Both Baba and JD posted Q3 earnings after market hours so I thought I shed some thoughts on both the results quickly since it’s still fresh in my head. As I am heavily vested in both of them, I had a vested interest in following both of their earnings announcement and also listened to both the conference calls. Let’s take a look at the comparison across their key unit economics that matters. Annual Active Customers Baba’s global annual active customers reached 1.24 billion in this quarter, out of which 953m is Chinese consumers in China and 285m is overseas consumers. The company added 62m active customers in this quarter alone and their long term goal remains to achieve 2 billion active customers by 2030. JD, on the other hand, grow it’s annual active customers to 552 million, which is up 25% year on year. Both are market leaders in the same competitive space in China and a few other sectors like logistics so it...