During its Singles’ Day promotion last year, Alibaba sold $25 billion worth of goods—up 39% from the year before. (Compare that with the “record breaking” $6.6 billion sold in the U.S. on Cyber Monday of 2017.) Not content to dominate the world’s largest e-commerce market, Alibaba has expanded aggressively outside China and in other sectors, including cloud computing and food delivery; revenue in fiscal 2018 rose 58% over the previous year. Concerns over the retirement of founder and chairman Jack Ma have dissipated; the juggernaut is poised to succeed without him.
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The move signals a likely shift in focus from China to India.
Those who can work dangerously long hours, he says, "have found their passion beyond monetary gains."
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"If you want to join Alibaba, you need to be prepared to work 12 hours a day, otherwise why even bother joining."
The government is restricting the activities of people with poor credit scores.