"When we started the e-commerce, nobody believed that China would have e-commerce because people believed in 'guang-shi,' face-to-face, and all kinds of network in traditional ways. There's no trust system in China."

Challenge, E-commerce, Trust, China, Innovation

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"When we started the e-commerce, nobody believed that China would have e-commerce because people believed in 'guang-shi,' face-to-face, and all kinds of network in traditional ways. There's no trust system in China."

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Explore more quotes by Jack Ma

"The world needs new leadership, but the new leadership is about working together."

Leadership

"When we started the e-commerce, nobody believed that China would have e-commerce because people believed in 'guang-shi,' face-to-face, and all kinds of network in traditional ways. There's no trust system in China."

Challenge

"In the beginning I just wanted to survive. For the first three years, we made zero revenue. I remember many times when I was trying to pay up, the restaurant owner would say, 'Your bill was paid.' And there would be a note saying, 'Mr. Ma, I'm your customer on the Alibaba platform. I made a lot of money, and I know you don't, so I paid the bill.'"

Entrepreneurship

"On privacy issues, it's just like hundreds of years ago when people said, 'I would rather put my money under my pillow than in a bank.' But today, banks know how to protect money much better than you do. Today, we may not have the answers to privacy issues, but I believe our young people will come up with the solutions."

Technology

"My job is making money, helping other people make money. I am spending money, trying to make sure more people get rich, because you cannot spend a lot of money, right? So my job is spending money, helping others. This is a headache."

Entrepreneurship

"As a company, we have to be very transparent. We are in a business very related to finance, and I want this company to last long, and I want this company to be audited by everyone."

Business Ethics

"Help young people. Help small guys. Because small guys will be big. Young people will have the seeds you bury in their minds, and when they grow up, they will change the world."

Mentorship

"I respect Apple. It's a great company that changed the world, especially the mobile time."

Business

"The more I come to know about the outside world's perception of China, the more I feel there are all sorts of misunderstandings, and to a certain extent, people do not get the full picture from the media. A lot of foreigners have few opportunities to visit China, and a lot of Chinese people do not have the chance to go to Europe or to the West."

Globalization

"The world is getting so small. Young people are mobile; they want to travel around the world. When you travel around the world, you exchange culture, you want to make friends, you want to exchange things."

Globalization