How much has Alibaba lost over the years? Let's do the math:
- Ele.me 66.5 billion ❌
- Evergrande Football 1.2 billion ❌
- Suning.com 20 billion ❌
- Youku several billion ❌
- Tudou several billion ❌
- UC Browser 4.3 billion USD ❌
- Hema Fresh several hundred billion ❌
- RT-Mart ❌
Conservatively estimating losses over 150 billion RMB.
But what's the most ironic? Alibaba's core businesses—e-commerce and cloud computing—were precisely what were deemed the "dumb businesses" back in the day.
This brings a lesson for crypto investors:
The more "sexy" an investment looks (cross-industry mergers, traffic narratives), the easier it is to lose money. The more "boring" a track seems (infrastructure, protocol layers), the more it has led to BTC and ETH.
What Alibaba lost was not just money, but the obsession with the illusion that "traffic can solve everything."
In the crypto world, how many projects are repeating the same mistakes—spending heavily on marketing, ecosystems, partnerships, but the underlying protocols are a mess?
True value never comes from acquisitions; it relies on the long-term accumulation of foundational capabilities.
- Ele.me 66.5 billion ❌
- Evergrande Football 1.2 billion ❌
- Suning.com 20 billion ❌
- Youku several billion ❌
- Tudou several billion ❌
- UC Browser 4.3 billion USD ❌
- Hema Fresh several hundred billion ❌
- RT-Mart ❌
Conservatively estimating losses over 150 billion RMB.
But what's the most ironic? Alibaba's core businesses—e-commerce and cloud computing—were precisely what were deemed the "dumb businesses" back in the day.
This brings a lesson for crypto investors:
The more "sexy" an investment looks (cross-industry mergers, traffic narratives), the easier it is to lose money. The more "boring" a track seems (infrastructure, protocol layers), the more it has led to BTC and ETH.
What Alibaba lost was not just money, but the obsession with the illusion that "traffic can solve everything."
In the crypto world, how many projects are repeating the same mistakes—spending heavily on marketing, ecosystems, partnerships, but the underlying protocols are a mess?
True value never comes from acquisitions; it relies on the long-term accumulation of foundational capabilities.