---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/37654898.md"
description: "Looking back on those days at Alibaba, nothing has changed over the years. Behind the aggressive goals are distortions in management and execution, coupled with an extremely unhealthy market. After subsidies, it's a mess, even triggering regulatory intervention and collective punishment."
datetime: "2026-01-08T08:52:17.000Z"
locales:
  - [en](https://longbridge.com/en/topics/37654898.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/37654898.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/37654898.md)
author: "[明灯大师](https://longbridge.com/en/profiles/15214504.md)"
---

# Looking back on those days at Alibaba, nothing has…


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