am not a financial advisor, but I can provide some general opinions for your reference. 1. Risk and safety: Generally speaking, as a mature company with a large market value, Alibaba has a long history of business model, financial data and market position, and is considered relatively stable. From this perspective, investing in Alibaba stock may be "safer" in terms of risk than a start-up. Start-ups are characterized by early stages of entrepreneurship, large fluctuations in performance, and business models that are still in the verification stage, so the risk is usually higher. 2. Growth potential and returns: Although start-ups have greater risks, if they succeed, their growth potential and returns may be very attractive; while large companies such as Alibaba may grow slower, their performance is more stable, and the possibility of dividends and capital preservation is higher. 3. Industry and policy factors: Especially in the context of changes in the Chinese and global economic environment and policy regulation, the regulatory risks and market fluctuations of large Internet companies such as Alibaba cannot be ignored. So although the fundamentals of large companies are relatively stable, they may also be affected by macro and policy risks. Start-ups may be limited by their own scale and market awareness, and their success depends largely on business model innovation and market acceptance. 4. Investment goals and risk tolerance: Choosing to invest in Alibaba or a startup also depends on your personal investment goals, time period and risk tolerance. If you prefer stable, low-risk investments, mature companies may be more suitable; if you can accept higher risks and are willing to pursue excess returns, startups may bring greater growth opportunities. In short, although stocks of mature companies (such as Alibaba) generally seem to be less risky than those of startups, all stock investments are uncertain. It is recommended that before making a decision, carefully study the fundamentals of the target company, industry development trends, and conduct a comprehensive assessment in combination with your own investment strategy. In addition, when necessary, you can consult a professional financial advisor for more targeted advice.