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Sunday, September 26th, 2010

Jack Ma: Alibaba Will Be Bigger Than Microsoft & Walmart


There was a great interview of Jack Ma on Charlie Rose — Ma is the Founder and Chairman of the leading Chinese Internet company Alibaba.

Ma is clearly an evolved thinker. Here are some highlights:

An Internet CEO Does Not Need To Be Technical

  • Jack Ma doesn’t know how to code
  • He says he uses the Web primarily to send and receive email and browse the Web

The Core Competency of Alibaba is Culture

  • Grew from 18 to 20,000 people. We believe the customer is #1, employee #2 and shareholders #3
  • Average age of employees is 26
  • “It’s the customer that pays us the money.”
  • “It’s the employee who drives the innovation.”
  • Shareholders come and go (I’m paraphrasing).

What Types of Customers Does Alibaba Target?

  • Focus is small and medium-sized businesses.

“I’ve seen people make a fortune catching shrimps (small customers) but never make a fortune catching sharks and whales (big customers).”

  • Has 2 Million Small & Medium Sized Businesses In The U.S. Already

What Ideas Excite Jack Ma

“To be a great company, think about what social problem you can solve.”
“Anything happening in the USA will happen in China (cloud computing, mobile).”

Should US Businesses Be Excited About China Market?

  • USA should be optimistic about China market…1.3 billion people…huge demand.
  • This should continue for another 20 oe 30 years at least

How Big Can Alibaba Get?

“We should surpass Microsoft and Walmart (in size)”

“I would regret if we can’t be bigger than Walmart”…because Taobao and Alibaba goes after both businesses and consumers (while Walmart sold only to consumers).

On What Do Do With Wealth Creation

“I’ve never thought the money I have belongs to me…it belongs to society.”

“You have a couple of million you’re a rich guy” (I think he’s saying that you don’t need any more than that for yourself)

“You have $20 to 30 million  it’s capital” (presumably for a business)

“You have $100 million, it’s a social responsibility.” (i.e. you should give it back)

He certainly speaks like a true leader.

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Saturday, February 20th, 2010

Wooden’s “7 Things to Do” (To Succeed in Life)


I was captivated by John Wooden’s childhood stories, especially what his Dad taught him.

In Wooden: A Lifetime of Observations & Reflections On & Off The Court by John Wooden with Steve Jamison, Wooden says his dad gave him a piece of paper with a list of things that would guide him for the rest of his life.

He would use this guidance to shape his career, marriage and general philosophy.

The list was titled: “Seven Things to Do.” And when Wooden’s dad handed it to him, he said, “Son, try to live up these things.”

Here are Wooden’s Seven Things to Do (with short comments from me after each):

Seven Things to Do

1. Be True To Yourself

At the end of the day, there is no one whose opinion matters more than your own…so be true to yourself.

And Wooden warns you not to get caught up in how you size up to others:

“Don’t compare. Don’t try to be better than someone else. But whatever you’re doing, try to be the best you can be…”

Keys to being true to yourself include:

  • Be self-aware
  • Understand your values
  • Be honest with yourself

2. Help Others

The old saying: “Give and you shall receive” is a powerful one.

While your motivation for helping others should not depend on others helping you back, it is surely true that you will receive back more help when you take a giving attitude.

Think of this: If we all practiced helping others, we all would be helped…and we surely all need help at some point in our lives!

3. Make Each Day Your Masterpiece

I love this one. A “masterpiece” of a day is of course different for all of us. As Wooden points out:

“Don’t measure yourself by what you have accomplished, but by what you should have accomplished with your ability.”

And he warns: “Never mistake activity for achievement.”

And Wooden echoes his #2 Thing to Do (Help Others) with this quote:

“You can’t live a perfect day without doing something for someone who will never be able to repay you.”

4. Drink deeply from good books (Wooden’s favorite is the Bible)

Wooden believes reading is a key to success (you may recall that my other hero Charlie Munger echoed the same sentiment when he said:

“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero.” (read here for more Charlie Munger quotes)

Wooden reads the bible regularly and has said that if there were just one book someone had to read, it would be to read a little bit of the bible every day.

5. Make friendship a fine art

Friendship and family (which I find Wooden uses interchangeably) are key to success in life, but they require some work.

Wooden has these tips on friendship:

Friendship comes from mutual esteem, respect, and devotion. A sincere liking for all,”

6. Build a shelter against a rainy day

Pretty self-explanatory…however, I don’t think Wooden means this literally.

A shelter could be physical, financial or emotional…family and friendship, afterall, are perhaps the most valuable shelter to be building in your life.

7. Pray for guidance and count and give thanks for your blessings every day

Wooden certainly believes in a higher power — here’s a video of Wooden reciting a relevant poem (Wooden loves to write poetry).

More John Wooden Videos:

To see more of Wooden, check out this cool talk by Wooden at the TED conference and a John Wooden profile on Charlie Rose (including interviews with Bill Walton and Bill Russel).

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