Alibaba Book Quotes

If you don’t give up, you still have a chance. Giving up is the Greatest Failure.

The very important thing you should have is patience.” – Jack Ma

Help young people. Help small guys. Because small guys will be big. Young people will have the seeds you bury in their minds, and when they grow up, they will change the world.” – Jack Ma

The same thing, notes Brynjolfsson, happened 120 years ago, in the Second Industrial Revolution, when electrification—the supernova of its day—was introduced. Old factories did not just have to be electrified to achieve the productivity boosts; they had to be redesigned, along with all business processes. It took thirty years for one generation of managers and workers to retire and for a new generation to emerge to get the full productivity benefits of that new power source. A December 2015 study by the McKinsey Global Institute on American industry found a “considerable gap between the most digitized sectors and the rest of the economy over time and [found] that despite a massive rush of adoption, most sectors have barely closed that gap over the past decade … Because the less digitized sectors are some of the largest in terms of GDP contribution and employment, we [found] that the US economy as a whole is only reaching 18 percent of its digital potential … The United States will need to adapt its institutions and training pathways to help workers acquire relevant skills and navigate this period of transition and churn.” The supernova is a new power source, and it will take some time for society to reconfigure itself to absorb its full potential. As that happens, I believe that Brynjolfsson will be proved right and we will start to see the benefits—a broad range of new discoveries around health, learning, urban planning, transportation, innovation, and commerce—that will drive growth. That debate is for economists, though, and beyond the scope of this book, but I will be eager to see how it plays out. What is absolutely clear right now is that while the supernova may not have made our economies measurably more productive yet, it is clearly making all forms of technology, and therefore individuals, companies, ideas, machines, and groups, more powerful—more able to shape the world around them in unprecedented ways with less effort than ever before. If you want to be a maker, a starter-upper, an inventor, or an innovator, this is your time. By leveraging the supernova you can do so much more now with so little. As Tom Goodwin, senior vice president of strategy and innovation at Havas Media, observed in a March 3, 2015, essay on TechCrunch.com: “Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. And Airbnb, the world’s largest accommodation provider, owns no real estate. Something interesting is happening.

You should learn from your competitor, but never copy. Copy and you die.

You need the right people with you, not the best people.” – Jack Ma

A leader should have higher grit and tenacity, and be able to endure what the employees can’t.” – Jack Ma

To quote Ma: “I am not good at math, have never studied management, and still cannot read accounting reports.

Never ever compete on prices, instead compete on services and innovation.” – Jack Ma

Alibaba took its IPO to investors in a roadshow, having priced the offering at between $60 and $66 a share. This could value the Chinese e-commerce firm at around $160 billion when it lists in New York, which is close to Amazon’s current market valuation. With reports that its order book is already full, Alibaba is likely to raise $20 billion or more on its stockmarket debut, and possibly be the most lucrative IPO ever.

My job is to help more people have jobs.” –

A platform is a raised, level surface on which people or things can stand. A platform business works in just that way: it allows users—producers and consumers of goods, services, and content— to create, communicate, and consume value through the platform. Amazon, Apple’s App Store, eBay, Airbnb, Facebook, LinkedIn, Pay- Pal, YouTube, Uber, Wikipedia, Instagram, etsy, Twitter, Snapchat, Hotel Tonight, Salesforce, Kickstarter, and Alibaba are all platform businesses. While these businesses have done many impressive things, the most relevant to us is that they have created an oppor- tunity for anyone, even those with limited means, to share their thoughts, ideas, creativity, and creations with millions of people at a low cost. Today, if you create a product or have an idea, you can sell that product or share that idea with a substantial audience quickly and cost-effectively through these platforms. Not only that, but the platforms arguably give more power to individuals than corporations since they’re so efficient at identifying ulterior motives or lack of authenticity. The communities on these platforms, many of whom are millennials, know when they’re being sold to rather than shared with, and quickly eliminate those users from their con- sciousness (a/k/a their social media feeds). Now, smaller organizations and less prosperous individuals are able to sell to or share their products, services, or content with more targeted demographics of people. That’s exactly what the modern consumer desires: a more personalized, connected experience. For example, a Brooklyn handbag designer can sell her handbags to a select group of customers through one of the multitude of fashion or shopping platforms and create an ongoing dialogue with her audience through a communication platform such as Instagram. Or an independent filmmaker from Los Angeles can create a short film using a GoPro and the editing software on their Mac and then instantly share it with countless people through one of a dozen video platforms and get direct feedback. Or an author can write a book and sell it directly from his or her website and social channels to anyone who’s excited about it. The reaction to standardization and globalization has been enabled by these platforms. Customers can get what they want, from whomever they want, whenever they want it. It’s a revised and personalized version of globalization that allows us to maintain and enhance the cultural connections that create the meaning we crave in our lives.

You work at Alibaba, so you’re using your AI to better understand consumer behavior. Like what a consumer is looking for, what are they buying—if they buy x, then they are more likely to also buy y and z, so you can build a microtargeted ad to get a product in front of them. Right?” Hank inquired. Dan nodded. “Yes. We learned a lot of this from how Amazon built their system. For instance, when Google AdSense first came out, Amazon was the largest consumer of keyword marketing. Eventually, once Amazon had built a large enough platform, they were able to start doing that themselves. At Alibaba, we replicated that system. I suppose the only real difference between our two companies is we have access to a much larger demographic of users and consumers given China’s population.” Hank explained, “The Met want my help in creating a predictive behavior analysis program. They want me to build a program that will allow them to identify people who may be about to commit a crime. This way they can move officers to intercede or be there when it happens. One, I’m not sure it’s totally possible to create something like that, and two, I’m not sure we want to create a society where we have AIs anticipating our actions before we take them.