Jack Ma: Love is Important In Business | Davos 2018

scared of in the next 30 years yeah we people are very lucky because we are in the area that the world is in a very big transformation because of the chip technology I think we read a lot on the books that 200 years ago when the first industry have a lot of great people and then a hundred years ago low electricity revolution camp a lot of success people so now the technology count this new technology will also create a lot of successful people interesting careers but honestly every technology craft gross income is going to create a lot of social problems and my view is the first a technology revolution cause the first world war ii technology revolution red cause the second world war now we under third so what what it's gonna happening people worry about artificial intelligence people worry about robots people worry about a computer and datas and privacy and securities people start to worry but whether you're worried it will come you don't worry it comes so the thing is how you change yourself so I I think next to 30 years the world is going to be huge a change if there's a third world war I think the world whoa should be a wall against the disease a wall against environment pollution a war against the poverty together we should not a war against ourselves but if we do not see clearly that using the new technology to solve this problem if we do not unite align together human being gonna fight each other because every technology revolution will make the world imbalanced when something unbalanced coming somebody used to be number one suddenly began number two and somebody was number three and then become number one it's all about comfortable so we people if you're 30 years old my my view is that if when you have 22 thirty years old you should have follow a good boss doing a good company to learn how to do things properly when you're 30 to 40 years old if you want to do something yourself just do it you're sticking afford to lose to fail but when you're 40 to 50 years old my suggestion is that you should do things that you are good at right and not do things that oh that's very interesting I want to try something new it's be dangerous more when you're 50 to 60 years old spending time training and developing young people the next generation when you see over 60 years old better stay with your grandchildren mm-hmm but this is normally general like that not everybody like but most of the people were looked at so 30 years old we people next to 30 years are the luckiest appearing we're a lot of challenges a lot of things that's happening and with our knowledge with our physical power it's time you need to change you have to think we oh if you want to be successful tomorrow it's impossible if you want to be successful a year later it's impossible but if you want to win ten years later you have chance that is what I think wonderful and moving on to a topic which is kind of impossible to ignore after 2017 so I thought of all the people in leadership positions in Alibaba are women but the picture elsewhere is is a bit more bleak and a friend of mine recently said something that has really stayed with me women are tired of empowerment programs and we want power in 2016 venture capitalists invested fifty eight point two billion dollars in male founded companies while women received just one point four six billion and as 2017 showed it was a year of sexual harassment scandals the gender pay gap still exists and unfortunately the list does go on so how do you think we can move beyond tokenistic gestures towards genuine gender equality yeah that is very interesting a few years are like four years ago there is journalist came to our company and when he leaves he asking me pushing why there are so many women your company and I never realized we have so many women in our company I said anything wrong today we have a 49% close 49% of the employees of our company are women that's a lot for a high-tech company it's not on purpose to a high woman we think they are great in helping us to grow Alibaba is an e-commerce company ecommerce is a service industry to serve people better you have that you should have a surf hop service part we find that women doing much better jobs than men and the second is the last century people compete become muscle no not this century is not much as the wisdom and next is I believe if a person want to be successful we should have a high EQ but if you don't want to lose quickly you should have a high IQ but if you want to be respected you should have have high lq the queue of love so those three queues put together a lot of men they have a high IQ below EQ and a very tiny lq women balance wise they're the best if you want your company to be successful if you want your company to operate with wisdom with care wonder is the best in my company we noticed that women they care others much more than men even our site today our shopping site ecommerce we found a woman buy a lot of things but they buy for their husband their parents their kids may only buy for themselves mostly because you care that make you the difference so we have a 49% of the the colleagues in the company of women and clothes 37% of the senior management of women we never feel anything wrong and women they they they sacrifice more like when they they love it they believe it they continue to do it so I think the very one of the secret sauce for Alibaba to be successful was successful in the past 18 years because we have so many women colleagues and the other thing is that with you so proud and you know most of the time you see I go out I never realized that when we can't always 50 percent of women with my delegation my team because we never think their women do we think they're great colleagues though if you try to say now we've got a too many man's and we do have to put some women inside oh that's a disaster for both side so what would your advice be to companies that operate a little bit more on that quote of a system but seem to be not making progress or not having such kind of representation when you have a porter base to have you must have a lot of women you would never reach that I think I'm if a company for a man trust me this company cannot be sustainable cannot keep on growing because just like a do if you don't put what inside this do is too tough is easy to break so when you have a woman amending in the same company when something happened the women are the for example one of the valley for our company is that the number one value is custom number one being pride number to share her number three this is everywhere I go Wall Street did not like my point but this is what I said you know if you if you if you like us investing us if you don't like us please sell our stocks don't buy us we believe custom number one in pride number two Cheryl number three but we're messed up when we start to compete man suddenly get very angry and you know this stuff and women always come on no competition let's think about customer number one most of the women they believe in the first date dream of first-day love most of the man easy to forget I'm sorry it's do not say bad about man this is this is statistic this is why our company work the balance and it's it's naturally happening it's not like a week so a lot of people have a tendency man is better in doing things but we don't we think that even if man is a better we still have to hide a woman inside and then the women have enough women women will hire people more so this is how we did it so I don't know how many high tech companies in the world like us 49 percent colleagues are women who feel proud of that house you should be and I think it's a very strong message to send out to like I say other companies that have a range of reasons for why that's why that's not the case but clearly you've been able to build the most successful one with with that being with that being so so you just came off stage after giving a talk about digital ecommerce and what needs to happen for small businesses and entrepreneurs to benefit from globalization at a time when globalization once again is being questioned is it really delivering for the most vulnerable is it delivering for people in the global south etc so what is your message to people in this room kind of about globalization really I think globalization cannot be stopped nobody can stop globalization nobody can stop trade and I believe if trade stops warst US trade is the way to solve the to dissolve the war not to cause the walls I think globalization did a fantastic jobs in the past of 30 years in rich lot of countries but of course caused a lot of problems right young people did not have opportunities small business have done opportunities develop developing countries were neglected but it's only 30 years it's a baby it's a girl you have to improve it if you do not improve it then you kill it's easy most of the time the kill something is much easy so my beliefs it's our generations job today we have a better technology we'll have a better knowledge about globalization and it's our generations responsibility or opportunity to improve it tell me how can you stop globalization now after fish intelligence come robots come my grandfather worked 16 hours a day and he said he was very busy we work 8 hours a day we said we are very busy our children may only work three hours of 4 hours a day for 3 days a week I bet they would say oh we're very busy then when you work on this three hours a day and four days a week we're gonna do you got to travel around right you cannot stay in the home for a week you would travel 30 years ago normal life you visit 20 to 30 cities for your life 30 years later in your life you have visited 300 cities in your life because of mobile how can you stop it it's impossible so thinking about that the only thing is to improve it to make it simple global trade should be simple should be modernized should giving inclusive everybody have the opportunity so my strong message is that well I feel sorry for WTO they did great job but in the past 20 years when you put a 200 government and ministers in a one room how can they agree on something right because I don't like your country no matter how good suggestion you have I said no but business people even if we put 200 business people in the one room we will surely agree on something and this is what I believe the next generation of globalization should be inclusive should create opportunities for young people to get involved the first globalization in a human history was controlled by few kings and emperors last 30 years globalization was controlled by 60,000 big companies if you're not amount of big companies if you're not in the big powerful countries you don't have chance the next 30 years I bet we will be we will have 6 million or 16 million or 16 minute companies get involved the globalization and I'm sure we will make it happen together with a lot of people maybe book view with the mobile phone if people still using mobile phones 30 years later with a mobile phone you can global by you want to buy something from Kenya you just click you want to buy something from Norway you click global by global cell if you're small thing without internet you can only sell in your village or small town today you can sell across the world and global pay global delivery and girl will travel the only thing you have to bring is a mobile phone nope not even Passport this is going to happen in 10 years and this is the message let's catch this opportunity if you complain the other people catch it if you catch the opportunity in bracelet now you will be the next Alibaba people like me I was born in a very poor family I never got a great education I filled all the examinations for what reason I don't know but later I realize I don't have money I don't have technology I don't have a lot of good backgrounds where we have a rich uncle or something no they only that competed with my people then if young people is less competed for ten years later this is what I believe ten years later will be happening so everything I do for that goal I know ten years later this thing is going to happen so prepare for that because I know if I compete with him for next mouse no chance so this is how my message it's up it's a challenge but it's opportunity and it's the opportunity for people like us this world the most difficult of thing is to convincing a successful people ah wait tell him this is a great opportunity to nananananana forget it right I've been doing this for 30 years but for people like us we're looking for opportunities in order to survive so we will do anything to be creative so this is the message 30 years it's opportunity for us it's a challenge for those people who are 60 years old if they're 60 years old not discrimination but it is tough for them and maybe says something about how we need to look at government as well in terms of more young people entering and doing policymaking so if there are these six or 16 or 60 million businesses and we're all kind of hyper connected on a more fundamental level do you think consumption is making us happy consumption what do you mean consumption by making us happy Oh through through consuming are we becoming happier through being more connected is that genuinely yeah of course consumption were mega-resort consumption Utley we're not happy right but if their consumption may not be the thing is that for me people like me people say I jack you are very rich nobody don't have time to spend money and I know this money that does not belong to me when I have a one minute two minute it's my money but we have 20 minute problem comes you think the u.s. daughters who gets the valley or Ingrid pollen and the stock market is gonna problem when you're over 1 billion daughters that is the responsibility because the society trusted you can manage the money better if you think that is your money you'll get into trouble this is what I always believed that's the how can a person have a you know 2000 I make two billion dollars no matter how hard we hop harder your work you should not get to be an out 10 D billion the money people put on you it's the trust and credit you have so you should have spent a money better than government you should spend money better than the other people spending money on the right places so consumptions yes and I can service industry let me tell you one thing the AI robots is gonna kill a lot of jobs because in the future machine but there will be we have to create more than service industry service industry is going to have services got a lot about consumptions so doing the consumptions service industry has huge hope but you have to do uniquely I think from that slightly philosophical point we can turn to the floor for questions so if you if you could please introduce yourself say where you're from please keep your questions extinct so we can take as many as possible and relevant for the whole group great so would you like to go first hi my name is Parv I'm a global shaper from Chicago and you just talked about philanthropy and I'm curious if you could talk about how you see your role is changing in in the giving space particularly given the fractured world we live in yeah I think France uppity it's not about helping others is about helping yourself I had a huge debate with my colleagues several years ago there's a big earthquake in China and their births big earthquake in Japan so I thought we we donated like a I forgot they're exempt like a twenty thousand dollars to Japan ten fifteen dollars to China and people say why we donate that little because we are you know we have a lot of money and my point is no matter how much money you donate two minutes twenty minute that money compared to that that it's tiny you cannot change a lot of things there the thing you donate because you change yourself when you change the world is changing you have to change yourself right and the next thing is that philanthropy is about action it's about involvement it's not about giving money it's about a wakeup of people's consciousness so I think to me I grow up and my globalization is grew up in this place mm your 2001 when I was nominated as a young global leader I had no idea what his Davos where is that is it and what what is about a young global leader but I came here I learned I listen about these cooperative global citizenship and mobilization all things I grow up I understand this is to me it's like a France appeal this has changed to me because I talk shrub that every time I come to Davos I want to spend time with young people because I benefit from global young global leader early days when I listen to Bill Gates of Bill Clinton and George Soros these guys at that time we don't have that many people very poor facilities well very cold and would like it you know 30 minutes driving in a bus coming here and Hutchins but now how do you skew up but this is good you know this is this is a wit this is the this is the the tuition with paid for a grown up and now to me I think spending time with you man it for me and also I want to tell you my true experience after alpha P does not necessary use money so by charity you cannot change the world but if you have a France appear heart you can do a lot of things so I find this will unfortunately a lot of people have a business heart here making money but do things like a France opee what we should do is should be a France a big heart that have a business of skill I hate a lot of people do the opposite they want to make money but they talk like a France opee and they do like the France that we waste a lot of money so this is what I mean and it's if you want your team to continue to work with you or your life you have to plant the seed of care the world care others the first day they join I don't like a lot of companies make a lot of money because making pollutions and counterfeit products by end of the year donate some money this is no good business the philosophy idea should should be buried into the business model that's like my philanthropy apart I think the message that young people can take forward please hi my name is Iman I'm a global shaper from the Jeddah hub in Saudi Arabia my question is as a young boy did you envision that your life would be like this did you have intuition about this and if so do you think the belief helped in achieving such a great success as a young boy I never thought you know it's a young believe ever today I never thought I would be here honestly I never thought but as a young boy I probably when I look back every problems I met invite when I was a kid benefited me I filled so many times people probably know that I'm applying jobs for so many jobs over 30 jobs all rejected not even got a chance to the four of us an interview for a KFC job 23 accepted I was the only guy rejected six people went full of looking for a police job five except I was the only one my cousin I applied job as a as a server in a four style to my city we wait long queue for two hours he was accepted I really so my mother looked at me huh you know guess but I know this is a training course for me before my thirty years old I'm a failure of people lose by never give up I think there is opportunity there and then I I was a teacher later I bred from University I was teaching in the university for six years number five because number five year I was elected the best a teacher of my universe elected by students so I said everything I taught my students are the things I learned from books what if I go out spend a ten years experience all the things whether fail or succeed I'd go back to teach again that was my original thing in doing Alibaba so I never thought I could be rich I never thought it would be successful I never thought we could survive for eighteen years and then we made it the only thing that today we should do is share the experience and know-how especially share the mistakes suffers with others my thinking is that you guys remember if you want to be successful learn from the other people's mistakes don't learn from the successful stories successful stories they make don't listen to that there are a lot of reasons behind it just like God I remember the first time Harvard Business School came to us say J we want to write a case study for you yes years 2001 a 2000 became the spend one week and they write a report and I really I said this is not me and this is this is you as a no this is not us he said this is you so they make IV sign and the case study go up and they start to teaching lot of universities the next five years they invite to need to go to the case study and they always find a competitor of my company and F after every case that case study Ali Papa would die that company will succeed all the students are green and actually every five years all the competitive diverse to survive so how can you study this kind of a successful story learn from the mistakes the other people no matter how smart you are you will encounter these mistakes you learn from mistakes not because you will be able to avoid mistakes you were able to when these mistakes come they suffer comes you know how to deal with it how to face it I write the book I want to write if I if I want if I can't there's a re Bubber 1001 mistake this is the most tragic things that in my life in my life is not how much we achieved is how much we go through the tough days and mistakes and this is what you see if you step to think now would be good so if you're asking me when as a boy I never thought about that never that's going to use the back of the room finally white gel from Shanghai I know that you recently spend a hundred million a hundred billion RMB in deep tack research I just wonder how you think of the future of the attack and how that's going to influence humanity and creativity thank you I think technology as a company we invest a 100 billion I'm be which is like a hundred fifty right are 15 billion 15 billion US dollars all researching for the high-tech as a company I hope in the future we gain our profit because of a technology not because our size so we have to invest in technology but I don't like this convert there's a debate artificial intelligence threat the human beings I think artificial intelligence should support human beings the technology should always doing something to enable people instead of today disabled people well steam machine comes when car comes people hate it you know today we think car is good when that meant that the automobile went first was designed people especially this car this horseman right they destroyed every cars they can see so I would say people like us when we have the money we have the resources we have the young old excellent the young people we should spend money on the technology that enable people empower people make life better so this is what we want to invest and I think artificial intelligence no matter how apt efficient town is good human being in the future competed with the machine on knowledge you don't have chance computer is always going to be smart than you are when there's a car forget about a full run faster when there's a plane don't think you can fly like a when there's a computer you know computer is always smarter than you are they never forget they remember everything they never get angry they calculate faster but computer can never be as wise as a man what's the difference between smart and wisdom my view is a smart people see something the other people don't see a wise people see something he pretend he did not see it our smart people know what he want a wise people know what he doesn't want a wisdom the person with wisdom knows I don't only you know I don't want this then you know what do you want so I think this is the money we invest to support human beings not supporting Alibaba this lab is open to the whole world it's not supporting Alibaba at all wonderful so I hi I'm sad Noble shaper from this Lambeth huh I really want to know what you think about leadership is it something that comes from the heart when it comes to decision making as a leader or is it something that that you have to take you have to think through your mind as well or is it a bit of both like as a leader when you make decisions would you go with something that you really feel about from your heart or would you have tried to have a mix of your mind and your heart when you make decisions yeah I think you are it's a good question I've been thinking about that first it's a it's your nature instinct there must be have something that you different second is you need to training you should be trained through all the tough experience but still positive I found out some great leaders in the world they are always positive they never complained others and never complain and they they look at the things in a different view like normal people so I think people a my company they at the beginning they don't like me because I'll always think about 10 years five years and then after we working together for three or five years they find who you are right then we got the credit rating and as a CEO one of the jobs where everybody's happy you have to see the unhappy things when everybody's unhappy you have to see the happy things so leadership is nature but you have to have a train and learn and I got my leadership some aberrated in Davos I see so many well you know all the end to financing how many people here know about Ari paid Thank You Ari paced decision was made here I was thinking about Ali pay you know but I was not a dare to launch a leap it in China if you do financing without license you were being jailed at that time so I think I went to the banks can't help us do the e-commerce of transaction no no no no no banks would accept it so if there will be no a leap no financing the e-commerce to go nowhere so I was year 2004 I was here listen to a speech by two state leaders about leadership and this guy's leadership is about responsibility you believe it but don't be people don't believe it but if you think it's so critical you should pay any price to do it so that day changed my mind and a call back to my team say let's launch it within one month if somebody else go to the jail I go to the gym who would be the second we'll follow me if I go you continue and you got the job you go continue that was the code leadership determination and your 2004 I made a decision here I called back and now today the a leap a launched and it's so big over 800 million people today using a leap a bullet this is called wonderful shall we take one from a ydl to be to be fair any questions yeah please hello my name is Pablo from Costa Rica ygl and given your perspective of caring and being a trustee of all this what do you do for self care and also maybe within your company because earlier on often you can cut through sleep or other things in a silly way and you realize that if you plan for the long term one also has to take personal care be there mindfulness or prioritizing better and how are you doing this and how do you promote that in your company well I'm lucky that I have a eighteenth co-founders and most of them my students when we in my apartment I told them my dream I've met my vision and we're videotape funny thing is that when Alibaba launched her for the first day I said that's a videotape everything every important meetings that we joined together I said the purpose is that someday if we Phil would give the videos to the people to research why we film if we succeed give the videos to the other people so we have a lie almost the whole house of videotapes so the first videotape I say I speak for two hours and those guys look at me okay so that's what do you want to do I'll say yeah this is what I want to do we I was the first I know nothing about technology I know that nothing about management I know nothing but but the only thing is that you don't have to know a lot of things you have to find the people who are smarter you are my first away is always find people who knowledge on computer smart denying accounting Merlin for so many years I always try to find the people who smart than I am and when you find so many smart people my job is to making sure that smart people can work it together and then if smart people can work it together it's easier the vision do believe because if stupid people can working together easily smart people can never work together but people work it together easily they don't believe the vision the people who believe the vision but they don't work together so very important there is a finding smart people and my job is two things making sure they work together so the culture is important long-term Isha you should be ideal it was great strong vision leader but you should also have to survive today if you don't survive today you got so the best way to promote your company is not to you it's not me as the CEO of the best ways your product your services your employees the best investor product of your company is your employee so I spent a lot of time 30 days for the first 2,000 employees of Alibaba I speak everybody for for one or two hours Wendi joining I said I will never promise you would be rich I never promised you would be promoted but I promise you suffer I promise you will have a terrible life right although all the terrible things I promise you enjoying this company right but good things if you promise good things you are misleading them because I cannot promise myself we we know this is the future but we not we are not sure that we will be there but if we don't work together we all will lose our job and they do always say and I think I've experienced this myself if you knew how hard it would be would you would you do it and it seems for you a key part of leadership is leaving the ego at the door and being willing to hire people better than you who you can then kind of empower to carry out your your vision wonderful yep hi I'm Aiman from global shipper Chikara hub how does your experience of pick a teacher influence how you run the business okay and do you have any message for those who are working in education space thank you how does your experience of being a teacher in early days Oh influence how you run the business oh yeah let me tell you one thing I never thought I could be a CEO I never thought I later I become a good CEO one of the thing I learned from teachers as a teacher very important a character of a teacher is the teacher always expect his students better I want this student to become a banker that's to become a mayor they're gonna it's a scientist this is all teachers want if you don't have this kind of thinking it's a it's a louse loop it's a terrible teacher a good teacher always want the other people better you don't want this teacher in jail that teaches a backrub that that teacher is so you know you know so as a CEO I trained myself is I always want those people join the company do better than they thought and everything the company should do is making sure the good environment to training him to be more positive and everything we do this is a teacher and teacher does not mean I know better than you are everything I know better than you are because I learn from others so a teacher should learn all the time a teacher should I share all the time a teacher should always expect the other people better than you are and by the way education it's a good big challenge now if we do not change the way we teach 30 years later we'll be trouble because the way we teach then the thing we talk teach our kids are the things past 200 is knowledge based and we cannot teach our kids to compete with machine who is smarter we have to teach something unique that is machine can never catch up with us in this way 30 years later our kids have the chance I hope I ask your question it's a very difficult one to answer but what are those skills that you think we need to we need to teach if it's we're moving away from knowledge what are the key things value believing independent thinking teamwork care for others these are the soft part the knowledge may not teach you that mmm that's why I think we should teach our kids sports entertain the painting art to making sure humans should be different from everything we teach should be different from machine if the machine can do better you have to think about hi this is Hashem and Moussaoui from Manama Bahrain talking about education and the fourth Industrial Revolution we have been talking about people losing their jobs or they are not qualified enough with the skills needed what are you doing for the people within your company to get up to date to get continuous learning to get to know what's the technologies needed for the future thank you okay luckily I don't have to do a lot of these kind of things in my company because we are fighting every day for the future we know if we do not work hard Facebook or Google and Amazon all these got to do better right so this is why we are globalized it's a competition globalized but we know that's not talked it's not about technology competition all the people today not like eighteen founders we only have a two and a half people engineers today we have more than twenty-five thousand engineers they are all smart people they do much better job than the 18 years ago but the only thing I wanted making sure that these people have a friend to be heart because the data we have the technology we have if they do not have a great hardening set we are going to make disaster for the world Google Facebook Amazon Alibaba these companies we are the luckiest company of this century and we have to run if we're lucky we have the responsibility that we should have a good heart to do something good but on the other thing I want to say is bad that making sure that everything you do is for the future for example you know about a single estate single stay shopping day November 11 is the day we created last year that they were certain 25 billion u.s. dollars for one day and for the first a minute over 70 to 80 million people rush inside to shop on the mobile phone so you have to making sure the system is good enough we have to finish we have finish 270,000 transactions per second can't you mention that toilet 17000 the transactions per second if we do not have that kind of computing capability the whole system will crash because we have several hundred minute people waiting to pay the money so this technology we know why we do this for crazy for one day because we want to test the technology this technology should be inclusive because we know today in China from weak rate probably like a hundred minute package delivery we believe a date five years later the whole world would deliver one billion packages per day think about what's the technology are we ready for that so the singular stay is to testing this technology and and to be inclusive so making sure the market drive done not the boss drive them thank you very thank you jack Azusa Parra from Mexico from the monetary hub global shaper we have been talking a lot about dollar generation and I really like the conversation about three to four three years after actually I have been hearing these days that we haven't had this know in thirty years here so the question is going to a quote of Professor Schwab he said a couple of months ago to the global shapers that were the first generation that is going to software about climate change and we are the last one that can do something about it so with your teaching by teaching passion what are the three things that we are saying to educate the term mailing employees or the Hana Miller employees whatever who's looking at this video to develop an environmental mindset spiritual mindset and non fragmented world mindset okay first let me say this every disasters the environment disasters as a reflect of human heart day because when we need it too much we destroy a lot of things I think the human being today we the past 200 years because of knowledge-based technology Oh knowledge-based the training system all we want to do is get more we want more things we go to the moon we go to Mars we go this we always also looking we human being never inside looking if you don't have the inside looking you will never be wise if you're not wise you never know what do you don't want today human being get much more than they expect they should have so the environmental pollution the whole thing happening is because human being become greedy become arrogant so this is why the big data the data technology is try to understand a the inside of human what is that data is the human behavior a lot of people trust me the machine will know you better than you know your have you seen some movies some gamblers you know they're there they're great they look at the eyes you if you got a good car this I believe but none of people don't see that the machine see all the details machine know you better so what I would say is that in a data period human be next to 100 years people human will not try to understand things inward-looking we will see a lot of uglies of ugly things of ourselves where knowledge based art were looking you see the ugly things of the others and good things when loadings are working this is Chinese philosophy Chinese people our believing is always inside watching we're supposed to do have inside to check in every three times three times a day but not not really if you can really do that you can do that then you'll be good so for environment you're right if we do not make action take action all the money you make was spent in the hospital medicine our kids were being big trouble so let's fix it and fix first fix our heart fix our know-how and fix our belief when you have a belief wherever religion where you have a valley it's better so I think this is what I concern to me this is what I think the young people should always have the valley the mission if you have something you believe in your heart that would be different this is what next two thirty years education will focus on we have time for one last brief question Karina Thank You this is Karuna from the port wassup mauritius and my question is you talked about your workplace culture I'd like to have one or two examples if possible of how do you motivate your employees and I'd like to throw in the last question is how much do you sleep ok this is such a controversial topic and I keep hearing different versions thank you what about keeping the different Russians CEO sleep on the three to four hours and where's ever heard like you know you need at least eight hours so yeah I'm a bit divided and and I'd love to know your secret thank you yeah how do i emotive i incentive or x are colleagues you have to find the people became mobilize themselves it's impossible to find to to encourage an active person so the people your high that people work together they they have to be oh you cannot we have a 65 thousand in price now you cannot high all of them that positive but at least the people work with me my management leadership several areas they have to be positive they have to know the incentive the others because i cannot be incentive everybody and making sure the culture so i think it would be very painful for me to talk to my vice president and he need to be incentivized and mobilized every time right this is gonna work if he is not if he does not know how to incentivize or mobilize his people it's better i don't think he will be the vice president they should be a good engineer good designer but not a good leader a good leader should know how but not by only money most of people incentivized or move on not because you give them a lot of money you give the spent just appreciation and correct heartful advice when it come to my meetings internal meetings you'll be shocked because we we're not like a lot of the other Chinese company the boss say and listen take notes and go down we are like a war room we make decision based on whose voice is louder early days you know we fight it a talk and then making sure everybody speak up so this is also a way of mobile life and incentive there are a lot of ways and different people have a different way to send incentive so this how much time I sleep yeah I have a problem I mean I don't I sleep not very shot but not good and I don't eat a lot this is something that I was cursed I don't eat a lot I'm a very pickle on the food and I don't know sometimes I would love to see what the things that make me work like that but for sure that if I suddenly give me one man's vocation I'll collapse it's I think there'll be something in my heart maybe the mission at the beginning of mission of eighteen people today we have 65,000 people they all believe the mission so if I give up I can give up in my position but I should not give up the mission if I give up everybody say hey no so and then especially today Alibaba at this size people continue to say for this size the growth rate will be tiny or down so what's the 1020 years Alibaba will look like if you want to be stupid greater or triple our size what's what what the direction how to do it so I spend lot of time thinking a lot of time thinking and I love to think good thing is I have a good team now I think I do the talk they do the work yes on that note I think I'm sorry we didn't

Channel: World Economic Forum

Views: 932,622

Rating: 4.8427711 out of 5

Keywords: World Economic Forum, Davos, WEF2018, Davos 2018, politics, finance, economy, news, leadership, democracy, education, 4IR, technology, tech, AI, automation, work, future, webcast, Jack Ma, Alibaba, eCommerce, Internet, world news, economist, world, forum, economic, world news today, worldeconomicforum, Switzerland, external affairs minister, recommended for you, globalization, robotics, bloomberg, documentary

Id: 4zzVjonyHcQ

Length: 55min 39sec (3339 seconds)

Published: Wed Jan 24 2018

Reddit Comments

[u/_h16]

270K tx/s is a hard goal, but a very reachable one in a reasonable future. Definitely worth trying anyway.

[u/ILoveBitcoinCash]

Things to remember: This video (watch it) is not really about Bitcoin or Bitcoin Cash, but about Alibaba and its outlook.

China is unlikely to deregulate from prohibiting Bitcoin or other global public blockchains for national commerce in the near future. They will first try their national cryptos, so will others.

So if Bitcoin (Cash) picks up commercial volume in China, it will be unsanctioned.

We don't have to worry about a "Singles Day" event for quite some time.

And we should not forget that on-chain will not be the only way. There will be other blockchains, there will be off-chain payments, there will still be centralized systems with us for quite a few years.

Mentioning this only because the Alipay load may be brought up as an example of how on-chain scaling looks hopeless and infeasible. It is not :-)

Also, Bitcoin (Cash) would not crash if demand exceeds capacity, it would just require a larger mempool and have steeply rising fees and backlog. This has been demonstrated by BTC.

Sort of like the prices at retailers going up automatically if their systems were overloaded. Now I'm wondering if someone's actually done that before to drive down consumer demand real time.

[u/bloody_brains]

Jack Ma makes a number of important points regarding technological development and the need for fast and efficient solutions to survive market competition. The statement in the title and points related to it begin around the 46 minute mark.

[u/hungry4donutz]

He said that he does not understand bitcoin on one of the interviews. Yeah, right!