Founders #32 Alibaba: The House That Jack Ma Built
Humble Beginnings
- Jack Ma founded Alibaba in a small apartment with 17 co-founders, including his wife.
- Their ambition was to build a company lasting 102 years, challenging Silicon Valley giants.
Alibaba's Iron Triangle
- Alibaba's success isn't solely based on Singles' Day but on its diverse portfolio.
- The "iron triangle" of e-commerce, logistics, and finance underpins its market dominance.
Internet as a Lifestyle
- The internet fills gaps left by China's limited retail infrastructure, making online shopping integral.
- This explains its popularity—it's a lifestyle, not just a way to shop.
What I learned from reading Alibaba: The House That Jack Ma Built by Duncan Clark.
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Crazy Jack (0:01)
The internet is filling the void created by state planning (6:59)
Jack has made a career out of being underestimated: “I am a very simple guy. I am not smart. I might have a smart face but I’ve got very stupid brains.” (20:35)
Jack’s early life / Discipline and Curiosity (24:43)
Jack Magic: “ Nobody saw the opportunity in this business. We didn’t make much money at first, but Jack persevered…I respect him tremendously for he has a a great ability to motivate people and he can invest things that seem hopeless with exciting possibility. He can make those around him get excited about life.” (40:00)
Jack’s first time on the Internet (47:06)
Another lucky break: Meeting Yahoo Founder Jerry Yang (55:45)
Making money from shrimp (57:02)
The worst deal he ever made (1:00:43)
Masayoshi Son: Founder of Softbank (1:04:45)
Be the last man standing (1:10:16)
Ebay vs Alibaba: A case study in what not to do (1:13:32)
Yahoo’s billion-dollar bet (1:23:00)
Jack’s unique reaction to the financial crisis (1:27:00)
Alipay’s ownership changes / One of the craziest stories I’ve read (1:33:12)
If I had another life, I would keep my company private (1:46:10)
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