Rating: Good
The House That Jack Ma Built blurb excerpt: In just a decade and a half Jack Ma, a man who rose from humble beginnings and started his career as an English teacher, founded and built Alibaba into the second largest Internet company in the world. The company’s $25 billion IPO in 2014 was the world’s largest, valuing the company more than Facebook or Coca-Cola.
Granted unprecedented access to a wealth of new material including exclusive interviews, Clark draws on his own first-hand experience of key figures integral to Alibaba’s rise to create an authoritative, compelling narrative account of how Alibaba and its charismatic creator have transformed the way that Chinese exercise their newfound economic freedom, inspiring entrepreneurs around the world and infuriating others, turning the tables on the Silicon Valley giants who have tried to stand in his way.
My opinion: A misleading title but a really enjoyable read. The book provides some great insights into the economy and culture of China framed around the rise of Alibaba and the experiences of Jack Ma. There was not as much about Jack as you might assume looking at the cover, but the content on China, the evolution of their tech scene, the competition Alibaba faced, fundraising, as well the rise of the Chinese tech giants made for an interesting read.
Lessons from Alibaba: The House That Jack Ma Built :
The iron triangle made up of e-commerce, logistics, and finance are at the center of Alibaba’s advantage.
Where there is an incumbent in a market only serving a small percentage of the addressable market, don't waste a companies efforts trying to earn that audience. Instead focus on attracting, converting, and retaining the larger non-addressed audience. Alibaba Culture:
They adopt the philosophy of customer first, employees second, shareholders third.
Tandem bicycles are found at the office to symbolize and emphasize teamwork above the individual’s needs.
They offer employees a 50k interest-free loan to purchase a property.
Every employee is asked to adopt a nickname.
Employees are encouraged not to complain but rather shoulder the responsibility for creating a solution.
Face-to-face visits are a key part of their sales methods and a reason for their success.
Alibaba places and emphasis on the process, not the outcomes (results).
Recognition of high performers is announced publicly to the entire company.
Staff are frequently rotated through different departments and geographical regions - regardless of performance.
‘Six Vein Spirit Sword’
Customer-first
Teamwork
Embrace change
Integrity
Passion
Commitment
Commitment to six veins of the spirit sword equates to 50% of a staff member's appraisal.
Other enduring themes:
Don’t let your setbacks deter you - Jack had failed in school, business, and career pursuits multiple times prior. However, he remained focused on his goals.
In good relationships, there is great power and potential - multiple times in the book the combination of Jack's relationships and good timing paved the path for opportunities and success.
Resourcefulness counts for more than resources - he didn't have a great education, come from wealth, or have any technical skills yet he made it through relationships, resourcefulness, and risk-taking.
Think long term and diversify your income streams - Alibaba has the goal of being a 102-year-old company and it's not going to get there on the back of one offering, company, or vertical. Its multiple business interests not only minimize risk and volatility but also synergistically benefit the entire portfolio.
A few great stories told well can create a compelling brand narrative.
Alibaba: The House That Jack Ma Built Best Quotes:
“Work happily, but live seriously”
"Today is brutal. Tomorrow is more brutal. But the day after that is beautiful. However, most people die tomorrow night"
What Next:
If you are interested in this book, you may want to check out our list of Biographies that have been reviewed.
My personal recommendation for those who loved this book - Shoe Dog: A Memoir by the Creator of Nike
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