Jack Ma is one of the greatest Chinese entrepreneurs to have ever lived, having founded Alibaba in 1999. It’s been said that he has great charisma, drawing the Chinese towards him as a leader. He’s given some interesting advice not just on business but on life in general, some of which I still remember to this day.
-when you worry too much, you will not move forward
-EQ and LQ are far more important than IQ, as I can even see that in people around me
-when people around you disagree or don’t know, then that is opportunity
-you learn from failure, not success
-to be respected, you need high LQ (love quotient)
-academia usually has high IQ, lower EQ
-in order to succeed in life, one MUST have a high EQ, not a high IQ
-“do you want me to be rich or respected?”
-I know people, not academics. Win other people by supporting them.
asks himself three questions to stick to his goals. What do you have? What do you want? What will you give up?
-focus for small business – EWTP, electronic worldwide trade platform
-amazon – empire
-alibaba – ecosystem
-happiness and health
-failure and persistence is the key to success, not success
-Alibaba focus on small business, and even offer 310 loan system to alibaba vendors
-only yesterday was certain, tomorrow is always uncertain
-he wants to die on the beach, not in the office
-Information Age takes 50 years. First 20 years since 2000, new companies. Next 30 years, is the key stepping stone of society for how technology includes the world and evolves to become productive for all, not just itself and its shareholders (the FANGs)
-do you want a rich husband or a principled husband
-when you love someone, you may not have logic or reason
-when you hate someone, you will have logic and reason
-change your mentality of the world; is it full of threats or opportunity? If you see opportunity, that is good
-only when there are problems is there opportunity
-Alipay/Alibaba $1 trillion yuan per day transactions
Zhang Yong, Daniel Zhang: Alibaba is ultimately a data company, and data is the new oil