Macro Musings with David Beckworth cover image

Martin Chorzempa on China’s Cashless Revolution and the Rise of Super Apps

Macro Musings with David Beckworth

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Jack Ma and Pony Ma in 10 Cents

Pony Ma is dispositionally the complete opposite of Jack Ma, despite them both playing a similar role. He's this quiet engineer who tries to stay out of the limelight and not cause problems. And he starts off doing a lot of copycatting. In one fell swoop, Alipay goes from the dominant player in online payments to a duopoly.

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