In this video Jack Ma discusses business lessons he learned from building Alibaba into a $550 billion company. He discusses the group’s past, present, and future.

Jack Ma brings interesting insight into how his first internet venture flopped. A lesson in never giving up. He tells the story about how he learned his lessons and got 18 friends together to start again with Alibaba. Now the company is worth over $300 billion and has over 60,000 employees.

Jack Ma also goes into the reasons U.S. businesses have failed in China because they had their priorities wrong. The nearly 40 minute chat sessions is fascinating view from a man that believes he can create 1,000,000 new jobs in the U.S. through his company.

This fireside chat was recorded today in front of about 3000 attendees at the group’s Detroit Gateway 17 event. The two-day event introduces Alibaba and sales opportunities to China for U.S. businesses. Other scheduled speakers for Wednesday include Martha Stewart and David Abney, CEO of UPS.

Video: Copyright Alibaba Group

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