Rebirth 2010: I taught Mr. Lei how to make a mobile phone

Chapter 951 Desperate Measures: Old Ma Fires the Cannon (Part 1)
"To be honest, I struggled with whether or not I should talk about these things here today."

But our generation has one responsibility we cannot escape: that is, we must think about the future and pave the way for it.

Although the world offers us many opportunities for development, there are only one or two truly crucial opportunities, and I believe we have now reached the most critical moment.
Over the years, I have been fortunate to hold many international positions, and the following ideas are the result of discussions and exchanges with scholars, economic experts, and practitioners from all over the world.

Anyway, I'm almost at retirement age, so I might as well speak freely in this setting and, as a 'non-professional,' share some perhaps immature, or even laughable, opinions. Please take them with a grain of salt.

Old Ma's opening remarks were consistent with his usual speaking style; he immediately raised the bar, capturing the audience's attention and making everyone eager to know what he would say next.

The contrast between his subsequent self-deprecating humor and his words brought smiles to the faces of the guests in the audience, who felt that Lao Ma was truly a master of conversation.

But in the room, only one person maintained a solemn expression throughout.

When Chen Mo heard Lao Ma begin to layer on more and more armor, he slowly sat up straight.

Because he knew that the more casual the words, the more likely it was that the guy was about to tell the truth!
Today? Will you still unleash your full firepower and bombard the entire field?

Chen Mo's gaze was sharp as he stared intently at the stage, and the entire venue seemed to hold its breath at that moment.

"For a long time, we seem to have fallen into a kind of inertia of thinking—always emphasizing 'aligning with international standards,' blindly following the standards of a certain country, and taking 'filling the domestic gaps' as the ultimate goal."

But what I really want to say is not to adapt to or fill the gaps in anyone's life, but to connect with the future, fill the voids in the future, and define the rules for tomorrow!

If we keep repeating what others say and keep going around in circles on topics set by others, we will lose not only the present, but also our entire future.

When it comes to international rules, many people regard the Basel Accords as the golden rule.

But in my view, it's more like a 'senior citizens' club'—designed to address the risks posed by an aging and overly complex financial system.
Why do I say this? Because we do not have systemic financial risk, since we don't even have a system, so how can there be risk?

Therefore, what we need to build is a healthy financial system.

These words caused a stir among the audience, followed by hushed whispers from below.

Chen Mo couldn't help but gasp. He thought he was being reckless, but now, Old Ma was firing off a tirade in front of a group of bigwigs in the audience, which was no different from pointing at a monk and cursing a bald monk!
At this moment, it is no exaggeration to call Old Ma a true warrior.
Then he saw Old Ma slowly take out a handkerchief from his suit pocket, gently wipe the sweat from his forehead, and glance down at his speech.

It seems he was aware of the power of those words.

Perhaps it's true that everything is difficult at the beginning, but Lao Ma's subsequent speech on stage seemed more like a liberation of his true nature.
"Just like Alzheimer's disease and polio, the symptoms look very similar, but they are two completely different diseases. If a child takes Alzheimer's medication, he will not only get the disease of the elderly, but also many other inexplicable diseases."
I am proud to announce that just two nights ago, we internally finalized the pricing for Ant Group's upcoming IPO.

This is the first time a Chinese tech company of this size has set a price outside of New York. This is something we wouldn't have dared to imagine a few years ago, but it has happened today.

Therefore, the changes in the world are amazing!

This is my first point!

"The Basel Accords are like an 'old people's club'," "We don't have systemic financial risk because we don't have a system," "A metaphor for Alzheimer's disease and polio taking the wrong medication."

These metaphors were sharp, bold, and even bordering on provocative. Before Old Ma had even finished speaking, scattered but enthusiastic applause erupted from the audience.

Chen Mo turned his head and looked around. Most of the people clapping were the 'big brothers' and 'little brothers' behind the ants.

Sitting in the audience were many experts, scholars, and leaders in the economic field. They had rich experience and profound professional knowledge in the financial sector and were well-versed in the laws of financial development.

These people frowned and exchanged glances in hushed tones.

In their view, simply categorizing the rigorous Basel Accords as an "old people's club" is not only one-sided, but also reveals a disregard for the evolutionary logic of global financial governance.

At its core, the agreement aims to establish a prudent, robust, and internationally collaborative risk control framework, the value of which lies precisely in preventing systemic collapse—both young and old financial systems must respect risk.

To everyone's surprise, this was just the beginning. What he had just said was merely a warm-up for Lao Ma. His next speech was even more explosive.

"Secondly," Old Ma's voice suddenly rose, "Innovation requires the courage to take risks! Our generation must be prepared to pay the price!"

His gaze swept across the room, his tone growing increasingly impassioned: "Innovation will inevitably involve mistakes, but innovation without risk is the death of innovation. Controlling risk to zero is itself the greatest risk!"

During the Battle of Red Cliffs, Cao Cao linked his ships together, which was the earliest example of the "aircraft carrier" concept.

But one fire destroyed the imagination of an entire era.

We cannot allow pseudo-innovations like P2P lending to burn down the true future of digital finance!
We cannot do nothing just because we are afraid of making mistakes.
This leads to a situation where everyone is minding their own business, and each household faces no risk, but the whole situation is risky.

Third, regulation cannot just be about "controlling," but also about "monitoring"!
Actually, supervision and management are two different things. Supervision means watching your development and paying attention to your development.
Management only intervenes when there is a problem.
Good innovation is not afraid of regulation, but it is afraid of being regulated by yesterday's methods. We cannot manage airports with the same methods we use to manage train stations, and we cannot use yesterday's methods to constrain the future, as this will stifle innovation!

It's like dancing in shackles, trying to survive under a magnifying glass—that's wrong!

If Taobao had been honest and followed the rules back then, it would never have survived.

I used to say, 'If banks don't change, we'll change the banks,' and now it seems we have indeed brought about some changes.

Therefore, I believe that banks need to change their pawnshop mentality!

That is, the essence of finance is credit management, and we must accept and rely on the credit system.

Everyone knows that if you borrow 10 yuan from a bank, you'll be a little panicked;
Borrowing 1000 million yuan would make both you and the bank a little nervous;

Borrowing 10 billion yuan? Don't panic at all, the banks will be the ones panicking.

Another habit they have is that they always like to lend to good companies that don't need money, which has turned many good companies into bad ones. This has led to diversified investments, and having too much money has also caused a lot of trouble.

At this moment, Xu Pi, the coach of Evergrande, unconsciously looked away from the audience, looking embarrassed, as if he had been shot for no reason.

Meanwhile, Chen Mo was idly drawing a simple sketch in his notebook.
(End of this chapter)