Remember not too many years ago, when newscasters referring to billions, would say, “That’s billions with a B.”? Pity the poor millions, now merely rounding errors.
Alibaba, the Chinese e-commerce giant is the mastermind behind the world’s biggest shopping day. Singles Day- 11/11, makes the riches in Ali Baba and the Forty Thieves look like crumbs. Over 38 billion dollars worth of goods were sold this year, 1.4 billion in the first two minutes alone. That’s a lot of gold coins, bales of silk, and fine carpets. Or maybe, it’s sneakers, electronics and dog sweaters. Stuff, a whole lot of stuff.
In the Arabian folk tale a wise servant kept Ali Baba from losing his shirt in a frenzy of temptation and greed. Alibaba Inc. hopes their millions of customers are not guided by such thoughtful restraint. They’re hoping for shoppers whose heads are not as quick as their hands. Not much thinking and lots of clicking.
That’s billions with a B!