Ma Yun about the financing of the original bubble: Ali was $5 million that year has been sky high price, now no 100 million dare not say.
On Oct. 19, Mr. Ma said the current wave of venture capital is fading, with many start-ups undervalued by 70%, but the remaining 30% is the real value.
Ma Yun said that when Alibaba started its business, it felt like a huge sum of money when it could raise $5 million, but today, less than $100 million feels embarrassed to go out and talk to others.
So the retreat of the venture capital craze today should be a good thing for the whole industry. "Blow out the sand and see the gold. Now is the time to see the real gold, the real talent, the real technology."
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