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Alibaba's six-way split, Disney cuts its metaverse team, Substack's raise & more | E1708
This Week in Startups
The CCP and Shareholder Value in China
Alibaba generated around 35.9 billion in revenue in the quarter ending in December, which was up 2% year over year. Jack Ma made being a Chinese founder and a billionaire super cool and he became famous - unusual compared to other people coming out of there. He was more popular than Xi Jinping, certainly. People really thought he was a genius. They thought he was the next Bill Gates, you know, Steve Jobs; that was a major threat to somebody like Xi Jinping.
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