How Chinese Tech Giant Alibaba Lost Its Mojo

WSJ Tech News Briefing

The Wall Street Journal

Tech News, News

4.3 • 1.7K Ratings

🗓️ 7 December 2023

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

Nearly a decade ago, it seemed like the sky was the limit for Alibaba. Much more than an e-commerce company, Alibaba was a major player in digital payments, entertainment and cloud computing. But in 2020, Alibaba’s business started to turn. A regulatory crackdown, plus changing dynamics among Chinese consumers, meant Alibaba’s grip on the market was starting to slip. WSJ China tech editor Liza Lin joins host Alex Ossola to talk about what happened to Alibaba, and what it will take to right the ship. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is brought to you by Krakhan.
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0:40.0	Welcome to Tech News Briefing. It's Thursday December 7th. I'm Alex Oscela for the Wall Street Journal. Today we're talking about two big tech companies with very different trajectories.
0:45.0	First there's Google. It's launching its new AI system called Gemini, its long-awaited answer to chat
0:50.9	GPT. W.S.JJ reporter Miles Krupa tells us what it means for the company, its customers, and its competitors.
0:58.0	And then there's Chinese tech giant Alibaba.
1:02.0	After years of dominating China's e-commerce market,
1:05.0	its business prospects seem to have taken a downturn.
1:08.0	W.S.J. China tech editor Lisa Lynn
1:11.0	joins us to talk about why the company that was once a poster child for Chinese innovation
1:15.0	has struggled to keep up with changing consumer habits.
1:21.0	But first, as we mentioned in our TMB Tech Minute last night,
1:25.0	Google says it has developed a new AI system
1:27.6	it says is more powerful than any currently on the market.
1:31.0	The software, known as Gemini, will power a number of Google's consumer applications.
	...

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