 My name is William. I co-founded a tech company, internet company from Indonesia named Tokopedia. So I consider myself as an entrepreneur by necessity, entrepreneur by accident. So this is my story. I was born in a small hometown in Sumatra Island. Indonesia is an archipelago country, 17,000 island. When I graduated from high school, my late father and my uncle want me to have a better chance of life. So they believe that better chance of life start with a better education. So they give me opportunity to go to university. So for the first time I'm living my hometown to a boat for four days and three nights. Arrived in capital city of Indonesia, Jakarta. And I started computer science. But on my second year, my late father start to falling ill. In order to stay in the university, I try to find a job. And my first job is to become internet cafe operator. On the night shift from 9pm to 9am every day. And that's become blessing in disguise. Because this is year 1999. When internet is still a luxury product in my country. So that's the moment I have the idea to build Tokopedia. Because I see the inequality of opportunity. People in a small town, they don't have access. A local maker don't have access like a people in a big town. Their market is very limited. And also there is a trust between people that already connected through online. But they don't trust each other to do online transaction. And I see that internet marketplace model. Like Alibaba in China, eBay in US solve this problem. And I want to start the first online marketplace from Indonesia. But the problem is I don't have any capital to start. 10 years ago not the right year to start business. Because my father get cancer. And I'm the only worker in my family. So I try to raise money. Inspired by this Google founder, Facebook founder. Is a young entrepreneur that can start their business. Because they able to raise money. I try to pitch to all local rich that I know. By 2-3 years 2007, 2008 and 2009. Every time I pitch about the idea. No one believe about the idea. Because at that time people will ask me 5 questions. The first question they will ask. William, can you tell me one person in Indonesia. That being successful or wealthy. Because they are doing internet business. I cannot name one. There is no role model. The second, they are afraid about the competition. They said that you just want to beat. eBay of Indonesia or Alibaba of Indonesia. If you prove to the world that Indonesia need marketplace. Everyone will come. And how can you compete with them. They have a better capital. They have a better know how. They have a better technology. So fear of global competition. The industry do not have the track record. And then they will ask me my personal background as well. With family that you come from. I come from humble family. With university that you graduated from. I consider myself graduated from internet cafe. I never went overseas. I never went abroad. I didn't speak English until 2010. And then they also ask what is your entrepreneurship background. I never start any business before. I just work for internet cafe. And then work for a couple of local company. So I even not raised in an entrepreneur family. My father is also just another worker. So there is no track record of my personal background as well. And then one moment that changed my life. Is when this potential investors say to me. William, you only have your youth once in your life. So don't waste it. Don't daydreaming. Your role model is all come from Silicon Valley. They are all special person. They are born special. You are not. So find something more useful. And then that is the moment that I find a purpose of my life. Because the reasons I want to start my company. Is to solve trust issue. But when I want to start my business. I realize that it's all about trust. And unfortunately trust in emerging market. Or perhaps anywhere in the world. Is measure by a track record. Measure by your past history. Not by your future vision. My startup dream. I learned about how to fight as an underdog. And fight as an underdog. You need to have a treatings. The first things that I learned is having a corrects. That is the moment that I have a corrects. To believe that. Past is something that we can no longer change. But future. We can still save our own future. I have a corrects to believe that. This learning that I go through. Is actually become the purpose of my life. If I can build a marketplace. Like Tokopedia. Then I can help a lot of people. And I can help the next generation. To believe. And to have a platform. To start and grow their business online. So I start with a corrects. And then of course. The second things that I learned is about perseverance. I didn't speak English until 2010. But in 2010. There's a first momentum in Indonesia tech startup. Yahoo acquiring a small startup in Indonesia. And then for the first time Indonesia is in tech crunch. US based tech news. And then after that a lot of venture capital comes to Indonesia. Private equity and all comes to Indonesia. And I had opportunity to meet with them. I'm so excited. But for the first 10 minutes. I tried to pitch about my idea. They start to say that William. We don't understand you, you waste our time. Because I didn't. I understand English by reading and listening. But I have a difficult time. To have a conversation in English. Today I still speak broken English. Imagine 10 years ago. It's like very, very terrible. But I learned that I didn't have a choice. I need to have a global. Because Indonesia is an emerging market. And all the competition comes already. Only 6 months after we launch our product. eBay enters the market. And then one year after that Raku 10 enter the market. So all the global giants. When you're building a tech company. Since day one you need to be ready to compete with global players. So I know that I need to have a global exposure. So that's where I learned about the perseverance. I'm lucky enough to meet with Japanese investor. They have a history to invest in Indonesia market. And the English is also not very good. So they have a better empathy to my English. So they give me opportunity. Another story about perseverance for example. The first things that I did after I start my business. It goes to my university. Because I believe that starting a tech company is all about a people. I try to hiring people there. So I stand 2 days like this. I stand 2 days to convince a young colleague student to join my company. No one apply. Because no one believe that Indonesia or emerging company can build a technology company that can compete globally. And I'm a very in profit and side persons. So imagine. It's hurt me so much. But I learned that if I don't share my dream. Then no one will trust me and will join me. So I start to take opportunity like this. Speak in small forum and so on. And turn out today we already employ 1300 people. So it start from a small idea. A small journey. A lot of failure. But eventually with the correct perseverance we can make it. So why I can have that correct and perseverance. It's because of hope. When that moment when I heard about this advice. William don't waste your youth. You only live once. Don't day dreaming. I actually remind about the founding father of our country. That take our country to be independence. In senior Sukarno. He once said in a public that we need to dream very very high. So the word is a Bermimpilah setinggil angin jika kau jatuh kau akan jatuh di antara bintang-bintang. To dream as high as a sky. If you fall you will fall amongst a star. So to dream as high as a sky. If you fall you will fall amongst a star. So it's very sad for me when our country is founded by this visionary president that encourage everyone to dream as high as a sky. But we have our independence not only like 70 years. Today 72 years. We already as a generation forget to dream high. We already encourage the youth to not dreaming. To stop day dreaming. So that's a bit about my story. To share the session together. So if you have any questions about the startup dream or if you can share anything about your startup dream I'm happy to have that conversation. Thank you very much. India, there is a resource of technology people. Because all they went to America, they come back. Versus Indonesia, many of the highly educated people go back to their family business. So you don't have, he says Indonesia they don't have a resources for the venture business. What do you think about it? So it's a very true. But I think that we need to always change that situation. So like my original point we can no longer change the past but we can change the future. So I give example. First time when we want to start our company I stand 2 days no one want to join us. But last year during summer holiday then there's a message from 2 students from university. So this is Indonesia, William can we have summer internship at your company? So they are no longer join investment bank or like a consultant firm they are go back to Indonesia to join a tech company because they believe that this can have a big impact. And surprisingly after taking that summer internship one of them actually don't want to go back to school. They don't want to continue finish the MBA but I have a big problem to convince their parents. His mom and his dad don't want that idea. It's a son drop out of the school just to join the start up. So I think the situations can always be changed. Like today Tokopedia already have more than 1.5 million small business owner to start and grow their business online. So the entrepreneurship spirit is actually there and today the company is already multi billion dollar company something that we don't think of something that I never imagine at the early days of the company but I always believe that past we can no longer change but whatever the situations we can hope for the better future. So you mentioned the point that there is a lot of international competition which eventually comes into the country. So how do you stay ahead of them given they have all these of them and compete effectively? I always believe that internet generation is the luckiest generation ever because internet generation is the generation of underdog, the era of underdog. In the era of underdog it's about challenging the status quo against all the odds, somehow survive and eventually win. If we see that in US Google, they are not the first search engine in the world but they are challenging the status quo Alibaba in China they need to face the global competition like eBay, but they managed to become the biggest e-commerce company in China as well. At the early days, all the giants for them, they only treat Indonesia as expansion market, so they don't really localize the product to the local needs, while for us this is only our market so we really focus at that and the talent is so limited so you need to always you cannot find a talent that understand that, you need to nurture that and that's because I born in there I raised in there, I know what is the customer pain point. Actually, Jack Ma is one of my idol and today he become my biggest competition in the market. So he once said like this in China market, he said that eBay is like suck in the ocean, Alibaba is like crocodile in the river and crocodile fight in the ocean suck will win, but if suck fight with the crocodile in the Yangtze river then crocodile should win this is about the local wisdom when they acquire a rocket internet company become our competition 2 years ago I tell to all my teams we need to be commodo in the island because Indonesia have 17,000 island all the river is already have a crocodile, all the oceans is already have the globalization but we as a local entrepreneur and as a local people we should be the commodo in the island so if suck and the crocodile goes to the island, commodo should fight and commodo should win so like that so if there is no other questions perhaps I can share another story so perhaps I will share a story about Tokopedia is actually the first internet company in Southeast Asia that raised 100 million dollar dan sekuaya kapital in end of September 2014 the company that I lead only have 3 months runway left and that's the competition is so fierce at that time and then my wife at that time still my girlfriend she ask me to go for holiday she studied medicine 7 years finally she graduated and I start my company almost 7 years and she said that William we both work so hard now I am graduated let's go for holiday I want to go to Japan and I said that oh I cannot my company will die if I cannot I cannot close around in the next 3 months but after that I think that I am very selfish so I actually plan for a secret trip to follow her to Japan so she decided to go holiday by herself but then I decided that I need to follow her but secretly because I want to propose to her but surprisingly on the end of September I get a phone call from Sohbang and they say that William can you fly to meet with our chairman Mr. Masa which is shown in 2nd of October from Indonesia I need visa to go to Tokyo but because of I already have a plan I have a secret proposal I have the visa so I am very lucky persons I say yes I can go to Tokyo and then on the last day of that before I fly to Tokyo my early sehore Satohsan call me he say that William Sequoia partner is in the town can you meet with them and I say that of course I can so this is 2pm to 3pm I spend a time with them company and so on by 7pm I am on the car go to the airport and then I got another call from Sequoia capital and then they ask William can you meet with us tomorrow I say that no I cannot I am on the way to airport and they ask where do you go to I say that I am flying to Osaka tonight surprisingly when I arrive at Osaka they surprise me and then they chat with me until 5pm and then I say that sorry I really need to go I am here to propose to a girl right and then at that night I figure out where my girlfriend is and I propose luckily she say yes after she so happy I say that sorry I need to fly to Tokyo because it is Osaka and then the day after that I met with Masoi Shishon and after 1 hour meeting he decided to invest in the company so actually in some Japanese article they say that there is a week of 3 proposal and luckily everyone say yes so sometimes life is like that so it is a lot of serendipity it is a lot of luck play a part of that you cannot really design that but if you work hard if you have this courage have this perseverance that the doors will suddenly open for you what do you think of the obstacles for budding entrepreneurs that are specific to Southeast Asia what are the challenges that are unique to this region for people who don't have as much luck I think a lot is a mindset the obstacle is a mindset from within is a mindset and from the environment at first 10 years ago is an access to the capital but today we can see Southeast Asia alone there is a 7 company value more than a billion dollar company attack company, one in Vietnam 3 in Indonesia, 3 in Singapore so access to capital is no longer an issue but talent is still an issue so this is no silicon valley you cannot just hire a good quality engineer from the ground but this challenge this obstacle is obstacle for everyone so if you can solve this faster and better not just the mindset how to fight and underdog so the culture of our company is really the culture of underdog we will always have lack of resources but we cannot wait until we have the resources we cannot wait until we have the talent to start fight with the global giants so you need to figure out what is your strength in this exposure or limited talent it's about understanding the consumer in the end when we build a product it's always about the quality of services or the quality of product will customer enjoy it will customer love it so we really focus on that so obstacle will always be there but I always believe that's actually opportunity not an obstacle imagine like for us to identify the problem to identify this obstacle to live that obstacle on the daily basis will be easier for us to solve that problem imagine if the headquarter is somewhere in California or somewhere in Beijing it is very difficult to really understand that obstacle and relate to that obstacle and figure out the solution of that