[HN Gopher] Jack Ma's Bund Finance Summit Speech
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       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]
        
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       (page generated 2020-11-10 23:02 UTC)