Name: Jack Ma
Uploaded: 2014-09-18
Duration: 1 min 40 s
Description: Jack Ma

Because of China's massive growth over the past 35 years, you could call entrepreneur in China lucky except it takes a lot more than luck in, in China's market. Jack Ma faced a lot of competition when Alibaba was young. Competition from fellow Chinese entrepreneur's, but also American companies that saw a great hope. In the China market. Ebay and Amazon are 2 of those. Amazon still works there but Ali Baba has the far lead against Amazon in online transactions in China, and Ebay left the market. Jack Maw is one of these, rare guys that is not only innovative and introduces, new things that really work in China's market. Good. For instance, Alipay has a deal where if you don't like the product, your payment doesn't go through. It sits in escrow. So he's created trust between the millions of sellers on one side and the potentially tens of millions of buyers on the other side. Even when that, what Jack Ma created is a system that Chinese consumers feel comfortable. With. You can use Taobao. You can use Tmall. And you can use Alibaba's payment system. And it's under the same umbrella. It creates a familiarity that you're not skipping from Amazon to eBay to Etsy. It's all the same company. In China, Alibaba's monster IPO is a big source of pride. When you read headlines that Ali Baba is worth a hundred and fifty billion dollars. The people in Beijing and elsewhere, feel that Chinese tech company's have hit the world stage.