Alibaba Group Holding Ltd (NYSE:BABA) will be cooperating with the Chinese government in the same manner Facebook Inc (NASDAQ:FB) and Google Inc (NASDAQ:GOOGL) does. It’s counter-intuitive to say Jack Ma had any other option but giving the state officials access to information regarding some transactions, according to FOX. The nature of the data harvesting and the key points of interest of the Chinese government haven’t been mentioned.
“Most governments are focused on obtaining this sort of information, not necessarily intellectual property, but surveillance information. The big difference between say the US and China is the fact that the US doesn’t turn around and give it to one of the US companies so that they can knock it off,” said CrowdStrike CEO George Kurtz.
Alibaba Group Holding Ltd (NYSE:BABA) is a unique company in the Chinese environment as it did not pursue doing business with the government, so it’s a fully private entity. This announced disclosure should not affect how Alibaba Group Holding Ltd (NYSE:BABA) operates and handles information, although caution is welcomed when performing purchases through the company’s platforms.
“You have to be careful, you have to vigilant. It’s a dark alley on the internet and you never know where your information’s going to go. It’s probably already been stolen, so the fact that’s with Alibaba may not mean anything at this point,” added George Kurtz.
It will be a little annoying to know that someone’s probably eyeing your activity on the internet, but Alibaba Group Holding Ltd (NYSE:BABA) is far from being the first company to give surveillance information. Also, it’s highly unlikely that anyone of us will be directly affected by the latest news. So, this is just a thing to note and possibly remember, but not actually something that can be changed or amended, especially considering that Alibaba Group Holding Ltd (NYSE:BABA)’s least desirable plan is to battle with the Chinese government.
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.