Sept. 8 (Bloomberg) -- In this clip from 1999, Jack Ma delivers a speech to 17 friends in his apartment to introduce Alibaba and lay out his plan to compete with U.S. internet titans. For more, check out "Crocodile in the Yangtze: The Alibaba Story," premiering on Bloomberg Television Monday Sept. 8 at 9pm EDT.
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Jack Ma visited Silicon Valley (US where Americans live) then went back to China and started Alibaba. Those here who are ignorant to accept the truth are in denial of life itself.
Now we got 50 cent trolls here disrespecting Americans as if the top 10 most valuable companies ‘in the world’ aren’t from US. Don’t bite the hands that feed you! Say what you will but the truth is the truth!!
You've never had a inspirational person in your life before? They all talk like that; full of confidence and passion. It is nothing communist propaganda. In the end Jack Ma is one of the richest guys in the world now.
smart man. Currently its the crypto bubble. It will burst, but it will, like the internet, change the world. You also see how china changed. There are more and more companies who cares about quality and customer happiness. Like Alibaba, Xiaomi, Oneplus.
thats just an example he gave about the so called internet bubble thing, just saying that maybe a small bubble of the internet dream will burst, but other bubbles will rise because of it, the entire internet will never fail.
Paul Wu - I am a Chinese. Both United States and China are giants in our world. I believe that if both United States and China cooperate and work with each other, it is going to have a huge potential to make our world a better world.
Half of them become alibaba Vice CEO, CFO, CPO, CIO…half of them become to supervisors working in subordinate companies now. 3 of them left completely, like jack's wife, she's counting money in home and take care of family. One dude quitted, has immigrated to overseas.
Alibaba's main share holders: In 1999, Goldman Sachs invested USD 5 M for 50% share, then sold the shares out in 2004 at seven times of the cost; in 2000, Masayoushi gave Alibaba 20 M for 37% share, it is worth 54 B now; a few years later, Gerry Young invested 1 B, reaping 27 B. What does Goldman Sachs think now?
Cyril TV I think main issue is shipping and too greedy. most customers in china doesn’t have the mentality to paid some virtual thing like shipping for a year in advance without buying anything. Even I don’t understand why I should pay the membership then later on I have to buy something so I can cover the expense.
The other part is sharing interest with SME. Amazon is greedy, involved in every aspect they can earn from which shrink the profit for SME. The last thing is culture and adaption, most foreign company failed just because they don’t really get in touch with Chinese consumers, they don’t understand what they need. Usually they just think it is successful in somewhere then naturally it is able to success in China too, so often they just form a foreign management and relocate to China. But in China business is different, it is social.
The influence of government is exaggerated by u media. Usually, the new business start with no law, so it is not illegal, and no government action involve, until one day it grows big and has risk, then government step up and make regulation. When the time comes, those MNC if they are doing well, they will compile to the regulation like Apple will continue, those didn’t doing well like Google will just quit with execute. But the truth is when google quit Chinese market just because he loose the competition with Baidu(Chinese search engine), we don’t speak or write English in china so often, even the search result is more useful and higher quality than those found in Baidu, it is still useless as people don’t understand. It is really a big mistake google quit the market, especially they marketing it as so call suppression, too hard for them to make a coming back
His acknowledgement in the suffering that came in the upcoming years is one of two things that really stood out to me in this speech. Too often do people disregard this and lose faith of the long term goal they originally had in mind.
That´s why he succeeded
after analyzing his words it came to me one specific part, he saw on his competitors (americans) the knowledges that alibaba can learn, but they never felt superior or lower than them, when he said that chinese brains are good as theirs, that make them powerful in their minds, ethic and personal development
Very good advice from a living legend that is Jack Ma
Different. This is more technical than jobs. Jack is a master of technical things like many asians. He already give the details abput how many years, what years & how much time we have to do our works.
Instead of jobs, who often talks about dream, passion & idealism. They're not comparable