I think today people worry a lot about
the world about the economy China
economy in the world and but I’m a very
optimistic when people start to worry
that that is the opportunity is but I
worry about the blood testing and she
created good things and I think great
innovations great companies always
happening in the tough times the lives
like the music you have up be a bit down
you have a lousy shot notes and I like
American movie life life is like a box
of chocolate you never know what you’re
gonna get right so I’m pretty optimistic
the opportunity in the future for
equality is huge because in the in in
the last century the IT is for big
companies the globalization is for big
companies but now with the technology we
can serve those 80% of the companies
that never been served we can serve the
80% of young people that never served
technology for Internet is so cheap so
easy to use one of the reasons why we
grow in China ecommerce so fast much
faster than the u.s. is because our
infrastructure of Commerce in China was
too bad
why it is too bad something happened it
goes today we are working on the rural
areas of China I can never imagine that
China but 800 million people still live
in the rural areas of farmers and
they’re about close to 200 million
people
they are income is less than one dollar
per day and before the Internet
it’s impossible for these guys to reach
the PC because is so difficult even
people like me I don’t know how to use
in PC but now on 80% of the farmers
those will be using mobile phones when
have the mobile phones the internet the
data seems changing a lot so I’m excited
about future people always worry that’s
the you know I love the young kids
sitting there and talking about the
dream their hopes because if they have
the hope we have the hope that’s what I
believe people say how you make it why
this make it why people cannot have fun
opportunities you can find opportunities
and I think people say them here today
Jeff where is the opportunity I don’t
have a job I don’t have this I don’t
have that I remember 20 years ago I hate
a Bill Gates I say he took all the job
you know he’s such a great and Larry
Page Bill Gates and every success people
they did a 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
always tried to solve the problems of
the others and I think where is the
opportunity the opportunity lies 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 99 is five so many
people in China want to sell things
abroad but there’s no place because the
big business can’t go to the trade fair
in Las Vegas fair
Germany fear small business they don’t
have opportunity so they complain we
want to go the 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 love it
forget about that’s not your 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 believe the
dreams whether investors believe it 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 all the things
happens right my investors do nothing
after 10 years they invested us this you
don’t know what I’m doing honestly
people say why are you jack you haven’t
such so many great investors yet 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
tell you guys for the first three years
we do not have the even one dollar
revenue from our business but why it
keeps a 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 helped us if you keep on helping
us one day you will be successful and I
believe this and I want people here to
let you know that we are at the best of
time of this century the first
technology revolution the steam the
water 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 of
time for us for our young people we are
all lucky we are only only like a 20 or
30 years old
the next acidity is the best time the
last 20 years is that time I called
information technology that’s the IT IT
is to make us make the big company
getting bigger and stronger and IT is to
make yourself stronger IT is tried to
get something for you but now we are
entering into the new period which I
call the data technology the data
technology is do 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 a sharing details
about take responsibility DT 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 purifiers and by
the way at the DT period everybody is
the same because we are stuck from the
same line nobody is the expert of
teaching there are a lot of experts of
IT they may be in trouble so which I
were to say the best the best assets 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 learned how to think use my
own brain
when I was young I went to hangzhou
western lake you know we have a westerly
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’d practice
my English I don’t know why at that time
but I found everything the foreign
visitors told to 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 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 working my 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 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
menteng career really want to help the
young people to build up the ecosystem
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 a more
jobs
second revolution created 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 needs
more knowledge more skills and Korean
people life I think they are so creative
when I see the cinnamon the movie and
the movie I am especially you are so
good at making you know online gaming
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
attention two 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 as I don’t I don’t understand
why so many people buying our shop every
day but just to come in and I think next
20 years will be at least 2 billion at
least a 2 billion to 2.5 billion people
will be online shopping and that would
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
great of something for the world for the
best consumers so that is why I’m coming
here not to sell things honestly I think
cell Chinese products to career will be
sell we being so data 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 gonna ask you sure mama you have a
lot your chip so much with your business
do you still have something to the poor
more are you still hungry for business
yeah the money people give me the money
I have it’s not my money this is the
money people trust on me that’s the
trust of people on me so I should take
the most of responsibility for all the
money I invest and I still 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
of our mission of doing Alibaba is
helping small business doing business
easier and we only help the Chinese
small business there are so many Korean
small business there’s so many you know
Afghanistan business 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
one major set that goal well when I
start my business in 1992 it was so
difficult I try to borrow three thousand
US dollars from the banks took me three
months but I still cannot get it and
when I said 1994 I tried to register I
intended company I could not do it coz
so difficult to all the processing and
can I get the money cannot I ran office
and then when I started Alibaba I was
still very difficult and I think big
companies the government help foreign
companies the American market the stock
market help small business nobody help
if we can create something that using
Internet help the small business empower
the small business and make help the
small biz
a girl’s strong that will be the unique
value that with the Incan I can help
so that was begun I think since nobody
helped me if we can help the others will
be a huge opportunity that is the dream
and that become our one mission so
everybody join our company we will ask
him we our job our amazing is to help
others to a business easier 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 then we’ve
been doing that for 16 years and I think
we were to make another 86 years working
on that it’s only I leave up quite so
chunky booty today is all oh yeah get
ritodrine document or open document a
Tom Yum Goong sweeter days ago Testament
of agua goat second race horebeek OEt
ami okay
Percy randomizations Angela’s Semitic
risotto cake rock abandoned even drag a
meeting boxer chooses on the decree you
can go granita I do not know where I got
the confidence these days when I see the
documentary I was surprised why this guy
has been
that is true cuz funny thing the day
when I study Alibaba I asked my my
colleague to record and tape everything
everything we talk all the meetings with
we being within putting a whole house of
tapes in the past of 60 years we want
record it I told my friends and myself
if Jack mod can be successful 80 percent
of the people in China can be successful
too now we do not a borrow even one
daughter 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% of them are my students another 40
percent 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 it was funny that those great
people have a vision of themselves that
they always have some new ideas they
were taken away from the other companies
those people stay in the companies
they’re not very smart like me we
believe what we’re doing so nobody come
to help hunting 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 at the best revenue and also
the the employees knows wow this is
something is we didn’t have revenue I
told you one story I went to a
restaurant when I finished 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 I
just a small gift so these things tell
us this thing is good if we keep on
working and after 10 years they really
become a burden that was the that was
the true story and that keep us worth
you know working on my energy I want a
similar history de Lobo AO B&B trap
accident Silicon Valley at top three
translational CBI with Smita I’ll show
you a consumers a Lean Startup to be
Bonnie the Audion Union was reversing a
Kazmir a Silicon Valley startup to
become drug user China and bra surgeon
beard and devil single cosmic ax
okay first I think nobody can conquer
the world yes and we only can serve the
world
at this serve how many people in the
other side because 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 you do the
business in the whole career if your
vision in America you have a vision
there 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 started I put the
Bill Gates as my mod role model I put
Warren Buffet Romar I got a more
disappointed oh my god Huck where can I
get this two gates and you when you put
the robot is that big it it’s very
frustrating then I think about the uncle
wah my next door and anthalie Darnay my
next door they worked pretty well so I
started thinking mmm
let me serve this and one day I can
serve more people
that was think beginning guys I tell you
the day the first week when I launched a
topic on the earlier table accom nobody
come to sell nobody come 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 10 days some people start
to try to sell something we buy
everything so we buy a whole house of
things for no use just just if people
come to sell so little fine later we
build up our business little by little
we build up our ecosystem of the
infrastructure so if if career tried to
be try to have a Silicon Valley like
infrastructure you will never have it
because Silicon Valley has been there
for I don’t know 50 years or 60 years
that’s beautiful
all for ourself
when the infrastructure paneer 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 are 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 and have a Silicon
Valley infrastructure first it’s
impossible second if there’s 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 but they
are government offices we business we
have to create for ourselves and getting
support from them but don’t rely on them
that’s what I believe because they have
a more important the whole you know
country how to balance for business we
have the build of our own ecosystem
that’s what I think
each and Schiavoni unhinge a bow in here
like a swimmer has a side towel which
would be a winner to me on Iago cutting
it was hell porn haram doko you go
dongha doko home but Itachi chakras in
diamonds or how much was there okay why
don’t you do me for a 25 year old man
well first I would love to go back to 25
years
I would do anything to to be back to 25
years I think I would go to China and
seen the market there and go to an
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 ten 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 in career using IT tech
knowledge to making sure the restaurant
is perfectly unique if you want to open
a barber shop making sure you is the IT
tech knowledge and data technology be
the different it’s not only the high
tech that works there are a lot of
business if you use an i-team that I’ll
be fantastic right 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 Chinese
he cannot speak when I speak English
well if we believe it’s not bad you have
we all have to think opposite where
everybody agree with one means one
minute think 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 that income
is a wonderful revenue for you so I
taught myself and told my young people
before 20 years old be a good student
way too entrepreneur just to learn some
experience before 30 years old follow
somebody go to a smoke
but normally in a big company it is good
to learn processing you are a part of a
big machine the wincle to small company
you learned 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 dyeing 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 guys over 60 or so spend time for
yourself on the beachside shine it’s too
late for you to change normally but this
is my buy a device to the young people
twenty five years old
make enough mistakes don’t worry you
fall you stand up your fault you step
enjoy it I mean 25 years old enjoy the
show enjoy man enjoyment our country –
Ernie – total panic Rondo I was parkour
ago singer Anita Rizal Kronk Ikaruga
tagger catchy is sister jig Wanda okay
first it’s not easy to attract
investment for any startups my CFO
Joseph chai and I went to Silicon Valley
for the first time 1999 to the year 2000
we talked to over 30 or 40 venture
capitalists everybody said no forget it
so we gather 50,000 USD
from 18 founders we started and the very
important of thing is is that you always
have to prepare for at least one year
money before you go on the road I agree
that everybody it’s so difficult to
convince your wife 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 money so when you
have the money instead of think about
how can I raise money because the wing
disc of how always think about prepare
for the winters so my philosophy is
repair the roof while it is sunshine way
into rings don’t move
keep it right so that is the first run
of money the bank would not give you but
it’s okay raise the lid of the money
prove it and lit more prove it a little
more that’s everybody goes like that
okay yeah my name is Louisa I’m from
China I fell question for you do you
saying
Alibaba COO still becomes as successful
as it has now these are the huge
ecommerce market base 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 executive if we keep
on that we have the chance to be
successful if we think well we are
which enough let’s enjoy the life and
are we that would never work right and
now we’re getting more competitors all
the guys entrepreneurs if you do
business you will always have a
competition don’t worry about the
competition because your competitors
also worry about you right so don’t
worry competition is a very important a
fun part of the game 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 Gold longer I want make
you guys young people join company like
Alibaba open shops on Alibaba on top no
thanks and then that will keep it and we
help you you help us that’s it’s about
helping each other and then you will be
successful that’s what I believe yes the
first guy I respect your question about
you graduate from MBA and join a
start-up which is good a lot of MBAs
only want to join big companies big big
managers startup 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 MBA they were very smart before
they go to MBA 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 the NBA use it instinct
and 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
what’s their experience what’s your
record
I think raising money is not that
difficult today trust me
it’s much they’re too much money here
because people got crazy
the money the Musto everybody everywhere
the money but the thing is that you have
a good team good dream relax the 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 dreams and the dreams
should have followed the execution
capability when that thing happens the
money will come okay
and the day when I work I’m 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 and this
is the best assets we have so don’t
worry about it we’ll make mistake don’t
worry about that just to go ahead if you
have a dream
the world about the economy China
economy in the world and but I’m a very
optimistic when people start to worry
that that is the opportunity is but I
worry about the blood testing and she
created good things and I think great
innovations great companies always
happening in the tough times the lives
like the music you have up be a bit down
you have a lousy shot notes and I like
American movie life life is like a box
of chocolate you never know what you’re
gonna get right so I’m pretty optimistic
the opportunity in the future for
equality is huge because in the in in
the last century the IT is for big
companies the globalization is for big
companies but now with the technology we
can serve those 80% of the companies
that never been served we can serve the
80% of young people that never served
technology for Internet is so cheap so
easy to use one of the reasons why we
grow in China ecommerce so fast much
faster than the u.s. is because our
infrastructure of Commerce in China was
too bad
why it is too bad something happened it
goes today we are working on the rural
areas of China I can never imagine that
China but 800 million people still live
in the rural areas of farmers and
they’re about close to 200 million
people
they are income is less than one dollar
per day and before the Internet
it’s impossible for these guys to reach
the PC because is so difficult even
people like me I don’t know how to use
in PC but now on 80% of the farmers
those will be using mobile phones when
have the mobile phones the internet the
data seems changing a lot so I’m excited
about future people always worry that’s
the you know I love the young kids
sitting there and talking about the
dream their hopes because if they have
the hope we have the hope that’s what I
believe people say how you make it why
this make it why people cannot have fun
opportunities you can find opportunities
and I think people say them here today
Jeff where is the opportunity I don’t
have a job I don’t have this I don’t
have that I remember 20 years ago I hate
a Bill Gates I say he took all the job
you know he’s such a great and Larry
Page Bill Gates and every success people
they did a 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
always tried to solve the problems of
the others and I think where is the
opportunity the opportunity lies 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 99 is five so many
people in China want to sell things
abroad but there’s no place because the
big business can’t go to the trade fair
in Las Vegas fair
Germany fear small business they don’t
have opportunity so they complain we
want to go the 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 love it
forget about that’s not your 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 believe the
dreams whether investors believe it 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 all the things
happens right my investors do nothing
after 10 years they invested us this you
don’t know what I’m doing honestly
people say why are you jack you haven’t
such so many great investors yet 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
tell you guys for the first three years
we do not have the even one dollar
revenue from our business but why it
keeps a 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 helped us if you keep on helping
us one day you will be successful and I
believe this and I want people here to
let you know that we are at the best of
time of this century the first
technology revolution the steam the
water 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 of
time for us for our young people we are
all lucky we are only only like a 20 or
30 years old
the next acidity is the best time the
last 20 years is that time I called
information technology that’s the IT IT
is to make us make the big company
getting bigger and stronger and IT is to
make yourself stronger IT is tried to
get something for you but now we are
entering into the new period which I
call the data technology the data
technology is do 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 a sharing details
about take responsibility DT 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 purifiers and by
the way at the DT period everybody is
the same because we are stuck from the
same line nobody is the expert of
teaching there are a lot of experts of
IT they may be in trouble so which I
were to say the best the best assets 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 learned how to think use my
own brain
when I was young I went to hangzhou
western lake you know we have a westerly
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’d practice
my English I don’t know why at that time
but I found everything the foreign
visitors told to 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 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 working my 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 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
menteng career really want to help the
young people to build up the ecosystem
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 a more
jobs
second revolution created 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 needs
more knowledge more skills and Korean
people life I think they are so creative
when I see the cinnamon the movie and
the movie I am especially you are so
good at making you know online gaming
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
attention two 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 as I don’t I don’t understand
why so many people buying our shop every
day but just to come in and I think next
20 years will be at least 2 billion at
least a 2 billion to 2.5 billion people
will be online shopping and that would
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
great of something for the world for the
best consumers so that is why I’m coming
here not to sell things honestly I think
cell Chinese products to career will be
sell we being so data 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 gonna ask you sure mama you have a
lot your chip so much with your business
do you still have something to the poor
more are you still hungry for business
yeah the money people give me the money
I have it’s not my money this is the
money people trust on me that’s the
trust of people on me so I should take
the most of responsibility for all the
money I invest and I still 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
of our mission of doing Alibaba is
helping small business doing business
easier and we only help the Chinese
small business there are so many Korean
small business there’s so many you know
Afghanistan business 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
one major set that goal well when I
start my business in 1992 it was so
difficult I try to borrow three thousand
US dollars from the banks took me three
months but I still cannot get it and
when I said 1994 I tried to register I
intended company I could not do it coz
so difficult to all the processing and
can I get the money cannot I ran office
and then when I started Alibaba I was
still very difficult and I think big
companies the government help foreign
companies the American market the stock
market help small business nobody help
if we can create something that using
Internet help the small business empower
the small business and make help the
small biz
a girl’s strong that will be the unique
value that with the Incan I can help
so that was begun I think since nobody
helped me if we can help the others will
be a huge opportunity that is the dream
and that become our one mission so
everybody join our company we will ask
him we our job our amazing is to help
others to a business easier 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 then we’ve
been doing that for 16 years and I think
we were to make another 86 years working
on that it’s only I leave up quite so
chunky booty today is all oh yeah get
ritodrine document or open document a
Tom Yum Goong sweeter days ago Testament
of agua goat second race horebeek OEt
ami okay
Percy randomizations Angela’s Semitic
risotto cake rock abandoned even drag a
meeting boxer chooses on the decree you
can go granita I do not know where I got
the confidence these days when I see the
documentary I was surprised why this guy
has been
that is true cuz funny thing the day
when I study Alibaba I asked my my
colleague to record and tape everything
everything we talk all the meetings with
we being within putting a whole house of
tapes in the past of 60 years we want
record it I told my friends and myself
if Jack mod can be successful 80 percent
of the people in China can be successful
too now we do not a borrow even one
daughter 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% of them are my students another 40
percent 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 it was funny that those great
people have a vision of themselves that
they always have some new ideas they
were taken away from the other companies
those people stay in the companies
they’re not very smart like me we
believe what we’re doing so nobody come
to help hunting 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 at the best revenue and also
the the employees knows wow this is
something is we didn’t have revenue I
told you one story I went to a
restaurant when I finished 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 I
just a small gift so these things tell
us this thing is good if we keep on
working and after 10 years they really
become a burden that was the that was
the true story and that keep us worth
you know working on my energy I want a
similar history de Lobo AO B&B trap
accident Silicon Valley at top three
translational CBI with Smita I’ll show
you a consumers a Lean Startup to be
Bonnie the Audion Union was reversing a
Kazmir a Silicon Valley startup to
become drug user China and bra surgeon
beard and devil single cosmic ax
okay first I think nobody can conquer
the world yes and we only can serve the
world
at this serve how many people in the
other side because 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 you do the
business in the whole career if your
vision in America you have a vision
there 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 started I put the
Bill Gates as my mod role model I put
Warren Buffet Romar I got a more
disappointed oh my god Huck where can I
get this two gates and you when you put
the robot is that big it it’s very
frustrating then I think about the uncle
wah my next door and anthalie Darnay my
next door they worked pretty well so I
started thinking mmm
let me serve this and one day I can
serve more people
that was think beginning guys I tell you
the day the first week when I launched a
topic on the earlier table accom nobody
come to sell nobody come 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 10 days some people start
to try to sell something we buy
everything so we buy a whole house of
things for no use just just if people
come to sell so little fine later we
build up our business little by little
we build up our ecosystem of the
infrastructure so if if career tried to
be try to have a Silicon Valley like
infrastructure you will never have it
because Silicon Valley has been there
for I don’t know 50 years or 60 years
that’s beautiful
all for ourself
when the infrastructure paneer 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 are 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 and have a Silicon
Valley infrastructure first it’s
impossible second if there’s 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 but they
are government offices we business we
have to create for ourselves and getting
support from them but don’t rely on them
that’s what I believe because they have
a more important the whole you know
country how to balance for business we
have the build of our own ecosystem
that’s what I think
each and Schiavoni unhinge a bow in here
like a swimmer has a side towel which
would be a winner to me on Iago cutting
it was hell porn haram doko you go
dongha doko home but Itachi chakras in
diamonds or how much was there okay why
don’t you do me for a 25 year old man
well first I would love to go back to 25
years
I would do anything to to be back to 25
years I think I would go to China and
seen the market there and go to an
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 ten 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 in career using IT tech
knowledge to making sure the restaurant
is perfectly unique if you want to open
a barber shop making sure you is the IT
tech knowledge and data technology be
the different it’s not only the high
tech that works there are a lot of
business if you use an i-team that I’ll
be fantastic right 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 Chinese
he cannot speak when I speak English
well if we believe it’s not bad you have
we all have to think opposite where
everybody agree with one means one
minute think 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 that income
is a wonderful revenue for you so I
taught myself and told my young people
before 20 years old be a good student
way too entrepreneur just to learn some
experience before 30 years old follow
somebody go to a smoke
but normally in a big company it is good
to learn processing you are a part of a
big machine the wincle to small company
you learned 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 dyeing 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 guys over 60 or so spend time for
yourself on the beachside shine it’s too
late for you to change normally but this
is my buy a device to the young people
twenty five years old
make enough mistakes don’t worry you
fall you stand up your fault you step
enjoy it I mean 25 years old enjoy the
show enjoy man enjoyment our country –
Ernie – total panic Rondo I was parkour
ago singer Anita Rizal Kronk Ikaruga
tagger catchy is sister jig Wanda okay
first it’s not easy to attract
investment for any startups my CFO
Joseph chai and I went to Silicon Valley
for the first time 1999 to the year 2000
we talked to over 30 or 40 venture
capitalists everybody said no forget it
so we gather 50,000 USD
from 18 founders we started and the very
important of thing is is that you always
have to prepare for at least one year
money before you go on the road I agree
that everybody it’s so difficult to
convince your wife 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 money so when you
have the money instead of think about
how can I raise money because the wing
disc of how always think about prepare
for the winters so my philosophy is
repair the roof while it is sunshine way
into rings don’t move
keep it right so that is the first run
of money the bank would not give you but
it’s okay raise the lid of the money
prove it and lit more prove it a little
more that’s everybody goes like that
okay yeah my name is Louisa I’m from
China I fell question for you do you
saying
Alibaba COO still becomes as successful
as it has now these are the huge
ecommerce market base 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 executive if we keep
on that we have the chance to be
successful if we think well we are
which enough let’s enjoy the life and
are we that would never work right and
now we’re getting more competitors all
the guys entrepreneurs if you do
business you will always have a
competition don’t worry about the
competition because your competitors
also worry about you right so don’t
worry competition is a very important a
fun part of the game 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 Gold longer I want make
you guys young people join company like
Alibaba open shops on Alibaba on top no
thanks and then that will keep it and we
help you you help us that’s it’s about
helping each other and then you will be
successful that’s what I believe yes the
first guy I respect your question about
you graduate from MBA and join a
start-up which is good a lot of MBAs
only want to join big companies big big
managers startup 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 MBA they were very smart before
they go to MBA 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 the NBA use it instinct
and 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
what’s their experience what’s your
record
I think raising money is not that
difficult today trust me
it’s much they’re too much money here
because people got crazy
the money the Musto everybody everywhere
the money but the thing is that you have
a good team good dream relax the 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 dreams and the dreams
should have followed the execution
capability when that thing happens the
money will come okay
and the day when I work I’m 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 and this
is the best assets we have so don’t
worry about it we’ll make mistake don’t
worry about that just to go ahead if you
have a dream
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