I never thought that I will be standing
here talking to you like this
because last year our Alibaba had a IPO
it was a great IPO and people said you
are so smart how could you make a
company like that but before the IPO a
lot of people said Alibaba is a terrible
model with a problem here and there the
founder is terrible yes that’s right I’m
a 100% made in China
I learned my English by myself and I
tried to teach myself how to programming
on computer I still don’t know why how
it works but that is not important like
all of you here
we all have expectation for the future
we all worry about the future I didn’t
have a rich father
not from you know well educate I said I
tried three times for university all
filled for the last kind I went to the
Teachers College which was considered
the third or fourth class of my city but
I think that is the best University I’ve
ever had
better than hover in a water I apply for
however for ten times all filled they
don’t want to see me terrible and I I
think that is a normal life and I
believe that it was so difficult at that
time I was so frustrated
because I taught in the university my
pay was $10 amount was not easy but I
believe that something something is
waiting for me there
and I have to work hard to prove myself
so that was the tough experience and I
never thought I was smart nobody
believed that I could be successful
because everybody say well this guy
thinks differently singer crazily and
all these think about something that
will work in 1994 discuss that I’m going
to do something called Internet and 23
of them against it it is a stupid idea
right we have never heard about Internet
and you know nothing about computer why
you want to do the computer so so what I
agree with as I said I believe it
because I saw the computer in 1994 when
I went to the USA I think this thing
could be big but I never thought it will
be fabric like today honestly people say
you’re smarter you have a big vision
1994 since you saw internet that was not
true I just want to find a job because I
cannot find a good job so I do myself so
that is the history that’s the thing and
now after 16 years we have a lot of we
have a Alibaba Group we have a team or
group we have a tarball group with an
ally pay and people see how you make it
why this make it why people cannot find
opportunities you can find opportunities
and I think people same here today
Jeb where is the opportunity I don’t
have a job I don’t have this I don’t
have a debt I remember 20 years ago I
hate a Bill Gates I say he took all the
job you know these are such a great a
Larry Page Bill Gates and every success
people they did good and why I don’t
have this chance the same question like
you later I come down myself
and luckily I win I tell you I’m lucky
to know a lot of famous people Bill
Gates Warren Buffet the Jack Welch Larry
Page Mark Zuckerberg I know all of them
I would like to share with you that
those people the difference between
those people and other people they are
always optimistic for the future they
never complain they always try to solve
the problems of the others and I think
where is the opportunity the opportunity
lie always lies in the place where
people complain some people sit there
complained you think if I can solve that
complaint that’s the opportunity that’s
what I did and I think 1994-1995
so many people in China want to sell
things abroad but there’s no choice
because the big business can’t go to the
trade fair Las Vegas fair and Germany
fair small business they don’t have
opportunity so they complete we want to
go to trade shows but they cannot get
Visa they don’t have money they don’t
relationship so I think if Internet can
help this small business it will be
great but nobody would have believed it
why Internet can help I said if if
something everybody believe it everybody
loved it
forget about that’s not at your
opportunity because where everybody
agrees why this opportunity should be
you because a lot of people don’t agree
with it and you think this is good think
carefully and find a group of people
working together and making sure the
people working with you together to live
the dreams whether investors believe it
or not whether your friends believe it
or not whether your parents believe it
or not that’s not important
you believe it your King believed it and
work day and night on this that’s all
the things happens right my invested in
earnings after 10 years they invested us
they still don’t know what I’m doing
honestly people say while you’ve jack
you have such so many great investors
yet they agree because they believe Jack
Ma can’t do something but what exactly
is doing they probably don’t understand
but we have to know we know the only
thing I tell you guys for the first
three years we do not have even one
dollar revenue from our business but why
it keeps on going ahead going forward
because I received lots of email of
thanks from the customer they say this
is such a great thing if you can keep on
doing that we cannot obtain you but this
thing’s helped us if you keep on helping
us one day you will be successful and I
believe this and I want people here so
that you know that we are at the best of
time of this century the first
technology revolution the steam the
water right in the UK very successful
after 50 years the second technology
revolution is called energy revolution
electricity after 50 years electricity
was founded business booming Internet
has only four to two years the next 30
years is the best time for us for our
young people we are lucky we are only
only like 20 or 30 years old the next
five years the best time the last 20
years is the time I called information
technology that’s the IT IP is to make
you make the big company getting bigger
and stronger and IT is to make yourself
stronger I t’s try to get something for
you but now we are entering into the new
period which I call the data technology
the data technology is dude totally
obstacle IT IT is I have you don’t have
DTS you have it I don’t have it I don’t
have to have it DT is about sharing
take responsibility PT is about a
passion for the future so we are coming
into the next 30 years of data
technology period which your parents
mean you like it which your friends may
not like it but if you believe the next
30 years is the one for purifier and by
the way at the BT period everybody is
the thing because we are stuck from the
same lines
nobody is expert of teaching there are a
lot of experts of IT they may be in
trouble
so which I would say the best the best
except you have is that you are young
don’t complain let the other people
complain those people complain those
people who still and do not always say
well I don’t have think about how you
can make things different use your own
brain to think lastly I want to share
you I learn my English I learn how to
think use my own brain when I was young
I went to Hangzhou
Western Lake you know we have a West
Lake there’s a hotel many foreign
visitors visit there and I went there
every morning 5 o’clock to practice my
English the foreign visitors come I
practice my English I don’t know why at
that time but I found everything the
foreign visitors told me are so
different from the things my parents
told me my teacher told me and the
newspaper read so since then I think
everything used my own brain to think
about it is that true is that an
opportunity inside is there anything I
can do that make the difference think
about this and then when you think about
this study do it I saw a lot of people
young people have fantastic ideas every
evening but in the morning they go to
the office thing again
make the move make the action to
everybody to any person tomorrow is a
new and believe one thing this is also
another last advice I want to give you
we have to work very hard either work
for the others or work for yourself and
I choose the way working for myself
but working for myself that means
working for the society if you really
want to work with yourself think about
the others the day DT times making sure
you help others because only when the
other have other people successful when
the other people are happy you’ll be
successful you will be happy but one
thing I would say that a lot of people
say internet is killing jobs the
technology is killing jobs but I believe
internet and technology every time the
technology create a new jobs the first
revolution of technology created more
jobs second revolution create a lot of
jobs so this time we are going to this
century for the new technology is going
to create more jobs but these jobs means
more knowledge more skills and Korean
people like I think they are so creative
when I see the cinnamon the movie and in
the mobile time especially you are so
good at making you know all I’m gaining
these are the things that people need
all kinds of entertainment and career
you have the such a wonderful
infrastructure of the mobile the next 10
20 years will be the mobile time the
mobile the data and innovation so these
things put together will be fantastic
opportunity and for what Alibaba is
doing is that we are bringing great
consumptions from China for our site
every day we have a hundred and twenty
million consumers shopping on our site
every day everything that is good online
always sold out you will never imagine
this I don’t I don’t understand why so
many people buying on shop every day but
just the coming and I think next 20
years
we’ll be at least 2 billion at least a 2
billion to 2.5 billion people will be
online shopping and that will be the
best opportunity for everybody and I
think career since you are the nation
that has the best infrastructure of
mobile and the creativity so that’s
creative something for the world for the
domestic consumers so that is why I’m
coming here not to sell things honestly
I think cell Chinese part of the career
would be sell we’ve been sold at for two
years I’m trying to come in here say
young people career created something
sell to the world sell to China that’s
the opportunity there I’m going to ask
you you have a lot yourself so much with
your business do you still have
something yeah the money people give me
the money I have is not my money this is
the money people trust on me that’s the
trust people on me so I should take the
most irresponsible ability for all the
money I invest and I do have a big
passion for future because it’s not
about how much money you will make how
much life you can change how many things
you can do that improve you know because
our mission of doing Alibaba is helping
small business doing this and
officiating and we only help the Chinese
small business there are so many Korean
small business there are so many you
know Afghanistan is a small business
normal Philippines so I think there are
a lot of things but I cannot do myself
we want to make the Internet can help
this small business so I think in my way
how can using Internet to open sesame’
for small business online
I just wonder what made you set that
goal well when I start my business in
1992 was so difficult I try to borrow
three solving US dollars from the bank’s
took me three mouths but I still cannot
get it and when I said 1994 I tried to
register I intended company I cannot do
it it’s so difficult to all the
processing and can I get the money
cannot I ran the office and then when I
started Alibaba was still very difficult
and I think big companies the government
will help foreign companies the American
market the stock market help small
business nobody help if we can create
something that using Internet help with
small business empower the small
business and make help the small
business grow strong that will be the
unique value that with the Internet can
help so that was really I think since
nobody helped me if we can help the
others will be a huge opportunity that
is the cream and that become our mission
so everybody join our company we’ll ask
him we our job our mission is to help
others doing business easy if you agree
with that working together with us
welcome if you don’t agree with it there
there are a lot of good opportunities
there and just to join them because we
think this is our mission and we’ve been
doing that for 16 years and I think we
would do
make another 86 years working on that
I do not know where I got the confidence
these days when I see the documentary I
was surprised why this guy has that is
true this funny thing today when I stud
out lover I ask like my colleague to
record and tape everything everything we
talk all the meetings with will be
within putting a whole house of tapes in
the past 16 years
we won’t record it I told my friends and
myself if Jack Ma can be successful 80%
of the people in China can be successful
too now we do not a borrow you a $1 from
the bank we do not have even one dollar
from the government we do everything
ourselves so honestly 18 founders in my
apartment
40% them are my students another 40% of
my friends so they have no choice and
when we have a hundred people well when
we start to do something all the
companies came to us and and grabbed my
people was funny that those great people
have a vision of themselves that they
always have some new ideas they were
taken away from that the other company
those people stay in the company they’re
not very smart like me we believe what
we’re doing so nobody come to a
headhunting us so we have no choice we
stay there after 10 years we’re
successful they very important is that
you believe it we believe this thing and
we see why would be it’s not out of
revenue the emails of thanks from
customers are the best revenue and also
the the employees knows wow this is
something is we can I have revenue I
told you one story I went to a
restaurant when I finish my eating I
there somebody came in with a piece of
paper say hi jack I’m a user of Alibaba
I know you do not make money so I pay
your bill for these things happen a lot
I went to a you know a bar some people
give me a cigar say thank you for your
website I know you do not make money are
just a smoke it so these things tell us
this thing is good if we keep on working
and after 10 years there really become
good
I
okay first I think nobody can conquer
the world and we only have served the
world at the serve how many people in
the other side cuz I believe if you have
a vision of your village you can do a
good business in your village if your
vision for whole career we do the
business in the whole career if your
vision in America you have a vision so
first you have to think about how big
you think and do things in that detail a
Silicon Valley was being there for so
many years and such a good
infrastructure good ecosystem
environment which is good but we should
not never always put Silicon Valley as
the example there’s only one Silicon
Valley there when I said it I put the
Bill Gates as my mod role model I put
the Warren Buffet role model I got a
more disappointing oh my god Hawk where
can I get this okay and you when you put
the robot is that big it’s very
frustrating then I think about the uncle
wah my next goal and anthalie is only my
next dog it works pretty well so I
started thinking mmm
let me serve this and one day I can
serve more people that would stick
beginning guys I tell you the day the
first week when I launched a table all
calm the Alibaba calm nobody comes to
sell nobody comes to buy because there’s
nothing to sell so in this in my office
we have seven people we buy we sell
ourselves right and then the first of
the first ten days some people start to
try to sell something we buy everything
so we buy a whole house of thing for no
use justice just people come to sell so
little by later we build up our business
little by little with good about
ecosystem of the infrastructure so if
it’s career try to be try to have silica
Valley like infrastructure you will
never have it because Silicon Valley’s
been there for I don’t know 50 years or
60 years let’s build up something on for
ourselves when the infrastructure I why
you are ancient premier why you want to
be the entrepreneur because being
entrepreneur you have to do the things
before the other people do you have to
wake up before the other people wake up
you have to be more brave than the
others so I think I don’t see and I will
tell you what people in Silicon Valley
at the my career a lot wow you have such
a wonderful infrastructure of mobile wow
you have so many creative young people
and you are in Asia this is what I think
when you’re optimistic it’s always
opportunity so I don’t want I don’t want
to try to have a Silicon Valley
infrastructure first it’s impossible
second if there is work I should have
made it we should have make us
impression not waiting for government
government it’s so difficult for them
they sometimes think kindly but there
but they are government offices we
business we have to create for ourselves
and getting support problem but don’t
rely on them that’s what I believe
because they have a more important the
whole country how to balance for
business we have to build of our own
ecosystem that’s what I think
[Music]
first I would love to go back to the
flashes I would do anything to be back
to 35 years I think I would go to China
and seeing the market there and go to
America and think about it and go back
and come back to Korea I think
opportunity is everywhere
honestly when people think about
internet is the future 10 years ago
internet was so good when nobody
believed Internet was so good now
internet is so tough because all the
smart people go to Internet so you
should go to the off ground there are so
many opportunity if you run a restaurant
if you’re really interested in running a
restaurant career using IT tech
knowledge to making sure the restaurant
is perfectly music if you want to open a
barber shop making sure you the IT tech
nology latest technology be the
difference it’s not only the high tech
that works there are a lot of business
if he’s using IT that is fantastic
so Prime Minister said I’m a genius I
don’t think I’m a genius and I would
love to be a genius but when I sit next
to Bill Gates I think I’m a genius when
I speak a Chinese he cannot speak when I
speak English well it will get with
earlier not bad you have we all have to
think opposite when I really agree with
one ms one-minute sing about is that
right is there an opportunity where
everybody against it just wait for one
minute think about so 25 years old
don’t worry any mistake is an income is
a wonderful revenue for you so I tell
myself and told my young people before
20 years old be a good student where do
intrapreneur just to learn some
experience before 30 years old follow
somebody go to a small company normally
in a big company it is good to learn
processing you are a part of a big
machine the way go to small company you
learn the passion you learn the dreams
you learn how to do a lot of things at
one time
so before 30 years old it’s not which
company you go it’s which boss you
follow it’s very important a good boss
teach you differently and before from 30
to 40 years old you have to think very
clearly were you working for yourself if
you really want to be interpreting when
you’re 40 to 50 years old you have to do
all the things that you are good at
don’t try to drop into the new area it’s
too late you may be successful but the
rate of dying is too big so 40 to 50
think about how can focus on things that
you are good at but when you are 50 to
60 years old work for the young people
because young people can do better than
you so rely on them invest on them
making sure they’re good
so when us over 60 years old spend time
for yourself on the beach sunshine right
it’s too late for you to change normally
but I business might buy a device to the
young people twenty five years old make
enough mistakes don’t worry you fall you
stand up you’re full you step enjoy it
I’m actually five years old enjoy the
show enjoy yourself first it’s not easy
to attract investment for any stata
my CFO Joseph chai and I went to Silicon
Valley for the first time 1999 to the
year 2000 we talked over 30 or 40
venture capitalists
everybody said no forget it so we gather
50 thousand US dollars from 80 fathers
which does it
and the very important thing is is that
you always have to prepare for at least
one year money before you go on the road
I agree that everyone it’s look
difficult to convince your wives your
your parents and your girlfriend to do
that but if you can convince in somebody
for the first round money no matter how
big the vision is you have to start from
the small things easy secure start to
move the first to move have to be a
little bit secure always pick up some
easy things and try to convincing those
people who trust you to raise the money
first remember one thing that’s the
secret sauce always raise money when you
have money right way don’t have money
you are in trouble don’t go out to raise
the money so when you have the money
stead of think about how can I raise
money because the winters go help always
think about prepare for the winters so
my philosophy is repair the roof while
it is sunshine wait into rings don’t
move keep it right so that is the first
run of money the bank will not give you
but it’s okay raise little the money
prove it and lit more prove it a little
more that’s everybody goes like that
well nobody can guarantee nobody can
guarantee will be successful right so I
think the only thing that can guarantee
our success is keep the passion keep
believe in the future keep on investing
the young people and keep on the mission
that helping others to effective if we
keep on that we have the chance to be
successful if we think well we are rich
enough let’s enjoy the life and now we
that will never work and now we get more
competitors all the guys entrepreneurs
if you do business you will always have
an
competition don’t worry about the
competition because your competitors
also worried by the youth right so don’t
worry competition is a very important of
fun part of the games in the business so
the competitors will never kill you you
will cure yourself by not serving your
customer better so if you ask me what
can make Alibaba go longer I want make
you guys young people join company like
Alibaba open shops on Alibaba on top of
the whole thing and then that will keep
and we help you you help us that it’s
not about helping each other and then
you will be successful that’s what I did
the first guy I respected your passion
about you graduate from the NBA and join
us data it’s good a lot of MBAs only
want to join big companies big big
managers got up MBA is good
I sent but unfortunately a lot of MBAs
to another train entrepreneurship I send
a lot of young wonderful young people to
go to NBA they were very smart before
they go to MPA but they came back they
suddenly they think like like a you know
structure guide this is no good so I
told my people forget about what you
learned in NBA using sting
I’m making sure that everything you do
is to the need of the customer and I
think it is good for MBA to be in the
startup and to raise money most of the
times the venture capitalists to give
you the money not only because of the
business plan because of the team you
have who working together with you and
who are these people
wants to experience what’s your record I
think raising money is not that
difficult today custome it’s much
there’s too much money here if people
got crazy the money the muscle everybody
everywhere the money but the thing is
that you have a good team good dream
relaxed plan and good record when you
have that I bet you’ll get the money
don’t worry about the money money follow
the people people sure to follow the
dream and the dream should have followed
the execution capability when that thing
happens the money will come okay
and the day when I was going to write a
book which I don’t know where I can
write it but the book I want to write
about is Alibaba 1001 mistakes okay so
many mistakes we have this is the best
assets we have so don’t worry about it
we’ll make mistake don’t worry about
that just a go ahead if you have a dream
[Music]
[Music]
you
[Music]
here talking to you like this
because last year our Alibaba had a IPO
it was a great IPO and people said you
are so smart how could you make a
company like that but before the IPO a
lot of people said Alibaba is a terrible
model with a problem here and there the
founder is terrible yes that’s right I’m
a 100% made in China
I learned my English by myself and I
tried to teach myself how to programming
on computer I still don’t know why how
it works but that is not important like
all of you here
we all have expectation for the future
we all worry about the future I didn’t
have a rich father
not from you know well educate I said I
tried three times for university all
filled for the last kind I went to the
Teachers College which was considered
the third or fourth class of my city but
I think that is the best University I’ve
ever had
better than hover in a water I apply for
however for ten times all filled they
don’t want to see me terrible and I I
think that is a normal life and I
believe that it was so difficult at that
time I was so frustrated
because I taught in the university my
pay was $10 amount was not easy but I
believe that something something is
waiting for me there
and I have to work hard to prove myself
so that was the tough experience and I
never thought I was smart nobody
believed that I could be successful
because everybody say well this guy
thinks differently singer crazily and
all these think about something that
will work in 1994 discuss that I’m going
to do something called Internet and 23
of them against it it is a stupid idea
right we have never heard about Internet
and you know nothing about computer why
you want to do the computer so so what I
agree with as I said I believe it
because I saw the computer in 1994 when
I went to the USA I think this thing
could be big but I never thought it will
be fabric like today honestly people say
you’re smarter you have a big vision
1994 since you saw internet that was not
true I just want to find a job because I
cannot find a good job so I do myself so
that is the history that’s the thing and
now after 16 years we have a lot of we
have a Alibaba Group we have a team or
group we have a tarball group with an
ally pay and people see how you make it
why this make it why people cannot find
opportunities you can find opportunities
and I think people same here today
Jeb where is the opportunity I don’t
have a job I don’t have this I don’t
have a debt I remember 20 years ago I
hate a Bill Gates I say he took all the
job you know these are such a great a
Larry Page Bill Gates and every success
people they did good and why I don’t
have this chance the same question like
you later I come down myself
and luckily I win I tell you I’m lucky
to know a lot of famous people Bill
Gates Warren Buffet the Jack Welch Larry
Page Mark Zuckerberg I know all of them
I would like to share with you that
those people the difference between
those people and other people they are
always optimistic for the future they
never complain they always try to solve
the problems of the others and I think
where is the opportunity the opportunity
lie always lies in the place where
people complain some people sit there
complained you think if I can solve that
complaint that’s the opportunity that’s
what I did and I think 1994-1995
so many people in China want to sell
things abroad but there’s no choice
because the big business can’t go to the
trade fair Las Vegas fair and Germany
fair small business they don’t have
opportunity so they complete we want to
go to trade shows but they cannot get
Visa they don’t have money they don’t
relationship so I think if Internet can
help this small business it will be
great but nobody would have believed it
why Internet can help I said if if
something everybody believe it everybody
loved it
forget about that’s not at your
opportunity because where everybody
agrees why this opportunity should be
you because a lot of people don’t agree
with it and you think this is good think
carefully and find a group of people
working together and making sure the
people working with you together to live
the dreams whether investors believe it
or not whether your friends believe it
or not whether your parents believe it
or not that’s not important
you believe it your King believed it and
work day and night on this that’s all
the things happens right my invested in
earnings after 10 years they invested us
they still don’t know what I’m doing
honestly people say while you’ve jack
you have such so many great investors
yet they agree because they believe Jack
Ma can’t do something but what exactly
is doing they probably don’t understand
but we have to know we know the only
thing I tell you guys for the first
three years we do not have even one
dollar revenue from our business but why
it keeps on going ahead going forward
because I received lots of email of
thanks from the customer they say this
is such a great thing if you can keep on
doing that we cannot obtain you but this
thing’s helped us if you keep on helping
us one day you will be successful and I
believe this and I want people here so
that you know that we are at the best of
time of this century the first
technology revolution the steam the
water right in the UK very successful
after 50 years the second technology
revolution is called energy revolution
electricity after 50 years electricity
was founded business booming Internet
has only four to two years the next 30
years is the best time for us for our
young people we are lucky we are only
only like 20 or 30 years old the next
five years the best time the last 20
years is the time I called information
technology that’s the IT IP is to make
you make the big company getting bigger
and stronger and IT is to make yourself
stronger I t’s try to get something for
you but now we are entering into the new
period which I call the data technology
the data technology is dude totally
obstacle IT IT is I have you don’t have
DTS you have it I don’t have it I don’t
have to have it DT is about sharing
take responsibility PT is about a
passion for the future so we are coming
into the next 30 years of data
technology period which your parents
mean you like it which your friends may
not like it but if you believe the next
30 years is the one for purifier and by
the way at the BT period everybody is
the thing because we are stuck from the
same lines
nobody is expert of teaching there are a
lot of experts of IT they may be in
trouble
so which I would say the best the best
except you have is that you are young
don’t complain let the other people
complain those people complain those
people who still and do not always say
well I don’t have think about how you
can make things different use your own
brain to think lastly I want to share
you I learn my English I learn how to
think use my own brain when I was young
I went to Hangzhou
Western Lake you know we have a West
Lake there’s a hotel many foreign
visitors visit there and I went there
every morning 5 o’clock to practice my
English the foreign visitors come I
practice my English I don’t know why at
that time but I found everything the
foreign visitors told me are so
different from the things my parents
told me my teacher told me and the
newspaper read so since then I think
everything used my own brain to think
about it is that true is that an
opportunity inside is there anything I
can do that make the difference think
about this and then when you think about
this study do it I saw a lot of people
young people have fantastic ideas every
evening but in the morning they go to
the office thing again
make the move make the action to
everybody to any person tomorrow is a
new and believe one thing this is also
another last advice I want to give you
we have to work very hard either work
for the others or work for yourself and
I choose the way working for myself
but working for myself that means
working for the society if you really
want to work with yourself think about
the others the day DT times making sure
you help others because only when the
other have other people successful when
the other people are happy you’ll be
successful you will be happy but one
thing I would say that a lot of people
say internet is killing jobs the
technology is killing jobs but I believe
internet and technology every time the
technology create a new jobs the first
revolution of technology created more
jobs second revolution create a lot of
jobs so this time we are going to this
century for the new technology is going
to create more jobs but these jobs means
more knowledge more skills and Korean
people like I think they are so creative
when I see the cinnamon the movie and in
the mobile time especially you are so
good at making you know all I’m gaining
these are the things that people need
all kinds of entertainment and career
you have the such a wonderful
infrastructure of the mobile the next 10
20 years will be the mobile time the
mobile the data and innovation so these
things put together will be fantastic
opportunity and for what Alibaba is
doing is that we are bringing great
consumptions from China for our site
every day we have a hundred and twenty
million consumers shopping on our site
every day everything that is good online
always sold out you will never imagine
this I don’t I don’t understand why so
many people buying on shop every day but
just the coming and I think next 20
years
we’ll be at least 2 billion at least a 2
billion to 2.5 billion people will be
online shopping and that will be the
best opportunity for everybody and I
think career since you are the nation
that has the best infrastructure of
mobile and the creativity so that’s
creative something for the world for the
domestic consumers so that is why I’m
coming here not to sell things honestly
I think cell Chinese part of the career
would be sell we’ve been sold at for two
years I’m trying to come in here say
young people career created something
sell to the world sell to China that’s
the opportunity there I’m going to ask
you you have a lot yourself so much with
your business do you still have
something yeah the money people give me
the money I have is not my money this is
the money people trust on me that’s the
trust people on me so I should take the
most irresponsible ability for all the
money I invest and I do have a big
passion for future because it’s not
about how much money you will make how
much life you can change how many things
you can do that improve you know because
our mission of doing Alibaba is helping
small business doing this and
officiating and we only help the Chinese
small business there are so many Korean
small business there are so many you
know Afghanistan is a small business
normal Philippines so I think there are
a lot of things but I cannot do myself
we want to make the Internet can help
this small business so I think in my way
how can using Internet to open sesame’
for small business online
I just wonder what made you set that
goal well when I start my business in
1992 was so difficult I try to borrow
three solving US dollars from the bank’s
took me three mouths but I still cannot
get it and when I said 1994 I tried to
register I intended company I cannot do
it it’s so difficult to all the
processing and can I get the money
cannot I ran the office and then when I
started Alibaba was still very difficult
and I think big companies the government
will help foreign companies the American
market the stock market help small
business nobody help if we can create
something that using Internet help with
small business empower the small
business and make help the small
business grow strong that will be the
unique value that with the Internet can
help so that was really I think since
nobody helped me if we can help the
others will be a huge opportunity that
is the cream and that become our mission
so everybody join our company we’ll ask
him we our job our mission is to help
others doing business easy if you agree
with that working together with us
welcome if you don’t agree with it there
there are a lot of good opportunities
there and just to join them because we
think this is our mission and we’ve been
doing that for 16 years and I think we
would do
make another 86 years working on that
I do not know where I got the confidence
these days when I see the documentary I
was surprised why this guy has that is
true this funny thing today when I stud
out lover I ask like my colleague to
record and tape everything everything we
talk all the meetings with will be
within putting a whole house of tapes in
the past 16 years
we won’t record it I told my friends and
myself if Jack Ma can be successful 80%
of the people in China can be successful
too now we do not a borrow you a $1 from
the bank we do not have even one dollar
from the government we do everything
ourselves so honestly 18 founders in my
apartment
40% them are my students another 40% of
my friends so they have no choice and
when we have a hundred people well when
we start to do something all the
companies came to us and and grabbed my
people was funny that those great people
have a vision of themselves that they
always have some new ideas they were
taken away from that the other company
those people stay in the company they’re
not very smart like me we believe what
we’re doing so nobody come to a
headhunting us so we have no choice we
stay there after 10 years we’re
successful they very important is that
you believe it we believe this thing and
we see why would be it’s not out of
revenue the emails of thanks from
customers are the best revenue and also
the the employees knows wow this is
something is we can I have revenue I
told you one story I went to a
restaurant when I finish my eating I
there somebody came in with a piece of
paper say hi jack I’m a user of Alibaba
I know you do not make money so I pay
your bill for these things happen a lot
I went to a you know a bar some people
give me a cigar say thank you for your
website I know you do not make money are
just a smoke it so these things tell us
this thing is good if we keep on working
and after 10 years there really become
good
I
okay first I think nobody can conquer
the world and we only have served the
world at the serve how many people in
the other side cuz I believe if you have
a vision of your village you can do a
good business in your village if your
vision for whole career we do the
business in the whole career if your
vision in America you have a vision so
first you have to think about how big
you think and do things in that detail a
Silicon Valley was being there for so
many years and such a good
infrastructure good ecosystem
environment which is good but we should
not never always put Silicon Valley as
the example there’s only one Silicon
Valley there when I said it I put the
Bill Gates as my mod role model I put
the Warren Buffet role model I got a
more disappointing oh my god Hawk where
can I get this okay and you when you put
the robot is that big it’s very
frustrating then I think about the uncle
wah my next goal and anthalie is only my
next dog it works pretty well so I
started thinking mmm
let me serve this and one day I can
serve more people that would stick
beginning guys I tell you the day the
first week when I launched a table all
calm the Alibaba calm nobody comes to
sell nobody comes to buy because there’s
nothing to sell so in this in my office
we have seven people we buy we sell
ourselves right and then the first of
the first ten days some people start to
try to sell something we buy everything
so we buy a whole house of thing for no
use justice just people come to sell so
little by later we build up our business
little by little with good about
ecosystem of the infrastructure so if
it’s career try to be try to have silica
Valley like infrastructure you will
never have it because Silicon Valley’s
been there for I don’t know 50 years or
60 years let’s build up something on for
ourselves when the infrastructure I why
you are ancient premier why you want to
be the entrepreneur because being
entrepreneur you have to do the things
before the other people do you have to
wake up before the other people wake up
you have to be more brave than the
others so I think I don’t see and I will
tell you what people in Silicon Valley
at the my career a lot wow you have such
a wonderful infrastructure of mobile wow
you have so many creative young people
and you are in Asia this is what I think
when you’re optimistic it’s always
opportunity so I don’t want I don’t want
to try to have a Silicon Valley
infrastructure first it’s impossible
second if there is work I should have
made it we should have make us
impression not waiting for government
government it’s so difficult for them
they sometimes think kindly but there
but they are government offices we
business we have to create for ourselves
and getting support problem but don’t
rely on them that’s what I believe
because they have a more important the
whole country how to balance for
business we have to build of our own
ecosystem that’s what I think
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first I would love to go back to the
flashes I would do anything to be back
to 35 years I think I would go to China
and seeing the market there and go to
America and think about it and go back
and come back to Korea I think
opportunity is everywhere
honestly when people think about
internet is the future 10 years ago
internet was so good when nobody
believed Internet was so good now
internet is so tough because all the
smart people go to Internet so you
should go to the off ground there are so
many opportunity if you run a restaurant
if you’re really interested in running a
restaurant career using IT tech
knowledge to making sure the restaurant
is perfectly music if you want to open a
barber shop making sure you the IT tech
nology latest technology be the
difference it’s not only the high tech
that works there are a lot of business
if he’s using IT that is fantastic
so Prime Minister said I’m a genius I
don’t think I’m a genius and I would
love to be a genius but when I sit next
to Bill Gates I think I’m a genius when
I speak a Chinese he cannot speak when I
speak English well it will get with
earlier not bad you have we all have to
think opposite when I really agree with
one ms one-minute sing about is that
right is there an opportunity where
everybody against it just wait for one
minute think about so 25 years old
don’t worry any mistake is an income is
a wonderful revenue for you so I tell
myself and told my young people before
20 years old be a good student where do
intrapreneur just to learn some
experience before 30 years old follow
somebody go to a small company normally
in a big company it is good to learn
processing you are a part of a big
machine the way go to small company you
learn the passion you learn the dreams
you learn how to do a lot of things at
one time
so before 30 years old it’s not which
company you go it’s which boss you
follow it’s very important a good boss
teach you differently and before from 30
to 40 years old you have to think very
clearly were you working for yourself if
you really want to be interpreting when
you’re 40 to 50 years old you have to do
all the things that you are good at
don’t try to drop into the new area it’s
too late you may be successful but the
rate of dying is too big so 40 to 50
think about how can focus on things that
you are good at but when you are 50 to
60 years old work for the young people
because young people can do better than
you so rely on them invest on them
making sure they’re good
so when us over 60 years old spend time
for yourself on the beach sunshine right
it’s too late for you to change normally
but I business might buy a device to the
young people twenty five years old make
enough mistakes don’t worry you fall you
stand up you’re full you step enjoy it
I’m actually five years old enjoy the
show enjoy yourself first it’s not easy
to attract investment for any stata
my CFO Joseph chai and I went to Silicon
Valley for the first time 1999 to the
year 2000 we talked over 30 or 40
venture capitalists
everybody said no forget it so we gather
50 thousand US dollars from 80 fathers
which does it
and the very important thing is is that
you always have to prepare for at least
one year money before you go on the road
I agree that everyone it’s look
difficult to convince your wives your
your parents and your girlfriend to do
that but if you can convince in somebody
for the first round money no matter how
big the vision is you have to start from
the small things easy secure start to
move the first to move have to be a
little bit secure always pick up some
easy things and try to convincing those
people who trust you to raise the money
first remember one thing that’s the
secret sauce always raise money when you
have money right way don’t have money
you are in trouble don’t go out to raise
the money so when you have the money
stead of think about how can I raise
money because the winters go help always
think about prepare for the winters so
my philosophy is repair the roof while
it is sunshine wait into rings don’t
move keep it right so that is the first
run of money the bank will not give you
but it’s okay raise little the money
prove it and lit more prove it a little
more that’s everybody goes like that
well nobody can guarantee nobody can
guarantee will be successful right so I
think the only thing that can guarantee
our success is keep the passion keep
believe in the future keep on investing
the young people and keep on the mission
that helping others to effective if we
keep on that we have the chance to be
successful if we think well we are rich
enough let’s enjoy the life and now we
that will never work and now we get more
competitors all the guys entrepreneurs
if you do business you will always have
an
competition don’t worry about the
competition because your competitors
also worried by the youth right so don’t
worry competition is a very important of
fun part of the games in the business so
the competitors will never kill you you
will cure yourself by not serving your
customer better so if you ask me what
can make Alibaba go longer I want make
you guys young people join company like
Alibaba open shops on Alibaba on top of
the whole thing and then that will keep
and we help you you help us that it’s
not about helping each other and then
you will be successful that’s what I did
the first guy I respected your passion
about you graduate from the NBA and join
us data it’s good a lot of MBAs only
want to join big companies big big
managers got up MBA is good
I sent but unfortunately a lot of MBAs
to another train entrepreneurship I send
a lot of young wonderful young people to
go to NBA they were very smart before
they go to MPA but they came back they
suddenly they think like like a you know
structure guide this is no good so I
told my people forget about what you
learned in NBA using sting
I’m making sure that everything you do
is to the need of the customer and I
think it is good for MBA to be in the
startup and to raise money most of the
times the venture capitalists to give
you the money not only because of the
business plan because of the team you
have who working together with you and
who are these people
wants to experience what’s your record I
think raising money is not that
difficult today custome it’s much
there’s too much money here if people
got crazy the money the muscle everybody
everywhere the money but the thing is
that you have a good team good dream
relaxed plan and good record when you
have that I bet you’ll get the money
don’t worry about the money money follow
the people people sure to follow the
dream and the dream should have followed
the execution capability when that thing
happens the money will come okay
and the day when I was going to write a
book which I don’t know where I can
write it but the book I want to write
about is Alibaba 1001 mistakes okay so
many mistakes we have this is the best
assets we have so don’t worry about it
we’ll make mistake don’t worry about
that just a go ahead if you have a dream
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you
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