and zia daniell wigder from forrester.ll be back after this quick break. ♪ >> welcome back to "bloomberg west." i'm emily chang. it's time now for the bwest byte. let me guess. it's about alibaba. >> your so smart. 18% is the number today. 16 of the 89 offices are outside of mainland china, or 18%. this f1 document is fundamentally a marketing document. they have made no mistake about it. they are selling stock. they are putting weighs in here to try to sell stock. other things required are the risks and so on. they will do everything possible to suggest that they could be a much bigger company than they are today. >> as i mentioned before, we are hearing this could happen over a matter of months but the markets are going crazy. twitter ended the day down 18% after the lockup expired. how do you expect ali baba to fair and these market conditions? >> a lot of reasons to sell, only one reason to buy. who knows all the reasons of the insiders decided to sell today. it's reasonable to suggest a lot of insiders could not wait