15 of the best quotes from Jack Ma’s interview at Davos


15 of the best quotes from Jack Ma’s interview at Davos

Alibaba founder and chairman Jack Ma returned to Davos today for the first time in years for a chat. Interviewed by CBS’s Charlie Rose, Ma – chatty and eminently quotable as ever – talked about his early days as an entrepreneur, the origins of Alibaba, and some more contemporary issues as well.

Here are 15 of his best quotes:

Ma returned to many of his favorite themes, such as how the marketplace model that Alibaba uses with its many estores can enable small companies and merchants to do business online. He expects ecommerce to be totally mainstream soon so that the word doesn’t need to be used.

This is how he described Alibaba’s record-breaking IPO in which the company raised about US$21.8 billion.


He talked about rejection and early failures with school tests and finding his first job – including one as a server at a branch of KFC in his hometown, Hangzhou:


Ma emphasized the early challenges of building trust in ecommerce, especially in China. “How can you do things online unless you trust?” he asked. He then illustrated that by saying…


He said that a government could never create ecommerce, but he still feels “responsibility” to educate the government about how ecommerce can benefit people. Despite that, he’s not too keen on being called upon by them.


On the topic of privacy and security, he said that Alibaba has not yet been in the position of handing over user data to the Chinese government. But Ma said he would cooperate if it related to national security, anti-terrorism, or a specific crime. Focusing on privacy, Ma added that he’s “fully confident” of a breakthrough in web privacy and security “in the next 10 to 15 years,” saying: “Today we may not have the solutions, we do not have the answers. But I believe our young people have the solutions.”


Then he launched into talking about Alibaba then and now, referencing the time that TIME magazine descibed him as crazy…




Rose then asked Ma about tai chi, the martial art that he practices. He used the art to draw a comparison with doing business.


Ma said that he started out trying to change the world but then later realized that it’s people who need to change so as to effect change.


Ma then delved into some stats, saying that 47 percent of Alibaba’s employees are women; 33 percent of management are women; and 24 percent of senior management are women. He explained that women think about others more, so they’re crucial to a good business.




Ma and Rose ended the chat on the subject of China’s slowing GDP growth. The double-digit growth has now given way to about seven percent expansion, and Chinese Prime Minister Li Keqiang recently embraced this by saying that China’s economy is entering a “new normal” of slower but healthier growth. Ma agreed that it’s more sustainable, particularly with regard China’s environment, hinting at environmental concerns he has expressed numerous times over the past few years.



The full session runs to 45 minutes. The embed code isn’t working well, so go check out the video here

Source by : https://www.techinasia.com/best-jack-ma-quotes-davos-interview/