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i didn't have a rich father i tried it three times for university all failed i applied for harvard for 10 times all failed they don't want to see me for the last time i went to the teacher's college which was considered the third or fourth class of my city so i applied jobs for 30 times got rejected it was so difficult at that time i was so frustrated because i taught in the university my pay was ten dollars a month because i could not find a good job in 1994 discuss that i'm going to do something called internet and 23 of them
00:46
against it they say this is a stupid idea we have never heard about internet and you know nothing about computer and i never thought i was smart nobody believed that i could be successful because everybody say well this guy think differently thinker crazily you know they think about something never work [Music] i tried to borrow 3 000 u.
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dollars from the banks took me three months but i still cannot get it we talked to over 30 or 40 venture capitalists everybody said no forget it a lot of people said alibaba is a terrible model as i said i believe it i think this thing could be big if we keep on working i never thought it would be that big like today but i believe that something something is waiting for me there and i have to work hard to prove myself that was the tough experience so we gathered 50 000 us dollars from 18 founders we started for the first three years we
01:50
do not have even one dollar revenue from our business what's not easy you don't make any money you've got extraordinary claims and yet you make nothing that's internet yes but what's the point are you a millionaire no no do you want to be fun well i think i hope but why it keeps on going ahead going forward because i received lots of email of thanks from the customer they say this is such a great thing we cannot pay you but this thing helped us if you keep on helping us one day you will be successful and i
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believe this little by little we build up our business little by little we build up our ecosystem of the infrastructure and now after 16 years we have an alibaba group we have a tmall group we have a taobao group we have alipay and people that you are so smart how could you make a company like that [Music] bill gates warren buffet the jack welch larry page mark zuckerberg the difference between those people and other people they are always optimistic for the future they never complain they always try to solve the problems of the others when you're
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optimistic it's always opportunity people same here today jeff where is the opportunity i don't have a job i don't have this i don't have a debt the best assets you have is that you are young don't complain let the other people complain the opportunity always lies where people complain think about how you can make things different and then when you think about this start to do it i saw a lot of people young people have fantastic ideas every evening but in the morning they go to the office same again
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if you really want to be entrepreneurial you have to do the things before the other people do you have to wake up before the other people wake up you have to be more brave than the others when i was young i went to hangzhou west lake there's a hotel many foreign visitors visit there and i went there every morning five o'clock to practice my english the foreign visitors come i practice my english i don't know why at that time but i found everything the foreign visitors told me are so different from the things
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my parents told me my teacher told me and the newspaper i read so since then i think everything use my own brain use your own brain to think to everybody to any person tomorrow is new make the move make the action whether investors believe in this or not whether your friends believe it or not whether your parents believe it or not that's not important you believe it your team believe it and work day and night on this make enough mistakes you fall you stand up if you really want to work for yourself think about the others
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because only when the other people are successful when the other people are happy you'll be successful you will be happy don't worry about the money money follow the people people should follow the dreams if you have a dream just to go ahead
Summarize the following in 5 bullet points with timestamp if it's transcript.
- **Early Struggles and Failures (00:03)**: Jack Ma recounts his numerous rejections, including failures in university admissions and job applications. He faced significant challenges, including difficulty securing funding and initial rejections from venture capitalists.
- **Initial Resistance and Skepticism (00:46)**: Ma faced skepticism about the viability of the internet and his business ideas, with many dismissing his vision as unrealistic and his venture, Alibaba, as a terrible model.
- **Early Hardships and Perseverance (01:09)**: Despite early difficulties and a lack of revenue in the initial years, Ma and his team persevered, driven by positive feedback from customers and their belief in the potential of their business.
- **Success Through Optimism and Hard Work (03:18)**: Ma emphasizes the importance of optimism, problem-solving, and taking initiative. He highlights how successful people remain positive and proactive, using opportunities where others see complaints.
- **Personal Growth and Belief in Dreams (05:11)**: Ma advises embracing mistakes, working tirelessly, and focusing on the success and happiness of others. He stresses that money will follow if one remains committed to their dreams and vision.
