Every time we discuss about small business entrepreneurs and women entrepreneurs, we always feel excited, and this time I came back to Toronto. Almost two fifteen years ago, in a winter I came to Toronto and then I was I came here with like a ten Chinese internet entrepreneurs and also with a lot of internet guys at that time, Internet a bubble, just a bursted.
So we discuss about the future of Internet and I was the believer and I believe, ecommerce. I believed Internet. Even the Internet bubble burst and many of my colleagues at that time said they’re talking about.
We shall raise more money change, our internet business into real business and they considered – I was the crazy guy and fifteen years later, I am the only working back because we believe in we believe the Internet.
We believe entrepreneurship, we believe the future. I would love to discuss something about the failures mistakes we made. The thing I feel mostly thankful is all the mistakes of the refused that I got, because we thought that there would never be a Lee baba in the past of eighteen years.
Every day we make mistakes every day we were rejected, I think, being rejected, be refused by people that is very natural. Why people should help you? You have to prove yourself. Then people were to help you Alibaba was not a made today.
Alibaba was made 80 years ago in my apartment. They leaving that using Internet empower others using in Internet to help young people. Small business and women will have broad future. So it’s been 18 years hard-working we came here today.
There are a lot of books about us. I don’t, read these books because I think these books not about us people, love to see successful stories but most of the success stories they succeed because of the mistakes.
I encouraging all the young people entrepreneurs to learn from the mistakes, to not a study, successful stories, successful successful stories in the Harvard Business School. Normally, you know there are a lot of things behind you.
Don’t know, but if you learn from the mistakes, if you learn especially the famous cases studies it’s, going to help you what I want to say it’s, not about you. You learn from mistakes. That’s, not me you and avoid mistakes.
You will learn the attitude towards these mistakes and never give up fighting again. Of course it’s, a bit very painful. When you’re rejecting when you’re refused. I went to all the round to look looking for money.
Nobody give us some money. I all go around looking for partnerships, nobody believe small business and e-commerce in China were the work. I was very painful that day and when I saw one movie Forrester gum.
I love that movie, especially the sentence said mom said life like a box of chocolate. You never know what you’re gonna get so stay fool, stay foolish to a dream and continue to fight. So this is what we did as an entrepreneur.
We never complained when people complain the opportunity comes. So if you can solve the complaints, that is your opportunity. So I love to when I talk to the intrapreneurs, I feel excited when I’m sitting there.
Listen to the the entrance talk a few sing spite a few. We are the same animal. The difference between big companies, small company, is not about revenue. It’s about the dream. The small companies have the dreams most of the big companies.
When they get certain size, they only have KPI. So if you fight only for next quarter, how can you survive in such a turbulence times? You have to believe the future. You have to continue to the future.
You have to stay focused, as I said, to myself early days. If there are nine rabbits on the ground, if you want to catch the rabbit don’t change, the rabbit change yourself, stick to one rabbit. If you have the dream, stick to the dream.
That is what I believe. So this is what I I want to say is that Alibaba started eighteen years ago. We never change our dream, we believe ecommerce, we believe Internet, we believe by helping young people helping small business and helping empower women, we will have the future the difference between last century and this century.
The difference between I T and DT. Is IT empower yourself, DT empower others when you help others, you are helping yourselves. This is what we believe 18 years ago, 18 people in my apartment. When we had this dream, where we studied everybody say you guys are crazy.
How can two e-commerce? No infrastructure? No credit system, no logistics, no, this! No, that how could you do in Internet? We say if there’s, no logistic, that’s, a beauty if there’s, no credit system that’s, beauty.
That is why we need they need entrepreneurs. I remember where we launched the Taobao was funny where we launched about. We thought we’re, going to have a big business in about one month, but for the first five days nobody come here even shopping.
So the 7th called in price in my apartment, we have to buy ourselves, he sell we buy and the first. You know the first amounts where somebody came to sell, no matter whatever he sell, we buy them. That will tell the self the sense of world this.
They really try be able to sell so more people come sell. So we bought a whole house of things garbage there no use, but at least we build up the trust where, instead of self will step to learn and we learn the experience of selling.
We learn experience of the servicing today from nobody from nothing. We have got from eighteen people to fifty thousand people from nobody come to sell and a buy. We got a five hundred million more than 500 million users, and every day two hundred million people come to sell and buy on the Alibaba site on the team on Taobao, we sell things not by mouse.
We sell things not a by day. We sell things by seconds, and this is not only today. This is the future. I want to tell you 10. 20 years later. All these things will be natural, everyday things Camila.
If you hit the sweet point, if your products good, if your service good your products, we have yourself because they’re Billa. Today. The whole world is about 1.8 billion people online right and only less than I got 800 million people shopping online.
We believe, next to 20 years they were adding another 3 billion people online and and that’s. The next 10 20 years, 60 percent of the people will shop online. So ecommerce is gesture a beginning and we spy selling no revenues and knows nobody.
Come to sell last year we sold 550 billion US dollars and for one single ursday last year we sold more than 1.8 billion US dollars on 8 18 billion US dollars one day. So this this thing you can never imagine, but we said 10 years later, every day we may sell 18 billion dollars even at our size.
Today we still think we are small business because we still have the dreams. We think our measures are helping doing business easier. There are so many small business. There are so many developing countries.
There are so many opportunities there. There are so many people still not online shopping online, sells that we should do so. Our dream is to make our company the fifth largest economy online. We think in the future there will be a virtual economy that will enable every individual every small business they can global, sell, global by global pay, global deliver and global tour travel around.
This is what we believe most people seeing is believing, but real entrepreneurs and leaders. We believe, then we see we believe the future. Then we will see the future. So if you believe that you can do it, you should continue to do it and wait and fight for at least 80 years, if not 18 years.
The next thing I want to share with you is, I think, there, the whole world most of the people in this world. Much on the apps made underestimate the big impact of this technology is going to bring to the human beings.
Well, as I said when people complain, opportunity comes the world is when I was young. I complain a lot as a you know, Microsoft, to take away with my job Oracle. Take my way our job because of IBM we can ever do pcs so later realized.
We should not learn from Bill Gates. We should not learn from Larry era, so we should learn from the grandmother next to my dog. How can she make our business so good by opening a dumpling shop, because when you compare yourself to Bill Gates, the jekima, you feel frustrated? But if you’re compared to the next-door person, you learn how to do business by details and human being.
Today are facing the fifth-largest: opportunities of human beings, the first technology revolution, the second technology revolution, the first technology revolution, release the human human, the body right now.
So we know the machine is more powerful. They’re human beings and the second technology revolution releases the human distance, so they’re playing the D airplanes and a train all go, but this technology revolution released the human brains.
People start compete by wisdom by knowledge, not by muscles. This is why I believe women have much more opportunity and should be the leadership’s of this entry. It is, it is the competition of careful others.
It is the competition of wisdom, not muscles right. This is what we believe and also, I would say, in every technical knowledge. Revolution takes about 50 years. The first 20 years is about technology.
The next 30 years is about imprecation application of the technology. Electricity was not invented in America was in Europe, but America made it. A big cars was not invented in the USA, but you as a using car make their country on the wheels.
So this is what we think that the past of 20 years is about Internet technology, Internet companies, Amazon, eBay, Facebook, Google, Alibaba these companies, but these companies may not be necessary. We still be very powerful in next 10 20 years if they does not continue to be innovative, if continue to be right running fast.
So who will be the next wave? Those companies, those countries make full use of this technology? Make full use of this interest in ternate as infrastructure they will brooming. This is what we we truly believe.
So next, a third years are the critical those companies who can using this internet technology data’s, artificial intelligence, their company were booming. So the other thing is that the four can afford fee for these new technology.
Comes everybody be careful. It’s, a challenge for big companies. It is opportunity for small business because big companies they’ve, been there for for, like a 50 or 20 years very successful. They want to protect for us small business.
We have nothing to lose. So we should learn from scratches, we learn from it and I believe in the past 18 years of experience, the most difficult of thing in this world is to convince in successful people they will tell.
You are now will be doing that for years, don’t don’t. Tell me, Internet is works, but it’s. Easy it’s good to help those people who want to be successful, so helping young people is helping future believe in young people is believing your future.
What we did in the past 18 years or 50 years ago, when we launched about nobody, want to use in Tapan Timo, so we try to convince in those people who are 18 years old. They don’t have money they want that buy.
You know cheaper things and tiny things. Those people who are 40 years old, they don’t, buy it. They think nananana. We don’t like it. So we said for 18 years people in in China in the old days when we convincing older people with convincing young people, but now we convince the young people or come into other people, so those 18 years old.
We wait for them for 10 years. When they are 28, they out there will be the future. That is why we have a patience for 15 years ago. We’ve, been waiting for 15 years and to today, so that is called a strategy.
The next thing I want to talk about the trait I’m, a fully believer of free trade and globalized trade, and I think when trade stops washed us, so we trade is not buy things. Trade is appreciation of the culture of the other side.
How can you stop trade? People are moving very fast. There is one thing for sure: a lot of jobs will be taken away because of the artificial intelligence because of a robots. Don’t worry about that people say: artificial intelligence is going to control machine is going to kill it’s, going to control human being trust me, human being will never be controlled by machines.
We invented the trains and the cars at that time. We all worry about these cars and trains, electricity, but finally, human being chunchu. That and i want to tell you that artificial intelligence is going to create a lot of new jobs, but the next ten years are going to be trouble, and i want to say that manufacturing is not going to create a lot of jobs because most of the Manufacturers were produced by artificial, intelligent robots.
The service industry, tourism is going to create a lot of jobs. Service is going to is going to create a lot of jobs, but when people don’t have jobs, what are people going to do it’s? A lot of people worried what I’m gonna.
Do I tell you at that time, most of people will only work four hours a day and three days a week, but how can we surviving? I tell you, even if you work four hours a day three days a week, you will still be very busy.
My grandfather working 16 hours a day in the farm he said I’m very busy. We work eight hours a day five days a week. We think we’re very busy. So I tell you where you only worked four hours a day. You know three days a week.
You would be very busy, you would travel all around. You were always moving. You were always on the car, because normally we only visit the 30 cities in our life. 10. 20 years later, you have visited 300 cities in your life, so you’re, always on the way when you are always on the way.
You are always mobile, where your old mobile, how can stop globalization? It’s, impossible people, love to trade. So remember one thing that way: trading the formality of trading is completely changed.
Normally small business, big companies go to the trader, shows we small business. We don’t have a budget. We cannot get the visas, we cannot have the time go to the trader show the best the trader shows is online in the future.
It’s, not an e-commerce. It’s, a business in the future. There will be no made in China made in America made in Canada in the future most of the products made in Internet. You may design here and sell there and an assembly here, so all the things next 10.
20 years. The way we do business is totally different, so get ready for that. So the distance is not a is no longer being issues think about it. The questions we got 15 years of when we do you conversation people say how can you deliver things from Beijing to Shanghai in you know, in the five days how expensive, what’s, the cost of delivery? Today we can deliver a Beijing to Shanghai and I’m like three or four hours within 24 hours.
Most of the cities in China will be covered most of big cities. Half now will be covered. Our vision is that a next 10 years most of those countries in the world will be 72 hours. So distance is an alarming issue, sell things from Toronto to Chicago there’s, no difference between Toronto to Chicago and turn to Shanghai.
Everything will be delivered within 72 hours because of the new supply chains. Things could be even much efficient, more efficient things could be much more cost-effective, so this is what we believe the future.
This is what we believe Internet a payment logistics systems data is going to change the whole world. A lot of jobs is losing a lot of new jobs or coming up, and I want to tell you that, for all these small business entrepreneurs remember one thing: 80 % of the small business in the future must be globalized.
If you are not globalized the company, you will never be able to survive easily and if you do not use the internet to globalize, not the necessary Alibaba. If you do not use the internet to globalize your business, you will not have a chance.
If you do not know C to be because last century manufacturing is about a b2c in the future, is got to see to be consumer to business. So all the model is going to change every small business. All the young people here think globally.
Think a big are you only in the future. In the past, you’re, going to do things. If you do things you’re only small country, your small, tiny business, small business can leverage the Internet technology leverage the market go across.
The board think big and think out of the boundaries. This is a prime minister. I absolutely agree with that. So it’s, say never too late. Never too late to learn to that Internet is just the beginning.
Ecommerce is just beginning. The good thing about a young people is that we always people learning one of the reasons. People say what’s. The secret of China grows so fast. One of the things that we Chinese learn very much in the past of 30.
We learn a lot of America if it today go to New York, pick up a 100 Americans on the street. How many of them can speak more than 10 Chinese words very few? If you in Beijing Shanghai, you grasp a 100 young people and asking honey, how many of them can speak more than 20 English words, eighty of them.
That is, you learn where your appreciate, where you open mind it. When you learn from others, you make progress. So this is, I think, never too late through the internet. Internet technology is just the beginning.
People like me, I know nothing about technology. The only thing I can use my computer thanks because the mobile I don’t have to learn computers, the PC, the only thing I can send receive emails and browse, but I believe technology is designed for people.
People should not focus for technology for technology reasons. The third. The next point I want to make talk about China. China changed so much it’s, it’s. Amazing, we ‘ Ve got one point: four billion people and we got eight hundred million people online and five hundred million people already online shopping.
So we still have 900 million people on the way to online shopping. So there are about 300 million middle class and we have a hundred thirty million people travel outside China every year. Guys imagine, can’t.
Imagine 130 million people travel around the world. It’s a movie country. Today we have a 300 million middle-class. We are soon going to have five more than five hundred million middle-class. You have any ideas how many chickens Chinese people eat.
Every year we eat the more than seven billion chickens every year it’s, like the population of a human being. We eat more than 600 million pigs every year, so it’s, a huge huge demand and nobody believed the logistic package delivered.
We today in China, deliver over 80 million packages every day and on the single estate last year we created 650 million packages in one day we believe 10 years later, every day there will be 1 billion 1 billion packages.
This is all the things that is happening, and I want to say that it for Canada past 50 years, USA, is the market. Today, China is the market. Today, China thing 300 million middle class is a bigger than total American population.
It’s just the beginning, so please learn to business online with Chinese people are doing Chinese business with Chinese is very difficult. Let me tell you doing business with any people is difficult right, but there’s.
One thing why I love a prep: no, I are like a Canada products. I have a Canada, goose and a lot of my wife buy a lot of stuff from Canada. You have 1.5 minute Chinese community here. These are your ambassadors of your products.
They are telling every Chinese of the environment the beauty, the products, so we should have leverage that, and I think, if you cannot a do business with the Chinese, it would be difficult for you guys to do business with other nations.
Yes, I believe, and you have to learn to business, doing things online as I said online business that is not difficult. They always build up the trust and one p element, one of the secret source of Alibaba success is: we have close to 50 % of employees.
A woman and Internet time women because they care others more than they can sell they they usability so good. They online they care for the others. So most of the we have a more than 47 48 percent of employees of our company of women.
We have a 33 % of the senior management and women, these people that consider the others so online time, ecommerce town where dude business cross the ocean across the board, I would say think out of the box, and so this is something I want to say doing.
Business in China learn to do that where you know how to do business with China. You are definitely on how the business Southeast Asia, because we share the same culture and also in the next 10 20 years.
If you do not know how to do online business, it’s going to be just like 10 years ago. If you do want to do international trade, you don’t know how to big. English is tough, but of course we know how to speak.
Your English doesn’t that mean you can do a good business. The other thing that I want to talk about is globalization is opportunity for everybody. I think globalization is only a baby. Past 20 years, the globalization, especially the trade, is controlled by 60,000 big companies.
The world was 20 80, a lot of companies in the 20 %, and you know they just to focus on 20 % of the big companies and developing countries. We believe the world should be inclusive. Globalization should have inclusive young people should have the opportunity small business and opportunity.
We hope that every government have free trade zones for small business. There are a lot of free trader zones, but they are designed for big companies. If we encourage the small business import/export, they should have the same rights like any big companies within 24 hours, custom clearance.
This is what we think. We should also have the same all kinds of texting privilege for small business, and this is what we believe, and every country should pay special attention to. The 30 next of 30 years pay special attention to those young people who, below 30 years old, pay special attention to those company who have less than 30 in price.
By the way, let me tell you, 13 price in the industrial times is a small business on the digital time. They’re, huge big companies. So I want encouraging everybody here that using internet do business with China and whether you do business with through Alibaba, eBay or Amazon or whatever.
That is ok. This is the skill every small business must have and if you want to open the huge market, China is the market. If you cannot find your customer from 1.4 billion people, you really have a big problems there right.
So if it is a big market, it is the way to do business. Why not have a try don’t, be free? Don’t be scared. Today we do business, which is much easier than 1000 years ago. Our ancestors, it took eight years for Marco Polo from Italian to China and eighty years from China back to Italy.
Today it only takes less than eight seconds. You can go to China, one million times think about at that time. There are so dangers on the road. Today, nothing don’t worry up too much about IP God. The fear don’t worry about a privacy security.
Human being have ways to solve these problems. Don’t worry about artificial intelligence is going to kill our jobs. Artificial, intelligent you tell it. Technology will create enough jobs. We don’t have a solution, but there is a solution.
We don’t have a solution. Young people have solutions early days where electricity was invented. People worry about that with pure a lot of jobs. People worry about that will cure a lot of lives. We know how to control that so be confidence as entrepreneur and the small business have a dream: stick your dream and be future dreams and believe the future and high as many young people as possible because they are nest, never scared.
Today, the world is full of scary. If our my this data, young people, never scared what this scares they scare about us, we make wrong decisions. We make the wrong policies, we killed their future, so trust at the young people.
Just a small business built environment build the ecosystem for them. This is our future and please take one thing: Alibaba would be honored a love to be the gateway to China. Alibaba will be the Gateway to the global market mission.
Why Alibaba? Why? We call Alibaba, of course, Alibaba easy to spell everywhere in the world. Yes, you pronounce the same. The other thing is Open Sesame. We believe Internet is a treasure island. We should Open Sesame for everybody, every small business and every young people, so please take Alibaba as the gateway we want to enable every small business we without a small business with the young people with that women there will be no Alibaba today, so we will continue To do that and we’ll continue to work with you.
Thank you so much [ Applause, ]