initiated a series of investigations and crackdowns on Ma’s businesses, including Alibaba and Ant Group, the fintech arm of Alibaba.
Ma then disappeared from the public eye for several months, sparking speculations and rumours about his location and condition. He reappeared in January 2021, in a video message to a charity event, where he said he was “fine” and “working hard”. He also made a few other appearances in 2021, such as meeting with teachers and students, and attending a court hearing.
However, Ma has largely kept a low profile since then, and has not made any major announcements or statements about his businesses or future plans. He has also reportedly resigned from the board of directors of Alibaba, and reduced his stake in the company.
But Ma is not done with his entrepreneurial ambitions yet. According to a recent report by Bloomberg¹, Ma has invested in a new company called Hangzhou Xunxi Digital Technology Co., which was registered in October 2020, around the same time as Ma’s controversial speech. The company is said to be a smart manufacturing platform, which uses advanced technologies such as cloud computing, artificial intelligence, and big data, to improve the efficiency and quality of manufacturing.
What is Hangzhou Xunxi Digital Technology Co.?
Hangzhou Xunxi Digital Technology Co. is a new company that is part of Ma’s vision to transform China’s manufacturing sector, and make it more competitive and innovative. Ma has been a vocal advocate of the “new manufacturing” concept, which he first proposed in 2016, at the World Economic Forum in Davos. He said that the new manufacturing model would use the internet and data to connect the supply and demand sides of the market, and create customized and personalized products for consumers.
The company has a capital of 10 million yuan ($1.4 million), and Ma owns 50% of the shares. The other shareholders include Simon Hu, the former CEO of Ant Group, and Eric Jing, the former chairman of Ant Group. The company has also applied for several patents related to smart manufacturing, such as intelligent quality inspection, intelligent packaging, and intelligent equipment.
The company has successfully launched its first two prototype satellites, KuiperSat-1 and KuiperSat-2, which have been conducting extensive testing of the end-to-end communications payload and network. The company has also achieved a breakthrough in optical inter-satellite link (OISL) capabilities, which enable the satellites to communicate with each other using laser beams, forming a mesh network in space. The company has demonstrated 100 Gbps optical links between its prototype satellites, ensuring that OISLs will be operational on the first production satellites, slated for launch in the first half of 2024.
What are the challenges and opportunities for Ma’s new venture?
Ma’s new venture is a sign of his resilience and determination, despite the challenges and setbacks he faced in the past year. Ma has not given up on his dreams and passions, and is still pursuing new opportunities and innovations. He is also still one of the richest people in the world, with a net worth of $52.1 billion, according to Forbes.
Ma’s new venture, however, is not without risks and uncertainties. The company will have to face the competition and regulation of the Chinese market, as well as the scrutiny and pressure of the Chinese government. The company will also have to prove its viability and profitability, and win the trust and support of the consumers and investors.
Ma’s new venture is also a reminder of his legacy and impact, as one of the most successful and influential entrepreneurs in history. Ma has created and led some of the most iconic and valuable companies in the world, such as Alibaba, Ant Group, and Taobao. He has also inspired and empowered millions of people, especially the young and the poor, to pursue their dreams and aspirations. He has also contributed to the social and economic development of China and the world, through his philanthropy and advocacy.
Ma’s new venture is also a testament to his spirit and character, as a visionary and a leader, who is not afraid to challenge the status quo and embrace change. He is also a fighter and a survivor, who is not easily deterred by difficulties and obstacles. He is also a learner and an innovator, who is always looking for new ways to improve and grow.
