thank you very much, dear miss sir, ladies and gentlemen. oa, before i am i my speach, i would like to show you a vedio happen in hangzhou about the our hangzhou smallsize enterprise summit. can i?
thank you. after there days, you know, in house meetings and also fly all the way here, i can't feel quite well today. but when i see the entrepreneurs, when i came to the sms, I always feel excited, cause when I join the asemis conference, i see from the eyes the dream, the passion,the hope. when i jion the fortran 500 conference,i am not see those, i see the numbers, i see the revenues, i see the KPIs, i see the bloody competition. but among some issues, you see ,i have a dream, i want do something, and that happens all the time, and that make me excited all the time. and today, I think last year everybody say "woo, the economic in trouble and we are all dead and what we gonna do ".and today, everybody seems to be happy to say "economy is come back". is it a really economy comeback? I don't think so. the money go to big commpanies, the money go to infrastructure, the money goes back to stock market, seems nobody learn from that. how can the economic comeback, if the asms is not comeback? how can the economic comeback, if the dreams not comeback, the hopes not come back. i see one thing that two days ago at a dinner with my singapore friends, they said singapore government is encouraging to have more babies, it's because you know people are ageing and not enough kids. and i think we every economy every nation needs insant package to have more samll_mediumsize commpany to have more hopes. because every big company comes from small buisness. if without this hope, without this kind of insants to have more babies, we gonna die. why i always feel excited, I have eight babies. in the past fifth years, i build up eight companys. seven of them are well healthy, one of them i sold it. and i keep babies, when i am looking at babies, alibaba, taobao, taobaopay and the company would i have that ali cloud, we'd just have a new baby two month ago.i always feel excited because you see the hope you know this baby gonna to change me,this baby is gonna to change the whole world. that's the that i always feel excited.
and if you want to be happy, have more babies. if you are a government and want your economy to be good, have more asmis. these are dreams, these are the hopes, these are the future. so this is what we all want to say, but enough. we have been crying ,saying "please give us support". but all the asms ask ourself one question, we are not crying babys, we believe we are tomorrow's google. we beleive we are tomorrow's ebay,Yotube and UPS. if we beleive we are, we can be, if you do not beleive, you never be. we heard a lot of governments say "we give you , o, let me know what we gonna do, let me know how we can help the asmis". we heard a lot of banks say " we are giveing loan to asmis". i heard some banks ,you know one of the bank president "we give like two hundred billion dollars to asmis", i said "what's the size of the loan you give","twenty million dollar". hwo can you say twenty million dollars. the research i got from alibaba group, alibaba status,87% of the asmis what they need is the found is below sixty thousand us dollars. they are giveing loans two hundred million dollars to some big companys, they are not the asmis, they are not the hopes. but i think we all asmis see that nobody can help you. my eight companys, i would say "nobody help us", only we can help ourselves. don't rely on government, don't rely on banks, forget about that, rely on your friends, rely on relatives, relay on the small dreams and always keep that in your head, cause i have trying very hard to get loans from banks, always trouble. in the past ten years, i didn't even borrow one cent from banks, my kids grow up. I do not know why, and banks always say "well, because I do not have enough infomation from the asmis." tell me, any fortune 500 any big bank CEOs or presidents go to see as go to see asmis, No, they go to the CEO summit. how could you get information if you do not go there listen to them. talk to them, share experence with them, to see what they need is only fifty thousand dollars instead of twenty million dollars? so atend to our dicussion yesterday, we say, banks are banks, they have to control the risk. right, so government and banks, let's think about something new, new financial instructure that can really help those millions of hopes of small companys that need fifty thousand us dollars. what is the right instructure, what is the right organization to support them. that is the thing we should think about.

so the other thing I want to share here is always I beleive that small is beautiful. and this financial crisis , it give a lot of disaster, it's a disaster to big companies. this war is in 21 century, I think in last century, it is big is better. you have a big of, factory, big amount, you know, every thing is big, every thing is good. this century, in 21 century, I always beleive small is beautiful. because it is not how fast your machine is, it is not how many equipment you have, it is how quickly you can change yourself to meet the market. because the information time, Internet technologies make difference. so the word IT in last century is design for manufacture. in this century, IT is design for making to help the consumers. so I think this is a disater for big companies, century disaters for big companies. but it is a great opportunity for small business. for this financial crisis, we see a lot of big companies we never thought they would die, AIG, it is me it's like a empire, how can that happen. right, all the g ,you know big car company which we respect, we always want to be there, but today they all dead. and let's look at the asamis, we still feel painful, but we are happy in our heart because we are still survive. and we heared so many stories about big company is in trouble and i see the society government pay too much attention to these big trouble makers. they are the trouble makers, and we keep them enough surpport. let them die! It is the time for them to die because they make troubles. every big company they have a different disater, different problem. but all the asamis have the same problem, they need understanding and surpport. this world is not fair, and i know, so that is why I want to encourage everyone all asamis here, I am asami, I have eight kids, I am still asami, i still beleive i am small, because when i am small, I know I can be big. and I hate to be big, unfortunately, when i am a small company, only arrange 20 people(有誤), i feel so excited, i can call every employee's name. and I know every time every thing I want to change, change in half minute. now, terrible. when i was 20 years old, my friends said "your company is not big enough, you are like a big boss, you are easy, right, you can control your time", now my time is not controlled by myself. my time is controlled by all the meetings, secretaries, kpis, share holders, all the things. It is much tough than when you are small, so I always beleive that first day love is very beautiful, beleive first day love, beleive when you are small, at least you have time to go out to go to cinema with your wife and kids, and enjoy one of the view. but when you are big, you always go to board meetings. and also i would like to say that I give you some, today i came to here, people say "jack, why don't you have a ppt". i never prepare ppt, you know, i am not good at technology, i am a, i was training to be a high school teacher, only thing i can know about computer, funny thing, i am running one of the biggest e-commerce company in china, and I beleive in the world, but I know nothing about computer, the only thing I can know about computer is sending and receiving e-mail and browse, that is it. cause I always beleive technology for people, people not work for technology. but today, I come here as an entrepreneur, i am prepared everyday. i am not prepare the ppt, because everytime when i use ppt, something wrong and I cann't use it. so I come here to tell you my all experience. I want to share with you as a eight kids' father, what I did when I have trouble. when I have trouble, I always remind me three things, focus your customer, serve your employees, and learn from the competitors. these are the key issues that I learn. focus on customer, today everybody talk about shareholder Num 1, I hate that, I think it is always customer Num 1. It is the customer give you money, it is the customer give you the innovations, it is the customer that make you happy, because. year 1991 and year 2001 when internet bubbles burst, we can not get any money, we can not have revenues, we have nothing, but everyday when I, encuraged me go on was letters of thanks and emails from my customers say "jack, alibaba keep on" because you helped us, one day, we will help you, that is the dream I have. So today, we beleive shareholder Num 1, you only think make numbers, you only think about revenues, you only think how can make your stock market go up. I let you know, no shareholder can be trusted. I tell you the truth. well, our shares stock price of two years ago we listed is 13.50 hongkong dollars, before that listed, a lot of shareholders come to say "jack, we are long_term shareholders, please give us more shares, we will keep it". when financial crisis time came, you know, the day I pill 13.50, we went up to 40 dollars without doing anything good with in 24 hours, and then financial crisis came, 40 dollars to 3 dollars without doing anything bad, they all gone. most of the shareholders the share traders, how can you trust them. so rely your customers, because customers stay with you, customer grow with you, customers give money, give you the hope, give you the surpport. so focus on customer. and second is rely and serve your employees. It is your employees, it is your team, that make the difference, It is the employees that make your dream realized. if we say we have so many problems in our big companys have a problem in getting a innovation, hwo to make things happen, well, because you do not listen to the employees, you focus too much on the shareholders, the shareholders give you this idea, that idea, when you really do those ideas, they gone. they change all the time. but your employees always stay with you. I remember the tough days was so difficult in years 2000 and 2001, there is only one group of people that stay with me, that is my colleagues. and people say "jack, you don't have to pay me for 2 years, i will stay in the company, because you respect us, because customers love us." and i will tell you one funny thing, the only way you beleive your employees are talents, they are talented people, if you don't beleive them, they would never be. my mistake I made when I was, year 2000, we raised 5 million dollars, and that 5 million dollars, when we have money we start to make mistakes, I try to hire as many talents as possible, those talents are MBAs, those talents are vice presidents of multinational corperation. because I beleive if you have a MBA, you must be good. but what I hire these guys, Oh, My gods, it is terrible. these guys keep telling about strategy, I only have 5 million dollars, i remember one of my vice president of marketing said "jack, this is the budget for next year marketing". i see, what is that, 12 million us dollars, i only have 5 million. he say "I have never done a plan below 10 million". when somthing wrong, it is always your fault, because you never know, try to find the right people not the best people or the employees. so if you try to hire greate people in your own company, which your company is not good enough at that time, just like pull mordent 747 into a poor tractor, when that goes, your tractor never fly, into pieces. so my suggestion is that look at your employees, develope them, only when they are developed, your company will be developed. the day when we appeared, we create more than a thousand millionares at least in the company, all the guys sitting in the room, we had a chat, I say "ask me, now tell me one thing, why you are so successful, why we are so successful when we 20s, we become a millionare? what happened, are we very hard-working people?", I think there are more hard-working people outside. do you think that we are smart enough? at leat I am not smart, i took three times to go to university, I failed all the times, and I dont think I am smart, and I dont think you are smart. at that time in 2000, it was so difficult for alibaba to hire people, if it is not very much disabled, we hired them, if they can walk, we hired them. because nobody beleive internet, nobody beleive e-commerce work in china, nobody beleive that you know internet can happen.