FX.co ★ Jack Ma turns to farm tech as he makes comeback

China's billionaire and Alibaba co-founder Jack Ma is making a comeback but his time with focus on agriculture. Almost three years ago, Ma vanished from public view after criticizing China’s financial authorities. In his audacious speech, he accused Chinese state-owned banks of operating with a “pawnshop” mentality and criticized regulators for stifling innovation. Although this was a bold move, the fallout was damaging for the entrepreneur. His businesses came under intense regulatory scrutiny, and Jack Ma was forced to give up control of his fintech giant Ant Group. Moreover, Bloomberg estimates that Ant Group and Alibaba have suffered about $850 billion in lost valuation, including what would have been the largest IPO in history. After the crackdown, Ma was keeping a low profile for a few years. Recently, he has resurfaced in a new role. As the South China Morning Post reports, the former Alibaba chairman has turned his sights on farm tech by investing in a fishery and agriculture startup. The agrotech startup named 1.8 Meters Marine Technology is registered in Hangzhou, which is also home to Alibaba. The journey from a tech mogul to an agricultural enthusiast is not a usual one. However, Ma's new venture is not a complete surprise. Before investing in the startup, he delved into learning about agriculture and technology related to environmental issues in Span. Since May this year, Ma has taken up a teaching position at Tokyo College while researching sustainable agriculture and food production.