At (video) 6:40 mins, Jack Ma said the success of Alibaba is as if aided by someone from “the sky” “成事在天”, even he the founder (together with his 17 students as co-founders) didn’t expect Alibaba to be so big today – will be the “5th Economy” in the world (after USA, China, Japan, EU) in the next 30 years.
Valuable Key Points To Take-away :
- Failures or Setbacks are the “Mother” of Success (失败乃成功之母) . He failed 3 times in”Gaokao” (高考 China Entrance Exams to universities), rejected 10 times by Harvard Business School, jobs in hotel and the only applicant rejected by McDonald’s due to his not-so-handsome appearance.
- Don’t have to be very smart, excellent academic credential, or very rich. Just have a will to succeed based on a strong vision, make many mistakes yet not discouraged but persevere.
- The graduates from top universities (北大, 清华, Harvard etc) should not look down on those from poor universities like he personally experienced the humiliation. The laters don’t have to feel inferior. The formers should not be hired by Alibaba or any big companies but go help the SMEs (Small & Medium Enterprises 中小企业) to grow.
- University Education Reform: past 100 years was “Knowledge Education” to students, next 100 years should be “Wisdom Education”, because Machine Learning with AI has ‘Big Data’ knowledge better than humans but not wisdom.
- Any great company which hopes to last more than 100 years must have a Mission and Value Creation. Alibaba’s Mission is to enable 2 billion people to buy, sell products anywhere in the world; and Create Jobs for young people, small businesses, women globally.
Jack Ma received the Honorary PhD from Israel Tel Aviv University.
- IT vs Data Technology (DT)
- IQ vs EQ vs LQ (Love Quotient)
- AI assists humans but will not replace us
- 1st & 2nd World Wars after last 2 Technology Revolutions; “IT 4.0” will lead to “3rd World War” – against Polutions, Energy, Diseases and Poverty.