When I started Alibaba, banks were skeptical about our payment system, claiming it would never work, but I knew that without a payment solution, e-commerce would not succeed.

Creating trust was essential for Alibaba's success, especially since people in China were used to face-to-face transactions. In today's world, trust is lacking among people, governments, and media, but e-commerce facilitates 60 million transactions daily, creating a system of trust despite the anonymity between buyers and sellers.

We are solving a complex problem of creating an Amazon-like experience without warehouses or inventory, as retailers come online for the first time.

I believe in being comfortable with criticism; our customers clearly wanted e-commerce, and I had the conviction to push for it despite challenges.

I realized that Amazon is not just a retailer; it's a massive technology operation, operating at a scale I had never seen before.

AI will be as transformative as electricity, creating new products and categories that we can't yet envision.

The name 'Alibaba' was chosen because it's a global name that people recognize, and it represents trust and opportunity.

We envision a consumer electronics industry that is fundamentally different in 20 years, driven by a more efficient business model that benefits both the company and customers.

Many people thought my idea for Alipay was foolish, but I believed that as long as people used it, it would succeed. Now, we have 800 million users, proving that the idea was not stupid.