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Quote Of The Day: Jack Ma Edition
As the Alibaba IPO prepares to open on the NYSE (where they described this as "the biggest and most important IPO of all time," Jack Ma - who explained his hero was Forrest Gump during an interview with CNBC, just joined the Central bankers' 'have faith' club with his dismissal of concerns that all is not well:
"Trust Us, Trust The Market"
So there it is - from the lips of the richest man in China - trust the billionaires, they know what's best for you.
And some other quotes, this time from Ma's interview with Bloomberg TV:
On what he says to people who thought he was crazy:
"Yes. I think as we give the souvenir today that everybody should have a dream. What if that dream comes true? So I believed that 15 years ago that internet is going to change China, is going to improve the world, whether you believe or not, whether we will succeed or not, but somebody will succeed. So if you don't work hard, if you don't keep on working every day nobody has the chance. So we are - I never know that we will be here today…"
On whether he plans to buy Yahoo!:
"I don't know if they would sell [Laughter]. No. I think the very important thing is that we want to build up a company, not the buying company. We want to make sure that our ecosystem helps the small guys. Anything that can help the small business grow we will consider."
On whether he has spoken to Marissa Mayer:
"I - we talked about a couple of months ago. And yesterday she sent a nice email to me so congratulating anything, yes."
On the biggest challenges of being a global company and dealing with the Chinese government:
"Well, being a global company dealing with any government is difficult. So it's a great opportunity if you deal with the government well and communicate with them, listen to their problem, solve their problems, tell them your problems that's the opportunity for communication. That’s what we survived the past 15 years, always try to say in love with the government, but don't marry with them. I mean this is our philosophy, making sure that you solve the problem they want to solve. "
On the timeline for U.S. expansion:
"We already started helping a lot of small business in the U.S. in California, in Washington. And still we sell American cherries and we're selling a lot of seafood. And we want to sell more things. We are coming here not to compete. We're coming here to help a lot of small business, which I think a lot of things may need to be done. It's not of a competition."
On whether he is open to a joint venture with Amazon:
"I would be interested in talking because as always anything, anybody that involving helping small business we will feel excited. "
On what mistakes U.S. companies are making as they try an expand in China:
"I think they should send entrepreneurs there. Every market if it is a market economy you have to making sure you have the entrepreneurs there, not only the professional managers. My view is that try to make your customer happy instead of make your boss happy. And making sure send the people there in this market have patience and having, have the time to do that. And what we want to do is that we want to help a lot of small buys because big guys are already in China. Small guys they need a help like us. And we - this is what we are excited about."
On business ideas he has said no to:
"I'm saying no to a lot of ideas because as a CEO I have to say no to opportunities because if I say yes I probably get and 5,000 opportunities every day. But whether yes or no, everything based on the mission that we are helping doing business easier. If it's on that we'll consider. If oh and somebody come and say can you - we will have the list you, we'll make a lot of money, I'm not interested."
On whether he is 'really' the CEO:
"No. I'm the chairman. I focus my time on training, developing people. I focus my time on government relationship with all the nations that helping small business. I focus my time in global expansion. That's all strategic thinking. I don't do any this kind of operation work."
On what is his next surprise:
"Well It's coming. [Laughter]"
On whether he has celebrated with his co-founders:
"Well we had a big dinner last night. And everybody cried. And we said, well 15 years we never know that we could of through. Who are the people we should be thankful? We say we thank the customers. We thank the young - it's the people. It's not us. So that's why we put the young people there and the customers because we believe after 15 years the purpose of working so hard is that we want to make these people successful because when they're successful our success is a result."
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Trust is earned, not IPO'd........unless you're Wall Street.
<Whatcha gonna do about it punk? It's the only game in town.>
Ummmm........not play? And give me back my money while you're at it.
<Fat chance sucker.>
Yeah like I trust a Chinese guy who resembles a little shrewd weasel.
I kind of like this guy and I take him more or less as he seems.
If you want to see shrewd weasels I invite you to go the average corporate boardroom. In any established company most of those guys and gals read the books on gaming the system. The reason most every major company turns over and fails withing 50 years is sitting right in that boardroom. Sears, at one time the largest retailer in the world is nearly finished. These guys go back to the old West in America with catalogue sales, the predecessor to internet sales. So, with 100 of years of retailing, Wharton graduates and overpriced consultants why are they now failing miserably? It is because of that boardroom and all the generations. Once you get past the founders and the "professionals" take over your downward spiral begins.
So, Ma has to be clever, he had to keep the Chinese government off his back and he seems to have succeeded with a genuinely good products or products. He seems to understand marketing and even capitalism although he will not be allowed to use that last term in his home country. I also think he is not part of the ever popular Jewish conspiracies or NWO, at least not yet.
A lot of people are wealthier and better off than before he and Alibaba were there and that is good no matter how you slice it.
Thanks FreedomGuy for your refreshingly positive comment about Jack Ma. It's sometimes tiring to read negative comments from envious losers about his looks and about how you should not touch this IPO (at $68) with a 10 foot pole.
Follow the herd, it is not a cliff. It is not a cliff.
Or "Follow the Nerd, not the Herd"?
INteresting on the Chinese news TV last night they said he listed in NY b/c he refused to comply with HK regulations where he first tried to list. Could not meet strict HK regulations so he took an easier less regulated market they said: the NYSE.
I guess moar suckers here then there. They said regs there were tougher after the 2008 crash of all the ponzi stocks and bonds.
LMFAO, like Bejng didn't green light that move!!!
If is wasn't part of Bejing's bigger plan, it wouldn't have happened, but don't worry Wall Street, keep thinking your worn out Coutries politicians have any power left to protect you, when the time to bring you to your knees arrives!!
Ohhhh man, will hear some squealing that day, won't we??:)
Hopefully this little super geek, will take his trillion dollar IPO and buy up all the other super geeks over here and move them all to HK!
Fuck these yellow monkeys!
Trust should be a four-letter word.
Forrest Gump? So your hero is half retarded?
Ma is fucking ugly, looks like he was manufactured in korea
Yeah, but all the American gold-diggers would be throwing themselves all over him.
In every Bloomberg article he looks like a shriveled up skull with eyeballs. And I bet they go through dozens of stock photos to pick the best ones.
That man will not need a Halloween costume.
If it grew a tail and some horns he'd look better.
Those new found billions make him very handsome in some poeple eyes!
Czars in th USA and Alibabas in China, boy is the world a very confused place these dayz...
Sum Ting Wong
You may be right, DOW should be at least 18K by now this morning....
Wi Tu Low....Head of Investor Relations
Awesome
Q: Did you hear about the Chinese couple that had a retarded baby?
A: They named him Sum Ting Wong.
AND- A Chinese man rings his boss, “Me no work I sick.”
Boss says, “When I’m sick, I make love with my wife. Try that.”
Two hours later the Chinese man rings back, “Me better, you got nice house.”
who shaped that mother fuckers head anyway...
trust a mother fucker that looks like a praying mantis???
FUCK OFF....
today its gonna be hell for everybody here on the ZH because of the Scots's proving to be a bunch of bitches and crushing my hopes that 1 nation would stand up to the MoneyChangers....
FUCK ALI BABA......
that mutant mofo is stealing from the forty thieves. poetic.
In 2011, Ma sold Alipay to himself below market value without notifying the board of Alibaba Group or the other major owners Yahoo and Softbank. Yep, you can trust him.
Is he Chinese or Pekingese ?
A well, with so much money on you bank account.....
"Trust us...because we are so smart: S-M-R-T!"
http://olduvai.ca
What the fuck else would you expect this guy to say? Don't invest in the markets as he is trying to launch an IPO.
Trust lampposts, trust rope.
"Market"... LMFAO!
No Tikkey, No Shirty
sounds like what i used to tell girls in high-school before popping their cherry ... "trust me"
You think it would be wiser to trust lazy obese stupid ignorant super-unachieving alcohol-drug-entitlement-addicted ghetto garbage, or their leaders, eg obama, reid, pelosi, et al ????
Trust that you buy the right fruit company. If Jack Ma didn't lose AliPay from BABA , messing with the yuan backdoor, he wouldn't be here today. That quote about his most difficult decision in his career was in there too, trust him.
Ali Baba with "Wall street open !".
Just a new magix frase.
We are watching the Peak in the market right now...remember this day...
Those same words were uttered when LinkedIn went public, and then when, Farcebook went public, and then when Twatter went public. They'll probably be uttered again on the next big IPO.
Please list all the times you have been right about market tops and bottoms, your investments in those markets, and how much you made........or lost.
You don't really need to express a 'feeling' about the market.
Please oh, please oh, please pull a BATS.
Trust Us.
I mean it, I'm not kidding, if you don't trust us we're going to kill you.
Waterhead, needs a drain pipe.
A lot of Butthurt Merikans. LOL
So Jughead here is a big fan of Gump. Well, fuck yeah, cousin, ME TOO!
"Rife is rike a box of chocorates".
"Prease IPO, make me into a bunch of cash so I can make my debts fry away".
"we're selling a lot of seafood."
OK, that's scary right there.
Yeah, invest in a company whose name was inspired by "Ali Baba and the Forty Thieves"... what could possibly go wrong?
after reading the comments, I am convinced that many of you have no experience at all using any Alibaba's portal before.
Trust me, once you use it, you will come to the conclusion that ebay and amazon is dinosour.
but the site is in Chinese only.
I wonder if Asians put their smileys like this ¦)
My chinese mate invested in stocks and made a fortune, put his buddy on the same deal and lost... He asked why his money didn't make the same amount and their broker said 'fluctuations'... So he said 'Fluck u aussies too!'
Small dick big pockets!
Latinlover we dont want to hear any opinion from a bean eating squat. What central American or south American shithole country you from. And tell your relatives who are here illegally and real Americans have to , tell em to get the fuck back to their own shithole country. We are tired of supporting y'all s asses and then hear how much yall hate the United states. Ungrateful bastards. So lover do us all a favor and stay the fuck off this site.
Frick-yeah gringo ^ what he said!
Are you using the "royal we"? Tell us how you're supporting everyone or go back to your cave.
You think he sent a "thank you" letter to Yellen to thank the Fed for leaving all that loose change laying around that could be put into his IPO?
Don't fight the Fed, don't fight the trust.
"In love with the government."
This guy gets it. Feudalism, not capitalism. The lords need to remember to pay homage to their kings so they can keep at least a portion of the tithe's from their serfs.
The guy looks retarded. Forrest Gump...
So when does the next cultural revolution start?
When ppl taste like chicken :)
> "We are coming here not to compete."
> "We're coming here to help a lot of small business"
So he's here to help. How is this kind of statement good for investors anyway? I hope this is just poor phrasing due to some kind of language barrier.