JACK MA, EXECUTIVE CHAIRMAN, ALIBABA GROUP: BUILDING A NEW SILK ROAD FOR THE DIGITAL ECONOMY
As part of the SPIEF 2016 programme ‘Conversations with the Extraordinary’, a meeting was held with Jack Ma, the founder of China’s biggest e-commerce firm Alibaba Group and the richest man in China. In 2014 his company surprised the world with the largest global IPO ever.
Jack Ma spoke about his company, business, and modern technologies, and he also shared useful advice disclosing the secrets of his success.
Jack Ma told the audience how Alibaba Group used the internet to unite companies, business structures, warehouses and logistic chains. He noted that in the modern world, it was very important to use new technology in projects. In particular, young people should be encouraged to use the Internet in their businesses.
Over the past two-three decades, every nine years there was a financial crisis. Problems happen more often nowadays. The world is changing, according to the speaker. He expects big changes ahead, and a new economic model to appear soon.
Jack Ma also elaborated on the Russian situation. Infrastructure for doing business and the logistics system in the country were in a deplorable condition, he said. Mr. Ma noted that there were many large companies in Russia, while to stabilize the economy it is necessary to develop small and medium-sized companies. This must be done because over the next 20–30 years, the world will face the problem of creating jobs for the middle class. And the bigger the middle class, the more stable the society.
The Chinese businessman also spoke about philanthropy. He said he did not treat his profits as his own money. He manages the money on behalf of the society, trying to do it in a reasonable and efficient manner. Mr. Ma invests money in education, healthcare and environment protection. At the same time, he prepares to retire because he does not want to work until old age, he is ready to give place to the young generation.
For entrepreneurs to be successful, they should deal with unique things, Jack Ma recommended, urging them to use technologies available outside their towns.
