[HN Gopher] Jack Ma's Bund Finance Summit Speech ___________________________________________________________________ Jack Ma's Bund Finance Summit Speech Author : ceohockey60 Score : 33 points Date : 2020-11-10 16:10 UTC (6 hours ago) (HTM) web link (interconnected.blog) (TXT) w3m dump (interconnected.blog) | sebmellen wrote: | This is surprisingly nuanced and accurate (imo). Reading this | gives me an entirely different impression of Jack Ma's | intelligence and perspective, especially after I watched his | disastrous debate/talk with Elon Musk. | | > _[The Basel Accords], more like a seniors club, is about | solving the problem of an aging financial system that has been | operating for decades, and Europe's aging system is extremely | complex. But the problem in China is the opposite: it is not a | problem of systemic financial risk, because China 's financial | sector basically doesn't have a system. Its risk is actually a | "lack of financial system."_ | jimbob45 wrote: | His description of the world's ailments is quite accurate, yes. | His prescription for them, a big data-based credit system, | seems frustratingly Chinese. Only time will tell if his | futuristic system is the right way forward though. | sebmellen wrote: | Yes, I found that proposal rather myopic and disturbing. The | concept of "big data" is so amorphous that in my mind it | stands for "totalitarian surveillance system". I really have | a hard time understanding the AI and Big Data buzzword | fetishism. | | And, though this is probably controversial to say, I know of | very few business that apply "AI"/ML to any _real_ benefit. | At least not much that couldn 't be achieved with less | complex statistical models. | tpmx wrote: | Let me introduce you to a concept called ghostwriting. | waynesonfire wrote: | I googled the Ant IPO after reading this and this came up, | | "In Halting Ant's I.P.O., China Sends a Warning to Business" | | https://www.nytimes.com/2020/11/06/technology/china-ant-grou... | [deleted] ___________________________________________________________________ (page generated 2020-11-10 23:02 UTC)