. >> crawford del prete, hans tung, and zia daniell wigder. they spun it off without talking to yahoo! or softbank. that discussion is next. ♪ >> i'm emily chang and this is "bloomberg west." now that alibaba has filed, what's next? how does it measure up when you pitted against other tech giants like apple, google, and facebook? cory johnson is still with me as well as hans tung, crawford del prete on skype from boston and zia daniell wigder. this is basically the paypal of china that he started under alibaba and he decided to spin it off without talking to softbank or yahoo!. it is still not part of them ended dramatically changed the value of the group. >> it may have dramatically added risks to alibaba. the notion the way that they look at the responsibility to shareholders, they are already once removed because it is a chinese company that cannot fundamentally be owned by u.s. investors. add to that, the ceo of the company, possibly the board, we don't know, just decided to take this massive asset and give it to someone else with no recou

cory johnson is still with me as well as hans tung, crawford del prete on skype from boston and wigder.ellically the paypal of china that he started under alibaba and he decided to spin it off without talking to softbank or yahoo!. it is still not part of them ended dramatically changed the value of the group. >> it may have dramatically added risks to alibaba. that they the way look at the responsibility to shareholders, they are already once removed because it is a chinese company that cannot fundamentally be owned by u.s. investors. add to that, the ceo of the company, possibly the board, we don't know, just decided to take and give it asset to someone else with no recourse to u.s. shareholders. they kind of undid that and now they only pay part of the offering. there's nothing to suggest they cannot do it again. that precedent, something they aied to do yo year-and-a-half ago. >> they cite the heavy reliance on alipay. trusted?maw b be who's to say he will not do it again? >> back in 2005 when yahoo! made the investment, jack was expect yahoo!.m there was no support from yahoo! and ess