Joe Tsai

And he's able to communicate, he's able to paint a very strong vision.

That was the part that I really signed on to, his ability to lead.

is an amazing ability.

And, you know, he's a teacher by training.

He taught at Zhejiang University.

He taught English, actually.

You know, teachers, in a way, make natural leaders because, A, you have to communicate well, and, B, you can identify talent.

I think a lot of teachers love to see their students and say, oh, this kid is going to do really well.

So they write a recommendation, they do whatever.

And also teachers have enough humility that they're willing, they're very happy if their students go off and then they come back and become more successful than they are.

And in building a company, you need to be able to accommodate all sorts of people that are smarter than you are.

And that's really important.

Alibaba has been around for 26 years I would say the first 15 years were it was a complete free market kind of you know way of growth and we built a lot of businesses organically and then

We went into a phase where there was extreme competition.

Everybody wanted to do e-commerce.

Why?

It's because if you have traffic online, e-commerce was the best way to monetize your traffic.

And today, in today's market, we have five or six very, very strong competitors, including the parent company of TikTok, ByteDance.

They're doing e-commerce.

They're not known as an e-commerce company, but they are one of our fiercest competitors.