I started the meant to me series with
the goal to spend a little bit more time
with people who’ve done a lot more than
us and hopefully by watching them and
being around them a little bit of their
values beliefs mindset rubs off onto us
to make us better entrepreneurs so today
we’re going to learn from Alibaba
founder Jack Ma on staying motivated
mentor me jack as you guys watch this
video there’s something that Jack says
it really resonates with you make sure
to put it in the comments and put quotes
around it so that other people can be
inspired as well I did I have a rich
father not from you know well-educated I
said I tried three times for University
all filled for the last time 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 hovering or Wharton I apply
for harbor for ten times all filled they
don’t want to see me you know terrible
and I I think that is a normal life
right and I believe that it was so
difficult at that time I was so
frustrated because I taught in the
university my pay was ten dollars a
mouth 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 said well this guy
think differently thinker crazily you
know they think about something never
worked in 1994 disgust said I’m going to
do something called Internet and 23 of
them against it they said this is stupid
idea right we have never heard about
Internet and you know nothing about
computers why you wanted to the computer
so what I agree with as I said I believe
it because I saw the computer in 1994
when I went the USA I think this thing
could be big but I never thought it
would be that big like today honestly
people say you’re smart you have a big
vision 1994 sings he assault Internet
that was not true I just want to find a
job because I could not 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 we’re a leap a and people
say how you make it why this make it why
people cannot have fun opportunities you
can find opportunities and I think
people same here today Jeff 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 Jesus
and Larry Page Bill Gates and every
success people they did good and why I
don’t have this chance the same question
like you and later I come down myself
and luckily I win I tell you unlucky 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’ve always tried 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
complain you think if I can solve that
complaint that’s the opportunity that’s
what I did and I think nineteen ninety
four ninety nine is five so many people
in China want to sell things abroad but
there’s no place because the big
business can go to the trade fair Las
Vegas fear and Germany fear 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 would be great but
nobody would have believed it
why Internet can help well I said if if
something everybody believed it
everybody loved it
forget about that’s not a good
opportunity because where everybody
agrees why this opportunity should be
yours 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
will
the dreams whether investors delivered
this or not whether your friends believe
it or not whether your parents believe
it or not that’s not important you
believe it your team believe it and work
day and night on this that’s how the
things happens right my investors do
nothing after 10 years they invested us
they still don’t know what I’m doing
honestly people say why are you jack you
have such so many great investors yeah
they are great because they believe Jack
mark can do something but what exactly
is doing they probably don’t understand
but we have to know we know the only
thing I’ll 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 pay you but this
thing helped us if you keep on helping
us one day you will be successful and I
believe this when I started businesses
it’s so difficult to be a small business
owner in China it took me five months to
all five on your daughter’s that’s
stupid no chance and it is it and I have
no any idea about how to run a business
and I want to go to register company
called Internet the register officer
said no there’s no such a word into the
dictionary
internet so you have to register under
the name say it was it what’s the names
that can vary consulting firm and I have
no idea about what is computed so I
first companies pounds of hope because
computer is on inferred it was tough
was not knowing anything about enough
technology without knowing anything
about a computer in the past fifteen
years been working I call myself like a
blind man riding on the back of the
bright Tigers those experts riding
horses they all fell we survived it was
rewarded by the future with relief the
future we change ourselves when you’re
completely honest I want to prove who
are your heroes
oh my heroes well I got my story my
dream from America to for 15 years ago
when I came to America when I visited
Silicon Valley I saw sounding in the
evening the road was full of cars all
the buildings was like that’s the
passion and I went at the the hero I had
as Forrest Gump 14 years ago when i
watch the choices
you know he’s a fictional character
though you didn’t like that guy I’d be
watching that movie for about ten times
every time I would have frosted i watch
the movie and I watch movie before I
came here again were you worried yeah
for the film for coming to the New York
because I want I’ll watch the movie
again telling me that no matter whatever
change you are you and I’m student guy
15 years ago
no I only earned a $20 a mouth and today
I can do that much you know before don’t
worry
any mistake is an income is a wonderful
revenue for you so I taught myself and
told my young people you’re for 20 years
old be a good student wait to
entrepreneur 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
but when go to small company you learn
the passion you learn the dreams you
learn how to do a lot of things that’s
when 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 there 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 have 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 you ask over 60 years old
spend time for yourself on the beachside
shine
it’s too late for you to change normally
but this is my my advice to the young
people 25 years old
make enough mistakes don’t worry you
fall you stand up your for your stem
enjoy it I mean 25 years or enjoy the
show enjoy the show
I learned my English I learned how to
think use my own brain when I was young
I went to Hangzhou
Wester Lake you know we have a west lake
there’s a hotel many foreign visitors
visit there and I went there every
morning five o’clock to practice my
English the foreign visitors come I
practice my English I don’t know why at
that time but I find everything the
foreign visitors told me are so
different from the things my parents
told me my teacher told me and the
newspaper I read so since then I think
everything used my own brain to think
about it is that true is that an
opportunity site 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 a fantastic ideas every
evening but in the morning they go to
the office same again make the move make
the action to everybody to any person
tomorrow is new and believe one thing
this is also another last advice I want
to give you we have to work very hard
right I either work for the others or
work for yourself
and I choose the way work might for
myself that working for myself that
means working for the society if you
really want to work for yourself think
about the others the day DG time making
sure you help others because only when
the other had other people successful
when the other people happy you’ll be
successful you will be happy you tried
to get into three colleges each time
they rejected you now I tried there is a
examination that yeah
people if you want to go University of
the taste take the examinations so
iPhoto three times but a lot of fail I
fail for funny things that I fooled a
key primary school tests for two times
and I failed
like three times for the middle school
middle schools and you were never
believed in ching Hanzo my city there is
only one middle school that lasts only
one year it was changed from primary
school middle school because our
graduates of our our Alice school no
universe you know middle school except
us because we were too bad I would
become a pillar what effect did it have
though being rejected well I think we
have to get a use to it we’re not that
good even today we still have a lot of
people reject us I think when I in the
graduate from universities and before I
you know for three years I tried fill in
the universities so I applied jobs for
30 times got rejected
I went for a police listen no you’re not
good I went to either even the KFC when
KFC came to child come to I say you see
24 people went for the job 23 people
accepted I was the only a guy and we
went for please five people all of them
accepted I was the only guy than
aristocracy bill so to me being turned
down rejected oh by the way I told you
that I would apply for Harvard for 10
times rejected I know you’re sorry now
10 times you wrote them and said I’d
like to come to Harvard
yeah and then I told myself somebody I
should go teach there buddy
and we want to make the company last for
102 years and people occurs why 102
years because Alibaba was born in 1999
last year we had last century we had a
one year this
to 100 years next century one year a
hundred to across three centuries we
give a clear go to any in price don’t
say we are successful no matter how much
money we raised no matter how much money
we make no matter no matter how much we
have achieved don’t forget we want live
102 years now sixteen years past we have
another 86 years to go because in next
86 years what if any time we die we’re
never successful and I strongly believe
it’s not the technology that changed the
world
it’s the dreams behind the technology
that changed the world if the technology
changes the world I will never be here
I’m not trained to be a teacher but not
trained to be technology I know nothing
about a computer and I know very little
about the Internet I have a strong dream
that we want to help small business so
14 years ago we come here to sell
Chinese products to Europe that won’t
work
14 years later we try to help the
European small business to China to the
world are using the Internet
it’s the dreams that drive the world
it’s not only the technology when I have
trouble I always remind me 1/3 thing
focus on your customer survey or
employees and learn from the competitors
these are the P issues that I learned
focus at customer everybody today
talking about shareholder number one I
hate that I think it’s always custom
number one it’s the custom gives you the
money it’s the custom give you the
innovations it’s the custom that make
you happy because you’re $19.99 a year
2001 Internet bubble burst we cannot get
any money we do not have revenue
is we have nothing but everything what I
encouraged me go off with a letter of
thanks and emails from my customer say
check only Baba people because you
helped us someday we will help you
that’s their dream I had so today when
you believe shareholder number one you
only think about making numbers you only
think about revenues you only think
about how can make your stock market go
up and let I’ll let you know no
shareholders can be trusted I tell you
the truth
well our shares stock price the other
two years ago we listed in a 13.5
honking dollars before that list and a
lot of shareholders comes a check with
long-term shareholders please give us
moistures we’ll keep it when the
financial crisis time came you know the
day we I peel thirteen point four or
five we went up to $40 without doing
anything good with two did 24 hours and
then financial crisis came $40 to 3.3
dollars without doing anything bad they
all gone most of the shareholders their
share traders how can you trust on them
so rely on customers because the
customers stay with you custom grow up
with you custom give the money give you
the hope give you the support so focus
on customer and second is rely and serve
your employees it’s your employee it’s
your team that make the difference that
the employees that make all the dreams
realized if we say well you know we have
so many problems and and you know big
companies have have a problem in getting
the innovations how to make things
happen well because they do not listen
to the to the urge employees they focus
too much on the shareholders my
shareholders they give you this idea
their idea and where you really do that
idea they gone and they change all the
time but your employees stay with you I
remember the tough days
what it was so difficult year 2002 2001
there’s only one group of a people that
stay with me
that’s my colleagues and people say Jack
you don’t have to pay me for two years I
would still stay the company because you
respect us because the custom loved us
and I’ve tell you one funny thing every
if only way you believe your employees
are talents they are talented the people
if you don’t believe them they will
never be my mistake I made when I was
year 2000 we raised to 5 million US
dollars and that five million years to
where we have money we start to make
mistakes I try to hi as many talents as
possible those talents our MBAs those
talents are vice president of
multinational companies because I
believe if you have envy you must be
good right but when I hide these guys oh
my god is terrible the in sky came tell
me your strategy I only have five
million dollars I remember one of the
vice president marketing said they check
this is a budget for next two years
marketing I said what is that 12 million
u.s. dollars as I only have five million
is they I’ve never done any plan below
ten million when something wrong is
always your fault because you never know
so try to find the right people not the
best people all the employees they try
to find so if you try to hide great
people in your own company which your
company is not good enough at that time
just like a poor boring seven if you
want to put a Boeing 747 into a poor
tractor when that grows your tractor
never fly into pieces so my suggestion
is that look at your employees develop
with them only when they are developed
your company will be developed the day
when we I peeled we create more than a
thousand millionaires at least in the
company all the guys sit in the room and
we had a chat I say ask
now tell me one thing why you are so
successful why we are so successful when
we are contagious would become
millionaire what will happen are we we
are very hardworking people I think
they’re much more hard-working people
outside do you think we were smart
enough Oh at least I’m not smart I took
3 years 3 times to go to the ear of
university I filled all the times and I
don’t think I’m a smart I don’t think
you are smart and at that time in year
2000 it was so difficult for Ali Papa to
hide people if they’re not very that
much disabled we hide them if they can
walk we hide them because no big nobody
believed they believe out the internet
nobody believed ecommerce will work inch
and nobody believed that you know
Internet can happen but these guys
because they have no jobs so see well
let’s come here so they joined the
company and then those MBAs those people
who is great you know background they
they were a lot of counting company they
moved out they start their own business
now today they all feel those guys
nobody haunting them those guys never
sort of have the dreams to build up
their own company stay the company after
five years will succeed why we keep our
dreams we believe it no matter how big
your dream is make small tiny steps
ahead and grow with them grow with the
company so my mistake year 2001 I told
my 18 founders I said you guys can only
be team manager all the VP’s our high
from assign now 10 years passed all the
wonderful people I had outside 100
percent gone and those which I think how
could you be successful they all become
VPS and directors they are all powerful
because they believe they can so I want
to tell everybody here we are small a
carrier employees these are the people
they have families they have dreams they
here not only for the jobs they come
here with a dream to get share with you
and the third thing is learn from your
competitors don’t hate their competitors
big companies hit competitors I love my
competitors with our competitors we will
never grow that much fast year 2003 when
we start eat you know
tallip is a c2c auction model ebay my
competitor at that time is a eighty
billion dollars market cap we know small
tiny but we start to compete it’s a lot
of fun to compete with big guys you know
if I start to have a boxing with Mike
Tyson I’m honored you know if you have a
chance to compete with somebody if it is
it is a great competitor you learn we
learn from our competitors we respect
them everything they move you grow and
the other thing I want to share with you
is that competitors the best laboratory
for you because compared study you any
innovative ideas they can you learn that
don’t copy them learn from them so I
love my competitors every time when I
look at them I wish Adam I but I in
China people say Jack you’re so crazy
because four years ago I said when I
look at my telescope I never see my
competitors and people say how could you
be that palm 1rl and I say no I’m
looking for examples models
why should I looking for competitors
competitors are everywhere and when you
compete having fun the most interesting
part of the business is competition to
make your competitors angry to make your
competitors jumping around
that’s the sku you should have not
making yourself jumpy around angry right
business is such a great fun where you
compete when I compete if I got angry if
I jumping around I know something wrong
because this is a wrong strategy to
compete where you compete you know not
not not personally make your your
competitor
happy if they are unhappy if they
jumping around if they try to use money
to clear everything you start doing
because they start to lose money where
complete a study using money to compete
with you they start to lose business is
bad wisdom business is about hope
business about a courage so these are
all the skills and I nobody comfort us I
learned to use my right hand to come
from my left hand when I’m in trouble
you always tell yourself okay I’m still
surviving I’m still growing
everything’s good at least I’m still
surviving right so when you’re big you
start to worry about losing something
where small is not to grow so I always
believe small keep the hope are changing
with a bad intention for and let it hang
on
hope sisal Union or near to the city but
I borrow on the temple things over here
washer tone – or Texaco oil is really
out to pizza this support is a exports
attack Wallace also legitimately so
pretend to you
are they made with clothes appear over
ie Papa T way to mother to reports it’s
at them all better
it was Connie’s idea given up or
Sanderson Walker should be quick the
diesel engine proposal all this is
awesome Patagonian who knows about each
other
so the Gusev offers absolute really soon
I happen to know more when we talk even
panda or something but it was an onion
shoppin okay I’m teaching them job a
were child together the ninja challenge
a gentleman should inject a contrarian
thought doesn’t work she won’t like that
someone not that triple unit what was
that it was born in another moment take
your woman guy the neighbor ontology
won’t you think I don’t know Morgan
surrounded him harder partly or the
decision towards it’s no Alicia choice
of always you’re conscious of and so on
whether he was crazy with an adoption
well according to you I’m gonna go in
cheetah I’m gonna in each evaluation mr.
Chisolm achieves only piece of
Attraction Kenya is your complete
intelligent Oh folder are good numbers
of Ruben single is the Internet’s the
problem what can they can agree cheek at
the inner and a power meter service
loophole the on the back we have got a
ebay per capita are you again leave it
without telling how can i about our
surgical cuz I say we are packaging once
you’re the intern Oracle to the powerful
book on we’ve home in the sound
instrument that just feeds on something
so you’re jealous I’m gonna better tell
me you don’t pay that is available no
you guys are tingling bargain I thank
you guys so much for watching I love to
know what you thought of the video what
did Jack say that inspired you that
motivated you what are you going to
apply to your business or life as a
result of watching this video leaving
the comments below and I will join in
the discussion I also wanted to give a
quick shout out to violet newborn from
violet newborn calm
violet thank you so much for picking up
a copy of my book really means a lot to
me thank you for that support those are
you watching if you want your chance at
a shout out in a future video make sure
to grab a copy the book and email in
your receipt so we keep track and you
get some free bonuses as well thank you
guys so much for watching continue to
believe or whatever your one word is and
I’ll see you soon
[Music]
the goal to spend a little bit more time
with people who’ve done a lot more than
us and hopefully by watching them and
being around them a little bit of their
values beliefs mindset rubs off onto us
to make us better entrepreneurs so today
we’re going to learn from Alibaba
founder Jack Ma on staying motivated
mentor me jack as you guys watch this
video there’s something that Jack says
it really resonates with you make sure
to put it in the comments and put quotes
around it so that other people can be
inspired as well I did I have a rich
father not from you know well-educated I
said I tried three times for University
all filled for the last time 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 hovering or Wharton I apply
for harbor for ten times all filled they
don’t want to see me you know terrible
and I I think that is a normal life
right and I believe that it was so
difficult at that time I was so
frustrated because I taught in the
university my pay was ten dollars a
mouth 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 said well this guy
think differently thinker crazily you
know they think about something never
worked in 1994 disgust said I’m going to
do something called Internet and 23 of
them against it they said this is stupid
idea right we have never heard about
Internet and you know nothing about
computers why you wanted to the computer
so what I agree with as I said I believe
it because I saw the computer in 1994
when I went the USA I think this thing
could be big but I never thought it
would be that big like today honestly
people say you’re smart you have a big
vision 1994 sings he assault Internet
that was not true I just want to find a
job because I could not 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 we’re a leap a and people
say how you make it why this make it why
people cannot have fun opportunities you
can find opportunities and I think
people same here today Jeff 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 Jesus
and Larry Page Bill Gates and every
success people they did good and why I
don’t have this chance the same question
like you and later I come down myself
and luckily I win I tell you unlucky 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’ve always tried 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
complain you think if I can solve that
complaint that’s the opportunity that’s
what I did and I think nineteen ninety
four ninety nine is five so many people
in China want to sell things abroad but
there’s no place because the big
business can go to the trade fair Las
Vegas fear and Germany fear 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 would be great but
nobody would have believed it
why Internet can help well I said if if
something everybody believed it
everybody loved it
forget about that’s not a good
opportunity because where everybody
agrees why this opportunity should be
yours 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
will
the dreams whether investors delivered
this or not whether your friends believe
it or not whether your parents believe
it or not that’s not important you
believe it your team believe it and work
day and night on this that’s how the
things happens right my investors do
nothing after 10 years they invested us
they still don’t know what I’m doing
honestly people say why are you jack you
have such so many great investors yeah
they are great because they believe Jack
mark can do something but what exactly
is doing they probably don’t understand
but we have to know we know the only
thing I’ll 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 pay you but this
thing helped us if you keep on helping
us one day you will be successful and I
believe this when I started businesses
it’s so difficult to be a small business
owner in China it took me five months to
all five on your daughter’s that’s
stupid no chance and it is it and I have
no any idea about how to run a business
and I want to go to register company
called Internet the register officer
said no there’s no such a word into the
dictionary
internet so you have to register under
the name say it was it what’s the names
that can vary consulting firm and I have
no idea about what is computed so I
first companies pounds of hope because
computer is on inferred it was tough
was not knowing anything about enough
technology without knowing anything
about a computer in the past fifteen
years been working I call myself like a
blind man riding on the back of the
bright Tigers those experts riding
horses they all fell we survived it was
rewarded by the future with relief the
future we change ourselves when you’re
completely honest I want to prove who
are your heroes
oh my heroes well I got my story my
dream from America to for 15 years ago
when I came to America when I visited
Silicon Valley I saw sounding in the
evening the road was full of cars all
the buildings was like that’s the
passion and I went at the the hero I had
as Forrest Gump 14 years ago when i
watch the choices
you know he’s a fictional character
though you didn’t like that guy I’d be
watching that movie for about ten times
every time I would have frosted i watch
the movie and I watch movie before I
came here again were you worried yeah
for the film for coming to the New York
because I want I’ll watch the movie
again telling me that no matter whatever
change you are you and I’m student guy
15 years ago
no I only earned a $20 a mouth and today
I can do that much you know before don’t
worry
any mistake is an income is a wonderful
revenue for you so I taught myself and
told my young people you’re for 20 years
old be a good student wait to
entrepreneur 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
but when go to small company you learn
the passion you learn the dreams you
learn how to do a lot of things that’s
when 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 there 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 have 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 you ask over 60 years old
spend time for yourself on the beachside
shine
it’s too late for you to change normally
but this is my my advice to the young
people 25 years old
make enough mistakes don’t worry you
fall you stand up your for your stem
enjoy it I mean 25 years or enjoy the
show enjoy the show
I learned my English I learned how to
think use my own brain when I was young
I went to Hangzhou
Wester Lake you know we have a west lake
there’s a hotel many foreign visitors
visit there and I went there every
morning five o’clock to practice my
English the foreign visitors come I
practice my English I don’t know why at
that time but I find everything the
foreign visitors told me are so
different from the things my parents
told me my teacher told me and the
newspaper I read so since then I think
everything used my own brain to think
about it is that true is that an
opportunity site 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 a fantastic ideas every
evening but in the morning they go to
the office same again make the move make
the action to everybody to any person
tomorrow is new and believe one thing
this is also another last advice I want
to give you we have to work very hard
right I either work for the others or
work for yourself
and I choose the way work might for
myself that working for myself that
means working for the society if you
really want to work for yourself think
about the others the day DG time making
sure you help others because only when
the other had other people successful
when the other people happy you’ll be
successful you will be happy you tried
to get into three colleges each time
they rejected you now I tried there is a
examination that yeah
people if you want to go University of
the taste take the examinations so
iPhoto three times but a lot of fail I
fail for funny things that I fooled a
key primary school tests for two times
and I failed
like three times for the middle school
middle schools and you were never
believed in ching Hanzo my city there is
only one middle school that lasts only
one year it was changed from primary
school middle school because our
graduates of our our Alice school no
universe you know middle school except
us because we were too bad I would
become a pillar what effect did it have
though being rejected well I think we
have to get a use to it we’re not that
good even today we still have a lot of
people reject us I think when I in the
graduate from universities and before I
you know for three years I tried fill in
the universities so I applied jobs for
30 times got rejected
I went for a police listen no you’re not
good I went to either even the KFC when
KFC came to child come to I say you see
24 people went for the job 23 people
accepted I was the only a guy and we
went for please five people all of them
accepted I was the only guy than
aristocracy bill so to me being turned
down rejected oh by the way I told you
that I would apply for Harvard for 10
times rejected I know you’re sorry now
10 times you wrote them and said I’d
like to come to Harvard
yeah and then I told myself somebody I
should go teach there buddy
and we want to make the company last for
102 years and people occurs why 102
years because Alibaba was born in 1999
last year we had last century we had a
one year this
to 100 years next century one year a
hundred to across three centuries we
give a clear go to any in price don’t
say we are successful no matter how much
money we raised no matter how much money
we make no matter no matter how much we
have achieved don’t forget we want live
102 years now sixteen years past we have
another 86 years to go because in next
86 years what if any time we die we’re
never successful and I strongly believe
it’s not the technology that changed the
world
it’s the dreams behind the technology
that changed the world if the technology
changes the world I will never be here
I’m not trained to be a teacher but not
trained to be technology I know nothing
about a computer and I know very little
about the Internet I have a strong dream
that we want to help small business so
14 years ago we come here to sell
Chinese products to Europe that won’t
work
14 years later we try to help the
European small business to China to the
world are using the Internet
it’s the dreams that drive the world
it’s not only the technology when I have
trouble I always remind me 1/3 thing
focus on your customer survey or
employees and learn from the competitors
these are the P issues that I learned
focus at customer everybody today
talking about shareholder number one I
hate that I think it’s always custom
number one it’s the custom gives you the
money it’s the custom give you the
innovations it’s the custom that make
you happy because you’re $19.99 a year
2001 Internet bubble burst we cannot get
any money we do not have revenue
is we have nothing but everything what I
encouraged me go off with a letter of
thanks and emails from my customer say
check only Baba people because you
helped us someday we will help you
that’s their dream I had so today when
you believe shareholder number one you
only think about making numbers you only
think about revenues you only think
about how can make your stock market go
up and let I’ll let you know no
shareholders can be trusted I tell you
the truth
well our shares stock price the other
two years ago we listed in a 13.5
honking dollars before that list and a
lot of shareholders comes a check with
long-term shareholders please give us
moistures we’ll keep it when the
financial crisis time came you know the
day we I peel thirteen point four or
five we went up to $40 without doing
anything good with two did 24 hours and
then financial crisis came $40 to 3.3
dollars without doing anything bad they
all gone most of the shareholders their
share traders how can you trust on them
so rely on customers because the
customers stay with you custom grow up
with you custom give the money give you
the hope give you the support so focus
on customer and second is rely and serve
your employees it’s your employee it’s
your team that make the difference that
the employees that make all the dreams
realized if we say well you know we have
so many problems and and you know big
companies have have a problem in getting
the innovations how to make things
happen well because they do not listen
to the to the urge employees they focus
too much on the shareholders my
shareholders they give you this idea
their idea and where you really do that
idea they gone and they change all the
time but your employees stay with you I
remember the tough days
what it was so difficult year 2002 2001
there’s only one group of a people that
stay with me
that’s my colleagues and people say Jack
you don’t have to pay me for two years I
would still stay the company because you
respect us because the custom loved us
and I’ve tell you one funny thing every
if only way you believe your employees
are talents they are talented the people
if you don’t believe them they will
never be my mistake I made when I was
year 2000 we raised to 5 million US
dollars and that five million years to
where we have money we start to make
mistakes I try to hi as many talents as
possible those talents our MBAs those
talents are vice president of
multinational companies because I
believe if you have envy you must be
good right but when I hide these guys oh
my god is terrible the in sky came tell
me your strategy I only have five
million dollars I remember one of the
vice president marketing said they check
this is a budget for next two years
marketing I said what is that 12 million
u.s. dollars as I only have five million
is they I’ve never done any plan below
ten million when something wrong is
always your fault because you never know
so try to find the right people not the
best people all the employees they try
to find so if you try to hide great
people in your own company which your
company is not good enough at that time
just like a poor boring seven if you
want to put a Boeing 747 into a poor
tractor when that grows your tractor
never fly into pieces so my suggestion
is that look at your employees develop
with them only when they are developed
your company will be developed the day
when we I peeled we create more than a
thousand millionaires at least in the
company all the guys sit in the room and
we had a chat I say ask
now tell me one thing why you are so
successful why we are so successful when
we are contagious would become
millionaire what will happen are we we
are very hardworking people I think
they’re much more hard-working people
outside do you think we were smart
enough Oh at least I’m not smart I took
3 years 3 times to go to the ear of
university I filled all the times and I
don’t think I’m a smart I don’t think
you are smart and at that time in year
2000 it was so difficult for Ali Papa to
hide people if they’re not very that
much disabled we hide them if they can
walk we hide them because no big nobody
believed they believe out the internet
nobody believed ecommerce will work inch
and nobody believed that you know
Internet can happen but these guys
because they have no jobs so see well
let’s come here so they joined the
company and then those MBAs those people
who is great you know background they
they were a lot of counting company they
moved out they start their own business
now today they all feel those guys
nobody haunting them those guys never
sort of have the dreams to build up
their own company stay the company after
five years will succeed why we keep our
dreams we believe it no matter how big
your dream is make small tiny steps
ahead and grow with them grow with the
company so my mistake year 2001 I told
my 18 founders I said you guys can only
be team manager all the VP’s our high
from assign now 10 years passed all the
wonderful people I had outside 100
percent gone and those which I think how
could you be successful they all become
VPS and directors they are all powerful
because they believe they can so I want
to tell everybody here we are small a
carrier employees these are the people
they have families they have dreams they
here not only for the jobs they come
here with a dream to get share with you
and the third thing is learn from your
competitors don’t hate their competitors
big companies hit competitors I love my
competitors with our competitors we will
never grow that much fast year 2003 when
we start eat you know
tallip is a c2c auction model ebay my
competitor at that time is a eighty
billion dollars market cap we know small
tiny but we start to compete it’s a lot
of fun to compete with big guys you know
if I start to have a boxing with Mike
Tyson I’m honored you know if you have a
chance to compete with somebody if it is
it is a great competitor you learn we
learn from our competitors we respect
them everything they move you grow and
the other thing I want to share with you
is that competitors the best laboratory
for you because compared study you any
innovative ideas they can you learn that
don’t copy them learn from them so I
love my competitors every time when I
look at them I wish Adam I but I in
China people say Jack you’re so crazy
because four years ago I said when I
look at my telescope I never see my
competitors and people say how could you
be that palm 1rl and I say no I’m
looking for examples models
why should I looking for competitors
competitors are everywhere and when you
compete having fun the most interesting
part of the business is competition to
make your competitors angry to make your
competitors jumping around
that’s the sku you should have not
making yourself jumpy around angry right
business is such a great fun where you
compete when I compete if I got angry if
I jumping around I know something wrong
because this is a wrong strategy to
compete where you compete you know not
not not personally make your your
competitor
happy if they are unhappy if they
jumping around if they try to use money
to clear everything you start doing
because they start to lose money where
complete a study using money to compete
with you they start to lose business is
bad wisdom business is about hope
business about a courage so these are
all the skills and I nobody comfort us I
learned to use my right hand to come
from my left hand when I’m in trouble
you always tell yourself okay I’m still
surviving I’m still growing
everything’s good at least I’m still
surviving right so when you’re big you
start to worry about losing something
where small is not to grow so I always
believe small keep the hope are changing
with a bad intention for and let it hang
on
hope sisal Union or near to the city but
I borrow on the temple things over here
washer tone – or Texaco oil is really
out to pizza this support is a exports
attack Wallace also legitimately so
pretend to you
are they made with clothes appear over
ie Papa T way to mother to reports it’s
at them all better
it was Connie’s idea given up or
Sanderson Walker should be quick the
diesel engine proposal all this is
awesome Patagonian who knows about each
other
so the Gusev offers absolute really soon
I happen to know more when we talk even
panda or something but it was an onion
shoppin okay I’m teaching them job a
were child together the ninja challenge
a gentleman should inject a contrarian
thought doesn’t work she won’t like that
someone not that triple unit what was
that it was born in another moment take
your woman guy the neighbor ontology
won’t you think I don’t know Morgan
surrounded him harder partly or the
decision towards it’s no Alicia choice
of always you’re conscious of and so on
whether he was crazy with an adoption
well according to you I’m gonna go in
cheetah I’m gonna in each evaluation mr.
Chisolm achieves only piece of
Attraction Kenya is your complete
intelligent Oh folder are good numbers
of Ruben single is the Internet’s the
problem what can they can agree cheek at
the inner and a power meter service
loophole the on the back we have got a
ebay per capita are you again leave it
without telling how can i about our
surgical cuz I say we are packaging once
you’re the intern Oracle to the powerful
book on we’ve home in the sound
instrument that just feeds on something
so you’re jealous I’m gonna better tell
me you don’t pay that is available no
you guys are tingling bargain I thank
you guys so much for watching I love to
know what you thought of the video what
did Jack say that inspired you that
motivated you what are you going to
apply to your business or life as a
result of watching this video leaving
the comments below and I will join in
the discussion I also wanted to give a
quick shout out to violet newborn from
violet newborn calm
violet thank you so much for picking up
a copy of my book really means a lot to
me thank you for that support those are
you watching if you want your chance at
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guys so much for watching continue to
believe or whatever your one word is and
I’ll see you soon
[Music]
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