Alibaba made many mistakes, must have courage to admit it: Jack Ma

In a rare memo to employees, Alibaba Co-founder Jack Ma said the company has made many mistakes in the past. "We must not only have the courage to admit and correct yesterday's problems...but also make reforms for the future," he said. Notably, Ma had publicly criticised Chinese regulators in October 2020, following which his firm Ant Group's listing was derailed.