Why does HKEx say that Ma Yun's Ali partner system is wonderful?

Where does the concept of partner come from? Ali put forward the concept of "partner" at the celebration party of Alibaba's 10th anniversary in 2009. Ma Yun announced that the company 18 founders collectively "resigned", and Alibaba entered the partner era from the founder era. To be honest, I was puzzled when I saw some open letters from founders, because the resignation letter said "Resign from the position of founder". The founder itself is not a position, but more of a person's identity in the company, an honor, a symbol and a label. Can these "resign"? Looking at the years after the founder resigned, the actual power of the founder of 18 who still works in the company is even greater. Most of them became powerful people, but they really became "partners".

Of course, the original definition of "partner" may not be completely equivalent to the "partner" in the current "partner system", but at least in 2009, Ali was already considering how to strengthen control over the company through the "partner system".

Another explanation for Wei Zhe's resignation is that another important thing happened in 20 10, and Wei Zhe resigned. For a long time, Wei Zhe's "taking the blame and resigning" has been puzzling. Ali declared: In order to maintain the value of customer first and the principle of good faith, in 20 10, Alibaba B2B Company retired about 0.8% of more than 1000 China supplier customers suspected of fraud, and CEO Wei Zhe and Chief Operating Officer Li Xuhui resigned.

In the eyes of outsiders, Wei Zhe's excessive punishment is inevitable, which leads to various interpretations and speculations. If we think of the Alipay equity dispute one year later, there is another interpretation: In order to prevent Ma Yun from losing control of the company, all hidden dangers must be eliminated, and Wei Zhe is the biggest hidden danger. Why do you say that? Since 20 10 and 10, Yahoo's voting rights have increased to 39%, making it the real largest shareholder of Alibaba. Yahoo's seats on the board of directors have increased to two, that is, Yahoo and Alibaba can appoint two directors and a Softbank. Break the original balance of four seats. And if Wei Zhe is still in Alibaba, joining the board of directors will become an unknown variable, and Ma Yun may be dismissed. Of course, no one knows how likely this is. On the other hand, Wei Zhe was also the only executive in Ali who could connect with international capital except Ma Yun and Cai Chongxin. Coincidentally, the supplier fraud incident triggered the fuse, forcing Wei Zhe to leave.

Wei Zhe is not the founder and Wei Zhe is not a partner. The root of the hidden pain of control right

Ali didn't give up the "partner system" and repeatedly claimed that it was "institutional innovation" because Ma Yun himself didn't want to lose control of the company. Why does Ma Yun attach so much importance to control? Look down. Ma Yun 1995 founded China Yellow Pages and worked hard to start a business. Not long after the situation was opened, competitors sprang up like mushrooms after rain, especially similar businesses under Hangzhou Telecom. Moreover, the name is also "China Yellow Pages". Hangzhou Telecom has money and resources and is doing the same thing. Unbearable, Ma Yun finally decided to cooperate with Hangzhou Telecom. Ma Yun and his team hold 30% of the shares, and Hangzhou Telecom holds 70%. However, this cooperation soon became problematic. As a result, Ma Yun left China Yellow Pages and gave his shares to an employee who started a business together.