Immense validation of the Chinese system
Ten years ago, Elon Musk and Jack Ma both looked like avatars of the future.
Musk was building electric cars, rockets, satellites, and AI. Jack Ma was building Alibaba, the crown jewel of Chinaโs internet economy.
Fast forward a decade: Musk is worth $1.1 trillion.
Jack Ma was forced into silence, Ant Groupโs IPO was crushed, Alibaba lost its aura(its stock plunged by more than 60% since 2020), and Chinaโs tech sector went from world-beating to politically domesticated.
One entrepreneur was allowed to compound.
The other was reminded who really owns the scoreboard.
This is not just a story about two billionaires.
It is a story about two systems. One system lets madmen build rockets to Mars.
The other cuts down its most successful entrepreneur for flying too close to the sun.
That is why Musk became the worldโs first trillionaire.
And Jack Ma became a warning label.