Ma Yun recently said in Taiwan that during the 15 years of entrepreneurship, the two most frustrating things were to enter the US market and buy YAHOO China.

The following is the full report:

Ma Yun, the chairman of Alibaba's board of directors, is the new Asian richest man.

But in the 15 years of successful entrepreneurship, there are also setbacks.

Including entering the US market and buying YAHOO China is the two most frustrating thing for him.

Ma Yun said that if possible, he would like to write a book on the 1001 mistakes of Alibaba, because "mistakes are more valuable than the experience gained."

For many years, he has been thinking about "what is globalization?" globalization does not mean that there are factories abroad, nor does it mean having business abroad.

Business abroad

It is not equal to a globalized enterprise, nor is there a business without a business abroad, nor does it mean that there is no globalization.

When the time came back to 2000, when Alibaba just raised money, many young people in Silicon Valley were invited to do trade between China and the United States.

But in Silicon Valley, it was discovered that foreigners who speak English do not understand trade, and those who know technology do not understand trade.

It was founded in Silicon Valley for three months, recruiting 70~80 people, but finally found that "these people are not what we want," so we have to lay off workers.

Ma said, "I was very depressed at that time". Some employees signed the agreement in the morning, but decided to lay off workers in the afternoon.

Ma Yun said, "I was very miserable at the time and I doubted whether I could carry it down." when I lay off the staff, I asked the employees whether they wanted two cents or a share of the stock or $2000, and most of them chose cash.

Ma Yun said, "do not go out easily without thinking clearly what you can do for the society."

This incident gave him a deep reflection.

The second frustrate thing is that Alibaba bought YAHOO China.

After one or two years of integration, it is found that the process of integration is "extremely painful".

Ma Yun also got an experience from this incident. What the enterprise is looking for is not necessarily the best talent, but the most suitable person.

It's tragic that a tractor is equipped with a 747 aircraft engine.