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FoundersAugust 9, 2018
#32 Alibaba: The House That Jack Ma Built
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About This Episode
What I learned from reading Alibaba: The House That Jack Ma Built by Duncan Clark. --- Crazy Jack (0:01) The internet is filling the void created by state planning (6:59) Jack has made a career out of being underestimated: “I am a very simple guy. I am not smart. I might have a smart face but I’ve got very stupid brains.” (20:35) Jack’s early life / Discipline and Curiosity (24:43) Jack Magic: “ Nobody saw the opportunity in this business. We didn’t make much money at first, but Jack persevered…I respect him tremendously for he has a a great ability to motivate people and he can invest things that seem hopeless with exciting possibility. He can make those around him get excited about life.” (40:00) Jack’s first time on the Internet (47:06) Another lucky break: Meeting Yahoo Founder Jerry Yang (55:45) Making money from shrimp (57:02) The worst deal he ever made (1:00:43) Masayoshi Son: Founder of Softbank (1:04:45) Be the last man standing (1:10:16) Ebay vs Alibaba: A case study in what not to do (1:13:32) Yahoo’s billion-dollar bet (1:23:00) Jack’s unique reaction to the financial crisis (1:27:00) Alipay’s ownership changes / One of the craziest stories I’ve read (1:33:12) If I had another life, I would keep my company private (1:46:10) ---- Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast
Book Mentions
11 book mentions in this episode.
Jump to booksTip: Click “Mentioned at …” to copy a timestamp.
Tip: Click a cover image to open a book link.
Books Mentioned
Alibaba, the House that Jack Ma Built
Duncan Clark
“The book explores Jack Ma's past and personality to understand his unconventional methods and the success of Alibaba.”
Sentiment: Deep Dive
Trigger: Jack Ma's entrepreneurial journey
For: Entrepreneurs and business enthusiasts
Key quote: “In this book, we will explore his past and quirky personality to learn the method to his madness.”
The host mentions the book to provide a comprehensive understanding of Jack Ma's unconventional strategies and ambitions in building Alibaba. It serves as a guide to explore the intricacies of Alibaba's business model and Ma's unique personality traits that contributed to its success.
ASIN: B01AYLBVF2
Buy on AmazonClick the book cover image to open the affiliate link.
“The book tells the story of Jeff Bezos and his aggressive business strategies, including his approach to competing with diapers.com.”
Sentiment: Deep Dive
Trigger: e-commerce competition in China
For: Entrepreneurs and business strategists
Key quote: “your margin is my opportunity.”
The host mentions 'The Everything Store' to illustrate Jeff Bezos's aggressive business strategies in e-commerce, particularly how he undercuts competitors to gain market share. This example is used to highlight the competitive landscape of online grocery shopping in China compared to the United States.
ASIN: B00FJFJOLC
Buy on AmazonClick the book cover image to open the affiliate link.
“The podcast references Rockefeller's strategies in business, comparing them to Jeff Bezos' approach with Amazon.”
Sentiment: Deep Dive
Trigger: logistics strategies in e-commerce
For: Entrepreneurs and business strategists
Key quote: “If you remember the podcast on Rockefeller, Rockefeller had a lot of these strategies too, where he starts out, he gets a wedge into an industry, then he starts with oil refineries, then he starts to buy up his competition.”
The host mentions the book 'Rockefeller' to draw parallels between John D. Rockefeller's business strategies and Jeff Bezos' approach to Amazon's logistics. By referencing Rockefeller's methods of vertical integration and competition elimination, the host emphasizes the strategic maneuvers that both figures employ in their respective industries.
ASIN: N/A
Buy on AmazonClick the book cover image to open the affiliate link.
“You Bayo is mentioned as Alibaba's online mutual fund that stirred China's financial service industry into a frenzy.”
Sentiment: Deep Dive
Trigger: Alibaba's financial services
For: Business professionals and entrepreneurs interested in fintech innovations.
Key quote: “You Bayo had attracted over $93 billion from 80 million investors, more than the combined total accounts at all of all other money managers in China.”
The host discusses the impact of Alibaba's You Bayo on the financial services industry in China, highlighting its rapid growth and popularity among consumers. This book is mentioned to illustrate the innovative strategies employed by Alibaba and its founder, Jack Ma, in disrupting traditional banking practices.
ASIN: N/A
Buy on AmazonClick the book cover image to open the affiliate link.
“Jack Ma mentions that he loves the lead character of Forrest Gump because people think he is dumb, but he knows what he is doing.”
Sentiment: Passing Reference
Trigger: business inspiration from movies
For: Entrepreneurs and business enthusiasts
Key quote: “He found inspiration from his favorite movie, Forrest Gump, in which Gump makes a fortune from fishing shrimp after a storm.”
The host mentions 'Forrest Gump' as a source of inspiration for Jack, who draws parallels between Gump's shrimp business and his own entrepreneurial journey. This reference highlights how unconventional ideas can lead to success in business.
ASIN: 0307947394
Buy on AmazonClick the book cover image to open the affiliate link.
“Jack doesn't sugarcoat the challenges to his employees. One of his favorite messages to them is today's brutal. Tomorrow is more brutal, but the day after tomorrow is beautiful.”
Sentiment: Deep Dive
Trigger: Jack Ma and Alibaba
For: Individuals interested in entrepreneurship and the tech industry
Key quote: “In this book, we will explore his past and quirky personality to learn the method to his madness.”
The host mentions the book to provide a comprehensive understanding of Jack Ma's journey and the founding of Alibaba. It serves as a guide to explore his unique personality and ambitious vision for the company.
ASIN: N/A
Buy on AmazonClick the book cover image to open the affiliate link.
The Adventures of Tom Sawyer
Mark Twain
“Jack fell in love with the English language and literature, particularly reading Mark Twain's, the adventure of Tom Sawyer.”
Sentiment: Passing Reference
Trigger: love for literature
For: Readers interested in classic literature
Key quote: “Jack fell in love with the English language and literature, particularly reading Mark Twain's, the adventure of Tom Sawyer.”
The host briefly mentions Jack's affection for literature, highlighting his interest in Mark Twain's work. This reference serves to illustrate Jack's passion for reading and the impact of classic literature on his life.
ASIN: N/A
Buy on AmazonClick the book cover image to open the affiliate link.
Life
Lu Yao
“Jack found inspiration in the book Life written by the Chinese author Lu Yao. The book relates the story of Gao Jilan, a talented man living in a village who struggles but ultimately fails to escape poverty.”
Sentiment: Deep Dive
Trigger: Jack Ma's ambitions
For: Entrepreneurs and business enthusiasts
Key quote: “In this book, we will explore his past and quirky personality to learn the method to his madness.”
The host mentions the book 'Life' to explore Jack Ma's unique personality and unconventional strategies that contributed to Alibaba's success. This book serves as a guide to understanding the motivations and methods behind Ma's ambitious vision for his company.
ASIN: N/A
Buy on AmazonClick the book cover image to open the affiliate link.
“Jack reveled in the attention he received at Harvard, including the moniker Crazy Jack that Time Magazine gave him shortly after.”
Sentiment: Deep Dive
Trigger: Jack Ma's entrepreneurial journey
For: Entrepreneurs and business enthusiasts
Key quote: “Jack's ambition then, as it remains today, was breathtaking.”
The host mentions 'Crazy Jack' to highlight Jack Ma's unconventional approach and ambitious vision for Alibaba. This book serves as a guide to understanding Ma's unique personality and the early challenges faced by the company.
ASIN: 0385326270
Buy on AmazonClick the book cover image to open the affiliate link.
“The theme throughout the entire book about the difficulty of operating a business in China and how you have this much stronger central government than you would see in the United States or the West.”
Sentiment: Deep Dive
Trigger: Jack Ma and Alibaba
For: Entrepreneurs and business enthusiasts
Key quote: “In this book, we will explore his past and quirky personality to learn the method to his madness.”
The host mentions the book 'Alibaba' to provide insight into Jack Ma's unconventional approach and ambitious vision for the company. The book serves as a guide to understanding the intricacies of Alibaba's business model and its impact on the internet landscape.
ASIN: B01AYLBVF2
Buy on AmazonClick the book cover image to open the affiliate link.
“There's a bunch of stories in the book about her and Jack just don't get along. But I don't, I'm not going to read any of that. If you want to learn more, obviously read the book.”
Sentiment: Deep Dive
Trigger: Jack's entrepreneurial journey
For: Aspiring entrepreneurs and business students
Key quote: “Here I was. I've been practicing for five years in the internet field, Jack recalled, everything changing very quickly.”
The host discusses Jack's early experiences and challenges in the internet industry, highlighting his encounter with Jerry Yang, co-founder of Yahoo. This meeting was pivotal in shaping Jack's future ventures and strategies in the rapidly evolving Chinese internet landscape.
ASIN: N/A
Buy on AmazonClick the book cover image to open the affiliate link.