Jack Ma, the richest tech businessman of China, founder of Alibaba shared some interesting views on success, life, women and business. In an interview with Ramanan at World Economic Forum which is underway in Davos, Switzerland, Jack talked about the true realities of life, recipe of success in business and globalization.
Role of Women in Business:
One of the interesting revelation Jack made was about Women in business. In the interview, he said that there are almost 49% women employees in Alibaba. Jack has always been in big favour of having majority of female staff in the business and has shared this particular view in his previous talks as well as seen in this video.
Order of Priority in Business:
Speaking about the priorities in the company, he lays down the hierarchy of priorities in the following order:
Importance of Trade, Globalization:
Jack emphasized on the importance of trade and impact of globalization on the international trade. He said, Trade is the only way to solve the problems and stop war and youth should be given equal opportunity in every country. He also expressed his views about the developing countries, how they have always been neglected for trade in the past.
Tell me how can you stop globalization? Asked Jack Ma.
Jack says, today we have a better technology and better knowledge about globalization. It’s our generation responsibility and also an opportunity to improve globalization. Artificial intelligence has changed things all over the world. He predicted that in the future, our work hours will reduce substantially.
My grand father used to work for 16 hours a day and he used to say I am very busy. We work 8 hours a day and say we are very busy. Our children may only work for 4 hours a day, 3 days a week and I bet they will also say we are very busy.
He also said that first globalization in human history was controlled by few kings and emperors where as in last 30 years, globalization was controlled by 60,000 big companies. In the next 30 years, we will have 60 million companies involved in globalization because of great evolution in the technology.
Speaking about the age and risks, Jack prioritized:
- When you are 20-30 — Follow a good boss and learn how to do things
- When you are 30-40 — Do something for yourself, you can’t afford to lose and fail
- When you are 40-50 — Only do the things you are good at, dont try something new, it’s too late
- When you are 50-60 — Train and develop others
- When you are 60+ — Spend time with your grand children
Jack also emphasized on learning from other people mistakes. He said it does not matter how smart you are but if you want to be successful, learn from other people’s mistakes.