Money & Power

"I Tried to Test the Speed of Philippine Internet. It's No Good" and Other Notable Quotes from Jack Ma at DLSU

These quips from the Alibaba founder resonated the most with the Facebook Live viewers.
IMAGE SCREENGRAB FROM DLSU LIVESTREAM
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The De La Salle University (DLSU) conferred an honorary doctorate degree in technopreneurship to Jack Ma (real name Ma Yun), founder and executive chairman of Chinese online e-commerce giant Alibaba Group, on Wednesday, October 25.

The world’s 23rd richest man and second richest in China also engaged in a dialogue with some of the students of the university, whom he fondly called “schoolmates” in his acceptance speech. He also answered questions from some of the country’s startup founders, such as Robbie Antonio and Nico Jose Nolledo, and entrepreneurship advocate Jose Ma. “Joey” Concepcion III.

DLSU live-streamed the ceremony in its official Facebook page. The two-hour long live video gathered at least 276,000 views during the time it was broadcast.

The 53-year-old global business magnate has a net worth of $38.3 billion according to Forbes magazine.

Here are 17 quotes from Jack Ma that resonated the most with the Facebook viewers.

On personal growth

1. “When you are 20 to 30 years old, find a good boss. When you’re 30 to 40 years old, try do something you want to do for yourself. When you’re 40 to 50 years old, do something you are good at. When you’re 50 to 60 years old, focus on helping other people. When you’re over 60 years old, spend time with your grandchildren.”

2. “When you have a dream, you have to think of the bad side of the dream very clearly. Think of what you will give up."

3. “If you think it’s about three years you need to be successful, prepare for about 10 years. If you think you have about five years to succeed, prepare for 15 years. And if you think you need 10 years, you might succeed in eight years. You should have a long preparation, determination."

4. "A young person who wants to do a lot of things is better than a young person who doesn’t have anything he wants to do."

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5. “The priority of whether you want to study or work is the same: learning. When you do the business, you learn from the business. When you’re in school, you have to put the other knowledge into practice.”

6. “A lot of people leave school then go do business. They say Bill Gates succeeded. There is only one Bill Gates. Don’t do that.”

7.  “If you want to be successful, you have to have great EQ. No matter how smart you are, if you never know how to work with people, you will never succeed.”


On technology and the future

8. "It's not the technology that changes the world, its the dream behind the technology that can change the world."

9. “I think human beings have wisdom, machines have intelligence, animals have instincts.”

10. “Philippines—I think you have the opportunity to make the world’s best fintech in the world, because you have so many mobile phones, more than 7,000 islands. We should make Philippines a cashless society. When you have a cashless society, [there is] no corruption. Life is easier.”

11. "The way we do trade will be different. It’s gonna be online. No made in China, no made in America, no made in Philippines. It’s [going to be] made in Internet."

On the education, business and Philippine internet

12. “We should change the education system, improve the education system. Traditional way of education, I was considered a failure, a loser.”

13. “If you have crazy dreams, don’t talk to your grandfather.”

14.  "Don't invite your best friend to form a company with you. Don’t. I see so many tragedies. There are cases where they succeed, but most possibly you will fail. It’s better to make friends when they join the company."

15. “You should not find the best people. You should find the right people.”

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16. “I tried to test the speed of Philippine Internet. It's no good.”

17. “I’m very grateful to be given the doctorate degree, but I was considered to be a bad student.”

This story originally appeared on Entrepreneur.com.ph.
* Minor edits have been made by the Townandcountry.ph editors.

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Pauline Macaraeg for Entrepreneur.com.ph
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