Jack Ma (Alibaba) says fakes are often better than real thing

Alibaba founder Jack Ma gave his view about counterfeit products in a speech in Hangzhou, China. The Chinese billionaire gave support to protecting intellectual property, and said they have to do everything to stop the fake products, but he added that the effort to do so is complicated as he believes counterfeit goods are often better than the genuine article:

The founder and chairman of Chinese online empire Alibaba, said factory bosses were now using the internet to sell directly to consumers, giving them more choice over their purchases.

"The problem is that the fake products today, they make better quality, better prices than the real products, the real names," Mr Ma said in a speech in Hangzhou, China.

"It's not the fake products that destroy them, it's the new business models."

Source: Business Insider