 Welcome, Jack Ma. Thank you. Thank you. We've all become very cognizant of Jack and his story. And when Alibaba went public with the largest IPO in history, we knew a lot more about him. So I want to talk about his personal story. I want to talk about how many times he tried and failed and what kept him going. I want to talk about where he is today and how he got here and where he is going and how he expects to get there. And if he gets there, what will it all mean for him and for the people that he wants to inspire? So I began with this question, though, Jack. Why are you back at Davos? It's a long break for seven years. I think my last trip here was year 2008. But I was coming for year 2001 for the Young Global Leader for tomorrow. And I think, remember, I never heard about Davos when I came. But when I came, in the Switzerland, so many young people demonstrated. It was such a horrible thing that I was, and I asked them, why did they do it? They say, anti-globalization. And I said, why globalization is a great thing? Why people don't like it? And then we come all the way for two hours here. There's a machine gun. There's people checking us. Is that a fallen or is that a prison we're going to go inside? But when I joined the fallen at the Young Global Leader, I was thrilled by so many ideas. For the first three, four years, I learned what does the globalization mean? What does the corporate citizenship mean? What about social responsibility mean? All these new ideas, and I see so many great leaders talking about leadership. And I benefit a lot. And in year 2008 and 2009, when the financial crisis came, I think it's better to go back to work. Because we can never win the world by talking. So go back, spend seven years. Now I come back, I think it's time to do something return. Because I learned so much 12 years ago. So why I should not talk into the Young Global Leader of today, shelling with them how we've gone through. So that was the thing. Let's start with where you are today. Just how big is Alibaba? How many people come every day? How many people come in a week? How fast is it growing? We have over 100 million buyers visiting our site, shopping on our site every day. And we created... 100 million every day. We created 14 million jobs for China directly and indirectly. And we grow from 18 people to 30,000 people, 18 people in my apartment to now we have four big campers. Compared to 15 years ago, we were big. But compared to 15 years later, we're still a baby. How big will you be 15 years from now? I think 15 years ago, I told my team that 15 years, in the past 15 years, we grow from nothing to this size. And 15 years later, I want people to see know about Alibaba, know Taobao, because it's already everywhere. I want 15 years ago, when we talk about what is e-commerce, why small business can use e-commerce, those internet can do business across the nation. And I hope 15 years later, people forget about e-commerce because they think it's like electricity. Nobody think it's a high-tech today. This is something that I don't want 15 years later. We still walk on the street talking about why and how e-commerce can help people. Talk about the IPO. Did it exceed your expectations? Well, it's a pretty small IPO, 250... Yes, the largest IPO in the history of Wall Street. Number two was a Chinese bank. Thank you. I remember, year 2001, we went to raise some five-minute, three-minute venture capitalist daughters in the USA and got rejected. And I say we come back raising some a little bit more. But I think what we think more about is for $25 billion, how we can spend the money efficiently, because this is not the money. This is the trust from the world. The trust from those people. They want you to do better jobs to help more people. They want to have a good return. So I think it gives me more pressure because when our market cap is bigger than IBM or suddenly we're bigger than Walmart, we're one of the top 10, 15 largest market cap companies in the world. I told my team and myself, is that true? We're not that good. Because years ago, people say, ah, Alibaba model is terrible. Does not make money, have this and that, all the big bad things because Amazon is better, eBay is better, Google is better. And there's no such model like Alibaba in the USA. So I told myself and people we were better than people thought. But today, when we are that big size, I said no, we are not that good as people thought. We're just a company 15 years old. Average age is 27, 28 years old, young people. We're doing something that human beings have never tried. I want to talk about the future. When you were born in Hangzhou, where the headquarters still are, and your campus is there. Don't move your loot. Your headquarters are there. You found their loot there. You grew up in the 60s. 64. Born in 64. That was the time of the Cultural Revolution. Yeah, it was the end of the Cultural Revolution. Well, my grandfather was a tiny landlord. After liberation, he was considered to be a bad guy. So I know how tough it was when I was a kid. You tried to get into three colleges. Each time they rejected you. No, I tried. There's examination that young people, if you want to go to university, have to take the examinations. So I failed three times. But I failed. Funny thing is that I failed a key primary school test for two times. And I failed three times for the middle school. Middle schools. And you would never believe in Hangzhou, my city, there's only one middle school that lasts only one year. It was changed from primary school to middle school because our graduates of our school no middle school accept us because we were too bad. They would become a middle school. What effect did it have, though, being rejected? Well, I think we have to get used to it. We're not that good. Even today, we still have a lot of people reject us. I think when I graduated from universities, and for three years I tried to fail in the universities, so I applied jobs for 30 times, got rejected. I went for a police. They said, no, you're not good. I went to even the KFC. When KFC came to China, come to my city, 24 people went for the job. 23 people accepted. I was the only one guy. And we went for police. Five people, four of them accepted. I was the only guy that I received it. So, to me, being turned down, rejected. Oh, by the way, I told you that I applied for Harvard for 10 times rejected. I know I'll be rejected. They're sorry now. Ten times you wrote them and said, I'd like to come to Harvard. Yeah. And then I told myself, someday I should go teach there, baby. I think that can be arranged. Richard Nixon came to Hangzhou. And after that, tourists flooded the place. And that's how you learned English. Yeah. I really like the... I don't know why, 12, 13 years or so, that time I suddenly fell in love with the language, the English. And there's no place you can learn English at that time. There's no books, English books. So I went to the Hangzhou Hotel, now called Hangzhou Shangri-La Hotel, because that was the hotel that can receive the foreign visitors. So every morning for nine years, I showed them around as a free guide. And they told me English. And I think that changed me. I'm 100% made in China. I've never got a one-day train outside China. Yeah. And people, when people talk to me, say, Jack, how can you speak English like that? Why sometimes you talk like Western guys? I think that was the nine years. These Western tourists opened my mind. Because everything they told me are so different from the things I learned from the schools and from my parents. So now I have a habit. Whatever I see, whatever I read, I use my mind. Think about it for two minutes. Is that how Ma Jun became Jack Ma? Actually, Jack, the name was given by a lady in tennis. She's a tourist that she came here. And she said, she came to Hangzhou. We become a pen friends. Ma ring is so difficult to pronounce. So she said, do you have an English name? I said, I don't. So can you give me an English name? She said, okay. I said, my father called Jack, my husband called Jack. What do you think about Jack? I said, good. So I've been using that for that many years. First visit to America in 1995? 1995, yeah. I've come here for a project helping the local government to building up a highway. And you tried the internet? I tried the internet in Seattle. And in a building called the US Bank. I don't know whether the US Bank is still there or not. But there's a building. And my friend opened a small office which is only 10% bigger than this room. There are a lot of computers in there. And he said, Jack, this is internet. I asked, what is internet? He said, search whatever you want. At that time, they used Mosaic. Very slow. And I said, I don't use it. I don't want to type because the computer is so expensive in China. If I destroy it, I cannot pay. He said, just search it. So I searched the first word, beer. I don't know why because it's easier to spell, baby. And I see beers from Germany, beers from USA, beers from Japan. But there's no beer from China. And I said, okay, type the second word is China. No data. Nothing. Nothing. 1995. 1995. No data about China. So I talked to my friend. Why not make something about China? So we made a small, very ugly-looking page called China. It's something like I did at translation ages and we listed on there. It was so shocking. We launched at 9.40 in the morning. At 12.30, I got a phone call from my friend. He said, Jack, you know, you got five emails. I said, what is email? And they said, these are the things. People are so excited. Where are you? This is the first time I see a Chinese website on that. How can we kind of, can we do something together? So I think this is something interesting. So we should do it. Why did you call it Alibaba? Alibaba? Well, when I started, I think Internet is global. We should have a global name. And a name that's interesting. At that time, the best name is Yahoo. So I've been thinking for many days, suddenly, Alibaba is a good name. So I was happened to be in San Francisco that day. I did have a launch and a waitress came. I asked her, do you know about Alibaba? She said, yes. I said, what is Alibaba? She said, open sesame. Good. So I went on the street to ask about 10, 20 people. They all know about Alibaba, 40 sieves and open sesame. And I think this is a good name. And started with A, whatever you talk about, Alibaba is always top. You have said before that in creating Alibaba, you had to create trust. Yeah. Because people in China were used to face to face. How did you create trust? I think because we started doing business on the internet, I don't know you, you don't know me. So how can you do things online unless you have trust? So for e-commerce, the most important thing was trust. I think when I first went to USC for raising money, talked to the venture capitalist, a lot of people say, oh, Jack, no, no, no, no, no, no. China doing business by the guanxi. How can you do business on the internet? And I know that without the trust system, the credit system, it's impossible to do business. So we, in the past 14 years, everything we do is trying to build up the trust system, the record system. Well, Charlie, you know, I'm so proud of today when I talk to the young, today in China and in the world, people don't trust each other. The government and people and media and everybody, this guy is cheating. But because of e-commerce, we finish 60 million transactions every day. People don't know each other. I don't know you. I send products to you. You don't know me. You wire the money to me. And I don't know you. I give a person a package. I don't know him. He took something to sow across the ocean, across river and sand. This is the trust. We have at least a 60 million trust happening every day. But you created it by creating an escrow account in the beginning. Yeah. And so you keep the money until they got the product. Yeah. And then you release the money. That's true. I mean, the escrow service is about Ali paid. When I had this idea, I would have loved Davos. Because it was a big decision. Because for the first three years, Alibaba is just like e-market places for information. What do you have? What do I have? We talk a lot of time, but don't do any business. Because there is no payment. I talk to the banks. No banks want to do it. Banks say, oh, no, this thing never worked. So I don't know what to do. Because if I start to launch a payment system, it's against the financial legal laws. Because you have to have a license. But if I don't do it, e-commerce will go nowhere. So then I went to Davos. I listened to a leadership discussion. Leadership is about responsibility. And after I listened to that panel, I gave a call to my friends, my colleagues in my apartment and said, do it now, immediately. If something wrong, the governor happy about that? If one body has to go to the prison, Jack Ma go to the prison. Because it is so important for China, for the world to build up the trust system. And if you did not do it, I said, and do not do it properly, stealing money, money wash, no trust record, I send you to the prison. So that was the thing. And people don't like it. So many people I talked to at that time for Alipay, they say, this is the stupidest idea you have ever got. But I say, I don't wear the stupid club, as long as people use it. Now we have 800 million people using this Alipay. Stupid things if you do it better. But Alipay is a privately held thing. It's not part of Alibaba. Let me talk about money for a second. You have never gotten money from the Chinese government? No. None? I want at the beginning, at least I don't want it, because I think if the company always think about picking money from the government of pockets, that company is rubbish. Think about how can you make money from the customers and market and then help customers succeed. You don't want money from Chinese banks? No. At that time I want, and now they want to give me, I don't want it. Your relationship with the government? Yeah. What's your relationship? Here's what some say, that you have existed in an environment that they have restricted competition for you. And that's a pretty good thing to do for a private company. Yeah. I think the relationship with the government for us is very interesting. For the first five years, because I've been working as a part-time job for a government organizational ministry of foreign trade, 1997 for 14 months. And I learned that you should never rely on government organizations to do e-commerce. And I started business, I told my people and team, I've been in love with the government, but don't marry them. Respect them. And a lot of people say, well, you know, government officers talking to the internet, the censorship and this, that and the worry about, I think it's the opportunity, it's the responsibility, talking to them, tell them how internet can help. So you tell them we create jobs? Oh yeah. I think a lot of people fight and fight against them. And in the first 12 years, anybody come to my office, I sit down talking to them how we can help economy, how we can create jobs, why China will improve by the internet. I think because internet at that time is new to any government. And if you convince somebody, and you have the chance. So today I'm very talkative, probably this is why I talk to so many people. So I mean, the government comes to you and ask you to do something for them. Normally, when government comes say, Jack, can you do this project? I say no. I can introduce some friends who are interested in doing that for you. But if they continue to want me to do it, I say, okay, I do it, but I don't want, I don't charge. I hope next time don't come to me again. But recently, we have some government organizing to do it. For example, every spring festival, the train station, the train ticket is so difficult. Hundreds and thousands of farmers work in the cities, in the spring festival, they go to the hometown. But when they order tickets on the, on the, the other way, the whole system crashed. For five years, so I told my young people, go support them. Don't charge anything because I don't want to see millions of farmers go back to city and they cannot buy the tickets. So it's, it's something that, it's not for money. It's something that, it's not for the government. It's for the millions and millions of people. They can buy tickets in a snowy night and they don't have to wait. They just buy, use mobile phone online, they get ticket. One way stop along the route to where you are and that big IPO was Yahoo. Jerry Yang gave you a, invested a billion dollars. A billion dollars. It turned out to be a pretty good investment for Yahoo. Yeah. But one time after another, you raised this money on your own outside of China with investors. Yeah. I'm very thankful for all the investors because 1999, year 2000, even at the Yahoo time, a lot of people say this Jack is crazy. He's, he's doing something that we don't understand. A lot of venture capitalists give you money because there is such a American model already there. But they say, Alibaba, we don't see this kind of model. Right? They say Jack's crazy. Yeah, this is crazy guy. I mean, I remember my first time in Time Magazine. They call me crazy Jack. And I, I think crazy is good. We are crazy, but we're not stupid. We know what we are doing. But if everybody agree with me, if everybody believe my, our idea is good, we have no chance. So that's the money we raised. We are very thankful. So when our investors make a lot of money, I feel proud and honored. As you know in the United States, issues have risen about privacy. Yeah. Google and Apple, and questions of whether the government should have access to files. How do you handle that if the Chinese government says you know a lot about people? Mm-hmm. You have transactional relationships with lots of people. Mm-hmm. And they say, we want to see your files. Well, so far, I don't have this kind of problems of our Chinese government. And I told them, any government if you come here for the national security anti-terrorist, or anywhere anti-terrorist, we work together. It's a criminal. We work. The rest of that? No. I said we are business. The data is so precious. Because we don't know how. Because if we give to anybody, it's going to be a disaster. And also about privacy issues. I think, just like hundreds of years ago, people say, I would rather put money under my pillow rather than putting in the banks. But today banks, especially, they know how to pre-care money much better than you do. Privacy issues, all these kinds of securities, today we may not have the solutions. We don't have the answer. But I believe our young people have the solutions. In the next 10, 20 years, there will be breakthrough on that. And I'm fully confident on that. Your life is a testament to the idea that nothing is impossible. That if somebody says no, you say it's just the beginning. Where does that come from? Well, at the beginning, I never thought, I thought when I was young, I said everything's possible. Now I know, not everything's possible. When you have something, you have to think about, you have to consider about the others. You have to consider about the customer, society, your employees, your shareholders, so there are so many things that I think if you continue to work hard, there's possibility. And I just feel that I'm enthusiastic about what we are doing. At the beginning, for the first five years, I just want to survive. And five years later, I think... That's 2000, from 90 points. But later, I think, wow, so many people's lives changed. I was so excited. For the first three years, we made zero revenue. Zero revenue. But we are so excited to continue to work. You know what happened? I remember many times when I go to a restaurant, I have a dinner. When I was trying to pay the bill, the owner of the restaurant came to say, sir, your bill is paid by someone. And a small note said, hey, Mr. Ma, I'm your customer of Alibaba Group, Alibaba platform. I made a lot of money, and I know you don't make any money. I pay the bill for you. And I remember one thing. One day that I was sitting somewhere in the coffee, somebody's sending me a cigar. I don't smoke cigar. But there's a note that, thank you very much, I'm your customer. And I remember in the top of the days, I was at the Shangri-La Hotel in Beijing when I got on the taxi. A man who opened the door for me, the boy at the gate, he said, Jack, thank you very much. My girlfriend makes more money than I do on your site. And this is something that you know that it's not mission... If you don't do it, nothing's possible. If you try to do it, at least you have the hope. The revenue comes from advertising in a smaller amount from transactional fees. Most of it from advertising. Tiny. Tiny from advertising? Tiny from advertising, tiny from transactions, because we need big mass. Now we have more than 10 million small businesses, power sellers selling our site to everywhere. So the big transactions we have is second after Walmart. So tiny... Second after Walmart. Tiny of the transact, of the money, are really big as big. So, you know, we... second after Walmart, I remember one of the senior management of Walmart, guys came to Hangzhou five years ago. He said, Jack, you know, you did a great job and blah, blah, blah. So I said, maybe in 10 years we'll be bigger than Walmart. He said, young man, you have a good hope. So we said, I'll make a map. I think in 10 years we'll be bigger than Walmart on the sales, because if you want to have 10,000 new customers, you have to build a new warehouse and this, that. For me, two servers. What's your market cap versus Walmart today? I don't know. It's close. I think so. Maybe we should check later. All right. So where are you going? What does Jack want? I think because the name for Alibaba, we are an internet company, happened to be in China. We have the same spirit and entrepreneur spirit like every great entrepreneur in the world. And I remember the day when I said Alibaba, we want to have a mission, helping small business doing easier. So next step is today, so many millions of small business using our platform to sell things and over 300 million consumers buy things from our site. Cheapest, efficient. So what I'm thinking about, how we can make Alibaba a platform for global small business, my vision is that if we can help Norway small business can sell things to Argentina and Argentina consumers can buy things online from Switzerland. And we can build up, which I called, I don't know, maybe the not right word, called EWTO. The WTO is a great past century, but WTO have so many big companies to sell things across the nation. Today internet can help small business sell things across the oceans, across the nations. And I hope that we can serve two billion consumers. Two billion consumers. We can help 10 million small business outside China. Outside China. Because we help the American farmers in Washington state almost 300 tons of cherries to China last year. Cherries. When we, before we sell, the ambassador of USC came to me and said, can you help us selling cherries? What's cherries and the fruits? He said, why not? I said, why not, let's try. So that when we order, when we start to sell cherries, the cherries still on the trees. So we started pre-order 80,000 families order cherries online. So we picked up the cherries and shipped them to China. Within 48 hours we sell the cherries. The consumers are so happy. And we got a lot of letters complaining after three days. They say, why only 100 tons? Why we should not get more? So we sell, you know, two months ago we helped the Costco. We sell 300 tons of nuts to China. So I'm thinking about if we can sell, we're also selling Alaska seafood to China. So if we can sell seafood, if we can sell the cherries, why we cannot help American and European small business selling things to China consumers? China needs that. So this is what I want to do, is that two billion consumers, China, Asia, developing nations, how we can let them buy things globally. Alibaba rode with the millions of people that went from poverty to the middle class in China. I mean, you were right there growing as they grew and increased. When you look at the international markets, you're doing well in Russia? Yeah. How well? We do pretty good on Russia. We do also pretty good in Brazil. In Brazil? Russia, I think, if not the number one, we had the number two or number three largest e-commerce. I remember last year, we had a campaign. The campaign is that a lot of Russian girls and boys want to buy things from China. You know how many days a Russian girl put a place in order and received the products from China? Two years ago, four months. Even that, people are so happy about all the things. And lastly, the campaign, within one week, we crashed the whole logistics system of Russia. You were also seen in Hollywood. What are you doing in Hollywood? Well, I like the Hollywood innovation and the digital background. I learned so much about the Hollywood movies, especially the Forrest Gump. I love Forrest Gump. Why do you like him? Simple. Never give up. People thinking he's done, but he knows what he's doing. And I was very depressed the day, a year 2002 or 2003, in the States. When I, oh no, no, no, we're earlier than that. I could not find a way for the internet. And I watched the movie in my friend's home, Forrest Gump. When I see him, I think, this is the guy we should learn from. Believe what you're doing. Love it. Whether people like it or don't like it, be simple. And like the word, life is like a box of chocolate. You never know what you can get. I never know I would be here talking to you and talking to Charlie Rose. I never know. And I made it. I told my people in my apartment 15 years ago, guys, we have to work hard. Not for ourselves. If we can be successful, 80% of the young people in China can be successful. We don't have a rich father, powerful uncle. We don't have one daughter from bank, one son from government. Just work as a team. So what do you worry about? A lot of young people lose hope, lose vision, and start to complain. We also have the same period. It's not a good feeling being rejected by so many people. We also depressed, but later we find that the world has a lot of opportunity. How you see the world, how you catch the opportunity. In the Hollywood, inspiration. But you're out there for business. You're out there because you want to make movies and sell them. I want to make the movie for business-wise. We are e-commerce company. We have a lot of products that need logistics. But movie, TV, these are things that you don't need a logistics system. And movie probably is the best product that can help you. One thing I told the Chinese people, my friends, in American movie, all the heroes at the beginning they look like a bad guy. Terrible things coming, they become hero. And finally they all survived. China, if you don't move hero, all the hero died. Because only that people become the hero. Nobody wants to be the hero. You want to change the definition of hero? Today we have so many heroes living this world. Are you still writing these kung fu novels or are you just reading them? I read them and I start to write something. I think to find kung fu is something you start to think about something that you cannot do. But if you have some luck, if you continue to practice, if you got a good master, if you're a good team, you're an expert. So at least to make me when I'm busy, when I'm tired, frustrated, I read books. You also travel with a tai chi. Am I saying that right? A trainer. Tai chi. What does that do for you? I love tai chi. Tai chi is a philosophy about in any young. Tai chi is about how you balance how you work, like a competition. People say when I compete with eBay say you hate eBay, I don't hate eBay. It's a great company. Tai chi is like you fight here, I go over there. You put it on the top, I go to down. It's my balance. You are heavy, I'm small. When I'm small, I can jump. You're heavy, I cannot jump. Tai chi is a better philosophy. I use in tai chi philosophy in the business. Calm down. There's always way out. And keep yourself balanced. And meanwhile, don't try to, business is a competition. Competition is a fun. Business is not like a battlefield. You die or I win. Business, even if you die, I'm not a win. Right? So it's about fun. So tai chi gives me a lot of inspirations. But you want your life and you want this company, Alibaba to change the world. And you are changing the world. In fact, you provide a forum for buying and you enable people to earn a living. But also, you believe that Alibaba ought to change the lives of women. So what are you doing? First, I think many years ago I want to change the world. Now, I think if we want to change the world, we change ourselves. Change ourselves is more important and easier than change the world. And second is that I want to improve the world. Because to change the world may be Obama's job. Because my job is to making sure that my team are happy. Because my team are happy, they can make my customers happy. If my customers, they are all small business. When they are happy, we are happy. About women, one of the secret source for Alibaba's success is that we have a lot of women. What percentage of women among Alibaba's boys? I think two or three months before we IPO, there is an American journalist company. She asked me a question. Check, I've seen so many women in your company. I said, what's wrong? We have a leader, we find that, we have 47% of the employees of our company are women. 47% of our company are women. And we actually had a 51% because we acquired some company these days. They have a more man, so balance that. But these are women in top level positions? 33% of the management are women. And 24% of the senior management, very top level are women. We have a women CEO, CFO, CPL chief people officer, and we have everywhere. I'm comfortable working with them because women, in this world, if you want to win in 21st century, you have to making sure that making other people powerful, empower others, making sure the other people better than you are, then you will be successful. So I find the women they think about the others more than they think about themselves. Women think about the kids, husband, parents, much more than the man. This is a friendliness. A couple of things I want to talk about before we go because we have less than a couple of minutes. China today, are you worried the economy slowed down? No, I don't worry about it. I think China is slowing down is much better than keep on 9%. China today is the second, the largest economy in the world. It's impossible to keep 9% of the growth. If China still keeps the 9% of the growth of the economy, there must be something wrong. You will never see the blue sky. You will never see the quality. China should pay attention to the quality of the economy. China should not. So if we have a lot of inference, like Hollywood movies things, and we have sports and these things in the GDP will be much better. So I think just like a human grow, this body can never grow, grow, grow, grow. Certain time, the slow of a body was slow, but you should grow your mind, grow your culture, grow your valley, grow your wisdom. I think China is moving to that direction. And you saw Modi in India? Pardon? Did you see Modi in India? Not yet. I'm looking forward to that. You'll go to India. Finally, there's this. You're one of the world's richest people. Your company is one of the world's richest companies. What do you want beyond Alibaba? Well, by richest people I was, I told myself I was really not happy in the past three months when people say Jack Ma is the richest people of China. Global celebrity, they said. No, I'm not. I'm not. When I start the business No, you are. You are. I never thought because how many, yeah, maybe I am, but I think 15 years ago in my apartment my wife was at that time one of the 18 founders. I asked her, do you want your husband to be a rich person? I never said rich person in China. Rich person in Hangzhou or you want to be your husband to be respected person. She said of course respected because she never believed and I don't believe we'll be rich people. We just don't want to survive. I believe we have one million dollars. That's your money. We have 20 million dollars. You start a problem. What about infrashing? Where we should start to buy and this, that's how it comes. When you have one billion dollars, that's not your money. That's the trust society give on you. They believe you can manage the money using the money better than the government and the others. So I think today I have the resources do more things. With the money we have, with the infras we have we should spend more time on the young people and I would say someday I'll go back to teach go back to school spend time with the young people and telling sharing with them what I do. So the money is not mine. I just are happily and having this resources and I want to do a better job. Just tell them your story. Yeah, tell them your story and tell them that if Jack, I don't think in this world a lot of people be rejected more than 30 times. If we, you know, the only thing we never give up, the only thing like we're like a forest gone, we keep on fight, we keep on change ourselves. We don't complain. Whether you are successful or not successful, I find that one person, when they finish the job, if they make the mistake, if they fail, if they always complain this guy will never come back. If the guy only check himself, yeah something wrong with me here, something wrong with me there, this guy has the hope. Jack, on behalf of everybody in this audience and a television audience around the world thank you for taking your time to be with us. Thank you.