The Biggest IPO Ever | Planet Finance (4/6)

Although the financial industry in China is still in its infancy, 7% of Chinese people are already trading the markets, and millions more are being added every month. Western investors are also lining up to benefit from China's economic growth. For years, Wall Street gave China wide latitude to raise money on the international capital market, such as with Jack Ma's Alibaba IPO.
In 2020, when Ma also wanted to take his new company Ant Group public he no longer did so on Wall Street but wanted to do so simultaneously in Shanghai and Hong Kong. That plan strained the relationship between China and Planet Finance. By whose rules will the game ultimately be played?
In this six-part documentary series, Marije Meerman takes you to Planet Finance. Who live and work there? What language do they speak? What is the use of this planet, and what makes this financial world so attractive to so many people?
Written & directed by Marije Meerman
Research: Piet Ruig, Marijntje Denters, Maarten Mosselman, Floris-Jan van Luyn, Pingyang Peng
Cinematography: Yuling Chow, Shuxuan Mei, Joost van Herwijnen nsc, Cecile Zhang, Chuhang Ma
Sound: Kai Wang, Jiansheng Han, Tim van Peppen, Wenbin Tang, Richie Fowler, Dominic Yip
Editor: Michiel Hazebroek
Field director Hong Kong: Amy Ip
Field director Shanghai: Mijie Li
Archival research: Barbara Kist, Paula Witkamp
Visual & data design: Femke Herregraven
Motion design: Mark Visser, Jeroen Schellekens
Music: BJ Nilsen
Sound design: Tim van Peppen
Voice-over: Alice O’Connell
Colourist: Rachel Stone
Finishing: Jan Jaap Kuiper
Datahandlng: Watse Eisma
Online editor colour grading: Yannick Elferink
Producer colour grading: Marja Paeper, Remco Smit
Interns: Athena Potamianos, Julia Baud, Margeaux Abeyta, Malou Sandig
Production assistant Pieter Wibaut
Line producer: Olivier Schuringa
Line producer: ZDF/ARTE Katharina Krohmann
Executive producer: Zoë de Wilde, Julia van Schieveen
Coach tot he director: Maaik Krijgsman
Commissioning editor: zdf/arte Türkān Schirmer, Frederic Ulferts
Head editorial department: ZDF/ARTE Martin Pieper
Commissioning editor VPRO: Barbara Truyen
Thanks to Wei Wang, Jennifer Chen, Haesu Lee, Tiansi Wang, Viki Chi, Joshua Crabb, Harfun Ven, Kelvin Leung, Weijian Wang. Guohua Wu, Yizhe Liu, Christina Bao, Henry Sung, Matthew & Marina Hoyle, Gregg Griffin, Dun Lee, Maiko Yahagi, Lorant Szakacs, Sarah Hall, Andrew Sheng, Bart & Laurens Kasteleijn, Haim Bodek, Charles Liu, Andy Xie, Daryl Loo, Kerry Chan, Dermott Clancy, David Kleijwegt, Daan Wierda, Mariska Schneider, Sharon Yosef, Vian Paashuis, Brigit Dopheide, Petra Vermeulen, Marleen Stikker
Archive: NYSE Group Inc., CNBC, AN,P BUND, ScreenOcean, Pond5
Presale: VRT
Planet Finance is produced by VPRO in co-production with ZDF and in collaboration with ARTE
This series was created with the support of NPO-fonds & CoBo
© VPRO & ZDF 2023
VPRO Documentary publishes a new subtitled documentary every two weeks, investigating current affairs, finance, sustainability, climate change or politics. Subscribe to our channel, and we will be delighted to share our adventures with you!
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[@estebanur1]

So well produced, paced, originals voices kept without overlapping translators, the whole structure of the narrative, makes almost any content very digestible and asimilable. This was so interesting! Thank you!

[@v1tal_c]

Outstanding documentary series! I'm amazed with how well vpro showed the censorship issues in China. Well done!

[@lcmazza]

I've being on financial markets for a long time and I have never seen all those perspectives VPRO brought me. Fantastic work!

[@maxxlindley9425]

this is my favorite documentary channel. I like DW and Frontline too. Here in the US ,which seems to abhor the documentary and focus on Barbie and super heroes , it is good to get a different perspective from another countries' view.

[@valdomero738]

This is way better than DW.

[@BatsiraiMusuka]

DW, Frontline and VPRO. We are kindred spirits 🫱🏿‍🫲🏻

[@Raulsta1985]

DW is too Left-Wing i.e. Looney. Just full of nonsense propaganda.

[@davidanalyst671]

DW documentaries are shameless greenie global warming propaganda

[@davidanalyst671]

DW has greenie global warming propaganda in all its content. Germany is known for having subtle propaganda

[@xi7232]

Whoever made this video is a genius

[@robertely686]

Having a floor trader exclaiming that 'capitalism works for us' is sheer genius! So long as you ignore the 60% of Americans that are one pay cheque away from homelessness or all those people in the tent cities you are all geniuses

[@lawrencefalk8714]

The International Relations interpretation of Jack Ma's disappearance & IPO cancelation was that he was becoming too powerful and could then challenge the Communist Party - and that could not be allowed to happen.

[@FueledbyJohn]

Thank you for putting together such an intriguing docu-series on the world of planet finance.

[@metamoonnn]

as a retail futures trader, this series is so good

[@kendellfriend5558]

Me too. I’m retail FX and index futures trader. I really enjoyed the Ms. Watanabe episode since I’m also an econ major in college!

[@LondonFuturesTrading]

Beautiful series VPRO .

[@sumitdhiman9026]

Vpro the goat as always and so is Meerman

[@Tempestelterna]

I do love this documentary ❤❤

[@ArnaudJoakim]

Very interesting documentary!

[@adielstephenson2929]

Brilliant parallel with the dog towards the end. Well done!

[@infinite771]

Great doco 👍

[@SanjayPatel-rd1kx]

A great series. Hats off to the creators.

[@pphil56]

The whole series is award worthy. Just wow! 👏

[@mohammedsaad6868]

First comment . I expect this documentary will have more than million viewers although I haven’t watched yet 😅

[@johnsmith1474]

Only an idiot child posts "First comment" when they haven't even see the video. Absolute imbecile behavior.

[@saadbenalla3678]

Great vidéos

[@MarksmanSpecialist]

im shivering on jack ma quote, which came out like soo many years ago as a sign of a cautionary tale, and china government took it to deaf ears. look at the economic recession they are in now

[@Withnail1969]

they arent in a recession. China is forecast to grow at about 5% this year.

[@adewunmibamgbose5291]

best documentry so far; trade

[@drevil4454]

I agree with the Chinese government's decision. Let the lister carry the risk. We've all seen how stocks plummet because of greed or over valuations. Furthermore, there is a hidden message. "Do not insert yourself as a middleman!!!" The middlemen drive up prices!!!

[@robertely686]

Imagine thinking a company that answers to shareholders is a responsible or good thing. The subservience is strong here.

[@marketwizard1977]

Planet finance ❤

[@wilfredpeake9987]

I'm just listening to the retail investors, and im just amazed how so many of them have so little understanding of the overall system but still make money Just tells me that luck has a lot to do with it

[@gjspeculates]

What is the dog breed in 45:28?

[@kuronetwork920]

Wow her at the open, great vids.

[@ExoticPonyMods]

nice

[@Nat_Ryder]

China, a communist country learned to be capitalist from the US and western 1st world countries. The rules of the game on "Planet Finance" were written by those countries, just like the house rules of Vegas Casinos they are designed in favor of the house who wrote the rules. However, Chinese are born risk takers/gamblers. They learned the rules, the odds and the system quickly and seemingly the bets they placed seem to win more often than lose to the dismay of the west. So, they change the rules, they tilt the playing field, they try everything to regain the advantage but does not seem to be getting the results they expected. The game continues......

[@user-on6un8tq5f]

Abandoned buildings and lanes are on the monetary areas keep awarenesss about your own coins.

[@minority92]

Saudi Aramco is actually the largest IPO ever...

[@PremierStudyandInvesting]

Jack Ma went into hiding or worse in Oct 2021 as tech firms were scrutinized. This VPRO video was released on Aug 19th 2023 which was a Saturday. The Friday before, BABA closed at $88.06. Since that point shares have fallen ~15.5% as of January 2, 2024.

[@hylimm]

The country n its people financial health can’t be in the hand of private companies with foreign shareholders! Anything can goes wrong n no way to salvage the country!

[@RonaldoRonaldo-fi2ym]

Amazingly almost like paramount film

[@johnsmith1474]

Learn to write a sentence with proper punctuation, capitalization, and form.

[@romchiks]

So, what happened with Jack Ma? Where is he now? Does he say much?

[@marvintalesman6306]

In the US and the west, capitalism uses goverments. In China , goverment uses capitalism. Which case you prefer as a citizen ?

[@FED_RAGE]

👍👍👍

[@CuchBe]

❤

[@AFRIKTODAY]

The Chinese economy grew because of the Liberalization of the market, the reduction of capital control, Chinese people industriousness and hard work, and their thrifty savings values. Financial securitization is not a pathway to wealth but its opposite for it promotes spending, debt, and high time preference expectation that deter hardwork and rewards speculation. Jack Ma got greedy and his hubris got him in trouble. He forgot that in China, the CCP can make and change the rules as it wishes!

[@thedude2920]

WALL STREET CODE

[@AHHUAT2]

The reason Jack Ma of Alibaba Group made that speech condemning china financial regulators was because, he already been told his Ant Group IPO was called off... the IPO wasn't cancelled after he made that speech... Got it? Isn't that obvious?

[@Andrew-rc3vh]

He was getting progressively more outspoken with his speeches, so it was not just that one. He sounds like he is advising the government. I'm sure he did know prior to flying to Beijing.

[@shindersamra4020]

Biggest ipo with no assets?.

[@VictorCruz-sp3ro]

Jack Ma chose what the CCP told him to choose. Then, the CCP took it from him.

[@onkarfreshie3127]

😅China is wise to the western trade market. Hence the move to regulate their market better. 😮

[@TechnoViking__]

Good documentary. But maybe include voice translations instead of just subtitles for non English speech?

[@johnsmith1474]

And what, no sound? The tone of the native voice is 50% of the value of what they are saying thus sub titles are perfect.

[@TechnoViking__]

@@johnsmith1474 How did u come up with this arbitrary 50% value? Talkin out of thin air. Every good documentary has voice translations in addition to subtitles. Not everyone is looking at the screen all the time. Some watch it while doing a chore. I was watching it while taking a shower all by myself.

[@zackali1997]

Absolutely agree with you, voice translation will be fantastic

[@user-kpkxgtj]

I agree, it makes it easier to follow along while doing other things.

[@TechnoViking__]

Man my gf broke up with me over this argument@@user-kpkxgtj

[@wendyshoowaiching4161]

The biggest IPO is no longer billions. The starting aim is US$1 Trillion

[@rogeriolisto]

Invest in your life it worth more than money.

[@davesites]

👍🌅💸

[@andreastw3638]

Jack Ma, watch your tone lad.... 😂😂😂😂😂 Shanghai want to overthrown Beijing????? Who the hell teach you????? 🤣🤣🤣🤣🤣 if it's not broke don't fix it.... if its succeed in NYSE why not continue?? but they didnt tell u that didnt they?

[@qake2021]

✌️✌️✌️😃😃😃👏👏👏

[@Jamie-nt3eh]

Amazon answers to Jeff bezo and not other share holders!

[@poloska9471]

This is how a wise nation and society behaves. Not so egotistical as to forget about the universe and life outside oneself and one’s limited world. These dudes made their own little trading floor… that is epic. People whose eyes have seen and learned. Minds that are opened and working. An efficient society. Still, it’s only human. No perfection to be found. Just different. Now if only the western cultures could open their minds and do this, they would truly be elite, until then, just egotistical and debt ridden.

[@alessandroalessandro4656]

Sei un c******* completo e meriteresti di andare a vivere in Cina testa di abbacchio

[@alessandroalessandro4656]

Solo un polacco potrebbe essere così idiota

[@wendyshoowaiching4161]

Nice try. Ambitioners

[@uhtwehtwe4781]

Everything is in the air. No fixed place. Noneed tobuy home built on afixed place on land. No more driving on the roads so no need to care about bad weather car james snow jams and so on so on.If bad weather is coming then move to a place with good weather. because your apartment or home is flying inthe air you can shift it to any plases you like on this earth planet.freely as you wish. You will just like live like an angle. Go anywhere you want live anywhere you want in this planet earth.

[@malthus101]

97% of traders lose their money, yet every fool flapping their lips is "making money every day"... OK.

[@v.prestorpnrcrtlcrt2096]

Girl chat. No thx!!!

[@CharlesBrown-xq5ug]

Civilization may have progressed enough to conquer the second law of thermodynamics. Civilization needs to strive for this goal with synergistic interdisciplinary teams.The outcome would be perpetually changeable never gained or lost energy. There would be no loss of energy as it changes form. For example the total quantity of thermal energy in an equal pair of two thermal energy reserves with ideal insulation would remain the same regardless of how heat is distributed between the two and how often the distribution of heat between the two is changed. For example in one case one reserve could contain ice water while the other reserve contained hot water; in another case both reserves could contain tepid water. The redistribution of heat between members of pairs with the same total thermal energy would be free. Diversity, time, and energy are different atributes. Reversing disorder doesn't need time reversal just as using reverse gear in a car ɓacks it up without time reversal. The second law of thermodynamics had a distinct begining with Sir Isaac Newton's correct professional scientific observation that the heat of a fire in a fireplace always flows towards the cold room beyond. Victorian England became enchanted with steam engines and their cheap, reliable, and easy to position physical power. Rudolf Julius Emanuel Clausius, Lord Kelven, and, one source adds, Nicolas Léonard Sadi Carnot, formulated the Second law of thermodynamics and the concept of entropy using evidence from steam engine development. These men considered with acceptance [A+] Inefficiently harnessing the flow of heat from hot to cold or [B+] Using force to Inefficiently pump heat from cold to hot. They considered with rejection [A-] Waiting for random fluctuation to cause a large difference in temperature or pressure. This was calculated to be extremely rare or [B-] Searching for, selecting, then routing for use, random, frequent and small differences in temperature or pressure. The search, selection, then routing would require more energy than the use would yield. These accepted options, lead to the consequence that the universe will end in stagnant heat death. This became support for a theological trend of the time that placed God as the initiator of a degenerating universe. Please consider that God could also be supreme over an energy abundant civilization that can absorb heat and convert it into electricity without energy gain or loss in a sustained universe. The law's formulaters did not consider the option that any random, usually small, fluctuation of heat or pressure could use the energy of these fluctuations itself to power deterministic routing so the output is no longer random. Then the net power of many small fluctuations from many replicant parts can be aggregated into a large difference in temperature, pressure, or electricity's amperes and volts Heat exists as the randomly directed kinetic energy of gas molecules or mobile electrons. In gasses this is known as Brownian motion. In electronic systems this is carefully labeled Johnson Nyquist thermal electrical noise for AI readability. Hypothetically, diode depletion regions are practical sites for enabling mobile electrons energized into motion by heat to deterministically alter the electrical resistance of the depletion region according to the moment by moment direction they are carrying electricity. The thermal electrical noise is hypothetically beyond the exposed lattice charge / separation drift (diffusion) equlibrium thickness of the depletion region as thermal noise exists in a resistance path of one material. Consistantly oriented diodes in parallel hypothetically are successful electrical Maxwell's Demons or Smoluchowski's Trapdoors. The energy needed to shift the depletion region's deterministic role is paid as a burden on the moving electrons. There would therefore be usable net rectified power from each and every diode connected together into a consistantly oriented parallel group. The group would aggregate the net power of its members. Any diode efficiency at all produces some energy conversion from ambient heat, more efficiency yields higher performance. A diode array that is switched off has no energy conversion and no performance. The power from a single diode is poorly expressed. Several or more diodes in parallel are needed to overcome the effect of a load resistor's own thermal noise. A plurality of billions of high frequency capable diodes is needed for practical power aggregation. For reference, there are a billion (10^9) 1000 square nanometer cells per square millimeter. Modern nanofabrication can make simple identical diodes surrounded by insulation smaller than this in a slab as thick as the diodes are long. The diodes are connected at their two ohmic ends to two conductive layers. Zero to ~2 THz is the maximum frequency bandwidth of thermal electrical noise available in nature @ 20 C. THz=10^12 Hz. This is beyond the range of most diodes. Practicality requires this extreme bandwidth. The diodes are preferably in same orientation parallel at the primary level. Many primary level groups of diodes should be in series for practical voltage. Ever since the supposedly universal second law of thermodynamics was formulated, education has mass produced and spread the conventional wisdom throughout society that the second law of thermodynamics is absolute. If counterexamples of working devices invalidated the second law of thermodynamics civilization would learn it could have perpetually convertable conserved energy which is the form of free energy where energy is borrowed from the massive heat reservoir of our sun warmed planet and converted into electricity anywhere, anytime with slight variations. Electricity produces heat immediately when used by electric heaters, electromechanical mechanisms, and electric ligts so the energy borrowed by these devices is promply returned without gain or loss. There is also the reverse effect where refrigeration produces electricity equivalent to the cooling, This effect is scientifically elegant. Cell phones wouldn't die or need power cords or batteries or become hot. They would cool when transmitting radio signal power. The phones could also be data relays and there could also be data relays without phone features with and without long haul links so the telecommunication network would be improved. Computers and integrated circuits would have their cooling and electrical needs supplied autonomously and simultaniously. Integrated circuits wouldn't need power pinouts. Refrigeration for superconductors would improve. Robots would have extreme mobility. Digital coin minting would be energy cheap. Frozen food storage would be reliable and free or value positive. Storehouses, homes, and markets would have independent power to preserve and pŕepare food. Medical devices would work anywhere. Vehicles wouldn't need fuel or fueling stops. Elevators would be very reliable with independent power. Shielding and separation would provide EMP resistance. Water and sewage pumps could be installed anywhere along their pipes. Nomads could raise their material supports item by item carefully and groups of people could modify their settlements with great technical flexibility. Many devices would be very quiet, which is good for coexisting with nature and does not disturb people. Zone refining would involve little net power. Reducing Bauxite to Aluminum, Rutile to Titanium, and Magnideetite to Iron, would have a net cooling effect. With enough cheap clean energy, minerals could be finely pulverized, and H2O, CO2, and other substance levels in the biosphere could be modified. A planetary agency needs to look over wide concerns. This could be a material revolution with spiritual ramifications. Everyone should contribute individual talents and fruits of different experiances and cultures to advance a cooperative, diverse, harmonious and unified civilization. It is possible to apply technlology wrong but social force should oppose this. I filed for patent us 3890161A, Diode Array, in 1973. It was granted in 1975. It became public domain technology in 1992. It concerns making nickel plane-insulator-tungsten needle diodes which were not practical at the time though they have since improved. the patent wasn't developed partly because I backed down from commercial exclusitivity. A better way for me would have been a public incorruptable archive that would secure attrbution for the original works of creators. Uncorrupted copies would be released on request. No further action would be taken by this institution. Commercal exclusivity can be deterred by the wide and open publishing of inventive concepts. Also, the obvious is unpatentsable. Open sharing promotes mass knowlege and wisdom. Many financially and procedurally independent teams that pool developmental knowlege, and may be funded by many separate noncontrolling crowd sourced grants should convene themselves to develop proof-of-concept and initial-recipe-exploring prototypes to develop devices which coproduce the release of electrical energy and an equivalent absorbtion of stagnant ambient thermal energy. Diode arrays are not the only possible device of this sort. They are the easiest to explain generally. These devices would probably become segmented commodities sold with minimal margin over supply cost. They would be manufactured by AI that does not need financial incentive. Applicable best practices would be adopted. Business details would be open public knowledge. Associated people should move as negotiated and freely and honestly talk. There is no need of wealth extracting top commanders. We do not need often token philanthropy from the wealthy if people simply can be more generous if consumer commodities are inexpensive. Aloha Charles M Brown lll Kilauea, Kauai, Hawaii 96754 1 808 651 📞📞📞📞

[@johnsmith1474]

(3:28) This capitalist genius might invest in some teeth. For the record, nobody using a phone app to invest is anything but a useful pawn in a chess game played by more powerful people.

[@johnyossarian9059]

I must have missed the part where he claimed to be a genius?

[@andrewtrigg3063]

you start this with complete rubbish. THERE ARE NOT 3 BILLION PEOPLE IN CHINA. .8 billion is the current estimate.

[@hylimm]

The Chinese government did the right thing n stop this!

[@semiravdic1144]

"Whatever loans you give, ˹only˺ seeking interest at the expense of people’s wealth will not increase with Allah. But whatever charity you give, ˹only˺ seeking the pleasure of Allah-it is they whose reward will be multiplied." "Qur'an - Surah Ar-Rum 39.-th ayah"

[@sharkb8754]

This documentary is very biased and basically totally ignored the Chinese side of story, very interesting to see propaganda being delivered in this way 😄

[@ZAGIDI]

The way this channel presents their documentaries is unique and flawless. One of my favorite channels on KZbin. Keep producing them and kudos to the Team 🥷🏿🫡