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#32 Alibaba: The House That Jack Ma Built
Founders
Jack's Biggest Rival
Jack decided to focus on small businesses, inspired by the movie Forrest Gump. He formed a team of regular people to start Alibaba. Surprisingly, his biggest rival was not a new economy company but an old publisher of trade magazines. The rival company, Global Sources, generated huge profits from its offline business and was hesitant to go online. Goldman Sachs started an investment division in Asia, and this became the worst deal Jack ever made.
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