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Jack Ma: I've Had Lots Of Failures And Rejections | Davos 2015 — Transcript

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0:00welcome Jack ma thank you thank you
0:04thank you
0:07we we um we've all become very cognizant
0:11of Jack and his story and when Alibaba
0:14went public with the largest IPO in
0:16history uh we knew a lot more about him
0:19so I want to talk about his personal
0:22story I want to talk about how many
0:24times he tried and failed and what kept
0:26Him going I want to talk about where he
0:28is today and he got here and where he is
0:32going and how he expects to get there
0:35and if he gets there what will it all
0:37mean for him and for the people uh that
0:40he wants to inspire so I begin with this
0:44question though Jack why are you back at
0:48daos it's a it's a long break for seven
0:52years I think uh my last time trip here
0:56was year
0:572008 but um I was coming for year 2001
1:02for young Global leader for
1:04tomorrow and I think remember I never
1:06heard about the devs when I came but
1:10when I came I in the Switzerland so many
1:13young people
1:15demonstrate was such a horrible scene
1:17that I was and and I ask them why did
1:20they do it they say anti-
1:23globalization and I say why
1:25globalization is a great thing why
1:27people you know don't like it
1:30and then we come all the way for two
1:32hours here there's a machine gun there's
1:34a people checking I say oh God is that
1:36is that a f or is that pron we're going
1:38to go
1:39inside
1:42but when I joined the Forum uh at the
1:45Young Global leader I was
1:48thrilled by uh so many ideas and for the
1:52first three four years I learned what
1:55what does what does the globalization
1:57mean what is the corpor citizenship mean
2:00what about social responsibility mean
2:02and all these new ideas and I see so
2:05many great leaders talking about
2:09leadership and that benefit a lot and
2:12the year 2008 and N when the financial
2:16crisis came I think it's better go back
2:18to work because we can never win The
2:21World by
2:22talking so go back spend seven years now
2:27I come back I think it's time to do
2:29something return
2:30CU I learned so much let's talk 12 years
2:33ago so why I should not talking to the
2:35young Global leader of today sharing
2:38with them how we gone through so that
2:40was the thing let's start with where you
2:42are today just how big is Alibaba how
2:46many people come every day how many
2:49people come in a week how fast is it
2:52growing yeah we have over a 100 million
2:57buyers visiting our site shopping our
2:59site site um every day and we created
3:04100 million every day we created um uh
3:0914 million jobs for China directly and
3:13indirectly and um we grow from 18 people
3:19to 30,000 people 18 people in my
3:21apartment to now we have four big
3:23campers compared to 15 years ago we were
3:27big but compared to 15 years a later
3:30with still a
3:33baby how big will you be 15 years from
3:36now I think 15 years ago I told my team
3:40that um 15 years in the past 15 years we
3:46grow from nothing to this size and 15
3:50years later I wanted people see no about
3:52alib babba no T about because it's
3:55already everywhere I want 15 years ago
3:59when we talked talk about what is
4:01e-commerce why small business can using
4:04this e-commerce those internet can do
4:06business Across the Nation and I hope 15
4:10years later people forget about
4:12e-commerce because they think it's like
4:14electricity nobody think it's a Hightech
4:16today now this is something that I don't
4:19want 15 years later we still walk on the
4:22street talking about why and how
4:25e-commerce can help people talk about
4:27the IPO you did it ex ceed your
4:31expectations well it's a pretty small
4:33IPO 250 yes the largest IPO in the
4:38history of Wall Street ra we we raised
4:42and number two was a Chinese Bank thank
4:44you I I uh I remember year 2001 we went
4:49to uh raise some five million three
4:51million venture capitalist dollars in
4:53the USA and got rejected and I say we
4:57come back raising some a little bit
5:01more
5:03but I uh I think it you know what we
5:07think more about is for two $25 billion
5:12how we can spend the money efficiently
5:15because this is not the money this is
5:17the trust from the world the trust from
5:19those people they want to do better jobs
5:22to help more people they want to have a
5:24good return
5:26so I think um giving me more pressures
5:30because um when our our market cap is
5:34bigger than IBM for certain day we're
5:37bigger than warmart we're one of the top
5:3910 15 largest market cap company in the
5:45world I told my team and myself is that
5:48true we're not that
5:51good because years ago people say h
5:55Alibaba model is terrible does not make
5:58money have this and that all the big bad
6:01things because Amazon is better eBay is
6:03better Google is better and there's no
6:06such model like alib Baba in the USA so
6:09I told myself and people we were better
6:11than people thought but today when we
6:14are that big size I said no we are not
6:18that good as people thought we are just
6:21a company 15 years old average age is 27
6:2528 years old young people we're doing
6:28something that human being have never
6:31tried so I want I want to talk about the
6:33future let me take you back uh to when
6:35you were born in hangzo uh where the
6:38headquarters still are Y and your campus
6:41is there you don't have a loot don't
6:42don't move your loot your headquarters
6:44there yeah you founded there loot there
6:47you grew up in the 60s 64
6:51that born in' 64 that was the time of
6:54the cultural revolution yeah it was the
6:56end of the cultural revolution it was uh
7:01well my grandfather was a tiny landlord
7:04was considered after Liberation was
7:06considered to be a bad guy so um I was
7:11um I I I I I know how tough it was when
7:15I was
7:16kid you tried to get into three colleges
7:20MH each time they rejected you no I I
7:24try there is a examination that young
7:26people if you want to go University you
7:28have the taste take the examinations so
7:31I failed three times but a lot of fail I
7:33failed for funny things that I failed
7:36the key Primary School test for two
7:38times and I failed uh um like a two
7:43three times for the middle school middle
7:45schools and uh you you would never
7:48believe in in Hanzo my city there's only
7:52one Middle
7:54School that last only one year it was
7:58changed from primary schol middle school
8:00because our graduates of our our our
8:02school no univer you no Middle School
8:05accept us because we're too
8:07bad they would become a middle
8:11school what effect did it have though uh
8:14being
8:16rejected well I think we have to get
8:19used to it we're not that good even
8:21today we still have a lot of people
8:24reject us I think
8:26um when I uh in the be graduate from
8:30universities and before I you know for
8:32three years I tried to fail in the
8:34universities so I appli jobs for 30
8:37times got rejected I went for a police
8:41they said no you're not good I went even
8:44the uh KFC when KFC came to China come
8:47to my
8:48city 20 24 people went for the job 23
8:54people accepted I was the only one
8:56guy and we went for Polie five people
9:00four of them accepted I was the only guy
9:02that I rece receive it so to me being
9:05turned down rejected oh by the way I
9:07told you that I would I apply for
9:09Harvard for 10 times
9:12rejected I know be
9:14rejected sorry
9:16now 10 times you wrote them and said I'd
9:19like to come to Harvard yeah and then I
9:22told myself somebody I should go teach
9:23there
9:25baby I I think that can be arranged um
9:30Richard Nixon came to hzu yeah and after
9:33that tourist flooded the place yeah and
9:36that's how you learned English
9:38yeah I really like the I don't know why
9:43at 12 13 years so that time I suddenly
9:45fell love into the language the English
9:48and there's no place you can you can
9:50learn English at that time there's no
9:52books English books so I went to the
9:55Hanzo hotel now called Hanzo shanga
9:57Hotel because that was the
9:59Hotel uh can receive the foreign
10:02visitors so every morning for nine years
10:04I show them around as a free guide and
10:07they taught me English and I think that
10:10changed to me today I'm a 100% ma in
10:13China I've never got a one day train
10:15outside China yeah and uh people when
10:18people talk to me say Jack how can you
10:20speak English like that why sometimes
10:22you you talk like an Western guys I
10:25think that was the nine
10:27years these Western for tourist opened
10:31my mind because everything they told me
10:35are so different from the things I
10:37learned from the schools and from my
10:40parents so now I have a habit whatever I
10:44see whatever I read I use my mind think
10:47about for two minutes is that how maun
10:49became Jack
10:51ma actually Jack the name was given by u
10:55a lady in tennis she's a tourist that
10:58she came here and and she said Kim to
11:00Hanzo we had a we become a pan friends
11:02Maring is so difficult to pronounce so
11:06she said do
11:07you you have an English name I said
11:09don't so can you give me an English name
11:11she said uh okay she said my father
11:15called a jack my husband called Jack
11:17what do you think about Jack I said
11:20good so I've been using that for that
11:22many
11:25years uh first visit to America 1995
11:291995 yeah I uh I come here for a project
11:34helping the local government to building
11:36up a
11:38Highway uh and you tried the internet I
11:41tried the internet in Seattle and um in
11:45a building called the USA bank I don't
11:47know whether the US Bank is still there
11:48or not but it's a building and um my
11:53friend open a small office which is like
11:55only 10% bigger than this room and there
11:58lot of much computers in there and he
12:01said Jack you this is internet was I
12:04asked what is internet he said you know
12:05search whatever you want at that time
12:07they use Mosaic very slow right and I
12:11said I don't use it I don't want to type
12:13because Inter computer is so expensive
12:15in China if I destroy it I cannot pay
12:19you said just to search it so I searched
12:22the first word
12:25beer I don't know why because easy to
12:27spell a baby and I see beers from
12:30Germany beers from USA beers from Japan
12:35but there's no beer from China and I say
12:37okay type the second worst China no data
12:41nothing nothing and I said 1995 1995 no
12:45data about China so I talked to my
12:48friend why not I make some something
12:50about China so we made uh a small very
12:54ugly looking page called China it's it's
12:58about it's something like I did a
12:59translation agency we listed on there it
13:02was so shocking we launched at 940 in
13:07the morning 12:30 I got a phone call
13:10from my friend he said Jack you know you
13:11got five emails I said what is
13:15email and they said these are the things
13:18say people so excited where are you this
13:21is the first time I see a Chinese
13:23website on that how can we kind of when
13:25can we do something together so I think
13:28this is something interesting so we
13:30should do it why did you call it Alibaba
13:34Alibaba well when I started I think
13:38internet is global we should have a
13:40global name and a name that um
13:43interesting like at that time the B name
13:45is Yahoo right I think I can so I've
13:48been thinking for many days suddenly
13:50think Alibaba is a good name so I I was
13:52happened to be in San San Francisco that
13:55day I have a launch and the wa just come
13:58I asked her do you know about Alibaba
14:00she said yes I said what is Alibaba she
14:03said open
14:04sesame good so I went on the street ask
14:07about 10 20 people they all know about
14:11Alibaba 40 thieves and open sesame and I
14:15think this is a good name and start with
14:18a whatever you talk about Alibaba is
14:20always
14:22top you have said before that in
14:25creating Alibaba you had to create Trust
14:29yeah uh because people in China were
14:32used to face to
14:34face yeah how did you create
14:36trust I think um because we started
14:40about the doing business internet I
14:42don't know you you don't know me so how
14:45can you do things online unless you have
14:48trust so for e-commerce the most
14:52important thing was trust I think when I
14:55first went to USA for raising money
14:58money talking to the venture capitalist
15:01a lot of people say oh Jack no no no no
15:04no no no China doing business about GUI
15:07how can you do business on internet and
15:09I know that without the trust system the
15:13credit system it's impossible to do
15:16business so we we every in the past four
15:2014 years everything we do is trying to
15:23build up the trust system the record
15:26system well char you know I I'm I'm so
15:30proud today when I I talk to the young
15:34today in China and in the world people
15:36don't trust each other the government
15:38and people and and media and everybody
15:41ah this guy is cheating but because of
15:43e-commerce we finish 60 million
15:46transactions every day people don't know
15:48each other I don't know you I send
15:51products to you you don't know me you w
15:55the money to me and I don't know you I
15:57give a p person a package I don't know
16:00him he took something to sew cross the
16:03ocean cross river and understand this is
16:05the trust we have six at at least 60
16:08million trust happening every day but
16:12you created by creating an escro account
16:14in the beginning y you know and so you
16:16keep the money until they got the
16:18product yeah and then you release the
16:19money that's true I mean the escro
16:21services about ali pay when I when I
16:24when I you know this idea I would love
16:26Davos because it was a big decision
16:30because for first three years Alibaba is
16:32just like e Market places for for
16:35information what you have what I have we
16:38talk a lot time but don't do any
16:40business because there is no payment I
16:42talk to the banks no banks want to do it
16:44Banks say ah no this thing never work
16:48so I don't know what to do because if I
16:51start to launch a payment system it's
16:53against the financial legal laws because
16:56you have to have a license but if I
16:58don't do it
16:59e-commerce will go nowhere so then I
17:02went to Davos I listened to a leadership
17:05discussion leadership is about
17:08responsibility and after I listen to
17:10that panel I give a call to my friends
17:13my colleagues in the my apartment say do
17:16it now
17:19immediately if something wrong the
17:21governor happy about that if onebody has
17:24to go to the prison Jack might go to the
17:26prison because it is so so important for
17:29China for the world to build of the
17:31trust system and if you did not do it I
17:35sent and do not do it properly stealing
17:39money money wash no trust record I send
17:43you to the
17:44prison so that was the thing and people
17:47people don't like it so many people I
17:50talked to at that time for Al pay they
17:51say this is the stupidest idea you have
17:55ever got but I say I don't have the
17:58stupid clever as long as people use it
18:01now we have 800 million people using
18:05this Ali pay stupidest things you do is
18:09better alipay is a privately helding
18:10it's not part of Alibaba talk about
18:12money for a second uh you have never got
18:14money from the Chinese government no
18:16none none I I I I um I want at the
18:19beginning at late I don't want it
18:21because I think if the company always
18:24think about a picking money from out of
18:27the government off pockets
18:28that company's is
18:31rubbish think about how can you make
18:33money from the customers and market and
18:35then help customers suceed that's our
18:37philosophy no money from Chinese banks
18:38no no I I at that time I want and now
18:42they going to give me I don't want it
18:44yeah all right um your relationship with
18:48the government M yeah what's your
18:51relationship I mean if they didn't want
18:53here's what some say uh that you have
18:56existed in an environment that's not
18:59they have restricted competition for
19:02you and that's a pretty good thing to do
19:05for a private company yeah I think the
19:08relationship with the government for us
19:10is very interesting for the first five
19:13years because I've been working as a
19:15part-time jobber for a government
19:18organization called Ministry of Foreign
19:20trade 1997 for 14 months and I learned
19:25that you you should never rely
19:26government organization to do
19:29e-commerce and I um started a business I
19:32told my people and team in love with the
19:34government don't marry
19:38them respect them and a lot of people
19:41say well you know government officers
19:43talking to about internet the censorship
19:45and this that and they worry about I
19:48think it's the opportunity it's a
19:50responsibility talking to them tell them
19:53how internet can help so you tell them
19:56we create jobs oh yeah I been I think um
20:00a lot of
20:01people debate and fight against them and
20:05in the first 12 years anybody come to my
20:09office I sit down talking to them how we
20:12can help economy how we can create jobs
20:15why China will improve by the internet I
20:17think um because internet that time is
20:20new to any
20:22government and if you convince
20:25somebody and you have the chance so so
20:28today I'm very talkative that probably
20:31this is why I talk to so many
20:34people so I mean if the government comes
20:36to you and ask you to do something for
20:39them
20:40MH
20:41normally when government comes say Jack
20:44can you do this project I say no I can I
20:47say no can I can introduce some friends
20:50who are interested in doing that for you
20:52but if you if they continue to want me
20:54to do it I say okay I do it but I don't
20:57want I don't charge I hope next time
21:00don't come to me again but recently we
21:05helped some government organization do
21:06for example the the the Every Spring
21:09Festival the train station the train
21:11ticket is so difficult hundreds and
21:14thousands of farmers in work in the
21:16cities in the Spring Festival they go to
21:18the hometown but when they order tickets
21:21on the on the uh the the the the other
21:24way the whole system crashed for 5 years
21:28so I told my young people go support
21:31them don't charge anything because I
21:33don't want to see millions of farmers go
21:36back to city and they cannot buy the
21:38tickets so it's it's something that it's
21:41not for money it's something I it's not
21:43for the government it's for the millions
21:45of millions of people they can buy
21:47tickets in the snowy night and they
21:50don't have the wait they just to buy use
21:52a mobile phone online they got ticket uh
21:55one way stop along the route to where
21:57you are in that big IPO was Yahoo Jerry
22:01Yang gave you a invested yeah a billion
22:05dollars yeah a billion dollars it turned
22:08out to be a pretty good investment for
22:10Yahoo yeah but one time after another
22:13you rais this money on your own outside
22:16of China with
22:19investors yeah I'm very thankful for all
22:21the investors because
22:23um 1999 year 2000 and even at the Y time
22:28a lot of people say this Jack is crazy
22:30he's he's doing something that we don't
22:33understand a lot of venture capitals
22:34give you money because there is such a
22:38American model already there but they
22:41say Alibaba we don't see this kind of
22:43model right they say Jack's crazy yeah
22:45this is crazy guy I mean I remember my
22:47first time in Time
22:50Magazine they call me crazy Jack and I I
22:54think crazy is good we are crazy but
22:56we're not stupid
23:01we know what we are doing but if
23:03everybody agree with me if everybody
23:05believe my our idea is good we have no
23:08chance so that's the money we raised
23:12we're very thankful so when the our
23:14investors makes a lot of money I feel
23:16proud and honored as you know in the
23:18United States issues have risen about
23:20privacy yeah uh Google and apple and
23:24questions of of whether the government
23:26should have access to files how do you
23:29handle that if the Chinese government
23:31says you know a lot about people M you
23:34have transactional relationships with
23:36lots of people M and they say we want to
23:40see your files well so far I don't have
23:44this kind of problems of from Chinese
23:45government and I told them any
23:47government if you come here for the
23:49National Security
23:51anti-terrorist well anywhere
23:54anti-terrorist we work together is a
23:56criminal we work but rest of that no I
24:00said we are business the data is so
24:04precious because we don't know how
24:08because if we give to anybody it's going
24:09to be disaster and also about privacy
24:13issues I think just like uh hundreds of
24:17years ago people say I would have rather
24:20put money under my pillow rather than
24:23putting the banks but today Banks
24:26they're special they know how to protect
24:28money much better than you do privacy
24:30issues all these kind of Securities
24:33today we may not have the solutions we
24:36don't have the answer but I believe our
24:38young people have the Solutions in next
24:4010 20 years there will be break through
24:44on that and I I'm fully confidence on
24:47that your life is a testament to the
24:50idea that nothing is
24:53impossible that if somebody says
24:56no you say it's just the
24:59beginning where does that come
25:03from
25:06well I uh at the beginning I never
25:08thought um I I thought when I was young
25:11I said everything's possible now I know
25:15not everything is possible when you have
25:17something you have to think about you
25:20have to consider about the others you
25:21have to consider about the customer
25:24Society your employees your shareholders
25:28so soet there are so many things that I
25:32think if you continue to work hard
25:34there's there's possibility and
25:40um I just feel that I'm enthusiastic
25:43about what we are doing at the beginning
25:45for the first of five years I just want
25:47to survive and five years later I think
25:50that's 2000 from 9 yeah but later I
25:54think wow so many people's life changed
25:58I was so excited you know for the first
26:01three years we made zero Revenue zero
26:04Revenue but we we are so excited to
26:08continue to work you know what happened
26:10I remember many times when I go to
26:11restaurant have dinner somebody came
26:14when I was trying to pay the
26:16bill the owner of the restaurant came to
26:18say sir your bill is paid by someone and
26:22the small note say hey Mr marah I'm your
26:27customer Ali Baba group Ali Baba
26:29platform I made a lot of money and I
26:32know you don't make any money I pay the
26:33bill for
26:35you yeah and I remember one thing one
26:38day that I was uh sitting somewhere in
26:41the coffee somebody sending me a cigar I
26:44don't smoke cigar but there's a note
26:47thank you very much I'm your
26:48customer and I remember in the top of
26:51days I with the shanga hotel in Beijing
26:54when I got on the taxi the man who
26:56opened the door for me
26:58the boy at the gate he said Jack thank
27:00you very much I'm I'm s here my
27:03girlfriend makes more money than I do on
27:05your site and this is something that you
27:08know that it's not aming if you don't do
27:12it nothing's possible if you try to do
27:15it at least you have the hope the
27:18revenue comes from advertising in a
27:20smaller amount from transactional fees
27:23most of it from advertising tiny tiny
27:26from advertising Tiny from advertising
27:28Tiny from transactions because we need
27:31big Mass when we now we have more than
27:3410 million small business power sellers
27:37selling our site to everywhere so the
27:40big trans the transactions we have is
27:43second after Walmart so tiny second
27:46after Walmart yeah tiny of the transact
27:50of of the money already B us make us big
27:53so you know
27:55we second after walart I remember one of
27:58the Senior Management of warart guys
28:01came to hangzo five years ago he said
28:04Jack you know you're a great job and bl
28:06blah so we I said maybe in 10 years
28:09we'll be bigger than Walmart he said
28:10young man you have a good
28:12hope so we have make a m bat I think in
28:1510 years will'll be Bigg than Walmart on
28:17the sales because if you want have
28:2110,000 new customers you have to build a
28:24new warehouse and this that for me two
28:28servers what's your market cap versus W
28:31Walmart
28:32today I I don't know but maybe yeah some
28:35it's
28:36close I think so maybe we should check
28:39later all right um so where are you
28:41going what does Jack
28:44want I think because the name for
28:46Alibaba we are internet company happen
28:49to be in China we have the same sprit
28:52and an entrepreneur sprit like every
28:56great entrepreneur R preneurs in the
28:58world and I remember the day when I
29:01started Alibaba we want to have a
29:03mission helping small business doing
29:05easier so next step is today so many
29:10millions of small business using our
29:13platform to sell things and over 300
29:18million consumers buy things from our
29:21site cheapest efficient so what I'm
29:25thinking about how we can make Ali Babba
29:27platform for Global small business my
29:30vision is that how if we can help Norway
29:33small business can sell things to
29:35Argentina and Argentina consumers can
29:39buy things online from uh from
29:42Switzerland and we can build up a which
29:44I called the I don't know maybe the
29:47right not right word called ewto the WTO
29:50is great past the entury but W2 have so
29:53many big companies to sell things Across
29:55the Nation today internet can help small
30:00business sell things across the oceans
30:03across the Nations and I hope that um we
30:07can serve two billion
30:09consumers two billion consumer two
30:11billion consumers we can help 10 million
30:14small business outside China help them
30:18outside China outside China because I'm
30:20so because we we helped the American
30:23farmers in Washington state almost
30:27300 tons of cherries to China last year
30:31cherries when they when we before we s
30:34the ambassador of USA came to me can you
30:37help us selling
30:38cherries what cherries the fluts he said
30:42why not I said why not let's try so that
30:45when we order when we start to sell
30:48cherries the cherries still on the trees
30:51so we started pre-order
30:5380,000 families order charries online so
30:56we we
30:57pick up the cherries and SHP into China
31:00within 48 hours we sell the cherries the
31:03consumers so happy and but we got a lot
31:06of letters complain after three days
31:08they say why only 100 tons why we should
31:12not get more so we sell you know last
31:15last two months ago we helped the Costco
31:18we sell 300 tons of nuts to China so I'm
31:24thinking about if we can sell oh no we
31:26also selling Alaska Seafood to China so
31:30if we can sell seafood we if we can sell
31:32the cherries why we cannot help American
31:35and European small business selling
31:37things to China consumers China needs
31:40that so this is what I want to do is
31:43that 10 two billion consumers China Asia
31:47developing nations how we can let them
31:52buy things globally Alibaba rode with
31:56the millions of people people that went
31:58from poverty to the middle class in
32:00China I mean you were right there
32:02growing as they grew and
32:05increased when you look at the
32:06international markets you're doing well
32:08in Russia yeah how well we do pretty
32:12good on Russia and we to do also pretty
32:15good braz Brazil Russia I think now uh
32:19we I don't know we are the if not the
32:21number one we the number two or number
32:23three largest e-commerce e-commerce I
32:26remember
32:27last year we had a
32:30campaign the campaign is that a lot of
32:33Russian girls and boys want to buy
32:35things from China you know how many days
32:38a Russian girl put place in order and
32:41received the products from China two
32:44years ago four
32:46mils even that people are so happy about
32:49all thing and last of the campaign
32:52within one week we crashed the whole
32:55logis system of Russia all right you
32:58were also seen in Hollywood yeah what
33:00are you doing in
33:04Hollywood
33:06well I like the uh the Hollywood um
33:12Innovation and the
33:14digital I learned so much about the
33:17Hollywood movies
33:19especially the forest gum you love
33:22Forest gum I love Forest gum why do you
33:24like
33:25him simple
33:28never give
33:29up people people thinking he's done but
33:32he knows what he's
33:34doing and I was very depressed the day a
33:38year 2002 or three in the states when I
33:43no no no no but earlier than that I was
33:45very depressed when I I could not find
33:47out a way for the internet and I watched
33:50the movie in my friends home Forest G
33:52when I see him I think this is the guy
33:55we should learn from
33:57believe what you're doing love it
34:00whether people like it don't like it be
34:01simple and like the word life is like a
34:04box of chocolate you never know what you
34:06can get right I never know I would be
34:09here talking to you and talking to
34:11Charlie Rose I never know but today I
34:14made it I told my people in my apartment
34:1718 15 years
34:19ago guys we have to work hard not for
34:23ourself if we can be successful 80% % of
34:27the young people in China can be
34:29successful we don't have a rich father
34:31powerful Uncle we don't have a$1 from
34:34Bank when s from government just work as
34:38a team so what do you worry about I
34:41worry about it today young people a lot
34:42of young people lose hope lose vision
34:46and start to complain because I we also
34:49have the same per because when I got
34:52it's not a good feeling being rejected
34:53by so many people we also depressed but
34:58at least later we
35:00find that the world has a lot of
35:03opportunity how you see the world how
35:05you catch the opportunity so and the
35:08Hollywood gives me a lot of uh
35:11inspiration you know but but you out
35:13there for business you out there because
35:15you want to make movies and sell them I
35:17want to make the movie for business wise
35:19we are e-commerce company we we have a
35:22lot of uh products that need logistic
35:26but movie TV these are things you don't
35:29need logistic system and movie probably
35:32is the best product that can help
35:36Chinese young people to understand
35:39because one thing I told the Chinese
35:40people my my friends in American movie
35:44all the heroes at the beginning they
35:46look like a bad guy but terrible things
35:48coming they become hero and finally they
35:50all survived China if you better move
35:53hero all the hero
35:55died
35:57so because only that people become the
36:00hero so nobody want to be the hero so
36:03you want to change the Chinese
36:04definition of hero yeah I want to say
36:07hero today we have so many Heroes live
36:10in this world are you still writing
36:11these Kung Fu novels or you just reading
36:13them I uh read them and I start to write
36:18something I think it's a fine the Kung
36:20Fu it's something you you start to think
36:23about something that you cannot do but
36:25if you have some luck if you continue to
36:27practice if you got a good Master if a
36:30good team you're expert so at least it
36:33make me when I'm busy when I'm tired and
36:35frustrated I read a comfor books and you
36:38also travel with a Tai chai am I saying
36:41that right a trainer trainer taii taii
36:45taii taii
36:46yeah what does that do for you other
36:48than keep you in good Tai taii is a
36:51philosophy about in and young yeah taii
36:55is about how you balance how you work
36:59like a competition people say when I
37:01compete with eBay say you hate eBay no
37:04no no I don't ha eBay it's a great
37:06company you know they come I go you know
37:08taii is like you fight here I go over
37:11there you put on the top I go to down
37:13right so it's a
37:16balance right you are heavy I'm a small
37:19you know when I'm small I can jump
37:22you're heavy cannot jump so the t is
37:25better philosophy I use in your
37:27philosophy in the in the business calm
37:31down there's always way
37:34out and keep yourself balanced and
37:37meanwhile don't try to keep because
37:40business is is a compet competition is a
37:42fun business is not a battlefield you
37:45you die or I win business even if you
37:48die I not win right so it's about it's
37:51better fun so taii give me a lot of
37:55Inspirations you but you want your life
37:57and you want this company Alibaba to
38:00change the world and you are changing
38:03the world if in fact you provide a forum
38:05for buying and you enable people to earn
38:07a living um but also you believe that
38:11Alibaba ought to change the lives of
38:13women so what are you doing at first I
38:16think uh many years ago I want to change
38:19the world now I think if you want to
38:20change the world we change
38:22ourself change ourself is more important
38:25and easier then change the
38:27world and second is that I want to
38:30improve the world because it changed the
38:32world maybe Obama's
38:34job because my job is to making sure
38:39that my team are happy because my team
38:42are happy they can make my customer
38:44happy if my customer they are all small
38:46business when they're happy we are happy
38:48about women one of the secret source for
38:51Alibaba success is that we have a lot of
38:54women what percentage of women
38:58one day before I think two months before
39:00two or three months before we IP there's
39:02America there's American journalist come
39:04to our company she asked me a question
39:08check I've SE so many women your company
39:10I say what's
39:12wrong we have a later we find that you
39:15know we we have 30 or we have
39:1947% of the employees of our company are
39:23women how many 40 47% of our company of
39:27women and we actually had a 51 because
39:29we acquire some company these days they
39:31have more men so balance that but these
39:34are women in top level positions 33% of
39:37the senior of the management are women
39:40and 24% of the seni man very top level
39:44uh women we have a women CEO CFO CPO
39:48Chief people officer and we have
39:50everywhere and I think so comfortable to
39:52working with them because
39:54women in this world
39:57if you want to win in 21st century you
40:00have to making sure that making other
40:02people powerful Empower others making
40:05sure the other people better than you
40:06are then you will be successful so I
40:09find the women they think about the
40:10others more than they think about
40:12themselves women think about the kids
40:16husband parents much more than the man
40:19and they use a friendliness a couple of
40:22things I want to talk about before we go
40:23because we have less than a couple
40:25minutes uh China today are you worried
40:27the economy slowed down oh I don't worry
40:31about I think China is doing it's
40:32slowing down is much better than keep on
40:359% China today is the second largest
40:40economy in the
40:41world it's impossible to keep 9% of the
40:45growth if China still keeps the 9% of
40:48the growth of the economy there must be
40:51something wrong you will never see the
40:53blue
40:54sky and you will never never see the
40:57quality China should pay attention to
40:59the quality of the economy China should
41:01not so if we have a lot of influence you
41:04know like a Hol movies things and we
41:06have a good sports and these things in
41:08the in the the GDP will be much better
41:11so I think just like a human growth you
41:14can never this body can never grow grow
41:16grow grow certain time the slow of
41:19growth of your body was slow but you
41:21should grow your mind grow your culture
41:24grow your value grow your wisdom I think
41:26China is moving to that direction and
41:28you saw Modi in India pardon did you see
41:31Modi in India not yet I'm looking
41:33forward to that you go to India finally
41:36there's this um you're one of the
41:37world's richest
41:39people um your company is one of the
41:41world's richest companies what do you
41:43want beyond
41:47Alibaba well by riches to people I was
41:50uh I told I was really not happy in the
41:55past three months when people say jackma
41:57is the richest people of China Global
42:00celebrity they
42:02said no I'm not I'm not when I start a
42:05business are you are I never thought cuz
42:08how many yeah maybe I am I not but I
42:11think what I 15 years ago in my
42:13apartment my my wife was at that time
42:16one of the 18 Founders I asked her do
42:18you want your husband to be a rich
42:21person I never said rich person in China
42:24rich person in hzo or oh you want to be
42:27your husband to be respected person she
42:29said of course respected because she
42:32never believe and I don't believe we be
42:34rich
42:35people we just don't want to survive but
42:38I believe when you have $1 million
42:40that's your money we you have $20
42:44million you still have problem you worry
42:47about inflation where which is stock to
42:49buy and this that had to come when you
42:51have1 billion dollar that's not your
42:55money that's the trust Society give on
42:59you they believe you can manage the
43:01money use the money better than the
43:03government the others so I think today I
43:06have the resources do more things with
43:09the money we have with the influence we
43:11have we should spend more time on the
43:13young people and I would
43:17say someday I'll go back to teach go
43:20back to school spend time with the young
43:22people and telling sharing with them
43:25what I am so the money is not mine I
43:27just happily and um having this
43:32resources then I want to do better job
43:37just tell them your story yeah tell them
43:39the story and tell them that if I I
43:42don't think in this world there a lot of
43:44people be rejected more than 30
43:46times if we you know the only thing we
43:49never give up the only thing like we
43:51like a forest the gum we keep on fight
43:53we keep on change ourself we don't
43:55complain whether you were successful or
43:57not successful I find that one per
43:59people when they finish the job if they
44:02make the mistake if they fail if they
44:05always complain the others this guy will
44:08never come back if the guy only check
44:12himself yeah something wrong with me
44:14here something wrong me there this guy
44:16has the Hope Jack on behalf of everybody
44:18in this audience uh and a television
44:20audience around the world thank you for
44:22taking your time to be with us thank
44:25you
44:28than thank you thank you so much

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