All of you alumni with a special bow to the class of 88 115 million dollars and to you, members of the Harvard class of 2013 hello. I thank you for allowing me to be a part of the conclusion of this chapter of your lives and the commencement of your next chapter to say that I’m.
Honored doesn’t even begin to quantify the depth of gratitude that really accompanies an honorary Doctorate from Harvard not too many little girls from rural Mississippi have made it all the way here to Cambridge, and I can tell you that I consider today, as I sat on the stage this morning getting teary for you all and then teary for myself.
I consider today a defining milestone in a very long and a blessed journey. My one hope today is is to is that I can be a source of some inspiration. I’m, going to address my remarks to anybody who’s ever felt inferior or felt disadvantaged felt screwed by life.
This is a speech for the quad. Actually I was so honored. I wanted to do something really special for you. I wanted to be able to have you look under your seats and there would be free free, a master and doctoral degrees, but I see I see you got that covered already.
I will be honest with you. I felt a lot of pressure over the past few weeks to come up with something that I could share with you that you hadn’t heard before, because after all y’all went to Harvard I did not, but then I realize That you don’t have to necessarily go to Harvard to have a driven, obsessive, type-a personality, but it helps, and while I may not have graduated from here, I admit that my personality is about as Harvard as they come.
You know my my television career began. Unexpectedly, as you heard this morning, I was in the Miss fire-prevention contest. That was when I was 16 years old in Nashville Tennessee and you had the requirement of having to have red hair in order to win up until the year that I entered.
So they were doing the question and answer period because I knew I wasn’t going to win in the swimsuit competition. So during the question and answer period, the question came: why young lady? What would you like to be when you grow up and by the time they got to me all the good answers were gone, so I had seen Barbara Walters on The Today Show that morning, so I answered I would like to be a journalist.
I would like to tell other people’s stories in a way that makes a difference in their lives and the world and, as those words were coming out of my mouth, I went whoa pretty good. I would like to be a journalist.
I want to make a difference. Well, I was on television by the time I was 19 years old and in 1986 I launched my own television show with a relentless determination to succeed at first I was nervous about the competition and then I became no competition.
Raising the bar every year pushing pushing pushing myself as hard as I knew sound familiar to anybody here. Eventually, we did make it to the top and we stayed there for 25 years. The Oprah Winfrey Show was number one in our timeslot for 21 years and I have to tell you I became pretty comfortable with that level of success, but a few years ago I decided, as you will at some point, that it was time to recalculate find new Territory break new ground, so I ended the show and launched own the Oprah Winfrey Network.
Initials just worked out for me. So one year later, after launching on nearly every media outlet had proclaimed that my new venture was a flop, not just a flop, but a big, bold flop. They call it. I can still remember the day I opened up USA Today and read the headline Oprah.
Not quite standing on her own, I mean really USA Today now that’s, the nice newspaper, it really was this time last year, the worst period in my professional life I was stressed, and I was frustrated and quite frankly I was I was actually.
I was embarrassed. It was right around that time. The president first called and asked me to speak here, and I thought you want me to speak to Harvard graduates. What I, what could I possibly say to Harvard Graduate some of the most successful graduates in the world in the very moment when I had stopped succeeding, so I got off the phone with president vows and I went to the shower.
It was either that or a bag of Oreos, so I chose the shower and I was in the shower a long time and as I was in the shower, the words of an old hymn came to me. You may not know it. It’s. Bye-Bye when the morning comes – and I started thinking about when the morning might come, because at the time I thought I was stuck in a hole and the words came to me – trouble trouble don’t last always from that him.
This too shall pass, and I thought, as I got out of the shower, I am going to turn this thing around and I will be better for it and when I do, I’m gonna go to Harvard, and I’m Gon na speak the truth of it, so I’m here today to tell you I have turned that Network around and it was all because I wanted to do it by the time I got to speak to you all.
So, thank you so much you don’t know what motivation you were for me. Thank you. I’m, even prouder to share a fundamental truth that you might not have learned even as graduates of Harvard unless you studied the ancient Greek hero with Professor Nagy, professor Naja, as we were coming in this morning, said.
Please Miss Winfrey, walk decisively. I shall walk decisively. This is what I want to share it. Doesn’t matter how far you might rise at some point. You are bound to stumble because, if you’re constantly doing what we do raising the bar, if you are constantly pushing yourself higher higher the law of averages, not to mention the myth of Icarus, predicts that you will at some point fall and when You do I want you to know this.
Remember this. There is no such thing as failure. Failure is just life trying to move us in another direction. Now, when you’re down there in a hole, it looks like failure. So this past year I had to spoon-feed those words to myself and when you’re down in the hole when that moment comes it’s really, okay, to feel bad for a little while give yourself time to mourn what you think You may have lost, but then here’s.
The key learn from every mistake, because every experience encounter and particularly your mistakes are there to cheat you and force you into being more of who you are and then figure out. What is the next right? Move and the key to life is to develop an internal moral, emotional GPS.
That can tell you which way to go because now and forevermore when you, google, yourself, your search results will read javed 2013 and in a very competitive world. That really is a calling card, because I can tell you as one who employs a lot of people when I see Harvard, I sit up a little straight and say: where is he or she bring them in it’s, an impressive calling card that Can lead to even more impressive bullets in the years ahead lawyer senator CEO scientists, physicists winners of Nobel and Pulitzer Prizes or late-night talk, show hosts, but the challenge of life I have found is to build a resume that doesn ‘
T simply tell a story about what you want to be, but it’s, a story about who you want to be it’s, a resume that doesn’t just tell a story about what you want to accomplish, but Why a story that’s, not just a collection of titles and positions, but a story that’s really about your purpose, because when you inevitably stumble and find yourself stuck in a hole, that is the story that will get you out.
What is your true calling? What is your Dharma? What is your purpose for me? That discovery came in 1994 when I interviewed a little girl who who had decided to collect pocket change in order to help other people in need.
She raised a thousand dollars all by herself and I thought what a nine-year-old girl with a bucket and a big heart to do that. I wonder what I could do so I asked for our viewers to take up their own change collection and in one month, just from pennies and nickels and dimes, we raise more than three million dollars that we used to send one student from every state in the United States to college that was the beginning of the Angel Network, and so what I did was, I simply asked our viewers do what you can, wherever you are from wherever you sit in life, give me your time or your talent, your money.
If you have it, and they did extend yourself in kindness to other human beings, wherever you can and together we built 55 schools in 12 different countries and restored nearly 300 homes that were devastated by Hurricane, Rita and Katrina.
So the angel Network – I’ve, been on the air for a long time, but it was the angel Network that actually focused my internal GPS. It helped me to decide that I wasn’t just going to be on TV every day, but that the goal of my shows my interviews, my business, my philanthropy, all of it, whatever ventures I might pursue, would be to make clear that what unites Us is ultimately far more redeeming and compelling than anything that separates me, because what had become clear to me – and I want you to know it – isn’t, always clear in the beginning, because, as I said, I’ve, been on television.
Since I was 19 years old, but around 94 I got really clear. So don’t expect the clarity to come all at once to know your purpose right away. But what became clear to me was that I was here on earth to use television and not be used by it to use television to illuminate the transcendent power of our better angels.
So this angel network, it didn’t, just change the lives of those who were helped, but the lives of those who also did the helping. It reminders that no matter who we are or what we look like or what we may believe it is both possible and, more importantly, it becomes powerful to come together in common purpose and common effort.
I saw something on the bill more show recently. That so reminded me of this point. It was an interview with David and Francine wheeler. They lost their seven-year-old son Ben in the Sandy Hook tragedy and even though gun safety legislation to strengthen background checks had just been voted down in Congress at the time that they were doing this interview, they talked about how they refused to be discouraged.
Francine said this, she said our hearts are broken, but our spirits are not. I’m, going to tell them what it’s like to find a conversation about change. That is love, and I’m going to do that without fighting them and then her husband, David added this you simply cannot demonize or vilify someone who doesn’t agree with you, because the minute you do that your discussion is over And we cannot do that any longer.
The problem is too enormous. There has to be some way that this darkness can be banished with light in our political system and in the media. We often see the reflection of a country that is polarized, that is paralyzed and is self-interests did and yet I know you know the truth.
We all know that we are better than the citizen and the pessimism that is regurgitated throughout Washington and the 24-hour cable news cycle, not my channel. By the way. We understand that the vast majority of people in this country believe in stronger background checks, because they realize that we can uphold the Second Amendment and also reduce the violence that is robbing us of our children.
They don’t have to be incompatible, and we understand that most Americans believe in a clear path to citizenship for the 12 million undocumented immigrants who reside in this country because it’s possible to both enforce our laws and, at the Same time, embrace the words on the Statue of Liberty that have welcomed generations of huddled masses to our shores.
We can do both and we understand. I know you do because you went to Harvard that people from both parties and no party believe that indigent mothers and families should have access to healthy food and a roof over their heads and a strong public education, because here in the richest nation on earth, we Can afford a basic level of security and opportunity, so the question is: what are we going to do about it? Really, what are you going to do about it? Maybe you agree with these beliefs.
Maybe you don’t. Maybe you care about these issues, or maybe there are other challenges that you class of 2013 are passionate about. Maybe you want to make a difference by serving in government. Maybe you want to launch your own television show, or maybe you simply want to collect some change.
Your parents would appreciate that about now. The point is: your generation is charged with this task of breaking through what the body politic has thus far made impervious to change. Each of you has been blessed with this enormous opportunity of attending this prestigious school.
You now have a chance to better your life, the lives of your neighbors and also the life of our country. When you do that, let me tell you what I know for sure that’s when your story gets really good.
Maya, Angelou always says when you learn teach when you get give that my friends is what gives your story purpose and meaning. So you all have the power in your own way, to develop your own angel Network, and in doing so your class will be armed with more tools of influence and empowerment than any other generation in history.
I did it in an analog world. I was blessed with a platform that, at its height reached nearly 20 million viewers a day now here in a world of Twitter and Facebook and YouTube and tumblr, you can reach billions in just seconds.
You’re. The generation that rejected predictions about your detachment in your disengagement by showing up to vote in record numbers in 2008 and when the pump that’s, when the pundits said they said they talked about you, they said you’d, be too Disappointed you’d, be too dejected to repeat that same kind of turnout in the 2012 election, and you proved them wrong by showing up in even greater numbers that’s.
Who you are this generation? Your generation, I know, has developed a finely honed radar for BS. Can you say BS at Harvard the spin and phony nests and artificial nastiness that saturates so much of our national debate.
I know you all understand better than most that real progress requires authentic, an authentic way of being honesty and, above all, empathy. I have to say that the single most important lesson I learned in 25 years, talking every single day to people, was that there is a common denominator in our human experience.
Most of us, I tell you, we don’t want to be divided. What we want, the common denominator that I found in every single interview is: we want to be validated. We want to be understood. I’ve done over 35,000 interviews in my career and as soon as that camera shuts off.
Everyone always turns to be, and inevitably in their own way, ask this question was that okay, I heard it from President Bush. I heard it from President Obama. I’ve, heard it from heroes and from housewives I’ve, heard it from victims and perpetrators of crimes.
I even heard it from Beyonce and all of her Beyonce nests. She finishes performer hands me. The microphone and says was that okay, friends and family yours enemies strangers in every argument in every encounter every exchange, I will tell you they all want to know.
One thing was that: okay, did you hear me, do you see me did what I say mean anything to you, and even though this is the college where Facebook was born, my hope is that you would try to go out and have more face-to-face conversations with people.
You may disagree with that. You’ll, have the courage to look them in the eye and hear their point of view and help make sure that the speed and distance and anonymity of our world doesn’t cause us to lose our ability to stand in somebody Else’s shoes and recognize all that we share as a people.
This is imperative for you, as an individual and for our success as a nation. There has to be some way that this darkness can be banished with light, says the man whose little boy was massacred on just an ordinary Friday in December, so whether you call it soul or spirit or higher self intelligence.
There is, I know this there’s, a light inside each of you all of us that illuminates your very human being miss if you let it and as a young girl from rural Mississippi. I learned long ago that being myself was much easier than pretending to be Barbara Walters, although when I first started because I had Barbara in my head, I would try to sit like Barbara talk, like Bob remove like Barbara and then one night, I was on the News reading the news – and I call Canada, Canada – and that was the end of me being Barbara.
I cracked myself up on TV, couldn’t stop laughing and my real personality came through and I figured out oh gee. I can be a much better Oprah than I could be a pretend Barbara. I know that I know that you all might have a little anxiety now and hesitation about leaving the comfort of college and putting those Harvard credentials to the test, but no matter what challenges or setbacks or disappointments you may encounter along the way.
You will find true success and happiness if you have only one goal: there really is only one, and that is this – to fulfill the highest most truthful expression of your self. As a human being, you want to max out your humanity by using your energy, to lift yourself up your family and the people around you theologian Howard Thurman, said it best.
He said don’t ask yourself what the world needs ask yourself. What makes you come alive and then go do that, because what the world needs is people who have come alive. The world needs people like Michael stalls and Berg from Fort Lauderdale.
When Michael was just 8 years old, Michael nearly died from a bacterial infection that cost him both of his hands and both of his feet and in an instant. This vibrant little boy became a quadruple amputee and his life was changed forever, but in losing who he once was Michael discovered, who he wanted to be.
He refused to sit in that wheelchair all day and feel sorry for himself. So with prosthetics he learned to walk and run and play again. He joined his middle school lacrosse team and last month when he learned that so many victims of the Boston Marathon bombing would become new amputees.
Michael decided to banish that darkness with light Michael and his brother Harris created Mikey’s, run comm to raise 1 million dollars for other amputees by the time. Harris runs the 2014 Boston Marathon.
More than a thousand miles away from here. These two young Brothers are bringing people together to support this Boston community. The way their community came together to support Michael and when this thirteen year old man was asked about his fellow amputees.
He said this first, they will be sad. They’re, losing something they will never get back and that’s scary. I was scared, but they ‘ Ll, be okay. They just don’t know that yet we might not always know it.
We might not always see it or hear it on the news or even feel it in our daily lives, but I have faith that, no matter what class of twenty thousand thirteen you will be, okay and you will make sure our country is okay.
I have faith because of that nine year old girl who went out and collected the change, I have faith because of David and Francine wheeler. I have faith because of Michael and Harris Stoltenberg and I have faith because of you, the network of angels sitting here today.
One of them, Khadija Williams, who came to Harvard four years ago, Khadija, had attended 12 schools in 12 years, living out of garbage bags amongst pimps and prostitutes and drug dealers homeless, going into department stores Walmart in the morning to bathe herself so that she wouldn’t smell in front of her classmates and today she graduates as a member of the Harvard class of 2013 from time to time you may stumble fall.
You will for sure count on this. No doubt you will have questions and you will have doubts about your path, but I know this: if you’re willing to listen to be guided by that still small voice, that is the GPS within yourself to find out what makes you come alive.
You will be more than okay, you will be happy, you will be successful and you will make a difference in the world. Congratulations! Class of 2013! Congratulations to your family and friends. Good luck and thank you for listening is that.
California, during my California Springs and summers I spent most of my days in the High Sierras in Yosemite Valley, working as a river guide and a rock climbing instructor, I loved did those jobs, but unfortunately they didn’t pay that well.
So I also got a job working a couple of days a week as a computer programmer back in Berkeley. I had learned a program in college. I didn’t, love programming, but was fun and I was good at it, and computer programming gave me the same kind of satisfaction, the solving math problems and playing chess.
Both things I enjoyed before I became a confused teenager [, Music ]. At this point in my life I thought I was making real progress on my journey of self-discovery. I had found a cause. I had a couple of jobs that I loved and one that was fun and paid the bills.
I was pretty happy with my life. My wife was not what she saw was a college dropout who spent too much time in the mountains doing foolish things. She wanted me to work full-time as a computer programmer or go back to college and finish my degree.
I started taking classes at UC Berkeley. I took several classes, but the only one I can remember was a sailing class taught at Berkeley marina. Once again, I fell in love and began a lifelong affair with the limitless omnipotent Pacific Ocean.
When my class was over. I wanted to buy a sailboat. My wife said this was the single stupidest idea she had ever heard in her entire life. She accused me of being irresponsible and she told me I lacked ambition.
She kicked me out and then she divorced me. This is a pivotal moment in my life, but this time I was not disappointed in myself. Their dreams and my dreams were different. I would never confuse the two of them again.
I searched and I searched, but I just could not find a software engineering job that I loved as much as I loved sailing. So I tried to create one. I put together a plan to start my own company. That way I could completely control my work environment.
My goal was to create the perfect job for me, a job I truly loved hired the most talented software engineers in Silicon Valley. We assembled an all-star team of gifted programmers who were among the best in the world at what they did, that team, plus one crazy idea, gave birth to a giant company.
I call it a crazy idea because at the time everyone told me it was a crazy idea and when you start telling people, but all the experts are wrong at first, they call you arrogant and then they say you’re crazy.
When people start telling you that you’re crazy, you just might be on to the most important innovation in your life. The idea was to build the world’s first relational database and IBM was building a prototype in their research labs, but back then the collective wisdom of computer experts, while relational databases could be built, they would never be fast enough to be useful.
This is one of those times when the experts were wrong. Arrogance and insanity turned out to be innovation in disguise, as the Information Age moved from dawn to the full light of day. Technology horizons were constantly shifting, revealing a brave and exciting world of new possibilities and new opportunities Oracle doubled in size year after year after year.
For 10 years I had set out to create the perfect programming job from me. Instead, I created a job where I had to stop programming altogether, I attempted to create an environment that I could completely control.
Instead, I was running a company with thousands and thousands of people that was growing so fast that it was impossible for anyone control in a constantly changing world. What is possible is a moving target.
Don’t, be afraid to experiment and try lots of different things and don’t. Let the experts discourage you when you challenge the status quo. Each of you has a chance to discover who you are rather than who you should be a chance to live your dreams, not the dreams of others.
Each of you has an obligation to commit to a righteous cause, one that elevates you and improves the conditions of humanity and the planet until you find a job that ignites your passions like, I did even better.
You just might find one that you love [, Music, ], you
You’re beating everybody and you came from such humble beginnings – grew up on the south side of Chicago dropped out of college. Now you have collections of cars. Jets private homes owning the island of Lanai tell me how you did it well.
I think I think my favorite line is. I had all the disadvantages necessary for success. You know uh when you’re raised on the south side of Chicago. You probably want to move someplace nicer and I think if it doesn’t kill you and makes you stronger.
So I’ve, always been very ambitious. I’ve, always been very curious. I you know moved to Silicon Valley right out of right after I dropped out of college and got a job as a computer programmer. I learned how to program when I was in college, and I got a job as a computer programmer and bummed around Yosemite Valley, teaching, rock climbing and and and leading River River river trips during my early 20s.
But the way I supported myself was as a computer programmer, and I got involved with more and more interesting and complicated computer projects and decided to start my own company and then it grew and grew and grew yeah.
You have you’re competitive yeah. You know my original goal only started Oracle was to build a company of 50 people, people I enjoyed going to work with every day and people that I respected and enjoyed working with every day.
It got to be a little bigger than that. We have a hundred and fifty thousand people inside the company now and you ‘ Ve got four hundred forty thousand customers 145 countries. Where do you go from here? Well, we want to make sure we beat Amazon in cloud database very simple: it’s, just like playing basketball.
If you know, if you’re playing basketball, you want to beat the Warriors you want to be. You know you want to win the championship, be honest, so our job we have the best database in the world. We’ve got to deliver it in the context of a cloud that’s as easy to use as Amazon but secure, and that’s.
The key thing Amazon has great ease of use. We’ve got to marry that to security and all the capabilities to the autonomous database, and we’ll, be great. We just watched the trailer of the Iron Man, 2 movie, featuring the Oracle of Oracle, Larry Ellison and it’s, not very often that you see a database company on the big screen, Tony Stark.
I did you influenced that character. I’ve. I’ve heard I’ve heard that III know Stanley very well. I love Stanley. Stanley is a genius. I mean the father of Marvel and all these all these wonderful characters.
I didn’t, know Stanley as a kid growing up, so I guess I guess the Tony Stark was invented before Stan knew me. So I guess not, but you have a fondness and you love movies, and I know that you ‘
Ve been taking a bigger role at your daughter’s. Production company tell us about that. Annapurna pictures assess that industry for us, because here you have rupert murdoch selling his entertainment assets.
At a premium you’ve got netflix, paying upwards of 13 billion dollars for original content. Here we are back at content. Is king again know what content is king and my daughter’s made some brilliant movies.
I mean i was very proud of her when it was zero, dark, thirty. Well, she had both republicans and democrats. You know calling her to congress to investigate that movie at that movie about how we really found Osama bin Laden.
So when Republicans are against, you and Democrats are against you and they both want to investigate you. You must be doing something right. She should they did. They did actually after the economy, where she didn’t get Best Picture she had.
You know she had won Best Picture in Venice and then won Best Picture and can, but she didn’t, get best conviction in the Academy Awards, because so, therefore, the Senate felt that it wasn’t necessary for her to testify anymore.
You you seem very proud, obviously, as but when you look at a company like Netflix, for example, I mean Disney’s coming out with their streaming service. Apples coming out with its streaming service, I mean there’s, a lot of buzz around Netflix right now, but these two big shots Disney and Apple – are going to come out with streaming services at a cheaper cost.
How would you assess the industry? Well, I think Netflix has done amazing yeah. It did an amazing job. They pioneered that industry and they’re gonna have a lot of competitors. Google’s, doing some phenomenal things in terms of technology for streaming and games and game streaming.
I think you’ll, see a bunch of people in that industry, but in the end, great characters and great content win so Disney. Free John Lasseter wasn’t as good as Disney Post done, John Lasseter, so and when Disney bought Pixar and they had better storytellers at Disney, they made better movies.
So it gets down to individual artists and individuals storytellers and it’s. Big and powerful and wonderfully run, as does he a Disney, is, and obviously they’re, one of the no two three top brands on the planet Earth it’s still going to be individuals like John Lasseter and James Cameron, who make Great pictures artists make pictures that’s.
Why that’s? A must get interview, DATABASE. & gt & gt. Can YOU TAKE ME BACK AND TELL ME HOW YOU & # 39? Ve DONE THIS LARRY, YOU’RE, THE GODFATHER OF TECHNOLOGY.. You FOUNDED THIS COMPANY. You’RE STILL THRIVING.
. You’RE STILL COMING OUT WITH ALL THESE INNOVATION THINGS.. I CAN SEE HOW PASSIONATE YOU ARE., YOU’RE. Beating EVERY. YOU CAME FROM SUCH HUMBLE BEGINNINGS, GREW UP ON THE SOUTH SIDE OF CHICAGO DROPPED OUT OF COLLEGE.
. Now YOU HAVE COLLECTIONS OF CARS, JETS, PRIVATE HOMES, OWNING THE ISLAND OF LENAI.. Tell ME HOW YOU DID IT. & gt & gt. I THINK MY FAVORITE LINE IS: I HAD ALL THE DISADVANTAGES NECESSARY FOR SUCCESS..
When YOU’RE RAISED ON THE SOUTH SIDE OF CHICAGO. You PROBABLY WANT TO MOVE SOME PLACE NICER. AND I THINK IF IT DOESN’T KILL YOU. It MAKES YOU STRONGER., SO I’VE, ALWAYS BEEN VERY AMBITIOUS.. I’VE, ALWAYS BEEN VERY CURIOUS.
. I MOVED TO SILICON VALLEY RIGHT AFTER I DROPPED OUT OF COLLEGE GOT A JOB AS A COMPUTER PROGRAMMER.. I LEARNED HOW TO PROGRAM WHEN I WAS IN COLLEGE, AND I GOT A JOB AS A COMPUTER PROGRAMMER AND BUMMED AROUND YOSEMITE VALLEY, TEACHING, ROCK CLIMBING AND LEADING RIVER TRIPS DURING MY EARLY 20s.
. But THE WAY I SUPPORTED MYSELF WAS AS A COMPUTER PROGRAMMER, AND I GOT INVOLVED WITH MORE AND MORE INTERESTING AND COMPLICATED COMPUTER PROJECTS AND DECIDED TO START MY OWN COMPANY. & gt & gt AND THEN IT GREW AND GREW AND GREW.
YOU’RE. Competitive. & gt & gt MY ORIGINAL GOAL WHEN WE STARTED ORACLE, WAS TO BUILD A COMPANY OF 50 PEOPLE, PEOPLE I ENJOYED GOING TO WORK WITH EVERY DAY AND PEOPLE THAT I RESPECTED AND ENJOYED WORKING WITH EVERY DAY.
. It GOT TO BE A LITTLE BILLER BIG. It GOT TO BE A LITTLE BILLER BIE. It GOT TO BE A LITTLE BILLER BIR THAN THAT.. We HAVE 150,000 PEOPLE INSIDE THE COMPANY, NOW. & gt & gt. You’VE GOT 440,000 CUSTOMERS 145 COUNTRIES.
. Where DO YOU GO FROM HERE & gt & gt? Well, WE WANT TO MAKE SURE WE BEAT AMAZON IN CLOUD DATABASE. & gt & gt, [ LAUGHTER, ], FUNNY TO HEAR YOU SAY: THAT., THAT’S. It. & gt & gt. That’S, THE GOAL VERY SIMPLE.
, JUST LIKE PLAYING BASKETBALL.. If YOU’RE PLAYING BASKETBALL, YOU WANT TO BEAT THE WARRIORS.. You WANT TO WIN THE CHAMPIONSHIP., SO OUR JOB –. We HAVE THE BEST DATABASE IN THE WORLD.. We’VE GOT TO DELIVER IT IN THE CONTEXT OF A CLOUD THAT’S AS EASY TO USE AS AMAZON BUT SECURE.
, AND THAT’S. The KEY THING. AMAZON HAS GREAT EASE OF USE.. We HAVE SECURITY AND ALL THE CAPABILITIES TO BE AN AUTONOMOUS DATABASE AND WE’LL, BE GREAT. & gt & gt. Oracle IS ORACLE. What, WITH A PLEASURE NICE TO SEE YOU.
& gt & gt, WE JUST WATCHED THE TRAILER OF THE IRON MAN, 2 MOVIE FEATURING THE ORACLE OF ORACLE, LARRY ELLISON. IT’S, NOT VERY OFTEN THAT YOU SEE A DATABASE COMPANY ON THE BIG SCREEN., TONY Stark DID YOU INFLUENCE THAT CHARACTER & gt & gt? I’VE HEARD THAT.
. I KNOW STAN LEE VERY WELL.. I LOVE STAN LEE. STAN LEE IS A GENIUS.. I MEAN THE FATHER OF MARVEL AND ALL THESE WONDERFUL CHARACTERS. I DIDN’T, KNOW STANLEY AS A KID GROWING UP, SO I GUESS TONY STARK WAS INVENTED BEFORE STANLEY KNEW ME, SO I GUESS NOT.
& gt & gt. You HAVE A FONDNESS AND YOU LOVE MOVIES, AND I KNOW THAT YOU’VE, BEEN TAKING A BIGGER ROLE AT YOUR DAUGHTER’S. Production COMPANY.. Tell US ABOUT THAT. ASSESS THAT INDUSTRY FOR US.. Here YOU HAVE RUPERT MURDOCH SELLING HIS ENTERTAINMENT ASSETS AT A PREMIUM.
. We ARE BACK AT CONTENT. Is KING AGAIN. & gt & gt CONTENT IS KING.. My DAUGHTER’S MADE SOME BRILLIANT MOVIES.. I WAS PROUD OF HER WHEN IT WAS ZERO. Dark THIRTY, WHERE SHE HAD REPUBLICANS AND DEMOCRATS CALLING HER TO CONGRESS TO INVESTIGATE THAT MOVIE ABOUT HOW WE REALLY FOUND OSAMA BIN LADEN.
. When DEMOCRATS AND REPUBLICANS ARE AGAINST YOU – AND THEY WANT TO INVESTIGATE YOU, YOU MUST BE DOING SOMETHING RIGHT.. She DIDN’T, GET BEST PICTURE.. She HAD WON BEST PICTURE IN VENICE AND WON BEST PICTURE IN CANS.
Cannes, BUT DIDN’T, GET BEST PICTURE IN THE ACADEMY AWARDS. THE SENATE FELT. Then IT WASN’T NECESSARY FOR HER TO TESTIFY ANYMORE. & gt & gt. You SEEM VERY PROUD. & gt & gt. I AM. & gt & gt WHEN YOU LOOK AT A COMPANY LIKE NETFLIX, FOR EXAMPLE, DISNEY’S COMING OUT WITH THEIR STREAMING SERVICE APPLE IS COMING OUT WITH ITS STREAMING SERVICE.
There’S, A LOT OF BUZZ AROUND NETFLIX RIGHT, NOW., DISNEY AND APPLE WILL COME OUT WITH STREAMING SERVICES AT A CHEAPER COST.. How WOULD YOU ASSESS THE INDUSTRY & gt & gt? Netflix HAS DONE –, IT DID AN AMAZING JOB.
. They PIONEERED THE INDUSTRY.. They’RE, GOING TO HAVE A LOT OF COMPETITORS.. Google IS DOING PHENOMENAL THINGS IN TERMS OF TECHNOLOGY FOR STREAMING AND GAME STREAMING.. I THINK YOU’LL, SEE A BUNCH OF PEOPLE IN THAT INDUSTRY, BUT IN THE END, GREAT CHARACTERS AND GREAT CONTENT WIN.
, SO DISNEY PRE-JOHN, LASSITER WASN’T AS GOOD AS DISNEY POST-JOHN LASSITER. WHEN DISNEY BOUGHT PIXAR AND THEY HAD BETTER STORY-TELLERS. At DISNEY THEY MADE BETTER MOVIES., SO IT GETS DOWN TO INDIVIDUAL ARTISTS AND INDIVIDUAL STORY TELLERS AND AS BIG AND POWERFUL AND WONDERFULLY RUN AS DISNEY IS THEY’RE ONE OF THE TWO THREE TOP BRANDS ON THE PLANET EARTH IT’S? Still GOING TO BE INDIVIDUALS LIKE JOHN LASSITER
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, ]
If you cannot stop it, improve it. Forget about the competition today. It's like a 10,000 meters running. For the first 200 meters, don't think that guy is the competitor; keep on running. 3000 meters later, you will know is a competitor.
He's got that quality that I think unites so many people who are ultimately successful. He is relentless. The internet is opportunity for small business. He's sort of like the pied piper of the Internet in China.
Don't miss this chance. First he attracted employees. How are you doing? How are you? And then he attracted millions of businesses to build their business on the platforms. 40 countries this year.
A hundred and seventy hours. Forty… like forty six. We know that we have to be humble, we have to serve our customers. Jack Ma has done a phenomenal job to create a business that is second to none in the world.
He is the largest retailer. Investors may not like us; if customers like us, we have the future. I heard they call him crazy Jack Ma. I think it takes a little bit of craziness or madness to achieve anything.
I was born in a very normal family and poor family. Six people share $7 a month. We can only eat to one chicken a year. Was terrible. Nixon visited my city. 1972, China USA sign the- Mao Zedong and Nixon signed the agreement.
So China become open door. My city Hangzhou was one of the first cities that opened to the west. We got a lot of American tourists to visit my city. What he would do is he would befriend foreign visitors who came to Hangzhou to walk around the West Lake there.
And I learned English by being a free guide for tour guide. No more than the language, Jack was learning about the culture. The things I learned from books from China are so different from the things I learn from the American visitors.
So I started to think differently. You know in China, for so many decades, the kind of personal ambition that he exemplifies was suppressed. When Deng Xiaping came along and sort of took the top off of things and said, "It's OK to have your private ambition to make something of yourself, it won't get you in political trouble," this was a kind of an invitation from people like Jack Ma.
His goal was always to create something that would change China. When I tried to be a Policeman – reject. When I tried to be a KFC person – reject. I want to be a hotel waiter – rejected. So I get used to it.
As entrepreneur, one of the qualities I have is that when I'm rejected by people, I get used to that. The road to wherever we all end up is not always perfect. It's paved with lots of difficulty and challenge and failure and you have to summon up some sort of strength within you to believe in yourself.
Jack Ma grew up in relatively modest means and then he became a teacher. And by all accounts that's sort of where he expected to be for quite some time. Then I came to America in 1995. First a trip to the States.
And first time in my life I touched to keep all the computers. And he started searching things on the Internet. When he searched China, nothing came up in the search results. So he said to himself, "If I can put Chinese companies on the Internet and allow them to connect with business people in the U.
S. and other countries, I could create possibly a really powerful business." I called myself at that time like a blind man riding on the back of blind tigers. Without knowing anything about technology or computers, we started our the first company.
He's gone against all convention. He says that he doesn't know anything about technology. It's hard to believe. When he started his first company, called China pages, he would go knocking on the doors of government officials.
They would really just turn him away saying that what he was doing wasn't appropriate. He should just go back to maybe teaching English. This was opening day for something called Windows 95 that has something to do with computers.
With Deng now gone, China's future will be shaped by a great power struggle. Well, 1997 proved to be a watershed year for Asia, the year when the Asian economic miracle became a thing of the past.
There seems to be no stopping the speeding tech train; technology stocks keep climbing into record territory. 2000 and when the internet was starting to boom in China, a friend told me that there was a company trying to go global from an apartment in Hangzhou.
Eighteen years ago, in my apartment, I told the 18 founders that one day we would build up a site. This site would be the top 10 sites of the world. Very few people believed that we would make it happen.
Jack's greatest strength is bringing together ordinary people to do these incredible things that they never thought was possible. Most of my colleagues and 18 founders they were my students, my friends.
None of them were very successful. Among the 18 people, there were only three people who know something about computers. Being first in China was a key. You've got to remember there was not great infrastructure for even the telephone.
When Alibhai we got started and when I joined the company, trying to sell businesses in China the Internet was like trying to sell magic beans to someone. I mean they couldn't see it, they couldn't touch it, and here was this guy – this kind of interesting looking English teacher – coming door to door to try and tell people they should spend their money, several thousands of dollars, to put their company on this thing called the Internet.
What it really was was a opportunity for corporations really in other parts of the world to try to source manufacturing in China via the web. In the past eighteen years when I do Internet in China, we got a criticism every day.
You know something where you believe it, a lot of people criticize it. But if you really believe, continue to do it. Improve it. We were rejected by more than 30 venture capitalists but we are very optimistic.
We believe in the future. We believe in Internet. And we believe that if we do not succeed, somebody will. The big investment came when Masayoshi Son of Softbank met with Jack. And the story is that Masayoshi Son was in Beijing meeting with a number of Internet entrepreneurs who presented very detailed business plans, but Jack got Jack Ma got up with no presentation and just a story – a vision of what he wanted to do, what he wanted to Alibaba to become – and the Masayoshi Son got so excited about it that he pledged to invest as much as 40 million dollars in the company.
And Jack turned it down and said you know what, we only need 20 million at this time. Masa obviously gave capital to Jack Ma that he desperately needed. And also made the single greatest investment one can argue, ever.
Period. Jack Ma's played a very key role in sort of the development of the Internet in China but not as we originally imagined the Internet would develop. He has used it as a vector for commerce. So it started with some roadshows with just maybe 100 people, then 200, then thousands and more – thousands more – where finally Jack turned this into a mass movement across China where he educated small businesses about why they needed to use the Internet.
And he really created a revolution by educating his customers one person at a time. This is such a big monster. It is something that never happened in the history before. So we think we are changing China.
We're helping China to the second level. He understood what technology could do for the Chinese people in terms of affording them access to the worlds of product. And he's done it. Alibaba went from this sort of optimistic expansion phase to to this somewhat depressing phase of cutting back and I think for just a moment in time he even wondered if the company would survive.
The ecosystem of Africa, the lives is not designed by lion, tiger and elephants. Life is designed by the minor insects. For us, consumers, small business are the key. If we can serve these consumers and small businesses well, big companies will get involved.
They will start to see it coming. So if you keep good sides of shrimps, all the sharks will come. Big fish will come. When we started Alibaba B2B, we are helping small business selling things across the board.
So we think: "Which country has the best technologies on the Internet?" We say USA. So we decided to build up a huge office in San Francisco. But what happened was it created a disaster inside the company.
We had a division where half the team was in the US, half the team was in China and there was a lot of friction between the management. So we did know something wrong we say we have to shut down the office.
And it was at a time in 2000 when the Internet bust had hit us really hard and we were laying off staff around the world. A lot of analysts think the Internet bubble is ready to burst and by this time next year a huge number of those dot coms might be dot gone.
And Alibaba went from this sort of optimistic expansion phase to this somewhat depressing phase of cutting back. That was the only time I ever saw him doubt himself is when he was laying off people and I think for just a moment in time he even wondered if the company would survive.
And from that moment on he realized that being a CEO is different from being an English teacher. Being a CEO means making the tough decisions and sometimes cutting back in order to allow the company to survive.
So from that moment on, I never saw Jack doubt himself again. I watched a wonderful movie called Forrest Gump. I was touched. He said: "Life's like a box of chocolates, you know what you get.
He really does love Forrest Gump. But if you keep on getting, you will get a good chocolate. He just sees it, in some way, as a corollary for the American dream and all the things you can potentially do in life.
And I find that Forrest Gump made a fortune by catch shrimps not catch whales. So helping small business will make me like a Forrest Gump. Forrest Gump just to keep on running. Be simple, serve the people.
He can try to compare himself to Forrest Gump, he can't ever be Forrest Gump; he is right out there, right in front, doing everything that he thinks will be in a pioneering spirit. He is a pioneer much more than Forrest Gump was.
He has always had the courage to live with his decisions and to move on and to reinvent and I think that is the very definition today of bravery. In the early days, a lot of people were trying to tell him to change the way he talked, to change the way he acted – it wasn't CEO-like enough.
We should not, you know, throw out the baby because the baby is crying too much. And I watched him that just by being himself and being authentic and speaking with his own voice was something that people found refreshing and it was something that was easy for us to get behind.
President Bush is continuing his Asian tour. The death toll has risen and the mystery pneumonia like illness gripping much of Asia. China made history this morning, launching its first astronaut into orbit.
I first learned about Taobao when it was still just a secret project. The ALibaba that we all know today began as Taobao which is the marketplace by which people in China could sell things to other people.
Jack Ma, he pulled some of the key employees from all Alibaba into his office and he said: "Listen, you're going to have to go back to the original Alibaba apartment. You're going to have to work in seclusion.
You can't tell your friends, you can't tell your family. You can't even tell the other Alibaba employees about this." So when we see something is coming, you have to prepare now. He realized that eBay, sooner or later as it grew in China, would start coming after Alibaba's customers.
Very interested in China right now, it could be one of our biggest markets. My belief is you have to repair the roof while it is still sunshine. Above started free and I think by announcing we're going to be free for three years put a lot of pressure on eBay.
Point blank he said, they're not going to succeed; I'm going to get them. And eBay's reaction put out a press release saying 'free is not a business model' but in fact we knew that because we were getting so many people on tp Taobao because we were free in the early days, ultimately we could make money.
I always believe one thing. You lose only when you give up. And in the end, as a surprise to eBay, Jack decided to do a deal with Yahoo. Yahoo agreed to purchase Alibaba's shares for $1 billion in cash which not only makes Yahoo the largest strategic investor in Alibaba but also helps it grow its brand in China.
Jack's motivation for partnering with Yahoo was really, we can add that to the rest of our businesses and become a sort of an eBay plus a Google plus Yahoo all combined together. One of the reasons many many multinational companies that go to China.
They want to compete with local companies instead of making customerse happy. Jack Ma did a sort of a minor miracle in beating eBay. Another story out on eBay today it's down 0.2 percent, eBay talking about cutting off, at some point in time in the future, it's Chinese it's Chinese website.
eBay couldn't win there. They just don't know what the hell they were doing. When I'm going to succeed at something, I feel excited; I feel honored. Wow, why I have the chance. We saw that there is a huge opportunity in China because in China the banking is so inefficient we realized if we could create a payment system, it could grow to much more than a payment system – it could become a financial institution.
And this opened of course a huge door because it enabled him to- there was no way to pay for things online. People didn't yet have credit cards so with AliPay you added a very important room on his house.
And that was the room of how do we get payments made. Being creative in business is a whole other kind of creativity but creativity nonetheless. To be able envision different business models, to be able to envision how life can change.
This was a true revolution in China both in consumerism and in the Chinese economy. This is huge. The number of products on fun Alibaba is gigantic. I don't know the number but it's phenomenal.
I don't think I could ever appreciate the pressures that Jack Ma is under to be a hard-charging entrepreneur at the same time as he's a part of a communist system in some way. That takes people away.
Leaders of businesses can disappear. I believe the three things should not touch. Power, money, the glory. If you keep the power in your office, you're in trouble. If you keep the money in your own pocket you will be trouble.
If you put the glory on your head, you'll be in trouble. So when you have the money, spend the money supporting more people. When you have power, empower in the others. With the glory, let the others have that hat.
Joe it's quite a mob here. There are more than 130 press organizations waiting here to see Jack Ma. You felt like it was The Oscars. I was oohing and ahing because you have to admire that kind of thing.
The IPO of Alibaba was the single largest and biggest day that I can remember. It didn't disappoint. It went up enormously at the time. This is the beginning of Alibaba. It gave it a market value larger than that of Wal-Mart on day one.
Ma himself has become China's richest man just by the founding of Alibaba. Today he is expected to be worth north of twenty two billion dollars. This was a very big deal for China not just for Alibaba.
Today what we've got is not the money. What we've got is the trust from the people. You go to the headquarters, it's very interesting. It's all young people. I didn't see- I don't think I saw anybody in the headquarters over 30.
When we hire a lot of people, I never see their diploma, I just see whether they are optimistic, whether they want to learn new things, if they want to change things, if they want to work in teamwork.
Those people were below 30-years-old. They are the internet generation. They are the generation going to change the future. We think data is going to be so important to human life in the future. So now we just that we are the first to runner.
Compared to tomorrow, our data is nothing. Jack Ma day-to-day is not running Alibaba. He is the visionary, he is the strategic thinker about the big picture. Next 30 years, the technology is going to challenge a lot of job opportunities.
People are already unhappy because a lot of machine learning, artificial intelligence, is killing a lot of the job. People start to worry. So I think the good thing is that technology is improving people's lives.
Jack Ma is someone who always dreams big. I mean really big. A lot of us have dreams but Jack's dreams almost seem unrealistic, they're so big. Machine is good knowledge but human beings are good at wisdom.
You have to stay relevant but at the same time you also have to be a risk taker and have to shake things up a little bit. Well Alibaba what to do next 10-30 years is to enable the innovation of traditional business, transform the world, transform all the traditional retailer, manufacturer, financial sectors.
He's created one of the largest financial services companies in the country on the back of, in a sense, Alibaba. We are enabling small businesses and young people to be able to reach financial support.
They're the first private company to become bank-approved by the Chinese government. I think it's monstrous. I think it's very important but I would think that it's also probably nerve wracking.
It's great to be Goliath if you're in a open society and a free economy. It can be very problematic to be a Goliath when the other Goliath is the Chinese Communist Party. I don't think I could ever appreciate the pressures that Jack was under to be a hard-charging entrepreneur at the same time as he's part of a communist system, in some way, that takes people away, leaders of businesses, and disappears them.
It takes a lot of- a lot of fancy footwork to keep on the right side of that. So sometimes when I look at these business people doing things, I say: "Wow. I'm not I don't do things like that.
" He realized that although the Chinese government didn't like the Internet for political content or for the ability for people to criticize the government, what they did like about the Internet was that it could help create jobs and help grow the economy.
Every day more than 200 million people are shopping through a mobile phone on our site. You're seeing people in the middle of China with their smartphone pressed a few buttons and they can buy lobster from Maine or cherries from Washington.
I would argue the growth of the mobile phone was probably the single most important thing that has helped Alibaba become a giant it is. We have more than 10-20 million small businesses using our platform and 60 percent of them, this business never exist before Alibaba.
And he is so enthusiastic about what he's doing and what he's doing is pretty simple. It takes a genius to think of the simple. One of the secret sauce for Alibaba is that we have more than 48 per cent of the people in the company – they are women.
He's supporting women in an era where, you know there's still residue of disrespect for women. And I think for him to be able to bring that to China is extraordinary. I do everything to make sure that I'm- my customer happy, employee happy, the society is good.
It's healthy. Social responsibility is the key. For somebody who is sort of preposterously unlikely to have become what he's become, he's more or less stayed who is. He is someone who wants to do good not only in business but in the world.
He has the power to inspire other people. He has the ability to understand what he doesn't understand, but knows that he can find people who can and will for him. I think he saw the possibilities of a new way of not only doing business, but of life.
He's focused on these bigger issues and where are the company's going in the broad sort of arc of history. If you were to ask Jack Ma what's his greatest accomplishment, it would not be, you know, becoming the richest man in China or building a company worth hundreds of billions of dollars.
I think he might measure his own success by the impact that he's created on China rather than impact he's created on just himself and his own team. It's always scary looking far away. Oh my God, that's a difficult place.
Go there. Test. Jump into it. You never learn to swim until you're in the water. [Music] when you do business don't worry about competition there's nowhere in this world there's no competition you have to get used to it you cannot stop globalization the world is getting so small if you cannot stop it improve it out the competition today it's like a 10,000 meters of running for the first 200 meters don't think that guy is the competitor keep on running 3,000 meters later you were know who's the competitor [Music] he's got that quality that I think unites so many people who were ultimately successful he things about Internet is the opportunity for small business he's sort of like a Pied Piper of the Internet in China y'all missed this chance first he attracted employees and then he attracted millions of businesses to build their business on the platform 40 countries 14:46 research we know that we have to be humble we have to serve all of the customers Jack Ma has done a phenomenal job to create a business that is second to none in the world he is the largest retailer so investors may not like us if the customers like us we have the futures I heard the call is phase II Jack Ma I think it takes a little bit of craziness on this to achieve anything I was born a very normal family and poor family six people share $7 mouth we can only eat one chicken a year what's terrible Nixon visit to my city 1972 China USA signed Mao Zedong Nixon Sunday Agreement so China become opened oh my city honza was one of the first the cities that opened to the west we got a lot of American tourists to visit my city what he would do is he would befriend foreign visitors who came to Hangzhou to walk around the west lake there and I learned English by being the free guide for tour guide you know more than the language Jack was learning about the culture the things I learned from books from China are so different from the things I learned from the American visitors so I start to think different to me you know in China for so many decades the kind of personal ambition that he exemplifies was suppressed that when done Chao ping came along it sort of took the top off of things and said it's okay to have your private ambition to make something of yourself it won't get you in political trouble this was a kind of an invitation from people like Jack Ma his goal was always to create something that would change China when I would try to be a policeman rejected I tried to be a KFC person reject it I want to be a hotel waiter reject it so I get used to it that's entrepreneur one of the quality I have is that when I'm rejected by people I get used to that the road to wherever we all end up is not always perfect it's paved with lots of difficulty and challenge and failure and you have to summon up some sort of strength within you to believe in yourself Jack Ma grew up in relatively modest means and then he became a teacher and by all accounts that's sort of where he expected to be for quite some time then I came to America 1995 first a trip to the States and first time in my life I touched the keyboard computers and he started searching things on the internet when he searched China nothing came up in the search results so he said to himself if I can put Chinese companies on the internet and allow them to connect with business people in the US and other countries I could create possibly a really powerful business I call myself at that time called I guess a blind man riding on the back of blind Tigers without knowing anything about technology computer we study first company he's going against all Convention he says that he doesn't know anything about technology it's hard to believe when he started his first company called China pages he would go knocking on the doors of government officials it would really just turn him away saying that what he was doing wasn't appropriate and he should just go back to maybe teaching English this was opening day for something called Windows 95 it has something to do with computers with done now gone China's future will be shaped by a great power struggle 1997 proved to be a watershed year for Asia the year when the Asian economic miracle became a thing of the past there seems to be no stopping the speeding tech train technology stocks keep climbing into record territory mm when the internet was starting to boom in China a friend told me that there's a company trying to go global from an apartment in Hangzhou 18 years ago in my apartment I told the 18 founders that one day we were Bute of a site this site would be the top 10 size of the world very few people believe that we will make it happen Jack's greatest strength is bringing together ordinary people to do these incredible things that they never thought was possible most of my colleagues and 18 fighters there were my students my friends there none of them are very successful amount of 18 people there are only three people who know something about computer being first in China was a key you've got to remember there was not a great infrastructure for even the telephone when Alibaba got started and when I joined the company trying to sell businesses in China the internet was like trying to sell magic beans to someone I mean they couldn't see it they couldn't touch it and here was this guy this kind of interesting looking English teacher coming door-to-door to try and tell people they should spend their money several thousands of dollars to put their company on this thing called the Internet what it really was was a opportunity for corporations really in other parts of the world to try to source manufacturing in China via the web in the past 18 years when I do internet in China we got a criticism every day you know something will you believe it a lot of people criticize it but if you really believe continued to do it improve it we were rejected by more than 30 venture capitalists but we are very optimistic we believe in the future we believe in Internet and we believe that if we do not succeed somebody will the big investment came when Masayoshi Son of Softbank met with Jack and the story is that Massey OSHA's son was in Beijing meeting with a number of Internet entrepreneurs who presented very detailed business plans but Jack got Jack Ma got up with no presentation and just a story a vision of what he wanted to do what he wanted olive bhava to become and the Masayoshi son got so excited about it that he pledged to invest as much as forty million dollars in the company and Jack Ma turned it down and said you know what we only need 20 million at this time masa obviously gave capital to Jack Ma that he desperately needed and also made the single greatest investment one could argue ever period Jack Ma has played a very key role in sort of the development of the Internet in China but not as we originally imagined the internet would develop he has used it as a vector for commerce so it started with some road shows with just maybe a hundred people and 200 then thousands and more thousands more where finally Jack turned this into a mass movement across China where he educated small businesses about why they needed to use the Internet and he really created a revolution by educating these customers one person at a time this is such a big monster it is something that never happened in the history before so we think we are changing China we're helping China to the second level he understood what technology could do for the Chinese people in terms of affording them access to the worlds of product and he's done it Alibaba went from this sort of optimistic expansion phase to this somewhat depressing phase of cutting back but I think for just a moment in time even wondered if the company would survive [Applause] [Music] [Applause] the ecosystem of Africa the lives is not decided by a lion tiger and elephants live a designer to buy the minor thing sex for US consumers small business are the key if we can serve these consumers and small business well big companies will get involved they will start to lean on coming so if you keep good sides of shrimps all the Sharks will come big fish or come well we started Lee Bob a b2b we want we are helping small business to selling things cross the board so we think of her the where which country has the best technology on the internet we say USA so we decided to build up a huge office in San Francisco but what happened was it it created the disaster inside the company we had a division where half the team was in the u.
s. half the team was in China and there was a lot of friction between the management so we know something wrong we say we have to shut down the office and it was at a time in 2000 when the internet Boston hit us really hard and we were laying off staff around the world a lot of analysts think the internet bubble is ready to burst and by this time next year a huge number of those comms might be dot gone and Alibaba went from this sort of optimistic expansion phase to this somewhat depressing phase of cutting back but that was the only time I ever saw him doubt himself is when he was laying off people and I think for just a moment in time he even wondered if the company would survive and from that moment on he realized that being a CEO is different from any being an English teacher being a CEO means making the tough decisions and sometimes cutting back in order to allow the company to survive so from that moment on and there Jack doubt himself again I watched a wonderful movie called Forrest Gump I was touched he said likes lives like a box of chocolate you never know what you can get you really does love Forrest Gump if you keep on getting you will get away good chocolate it just sees it in some way as a corollary for the American Dream and all the things you can potentially do in life and I find the forest God made a fortune by catching shrimps not catching wills so helping small business will make me like a Forrest Gump Forrest Gump just to keep on running be simple serve the people you can try to compare himself to Forrest Gump II can't ever be Forrest Gump he is right out there right in front doing everything that he thinks will be in a pioneering spirit he is a pioneer much more than Forrest Gump was he has always had the courage to live with his decisions and to move on and to reinvent and I think that is a very definition today a bravery in the early days a lot of people were trying to tell him to change the way he talked and changed the way he acted it wasn't CEO like enough we should not the you know throughout of the baby because the babies cried too much and I watched him that just by being himself and being authentic and speaking with his own voice was something people found refreshing and it was something that was easy for us to to get behind President Bush is continuing his agent or the death toll has risen in the mystery pneumonia like illness gripping much of Asia China made history this morning launching its first astronaut in I first learned about Taobao when it was still just a secret project the Alibaba that we all know today was began as Taobao which is the marketplace by which people in China could sell things to other people Jack Ma he pulled some of the key employees from Alibaba into his office and he said listen they're gonna have to go back to the original Alibaba apartment you're gonna have to work in seclusion you can't tell your friends you can't tell your family you can't even tell the other Alibaba employees about this so when we see something is coming you have to prepare now he realized that eBay sooner or later as it grew in China would start coming after Olli Baba's customers very interested in China right now it could be one of our biggest markets my believes that you have to repair the roof why it is to sunshine talbo started freeze and I think by announcing we're gonna be free for three years put a lot of pressure on eBay point-blank he said they're not gonna succeed I'm going to get them an e base reaction was to put out a press release saying free is not a business model but in fact we knew that because we are getting so many people on to Taobao because we were free in the early days ultimately we could make money I always believe one thing you lose only way you give up and in the end as a sort of surprise to ebay Jack decided to do a deal with Yahoo Yahoo agreed to purchase Alibaba shares for 1 billion dollars in cash which not only makes Yahoo the largest strategic investor in Alibaba but also helps it grow it grow its brand in China Jack's motivation for partnering with Yahoo was really we can add that to the rest of our businesses and become a sort of an eBay plus a Google plus a Yahoo all combined together one of the reasons many many multinational companies they go to China they want to compete who's local instead of making custom happening you Jack Ma did a sort of a minor miracle in beating eBay another story out on eBay today it's down 0.
2 percent eBay talking about cutting off at some point in time in the future its Chinese its Chinese website eBay couldn't win there they just didn't know what the hell they were doing when I go to succeed or something I feel excited if your honor Wow why I have to choice we saw that there's a huge opportunity in China because in China the banking is so inefficient we realized if we could create a payment system it could grow to much more than a payment system it could become a financial institution and this opened of course a huge door because it enabled him to there was no way to pay for things online people didn't yet have credit cards so with Ali pay he added a very important room onto his house and that was the room of how do we get payments made being creative in business is a whole nother kind of creativity but creativity nonetheless to be able to envision different business models to be able to envision how life can change this was a true revolution in China both in consumerism and in the Chinese economy this is huge the number of products on on Alibaba is gigantic I don't know the number but it's phenomenal I don't think I could ever appreciate pressures that Jack Maz under to be a hard-charging entrepreneur at the same time as he's a part of a communist system in some way that takes people away leaders of businesses and [Music] [Applause] [Music] I believe the three things you should not touch power money the glory if you keep the power in your office you're being troubled if you keep the money in your own pocket you will be in trouble if you put the girl bring your hat in trouble so we have the money spend the money supporting more people when your power empower the others when the gowri put the other hat people have it up so it's quite a mom here there are more than 130 press organizations waiting here to see Jack Ma you felt like it was lose the Oscars I was very annoying because you have to admire that kind of thing the IPO of Alibaba was the single largest and the biggest day that I [Music] [Applause] it didn't disappoint it went up enormous ly at the time this is the beginning nobody Bella it gave it a market value largest amount of Walmart on day one ma himself has become China's richest man I've just by the founding of Alibaba today he is expected to be worth north of twenty two billion dollars this was a very big deal for China not just for Olli pop today what we've got is a ton of money what we've got it is the trust from the people when you go to the headquarters it's very interesting it's all young people I I didn't see I don't think I saw anybody in the headquarters over 30 when we hi lot of people I never seen that diploma I just say where they are optimistic where they want to learn new things who wanted to change things you want to work at teamwork those people for below 30 years old they are the internet generation they are the generation going to change the future we think data is going to be so important of human life in the future so now we just decide we are the earth firster running compared to tomorrow our did is nothing jack my day to day is not running Alibaba he is the visionary he is the strategic thinker about the big picture next 30 years the technology is gonna challenge a lot of job opportunities people already unhappy because a lot of machine learning artificial intelligence killing lot of job people start to worry so I think the good thing is that technology is going to improve in people's in life Jack Ma someone who always dreams big I mean really big a lot of us have dreams but Jack's dreams almost seem unrealistic they're so big machine is good knowledge but human being a good at the wisdom you have to stay relevant but at the same time you also have to be a risk-taker and you have to shake things up a little bit well Alibaba wanna do next to 1020 years is to enable the innovation of traditional business transform the world transform all the traditional retailer manufacture financing sectors is largest financial services companies in the country on the back of in a sense Alibaba we are enabling small business a young people to be able to reach financial support they're the first private company to become an Bank approved by the Chinese government I think it's monstrous I think it's very important and but I would think that it's also probably nerve-wracking it's great to be Goliath if you're in an open society and a free economy it can be very problematic to be a Goliath when the other Goliath is the Chinese Communist Party I don't think I can ever appreciate pressures that Jack Ma is under to be a hard-charging entrepreneur at the same time as he's a part of a communist system in some way that takes people away leaders of businesses and disappears it takes a lot of a lot of fancy footwork to keep on the right side of that so sometimes when I look at the lease business people doing things I say wow I'm not gonna do anything like that he realized that although the Chinese government didn't like the internet for political content or for the ability for people to criticize the government what they did like about the internet was that it could help create jobs and help grow the economy every day more than 200 million people shopping through a mobile phone on our site you're seeing people in the middle of China with their smartphone press a few buttons and they can buy a lobster from Maine or cherries from Washington I would argue the growth of the mobile phone was probably the single most important thing that it's helped Alibaba become a giant it is we have more than 10 20 million small businesses using our platform and 60% of them this business never exist before Alibaba and he is so enthusiastic about what he's doing and what he's doing is pretty simple tastes a genius to think of the simple one of the secret sauce for Alibaba is that we have more than 48% of the men of the people in the company we they are women he's supporting women in an era where you know there's still residue disrespect for women and I think for him to be able to bring that to China is extraordinary I do everything to making sure that on my customer happy I'm pretty happy the society is good it's a healthy social responsibility is the key to somebody who is preposterous ly unlikely to become what he's become he's more or less stayed who he is he is someone who wants to do good not only in business but in the world he has the power to inspire other people he has the ability to understand what he doesn't understand but knows that he can find people who can and well for him I think he saw the possibilities of a new way I'm not only doing business but of life he's focused on these bigger issues and where the company's going in the broad of our history you were to ask Jack Ma what's his greatest accomplishment it would not be you know becoming the richest man in China or building a company worth hundreds of billions of dollars I think he might measure his own success by the impact that he's created on China rather than the impact is created on just himself and his own team it's always scarce looking far away oh my god that's a difficult place go there test jumping good you never learn swim underwater [Music] [Music] [Music] you you
It gives you purpose, you could have a job or you can have a career or you can have a calling, and the best thing is to have a calling and if you find your passion, you ‘ Ll, have that and all your work won’t feel like work to you.
Many many kids and many grown-ups do figure out over time what their passions are, and sometimes we let our I don’t, think it’s. That hard, I think, what happens, though, sometimes is that we let our intellectual selves overrule those passions and so that’s.
What needs to be guarded against my job. One of my jobs as the leader of Amazon is to encourage people to be bold and people love to focus on things that aren’t yet working and that’s, good. It’s. Human nature, that kind of divine discontent can be very helpful, but you really you know it’s incredibly hard to get people to take bold bets, and you need to encourage that and if you’re gonna take bold bets.
They’re gonna be experiments and if their experiments, you don’t, know ahead of time, go they’re going to work. Experiments are by their very nature prone to failure, but big success is a few big successes.
Compensate for dozens and dozens of things that didn’t work, so you know bold bets AWS, Kindle Amazon, Prime, our 3rd party seller business. All of those things are examples of bull bets that that did work and they pay for a lot of experiments.
I’ve, made billions of dollars of failures at amazon.com literally billions of dollars of failures, and you know you might remember pets, calm or Cosmo, or you know, give myself a root canal with no anesthesia very easily.
None of those things are fun, but but they also they don’t matter. What really matters is companies that don’t continue to experiment companies that don’t embrace failure. They eventually get in the desperate position where they only thing they can do.
Is we could kind of Hail Mary bet at the very end of their corporate existence, whereas companies that are you know, making bets all along? Even you know big bets, but not bet the company bets I don’t.
I don’t believe in bet the company bets that’s. When you’re desperate. That’s, that’s. The last thing you can do it’s, not you can be out of work and you have terrible work-life balance. You know, even though you’ve got all the time in the world right.
You could just feel like. Oh my god, you know I’m miserable and you would be draining energy, and so you have to find that harmony. It’s, a much better word and I think for most people it’s about meaning people want to know that they’re, doing something interesting and useful, and for us you know, because of the challenges that we have Chosen for ourselves, we get to work in the future and it’s super fun to work in the future for the right kind of person.
Do you need to be if you nimble and robust, so you need to be able to take a punch, and you also need to be quick and and and and innovative and and doing new things at a high speed that’s? That’s, the best defense against the future, and you have to always be leaning into the future.
If you’re, if you’re leaning away from the future, the future is gonna win every time. Never ever ever lean away from the future. We all have adversity in our lives, yeah. I I would. I would I doubt if you really, you know if you know somebody any friend or anybody that you talk to there’s.
No lack of adversity and the, and by the way, that’s good because it’s. What teaches us how to get back up? You fall down, you get back up, it always happens and you know you get certain gifts in life and you want to take advantage of those, but you I guess my advice on adversity and success would be to be proud not of your gifts but of your Hard work and your choices, so you know you may be the kinds of gifts you get light.
You know you might be really good at math. It might be really easy for you that’s, a kind of gift, but practicing that math and taking it to the next step. That could be very challenging and hard and take a lot of sweat that’s.
A choice you can’t really be proud of your gifts because they were given to you. You can be grateful for them and thankful for them, and but your choices, you choose to work hard. You choose to do hard things.
Those are choices that you can be proud of. Being an inventor requires, because the world is so complicated. You have to be a domain expert. I mean in a way, even if even if you’re, not at the beginning, you have to learn.
Learn learn, learn, learn enough, so to become a domain expert, but the danger is once you’ve become a domain expert. You can be trapped by that knowledge and so inventors have this paradoxical ability to have that.
You know 10,000 hours of practice and be a real domain expert and have that beginner’s. Mind have that that look at it freshly, even though they know so much about the domain and that’s. The key to inventing you have to have both – and I think that is intentional.
I think all of us have that inside of us and we can all do it, but you have to be intentional about it. You have to say yeah, I am going to become an expert and I’m gonna keep my beginner’s, mind you can’t skip steps.
You have to put one foot in front of the other things. Take time you there are no shortcuts, and but but you want to do those steps with you, know, passion and ferocity. It’s, easy to have ideas. It’s very hard to turn an idea into a successful product.
There are a lot of steps in between it takes persistence relentlessness, so I always tell people who are you know who think they want to be entrepreneurs, it’s. You need a combination of stubborn relentlessness and flexibility, and you have to know when to bewitch and basically you need to be stubborn on your vision, because otherwise it’ll be too easy to give up.
But you need to be very flexible on the details because, as you go along pursuing your vision, you’ll, find that some of your preconceptions were wrong. You’re gonna need to be able to change those things, so I think, taking an idea successfully, all the way to the market and turning it into a real product that people care about and that really improves people’s.
Lives is a lot of hard work. Don’t try to chase what is kind of the hot passion of the day. I think we actually saw this. I think you see it all over the place in many different context, but I think we saw it in the internet world quite a bit where you know it’s, sort of peak of the sort of Internet.
You know mania and say: 1999. You found people who were you know very passionate, something they kind of left that job and decided I’m. Gon na you know could do something in the internet because it’s.
You know it was almost like the you know. The 18-49 Gold Rush in a way I mean you, find that people, if you go back and study the history of the 18-49 Gold Rush, you find that you know at that time. Everybody who was in was within the shouting distance of California.
Was you know they might have been a doctor, but they quit being a doctor and they started panning for gold and that that almost never works, and even if it does work, you know, according to some metric financial success or whatever it might be, I suspect it Leaves you ultimately unsatisfied, so you really need to be very clear with yourself and I think one of the best ways to do that is this notion of projecting yourself forward to age 80.
Looking back on your life and trying to make sure you’ve minimized the number of regrets you have that works for that works for career decisions. It works for family decisions, you know, do you want? I have a 14 month old son and it’s very easy for me to.
If I think about myself, when I’m 80, I know I want to watch that little guy grow up, and so, if it’s, I don’t want to be 80 and think shoot. You know I missed that whole thing and I don’t have the kind of relationship with my son that I wished I had and so on and so on.
So, if you think about that, so I guess another thing that I would recommend to people is that they always take a long term point of view, and I think this is something about which there’s, a lot of controversy.
You know there’s, a you know there’s a you know something a lot of people and I’m. Just not one of them believe that you should live for the now. I think what you do is you think about the the great expanse of time ahead of you and try to make sure that you’re planning for that in a way that’s gonna leave, you ultimately satisfied.
So this is just my. This is the way it works for me, and I mean this is everybody needs to find that for themself? So there are a lot of paths to satisfaction and you need to find one that works works for you, [, Music, ], [, Music, ],
How can you get fired from a company? You’ve started well, as Apple grew. We hired someone who I thought was very talented to run the company with me and for the first year or so things went well, but then our visions of the future began to diverge, and eventually we had a falling out when we did our Board of Directors.
Sided with him, and so at 30 I was out and very publicly out what had been the focus of my entire adult life was gone and it was devastating. I really didn’t know what to do. For a few months. I felt that I’d, let the previous generation of entrepreneurs, down that I had dropped the baton as it was being passed to me.
I met with David Packard and Bob Noyce and tried to apologize for screwing up so badly. I was a very public failure and I even thought about running away from the valley, but something slowly began to dawn on me.
I still loved what I did. The turn of events at Apple had not changed that one bit I’d, been rejected, but I was still in love, and so I decided to start over. I didn’t, see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened.
To me. The heaviness of being successful was replaced by the lightness of being a beginner, again less sure about everything. It freed me to enter one of the most creative periods of my life during the next five years.
I started a company named next. Another company named Pixar and fell in love with an amazing woman who would become my wife. Pixar went on to create the world’s first computer animated feature film Toy Story and is now the most successful animation studio in the world.
In a remarkable turn of events, Apple bought next and I returned to Apple and the technology we developed it. Next is at the heart of Apple’s, current Renaissance and Laureen, and I have a wonderful family.
Together I’m. Pretty sure none of this would have happened. If I hadn’t been fired from Apple, it was awful tasting medicine, but I guess the patient needed it. Sometimes life’s. Gon na hit you in the head with a brick don’t lose faith.
I’m, convinced that the only thing that kept me going was that I loved what I did you’ve got to find what you love, and that is as true for work as it is for your lovers. Your work is gonna fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work, and the only way to do great work is to love what you do.
If you haven’t found it yet keep looking and don’t settle as with all matters of the heart you’ll know when you find it and like any great relationship, it just gets better and better. As the years roll on so keep looking don’t settle [ Music, ], [ Applause, ], [, Music ], you
Just this past March., I was flunking out of college. I had a 1.7 grade point average.. I hope none of you can relate. I had 1.7. Grade point average.. I was sitting in my mother’s, beauty shop; They still call it beauty shops now what they call it.
Yeah I’ll sit in the beauty parlor. I was sitting in my mother’s, beauty parlor and I’m. Looking in the mirror – and I see behind me this woman under the dryer And every time she looked up. Every time I looked up.
– She was looking at me Just looking at me in the eye I don’t know who she was, and I Said You know she said somebody give me a pen give me a pencil. I have a prophecy March 27. 1975. She said boy, you are gonna travel the world And speak to millions of people Now mind you.
I flunked out of college. I’m thinking about joining the army. I didn’t know what I was gonna do.. She’s telling me I’m gonna travel the world and Speak to millions of people. Well, I have traveled the world And I have spoke to millions of people, But that’s, not the most important thing.
The success that I had the most important thing is that what she taught me And what she told me that day has stayed with me since I’ve been protected., I’ve been directed., I’ve been corrected. I kept God in my life and has kept me humble.
I didn’t, always stick with him, but he always stuck with me. So stick with him in everything you do. If you think you want to do what you think I’ve done, then do what I’ve done and stick with God number two fail: big: That’s right fail! Big Today is the beginning of the rest of your life, and it can be be very frightening.
It’s, a new world out there. It’s a mean world out there and You only live once So. Do what you feel passionate about. Take chances professionally. Don’t be afraid to fail. There’s. An old IQ test was nine dots And you had to draw five lines with a pencil within these nine dots Without lifting the pencil.
The only way to do it was to go outside the box, So don’t be afraid to go outside the box. Don’t, be afraid to Think outside the box. Don’t be afraid to fail big to dream. Big but remember dreams without goals Are just dreams and they ultimately fuel disappointment, So have dreams But have goals.
Life goals, yearly goals, Monthly goals daily goals.. I try to give myself a goal every day. Sometimes Just did not curse somebody out simple goals, but have goals and understand That to achieve these goals, You must apply discipline and consistency.
In order to achieve your goals, you must apply discipline which you’ve, already done and Consistency every day, not just on Tuesday and miss a few days. You have to work at it. Every day you have to plan Every day you’ve heard the saying we don’t plan to fail.
We fail to plan hard work, works. Working really hard is what successful people do and in this Text, tweet twerk world that you’ve grown up in Remember just because you’re doing a lot more Doesn’t mean you’re.
Getting a lot more done. Remember that, just because you’re doing a lot more Doesn’t mean you’re, getting a lot more Done! Don’t confuse Movement with progress. My mother told me: you can run in place all the time and never get anywhere So continue to strive.
Continue to have goals continue to progress. Number three: you’ll, never see a u-haul behind a hearse. I’ll, say it again. You’ll, never see a u-haul Behind a hearse.. I don’t care. How much money you make you can’t, take it with you And it’s.
Not how much you have It’s. What you do With what you have. We all have different talents. Some of you will be doctors, some lawyers, some Scientists, some educators, some nurses, some teachers., Yeah, okay, Some preachers.
The most selfish thing you can do in this world Is help someone else. Why is it selfish? Because the gratification, the goodness that comes to you, the good feeling, the good feeling that I get From helping others, nothing’s better than that not jewelry, not big house.
I have not the cars, but it’s. The joy. That’s, where the joy is in helping others. That’s, where the success is. Finally, I pray that You put your slippers way under the bed tonight So that when you wake up in the morning, You have to get on your knees To reach them, And While you’re down, there Say thank you for grace.
Thank you for mercy.. Thank you for understanding. Thank you for wisdom.. Thank you for parents.. Thank you for love.. Thank you for kindness.. Thank you for Humility. Thank you for peace.. Thank you for Prosperity, say.
. Thank you in advance for what’s already yours, That’s! How I live my life that’s, where I am one of the reasons why I am today Say thank you in advance for what is already yours, true desire in the heart for Anything good.
Is God’s, proof to you sent beforehand to indicate that it’s? Yours already, I’ll, say it again, True desire in the heart that itch that you have Whatever it is. You want to do that thing that you want to do to help others and to grow and to make money That desire that itch that’s, God’s! Proof to you sent before hand already to indicate that it’s.
Yours and anything you want good. You can have So claim it Work hard to get it When you get it. Reach back, pull someone else up. Each one teach one Don’t just aspire to make a living Aspire to make a difference.
No one put God. First put God. First in everything, you do everything that you think you see in me. Everything that I’ve, accomplished everything that you think I have, and I have a few things everything that I have is by the grace of God, understand that it’s a gift 40 years ago, March, 27.
1975. It was 40 years ago, just this past March I was flunking out of college. I had a one-point 7 grade point average. I hope none of you can relate at a 1.7 grade point average. I was sitting in my mother’s, beauty shop.
They still call it beauty shop now what they call it yeah I’ll sit in the beauty parlor. I was sitting in my mother’s, beauty parlor and I’m. Looking in the mirror – and I see behind me this woman under the dryer and every time she looked up she every time I looked up – she was looking at me.
Just look at me in the eye I don’t know who she was, and I said you know she said somebody give me a pen give me a pen, so I have a prophecy March. 27. 1975. She said boy, you were gonna travel. The and speak to millions of people now mind you, I flunked out of college.
I’m thinking about joining the army. I didn’t know what I was gonna do. Is she’s telling me? I’m gonna travel the world and speak to millions of people? Well, I have traveled the world and I have spoke to millions of people, but that’s, not the most important thing.
Success that I had the most important thing is that what she taught me and what she told me that day has stayed with me since I’ve been detected, I’ve, been directed, I’ve been corrected. I’ve, kept God in my life and has kept me humble.
I didn’t, always stick with him, but he always stuck with me. So stick with him in everything you do. If you think you want to do what you think. I’ve done then do what I’ve done and stick with God number two fail: big: that’s right fail.
Big today is the beginning of the rest of your life, and it can be. It can be very frightening and it’s, a new world out there, it’s a mean world out there and you only live once so. Do what you feel passionate about passionate about, take chances professionally, don’t be afraid to fail.
As a know like you test was nine dots and you had to draw five lines with a pencil within these nine dots without lifting the pencil. The only way to do it was to go outside the box, so don’t be afraid to go outside the box.
Don’t, be afraid to think outside the box. Don’t be afraid to fail big to dream. Big but remember dreams without goals are just dreams and they ultimately fuel disappointment, so have dreams but have goals, life goals, yearly goals, monthly goals, daily goals.
I try to give myself the goal every day. Sometimes just did not curse somebody out simple goals, but have goals and understand that to achieve these goals, you must apply discipline and consistency. In order to achieve your goals, you must apply discipline which you’ve, already done and consistency every day.
Now I just want to say and miss a few days you have to work at it. Every day you have to plan every day you’ve heard the saying we don’t plan to fail. We fail to plan. Hardwork works, working really hard is what successful people do and in this text, tweet twirl that you’ve grown have been remember just because you’re doing a lot more doesn’t mean you’re.
Getting a lot more done. Remember that, just because you’re doing a lot more doesn’t mean you’re, getting a lot more done! Don’t confuse movement with progress. My mother told me so yeah yeah cuz, you can run a place all the time and never get anywhere so continue to strive.
Can you to have goals continue to progress? Number three! You’ll, never see a u-haul behind a hearse [ Music ]. I’ll, say it again: you’ll, never see a u-haul behind a hearse. I don’t care. How much money you make you can’t, take it with you and it’s.
Not how much you have is what you do with what you have. We all have different talents. Some of you will be doctors, some lawyers, some scientists, some educators, some nurses, some teachers, yeah, okay, some preachers.
The most selfish thing you can do in this world is help someone else. Why is it selfish? Because the gratification, the goodness that comes to you, the good feeling, the good feeling that I get from helping others, nothing’s better than that not jewelry, not big house.
I have not the cars but the it’s. The joy that’s, where the joy is in helping others that’s, where the success is. Finally, I pray that you put your slippers. It’s way under the bed tonight, so that when you wake up in the morning, you have to get on your knees to reach them: [, Music, ], and while you win, while you’re down, there say thank you for grace.
Thank you for mercy. Thank you for understanding. Thank you for wisdom. Thank you for parents. Thank you for love. Thank you for kindness. Thank you for humility. Thank you for peace. Thank you for Prosperity say.
Thank you in advance for what’s already yours? How I live my life that’s, where I am one of the reasons why I am today say thank you in advance for what is already yours, true desire in the heart for anything good.
Is God’s, proof to you sit beforehand to indicate that it’s? Yours already, I’ll, say it again, true desire in the heart that itch that you have whatever it is. You want to do that thing that you want to do to help others and to grow and to make money that desire that itch that’s, God’s.
Proof to you sit before hand already to indicate that as yours and anything you want good, you can have so claim it work hard to get it when you get it. Reach back, pull someone else up. Each one teach one don’t just aspire to make a living aspire to make a difference.
Denzel[, Music, ],
Reality. Everything comes with pieces that you don’t like every job comes with pieces. You don’t like, and we need to say that’s, just how that’s, part of it. You have to figure out how to set up your life in such a way that you can minimize the things, and I find people don’t dislike hard work.
What people dislike and what is being out of, control like they can’t control their life they can’t control their environment. This happens to me when I get over scheduled, I hate being over scheduled.
I want some time to be able to think and free myself. We all have the same amount of time in the world. Nobody has more time than anybody else and when you become a very successful person, one of the things you start to get over scheduled.
If you don’t love your work, you’re, never gonna be great at it. The other thing I would suggest to any young person, even before they start their career, is to really think about their choices, because I find young people – and I, when I was young I had I made this mistake too.
You can get very fixed on your gifts, so everybody has gifts, you know you, you have gifts and you have things that you didn’t get gifted. Maybe you’re, extremely beautiful. Maybe you’re extremely good at mathematics.
Maybe you there are a lot of things that you can be given, but those things can confuse you because they’re, not the things that construct your life. It’s, your choices that construct your life, not your guests! You can celebrate your gifts, be proud of them, be happy of them.
Actually, don’t, be proud of them beep and be celebratory of them, but you can’t be proud because they’re gifts. They were given to you, you didn’t earn them. You can only be proud of the things you earn, and so, as I got older, I started to realize I wasn’t proud of my gifts.
I was always good at school. School is always easy for me, and I was always proud that I was a great student. I got AIDS and all my classes. I was good at math. All of that – and I thought I thought that’s, who I was, but it’s, not true.
Those are the things that are gifts. What was hard for me is deciding to work hard, deciding to use my gifts in certain ways to challenge myself. To do things that I didn’t think I could do to put myself in uncomfortable situations.
You can choose a life of ease and comfort or you can choose a life of service and adventure which one of those when you’re 90 years old. Are you going to be more proud of tomorrow in a very real sense, your life, the life you author from scratch, on your own begins? How will you use your gifts? What choices will you make? Well inertia, be your guide, or will you follow your passions? Will you follow Dogma or will you be original? Will you choose a life of ease or a life of service, an adventure? Will you wilt under criticism, or will you follow your convictions? Will you Bluff it out when you’re wrong or will you apologize? Will you guard your heart against rejection or react when you fall in love, will you play it safe, or will you be a little bit swashbuckling when it’s? Tough, will you give up or will you be relentless, will you be a cynic, or will you be a builder, will you be clever at the expense of others, or will you be kind tomorrow and in a quiet moment of reflection, narrating for only yourself, the most Personal version of your life story, the telling that will be most compact and meaningful will be the series of choices you have made in the end.
off BezoaWe are our choices, build yourself, a great story.
Follow somebody Go to a small company. Normally in a big company., It is good to learn. Processing. You are a part of a big machine, But when you go to small company, you learn the passion. You learn the dreams.
You learn how to do a lot of things at 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 interpreted 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 the rate of dying is too big, so 40 to 50. Think about how can focus on things that you are good at. But when you are 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 s over 60 or so spend time for yourself on the Beach sunshine Right, it’s too late way to change normally. But I visit by by a device to the young people tWenty-five years old, Make enough mistakes.
Don ‘ T worry, you fall. You stand up. You fall your step enjoy it.! I’m. It’s only five years., Oh it. Enjoyed., The show in do it. I Didn’t. Have a rich father tried three times for university all filled.
I Apply for, however, for ten times all filled. They’d, only want to see me. For the last time I went to the teachers college, which was Considered the third or four class of my fitting To apply jobs of Thirty times.
I’ll reject it.. It was so difficult at that time. I was so frustrated because I taught in the university my pain was ten dollars a month, Because I could not find a good job in 1990. Foot Discussed that I’m.
Going to do something called internet and 23 of them. I guess that they said this is stupid idea. We have never heard by the internet and you know nothing about computer and I never thought I was smart.
Nobody believed that I could be successful Because everybody said well. This guy thinks differently. Singer crazily. You know they think about something. Never worked. I try to borrow 3,000 us daughter from the banks took me three months, But I still cannot get it.
We talked over 30 or 40 venture capitalists., Everybody said no forget it. A Lot of people said Alibaba is a terrible model. As I said, I believe, it.. I think this thing could be big. I never thought you will be that big like today.
I believe that something something is waiting for me there and I have to work hard to prove myself. That was the tough experience, so we gather 50,000 us dollars from 18 fighters. We started For the first three years.
We do not have even one dollar revenue from our business.. What’s, not easy, Why it keeps the going ahead going forward, because I received lots of email of thanks from the customers. They say this is such a great thing.
We cannot obtain you, But this thing’s, helped us. If you keep on helping us one day, you will be successful And I believe this little by little we build up our business little by little. We’re good about Ecosystem of the Infrastructure, and now after 16 years, we have a alibaba group who have a team or group.
We have a tarball group where we pay and people said you are so smart. How could you make a company like that Bill Gates Warren Buffet, the Jack Welch Very page, mark Zuckerberg, the difference between those people and other people.
? They are always Optimistic for the future. They never complained. They always tried to solve the problems of the others. When you’re up to Mr.., It’s, always opportunity People same here today. Jeff.
, Where is the opportunity I don’t have a job. I don’t. Have this? I don’t. Have a debt We are at them back to time of the century. The best assets. You have is that you are young. Don’t complain. Let the other people complain.
The opportunity Lie always lies where people complain think about how you can make things different. Is there anything I can do that, make the difference, 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 opposite again 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.
Use your instinct everything you do is to the need of the customer To everybody to any person tomorrow is new, Make the move make the action, Whether investors believe it is 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. How the things happens, Make enough mistakes. You fall. You stand up any mistake. Is that income is a wonderful revenue.
Don’t worry about the money. Money follow the people, people should follow the dreams. If you have a dream just to go ahead, I Think nobody can conquer the world. We only can serve the world Either work for the others or work for yourself, and I choose the way work might for myself Working for myself.
That means working for the society. If you really want to work with yourself Think about the others, because only when the other people are successful, when the other people are happy, you’ll, be successful.
You will be happy. I think today people worry a lot about the world about the economy, China economy in the world, and 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 Company’s, always happening in the tough times Lives like the music.
You have a pivot down, you have a longer shot nodes And I, like the American movie life life, is like a box of chocolate. You never know what you’re going to 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 the young people that never serve Technology for internet is so cheap, so easy to use.
One of the reasons why we grow in China, e-Commerce so fast much faster than the us, because our Infrastructure of Commerce in China was too bad. Why it is too bad something happening 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 incomes less than one dollar per day and before the internet, it’s Impossible.
For these guys to reach the PC, because it’s, so difficult, even people like me, I don’t, know how to use in PC, But now 80 stand up the farmers. Those will be using mobile phones when have the mobile phones.
The internet, The Data things change it a lot, so I’m excited about the 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 and Let’s, just take What you do And I loved every description.. I’ve ever heard you about how you serve people and Your story about the Bamboo farmers and your wife and her friends.. It’s tagless, but where’s, this going? What are you going to do? What are your plans To maximize the use that people in remote rural areas of China Can make of their cell phones? Besides ordering your projects, how are you going to get it? Are you going to get them in the banking system through cell phones? How well We we never know that we can’t grow so fast, the path to five miles.
We covered 4500 Villages and These people, not only they a using very Traditional way that it takes them. Like two of we went to the rural area, it took them the farmers two hours to work to the downtown in in the middle of the town and buy things.
But today, Because the mobile phone and we deliver, we can deliver things to their home to their Village within 72 hours. I remember there’s a well last week.. I read a very interesting if this is chant amazing, There is a girl.
She told me a story: She said her grandfather, 92 years old birthday and for his life.. He always wanted to try one Western-Style food, But he lived in the rural areas. There’s, no such restaurant food.
. So she said I tried on the internet. Booked a restaurant dinner for Western food delivered to that village And finally, immediately find one restaurant. There are three guys they took like a three-day bus from the from Shanghai to that Village made a italian spaghetti and beef for them for the 92 Years old birthday And whole Village was excited, everybody says wow, you can order food West, –, Western-style food, so [ You can ] buy almost everything and also we are helping there a lot of Farmers.
They plant love, apples, Great apples, But 90 % of the apples route it because there’s, nobody by allah they normally buy by track. You know if you sell the the apples this our whole track and using a traditional way they can.
They can sell by whole basket of the apples, but now because of the internet, the sell by one by one, each apple to sell $ 1 o in a 190 or 200 for each. So the farmers of the using internet they can buy and sell Using a mobile phone that change their lives and I think it’s.
Exciting And people need examples when they see well the other. My neighbor’s maker made money through online to selling things my neighbor made. You know by much interesting things. Online people start to learn and More people started by the mobile phones.
We cannot have. We cannot make all the factory the mobile factories To sell phones to them only. They know the mobile phone really works. Helping change their lives is to divide Mobile phones, Just one more question, and then do you think this will make the current problems like a current problem in China.
Less likely. That is. If We’ll have more market information in the market will drive where the investment goes Instead of the government trying to make judgments about. I better build another housing, development or office development here there yonder And you wind up with a bubble.
Well, it comes from the bottom up. Is it more likely that fewer bad things will happen yeah? They know, I think. The Last week I was in Seattle discussing about the China. Ah nummy.. I think the you american people worry too much about the China economy.
Well, you see Every time where you start to worry about the china. China goes better every time you think Chinese are in problem. You know we’re good., You know we’ll get better, but we never say.
However, you have a high expectation, er, trying to always a problem Like a parents of the expectation of the kids. You know at the same, But there’s, a big difference between the American consumption, because people say wow.
You know the economy is bad. So China consumption will be good. Look no totally different. You American love to spend it tomorrow’s, money and The other people’s money, maybe all maybe the Kudus money.
We chinese love to save money. We are probably the largest Country under the safe deposit in the whole world that will people, because we’ve been poor for so many years. When we meet money We’re put in the banks because Sunday We know the disaster is coming, so we can spend the money.
. So when the economy’s bad, We still have the money to spend you guys, probably don’t. You worried, and The second thing is the China being, if marketing China being focusing on developing for path to 30 years, China government so strong on Investment, so strong on exporting, but they are too weak on the domestic consumption.
Domestic consumption is not driven by governments driven by entrepreneurship Driven by the market, not the government. So in the past two years, past 20 years government is so strong. Now they get a week.
, It’s, our opportunity, It’s. Our show time To see the market economy Entrepreneurship, how we can develop the real consumption. I think we’re. If the China developed a great consumption, we have a 300 million Middle class in next 15 to 20 years.
We’re, going to have been a middle class.. We need to import a lot. So when we start to import That’s, a great., It’s. Going to. I worry a lot when we act when we export., We ‘ Ve got a terrible sky, We have a terrible water, we have a terrible environment when we start import.
We got to be better So that’s. All the great opportunity guys be happy about that. I’m serious.. We’re that serious. I’m them. We worry about yourself. Don ‘ T worry the reason some of them to worry about China is, we depend on you to buy our debt.
However, I tried to be more chinese when I was president.. I saved a lot of money so good, but I just wanted you to say that, because I Really believe that I mean, I think you’re. Absolutely right. The Trend toward greater internal consumption is, I think, will remain unbroken In spite of whatever the difficulties are in the next few months.
I think it’s. Important not to over react. You can’t break the trend.. You’ve, got to clean up the land from Chemical contaminants. You’ve got to clean up the air, you’re, going to do it, and a lot of Chinese will Make a lot of money out of that.
There’ll, be a lot of great new companies and they’ll, be opportunities to import from other places. Yes, so Can you discuss your theory of What you’re, doing and other things in terms of whether it advances equal opportunity and social solidarity? Tell them what you think is going to happen and What other kinds of when your opening remarks? You just said Technology is going to be active in this way in other areas of the economy.
. What do you think the next big opportunities are, but first Tell them just in two sentences: what you’re doing, because Jack – and I know, and we haven’t been clear enough, Explain it and Explain how you think that Advances social Solidarity and equality of opportunity.
Our work is in the belief that access to health information is a basic human right and that lab information, particularly because Lab data drives. Seventy percent of clinical decisions I’m – needs to be accessible to people before they’re sick.
So if you look at the word diagnosed in the dictionary today, It says to determine the presence of disease from symptoms, which means, by definition, We’re, determining that people are sick Once a disease has already progressed and our work is in being able To Make lab testing accessible to people in time for therapy to be effected, and To do that in a way in which every person, Irrespective of their insurance status, irrespective of where they live, Can afford the ability to get a test done.
So that means, in our case we ‘ Ve invested the last 12 years in now developing hundreds of tests, many of which are Less than ten dollars so in two dollar tests in the United States – And I think one of the amazing things about this country is that we have such an incredible Ecosystem for Fueling, creativity and that creativity can create new markets, so it answered your question about the market Being able to conform itself to social good.
I think the creativity that goes into creating these new technologies Creates new markets in and of themselves and and our basic belief. That is that those new markets come from empowering individuals and in franchising individuals and trusting that individuals have the capability to engage with information and in accessing that information, beginning to take control of their own outcomes and their own health outcomes.
And in doing so Changing the way our healthcare system works., I think what this could mean for Rural China. You know for Rural India, for native American reservations in America for the Mississippi Delta for the remote areas where all the jobs were lost from culture.
All of a sudden giving people information and One of the most important things I think we did – and my second term as president And healthcare fund – was developed as diabetes, self-care program and all of a sudden, You could be Jack’s.
Company could be delivering the means to self-care. Based on your test, I mean, I think that this is really. This is a very big deal. We all want to live as long as well as we can and Gregg Benner was here.
We were joking about whether we’d, make it to a hundred, But in the Meanwhile do you want to keep people healthy and if they’re sick. You want to intervene early, not late, Yeah. Well, And if you look at I mean the ability to engage with it’s information, we have a four trillion dollar health care problem in this country, 20 % of it is type 2 diabetes which is reversible, and we have 90 million Americans who Do not know they are pre-diabetic, But access to information and the ability to engage With that information is the foundation for being able to change those outcomes and and cost right One more factor than I want to call in Jack.
You founded this Company twelve years ago. Right tell them how old we were. I was 19, so Don’t worry about the future.. We’re in good hands. Okay, I always think of a 19-1 where I am 90 have not the past examination for University.
Yet I Filled a free times, but I think it we’re done.. I’m, not a good of schooling. Well yeah That’s. Why? I give confidence to a lot of young people in China. If Jackie Markham’s, success can be Successful.
80 % of that people can be successful. People like her are jealous well Equality. I I would like to make a little bit cut technology, helping because yesterday I was joining the united un women conference about Gender equality and I think the first.
A technology revolution Happened 200 years ago in the uk release the human body, their arms stronger, The second technology revolution in the USa for energy. You can last long, but this technology of revolution relief release the brain.
So this century is not a competition who is strong, whose muscles are stronger. This, who is a smarter? Who is up? Who can listen? You? It’s, the challenge of a wisdom, so men, women, equal on the internet.
You can never see he’s, a woman, a man and on the internet. Women can serve much better than men on the internet and a man talking about a business talking about you know, numbers competition to make business very cold Women.
They make business. Very cozy lifestyle and interesting 50 %, more than 50 % of our shop owners, want to have five million shop owners of women and People looked at me.. This is This is a great thing.
I see that this century. We see more and more women leaders on the state leaders, the presidents and in the future. We’re, going to general scepter of your nation shall be a woman leader, and this is the greatest century for equality, and I feel excited about that when they ask you, I’m.
We’re almost out of time, but I one of the things that we haven’t talked enough about here, And I just hear, but generally is whether the leap frogging we saw with cell phones, Which was instrumental in your phenomenal business.
Success and which will make it possible for you At the appropriate time to do what you’ve done on a global scale, into Unimaginable in all of Human history, for anybody to have any of their own health data.
We haven’t. We seen examples, but not the kind of dramatic Penetration we need With energy and clean energy and enough, and it’s short enough time To avoid the worst consequences of climate change. So do you believe that I mean your country has done more than anybody else to try to put up solar panels and some of your Companies when it broke, because you overdid it right Beforehand and you got to work out the phase-out of the coal.
The phasing in the sun and all that Meanwhile, Africa, which is growing like crazy because of the cell phone in no small measure and as six of the fastest growing countries in the world, Still has vast swathes of its land totally dark at night.
Do you believe that it’s possible for us to Scale up with distributed? Solar power is rather than centralized as quick as we did with a cell phone and, if so, And if that were your business, if you had to quit what you’re doing today and start there, How would you do it and how would you Do it At first, I know that You know I’m, such a huge Believer in technology, and I think especially right now.
We’re at an incredible time in terms of new technology and the ability to apply technology in a scalable way Towards solving some of these problems. So I would look at it in the context of some of the renewable solutions that we already have and in the context of empowering Connecting individuals with access to those solutions in the context of creating markets around them.
I think that there’s real Opportunity to actually create an Ecosystem in which people can financially benefit from these solutions, And I think that’s going to drive an adoption.. I think in developing economies There’s, a revenue stream associated with that and the more we can Turn even already some of the technologies that we have Into markets.
The more that we can fuel.. I believe local growth and individual engagement in in beginning to adopt some of these solutions Just related it would be jack. You answer and then I’ll. Ask you one final question: yeah I must don’t believe it.
. The technology can make war much better because people say China economy is getting slower. I’m happy about a 7 %, even 5 %, Even 5 % of the GDP of the number of China. The second large Economy is big enough, but you don’t expect China keep on growing 11 % because, like a one body, one human body, when you’re 1.
8 meters tall, you cannot keep on like a 10 percent growth every year. You have to grow the quality, your mind of wisdom, so I think China needs new technology to solve these problems and which, Today, the Data, the the clean technology, all these things that China is supposed to do.
If you keep on the tradition That the old ways will go nowhere, but this is why I Feel excited because people ask me what is your dream now, because I never thought I would be today. I can Sit here. Talking to president, I’m, like a guy, you know on the street and like fill the three times for university five times for high key schools, I applied for 10 times in Harvard school or rejected.
I never thought because of the technology, because the internet gives me this opportunity, so I think when I retire, I Don’t want the Chinese people have a terrible water to drink and a save for food and people.
The money We make or spend in a hospital. That’s disaster, So how we can using the technology to enable young people the greater chance of this world. Don’t worry about. We got 1.4 billion people who are born in 1980s.
They are the people of the internet times they are going to have new ways to solve the world problems. The things you are worried about today, because of it and a human being, have these kind of worries for centuries And young people can always solve it, and today We have a right direction.
Clean energy. – You know the climate change all these issues, They will be solved and these are the great opportunities ahead of us Anything else. I Agree with that., I think, the more the more we can, the more we can enfranchise people, the more we can create ecosystems in which individuals are empowered than where we give rights to individuals to be able to build businesses to be able to To pursue the Economic benefit of technologies.
The more you see these markets change before they leave the stage. I Want you to look at them And I want you to think about the time we have had to spend here. Dealing with the refugee problems in Syria and Lebanon stand up Ellis.
This is my friend. Elias musab.. He’s, the education minister in Lebanon. He’s, got to educate all these kids, and So he left a miracle that very much reflects the lives that Elizabeth and Jack have lived.
He was At a very responsible position at the American University of Dubai.. They Started bringing American scholars over there to live in an an arabic culture. He did all these wonderful things. Lebanon gotten probably went home to save his country.
. What is the difference? How much more could he and every smart lebanese person do if they could focus on these things, and Why can he not Because the place is dominated by people who think their differences are more important than their common humanity and their common challenges? You cannot imagine Jack miles proud of being Chinese.
. I like that he’d, never hit it. He’s, happy about it out of product to be a global citizen, yeah – and I Imagine Elizabeth proud to be a blonde haired Blue-Eyed American Techno Wiz from Northern California.
Yes, but They don’t, Not a word either. One of them has said Has defined the meaning of their lives or the direction of their work. With negative reference to someone else. My friend Dikembe Mutombo stand up.
. No, you don’t stand up.. It hurts too much. You’re, an old man, My 7-foot too rich fall friend, was just inducted into the national basketball association Hall of fame and the my family. My whole family was – and I Have seen how much he is given back to his native country congo, which has been told troubles.
I’ve, known him, a long time.. We both went to Georgetown University. I Did before he was born. I think I’ve, never heard him say a resentful thing about anybody.. I have seen him give and give and give Try to give the people in his native land opportunities.
Why am I telling you this? He’s. Had a good life because He never defined his life with negative reference to anybody else. He never regretted anybody else’s success And he thought he had an obligation to help other people.
. I’m telling you This is the we are back in a time of collective global insecurity, Where the main struggle is the oldest one in human history, just in Modern Techno realities, Meaning if you were trying to build the middle east, you would think About our permanent sponsor here, the ambassador from Oman Who tried to her government tried to help head off a calamitous war in the middle east over the nuclear issue in Iran.
We all pray to God that it will work out on and early to late. You look around all these places wherever people are Putting aside their differences and working together. Good things are happening. We cannot achieve economic or social equality without living in the factional realities of the world.
We face looking at the obstacles looking at the opportunities making the best decisions and those of us who Even feel good about ourselves, because we think we spend a lot of time. Giving our whole goal Should be to work ourselves out of a job.
One of the things that The Bill and tani Austin were sitting there with starkey.. They started giving away hearing aids, and then they decided What we better teach these young people how to speak. If they get the gift of hearing They ‘
Ll have to learn that so they got into the education business. Sunny varkey got in the education business incited. Somebody ought to do something really dramatic to remind people that the only people that really matter the teachers, so he gave the first global teacher of the year award last year and an International panel gave the prize to a teacher from Maine who promptly gave the entire Million dollars to her school Woman never made any money in their life.
. She gave all the money away immediately. The future is going to be forged. My people, who think of how to use the modern tools That we are given as Elizabeth and Jack, have to create opportunity through empowerment, and It will not be a straight line.
. It’s too too many moving parts, And but I just want you to think about that. The reason you feel good looking at them is that you identify with them, even though they’re different from you, and That’s, basically, where we are all over again and we can’t slip.
Back. We can’t, give up that’s. Why we had the prime minister of italy and George soros talking about the future of Europe and George said it was coming apart, and the prime minister said no, It doesn’t have to come apart.
If it’s about something more than economics., I thought it doesn’t have to come apart. If you Will it not to – And you put yourself on the line for it. – There are no guaranteed outcomes today, But you can guarantee that the trend is right, So go ahead and we’re going to say something which I just wanted to add.
I mean if we’re talking about the future and and from my own experience and looking at all the faces here. I think a huge part of the answer to your question is also to raise our little girls with the stereotype.
They can be the best in engineering and science and math, because when they do in all of these industries, it changes everything and We need to do that in this country, and we need to do that as parents in other countries Yeah.
I was thinking about. If what you say I think about when you want, when you talk about Problems, you normally is like a politician.. We talk about opportunity, opportunity that the businesspeople. I was thinking about how we can using you know this all the problems that change the problem to come.
The opportunity and I Don’t know.. I just feel excited when people talk about problems. I Think that’s, think about if you can solve one of them, That’s the chance, and today Nobody in live in this century has so many opportunities and so many Tools they can use the change.
Other people’s life And I think in in the last century, which I called it time this century is got a dt. Ten Data technology. It is to Empower yourself make yourself strong Dt Is to empower the others.
When you empower the others, you empower your future yourself. So when I listen to talk, I Agree and I think that’s, why we were born in this century. That’s. Why we, How we can use the internet to help more people, It’s, given my hand.
. Thank you, [ Music, ], so 25 years old, don’t worry any mistake is an income is a wonderful revenue for you. So I taught myself and told my young people before 20 years old, be a good student. Wait to entrepreneur just learn some experience before 30 years old.
Follow somebody go to a small company. Normally in a big company, it is good to learn processing. You are a part of a big machine, but when go to small company, you learn 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 CLE.
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 dying is too big, so 40 to 50. Think about how can focus on things that you are good at. But when you are 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 ask over 60 years, know spend time for yourself on the beachside shine. It’s too late for you to change normally. But this is my by a device to the young people 25 years old, make enough mistakes.
Don’t worry, you fall. You stand up, you’re full you step enjoy it. I’m, it 25 years old enjoy the show enjoy the show I did. I have a rich father tried three times for university, all filled. I apply for harbor for ten times all filled.
They’d. Only want to see me. For the last time I went to the Teachers College, which was considered the third or fourth class of my city to apply jobs for 30 times that rejected it was so difficult. At that time I was so frustrated because I taught in the university my pay was ten dollars a month, because I cannot find a good job.
In 1994 disgust said I’m, going to do something called Internet and 23 of them against it. They said this is stupid idea. We have never heard about Internet and you know nothing about computer and I never thought I was smart.
Nobody believed that I could be successful because everybody said well, this guy think differently. Think of crazily. You know they think about something. Never worked, I try to borrow three thousand US dollars from the bank ‘
S took me three months, but I still cannot get it. We talked to over 30 or 40 venture capitalists, everybody say no forget it. A lot of people said: Alibaba is a terrible model, as I said, I believe it.
I think this thing could be big. I never thought you will be bad big like today, but I believe got something something is waiting for me there and I have to work hard to prove myself. That was the tough experience, so we gather 50,000 US dollars from 18 fighters.
We’re static for the first three years. We do not have the even one dollar revenue from our business. What’s, not easy, 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. 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 little by later, we build up our business little by little.
We’re good at our ecosystem of the infrastructure and now after 16 years, who have a Alibaba Group who have a team or group we have at our ball group where, for a leap, a and people said you are so smart.
How could you make a company like that Bill Gates Warren Buffet, the Jack Welch Larry Page Mark Zuckerberg, 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. When you’re optimistic it’s, always updating people same here today. Jeff, where is the opportunity I don’t have a job. I don’t.
Have this? I don’t have a debt. We are at the best of time of this century. The best assets you have is that you are young. Don’t complain. Let the other people complain. The opportunity lie, always lies where people complain think about how you can make things different.
Is there anything I can do that, make the difference and then, when you think about this started, 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, being an 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 use instinct. Everything you do is to the need of the customer to everybody to any person.
Tomorrow is a new make the move make the action, 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.
How the things happens, make enough mistakes, you fall you stand up. Any mistake, is an income. Is a wonderful revenue. Don’t worry about the money. Money, follow the people, people sure to follow the dreams.
If you have a dream just to go ahead, I think nobody can conquer the world. We only just serve the world either work for the others or work for yourself, and I choose the way work might for myself working for myself.
That means working for the society. If you really want to work with yourself think about the others, because only when the other people are successful, when the other people happy you’ll be successful, you will be happy.
I think today people worry a lot about the world about the economy. China economy in the world – and I’m, a very optimistic when people start to worry that that is the opportunity is. 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 a pivot down, your allow other shot nodes 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 USA, because our infrastructure of Commerce in China was too bad.
Why it is too bad? Something happened 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 it’s, so difficult, even people like me, I don’t, know how to use In PC but now 80 send up the farmers, those people using mobile phones, one of the mobile phones, the internet, the data things changing a lot, so I’m excited about the 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 and let’s, just take what you do and I’ve loved every description.
I’ve ever heard about how you serve people and your story about the bamboo farmers and your wife and her friends. It was fabulous, but where’s, this going? What are you going to do? What are your plans to maximize the use that people in remote rural areas of China can make of their cell phones besides ordering your project? How are you going to get it? Are you going to get them in the banking system through cell phones? How well we we never know that we can’t grow so fast, the past five months.
We covered 4,500 villages and these people, not only they they using very traditional way that take them. Like two of we went to the rural area, it took them the farmers two hours to work to the downtown in in the middle of the town and buy things.
But today, because the mobile phone and we deliver, we can deliver things to their home to their village within 72 hours. I remember there is a well last week I read a very interesting evening. This is chant amazing.
There is a girl. She told me a story. She said her grandfather, 92 years old birthday and for his life. He always wanted to try one western-style food, but he lived in the rural areas. There’s, no such a restaurant food.
So she said, I tried on the internet book a restaurant dinner for Western food delivered to that village and they finally immediately find that one restaurant there are three guys they took like a three days: bus from the from Shanghai to that village made a italic spaghetti And beef for them for this 92 years old, bursting and whole village was excited.
Everybody said, sir wow. We can order food rest, no rest, rest of style food, so buy almost everything, and also we are helping there a lot of farmers. They plunder love, apples, great apples, but 90 % of the apples routed, because there’s, nobody by Allah they normally buy by track.
You know, if you sell via the apples, they sell whole track and using the traditional way they can. They can sell by whole basket of the apples, but now because of the internet, the sell by one by one, each app with the sell one daughter’s.
Oh you know one imb or I’m just for each. So the farmers will see using Internet, they can buy and sell and use the mobile phone that change their lives and I think it’s. Exciting and people need examples when they see well the other.
My neighbors make made money through online to selling things my neighbor may, you know, buy much interesting things. Online people start to learn and more people started by the mobile phones. We cannot have.
We cannot make all the factory the mobile factories to sell phones to them. Only they know the mobile phone really works, helping change their lives, they started by the mobile phones, just one more question and then do you think this will make the current problems like the current problem in China, less likely.
That is if we’ll have more market information in the market will drive where the investment goes instead of the government trying to make judgments about. I better build another housing, development or office development here there yonder and you wound up with a bubble.
Well, it comes from the bottom up. Is it more likely that fewer bad things will happen? Yeah? You know, I think. The last week I was in Seattle discussing about the China economy. I think the you American people worry too much the China economy.
Well, you see every turn when you start to worry about the China. China goes better every time you think China is in problem. You know we’re good. You know we’ll get better, but when you ever say yeah, we ever you have a high expectation.
Show China, China, always a problem like parents of the expectation of the kids. You know are the same, but there is a big difference between American consumption, because people say wow. You know the economy is bad, so China consumption will be good low.
No, that are different. You American love to spend tomorrow’s, money and the other people’s money. Maybe oh, maybe the Kudus money. We Chinese love to save money. We are probably the largest country under the safe deposit in the whole world that we do.
People, because we’ve, been poor for so many years. When we made money, we’re put in the banks, because some day we know that disaster is coming, so we can spend the money. So when the economy’s bad, we still have the money to spend you guys, probably don’t.
You worried and the second thing that the China being is marketing. China been focusing on developing for past 2, 30 years, China government so strong on investment, so strong on exporting, but they are too weak on the domestic consumption.
Domestic consumption is not driven by governor is driven by entrepreneurship driven by the market, not the government. So, in the past two years, past 20 years government is so strong. Now they get a week, it’s, our opportunity, it’s, our show time to see the market economy entrepreneurship, how we can develop the real consumption.
You know, I think, what if the China developed a great consumption, we have a 300 million middle class in next 15 to 20 years. We’re gonna have been a middle class. We need to import a lot so when we start to import that’s, a grape, it’s.
Gon na. I worry a lot when we export you know when we export, we got a terrible sky, have a terrible water. We have a terrible environment when we start import. We got to be better so that’s. All the great opportunity guys be happy about that.
I’m serious yeah. I’m. We worry yourself don ‘ T worry the reason some of us worry about China is, we depend on you to buy our debt. However, I tried to be more Chinese when I was president, I saved a lot of money so but yeah.
I just wanted you to say that, because I really believe that I mean, I think you’re, absolutely right. The trend toward greater internal consumption is, I think, will remain unbroken in spite of whatever the difficulties are in the next few months.
I think it’s. Important not to over react. You can’t break the trend. You’ve got to clean up the land from chemical contaminants. You’ve got to clean up the air. You’re, going to do it, and a lot of Chinese will make a lot of money out of that.
There’ll, be a lot of great new companies, and there’ll, be opportunities to import from other places yep. So, can you discuss your theory of what you’re, doing and other things in terms of whether it advances equal opportunity and social solidarity? Tell them what you think is going to happen and what other kinds of when your opening remarks? You just said technology’s, going to be active in this way in other areas of the economy.
What do you think the next big opportunities are, but first they tell them just in two sentences. What you’re doing, because Jack and I know, and we haven’t been clear enough, explain it and explain how you think that advances social solidarity and equality of opportunity.
Our work is in the belief that access to health information is a basic human right and that lab information, particularly because lab data drives 70 % of clinical decisions. I’m, needs to be accessible to people before they’re sick.
So if you look at the word diagnosed in the dictionary today, it says to determine the presence of disease from symptoms, which means, by definition, we’re, determining that people are sick once a disease has already progressed and our work is in being able To make lab testing accessible to people in time for therapy to be effected, and to do that in a way in which every person, irrespective of their insurance status, irrespective of where they live, can afford the ability to get a test done.
So that means, in our case we ‘ Ve invested the last 12 years in now developing hundreds of tests, many of which are less than ten dollars so in two dollar tests in the United States – and I think one of the amazing things about this country is that we have such an incredible ecosystem for Fueling creativity and that creativity can create new markets.
So, in answer to your question about the market being able to conform itself to social good, I think the creativity that goes into creating news new technologies creates new markets in and of themselves and and our basic belief.
That is that those new markets come from empowering individuals and in franchising individuals and trusting that individuals have the capability to engage with information and in accessing that information, beginning to take control of their own outcomes and their own health outcomes.
And in doing so changing the way our healthcare system works, think what this could mean for rural China. You know for rural India, for Native American reservations in America for the Mississippi Delta, for the remote areas of where all the jobs were lost from culture.
All of a sudden giving people information and one of the most important things I think we did my second term as president and healthcare front – was developed as diabetes, self-care program and all of a sudden you could be Jack’s.
Company could be delivering the means to self-care. Based on your test, I mean, I think that this is really. This is a very big deal. We all want to live as long and as well as we can and Gregg Benner was here.
We were joking about whether we’d, make it to a hundred, but in the meanwhile you want to keep people healthy and if they’re sick. You want to intervene early, not late well, and if you look at I mean the ability to engage with this information.
We have a four trillion dollar health care problem in this country. 20 % of it is type 2 diabetes which is reversible, and we have 90 million Americans who do not know they are pre-diabetic. But access to information and the ability to engage with that information is the foundation for being able to change those outcomes and and cost one more factor than I want to call it Jack.
You founded this company twelve years ago, right tell them how old we were. I was 19, so [, Music, ] don’t worry about the future. We’re in good hands. Okay, I always think of a noble 19:1 at where I am 19.
I’m, not the past examination for university. Yet I filled a three times, but I figure we’re done yeah. I’m, not a good as schooling. Well yeah, that’s. Why? I give confidence to a lot of young people in China.
If Jackie Markham’s, success can be successful. 80 % of the people can be successful. People like her with jealous well equality. I I would like to make a little bit cut technologies, helping because yesterday I was joining the United UN Women conference about gender equality and I think the first, a technology revolution happened 200 years ago in the UK released the human body they’re.
Armed stronger, the second technology revolution in the USA for energy, you can last long, but this technology of revolution relief release the brain. So this century is not a competition who is strong, whose muscles are stronger.
This, who is a smarter? Who is soft? Who can listen? You it’s, the challenge of a wisdom, so men, women, equal on the Internet. You can never see he’s, a woman, a man and on the internet.