Just wrapped up this engaging profile of Jack Ma / Alibaba by @duncanclark - it is a 2016 book and am a bit late to it:-).
Brief thread follows on what I found interesting in the book.
1/13
Brief thread follows on what I found interesting in the book.
1/13
Jack Ma's english language skills were a huge factor in his success. They were I think his superpower, helping the academically weakest Chinese founder (got into a Tier3 college on his 3rd try) get confidence and access to opportunities without a US / Tier 1 Chinese U edu.
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2/13
His english skills helped him be Yahoo founder Jerry Yang's official 'chaperone' in '97 (preAlibaba days - see pic of the trip) and be an interpreter to the West when China was opening up, and certainly helped sell his story better to investors & press etc.
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Why dont Indian towns have an english corner?
One may well argue that english language skills are far more life changing in India than in China.
4/13
One may well argue that english language skills are far more life changing in India than in China.
4/13
Jack Ma experienced the internet first at 30, on his 1st visit abroad. He started Alibaba, his 3rd startup, at 35.
Between his 2nd failed startup & Alibaba, he spent a year as a salaried employee.
From graduation in '88 to '93, he just taught.
Entrepreneurship isn't linear!
Between his 2nd failed startup & Alibaba, he spent a year as a salaried employee.
From graduation in '88 to '93, he just taught.
Entrepreneurship isn't linear!
Alibaba had 18 cofounders, including 6 women. That is a lot of cofounders! A lot of them were his colleagues from a previous startup ChinaPages (a precursor to Alibaba)
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6/13
Shirley Yin, then with Goldman Sachs, led the first investment into Alibaba. She led 2/3rds of the $5m first round (for 50%; how cruel!) of Alibaba. Sadly GS sold their stake for 7x returns in 2004 after she left the co. Their coinvestors saw ~40x returns when Alibaba IPOed.
7/
7/
On hiring at Alibaba.
'Always hire one or two levels below the top academic performers'.
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'Always hire one or two levels below the top academic performers'.
8/13
How Masa picked Alibaba!
'Go ahead'.
10/13
10/13
I thought this was an interesting insight. When a market is growing superfast, there is often no real advantage to being a market leader / incumbent. Incremental user share is what matters. Paytm is a great example.
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11/13
The SARS epidemic of '02 led to a boom in texting and ecommerce in China. It was, well, their Jio moment.
12/13
12/13
I am done!
For those keen to bone up on Alibaba / Chinese startup history, it is certainly worth a read. Breezily written, with lots of anecdotes, and not at all a panegyric to Ma.
13/13.
For those keen to bone up on Alibaba / Chinese startup history, it is certainly worth a read. Breezily written, with lots of anecdotes, and not at all a panegyric to Ma.
13/13.
