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Joe turned his $600 annual salary into a $600 billion empire.
Here& #39;s the crazy story
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Here& #39;s the crazy story
Joe Tsai was born in January 1964 in Taipei, Taiwan.
His Dad was a lawyer and the 1st Taiwanese person to receive a degree from Yale Law.
His Dad was a lawyer and the 1st Taiwanese person to receive a degree from Yale Law.
His family leaves Taiwan and he enrolls at a US boarding school called Lawrenceville.
He goes to Yale undergrad and then earns a Yale Law degree.
He goes to Yale undergrad and then earns a Yale Law degree.
His early career:
• works at law firm Sullivan & Cromwell
• joins private equity firm Rosecliff Inc
In 1995, Joe moves to Hong Kong to join a Swedish investment firm called Investor AB.
• works at law firm Sullivan & Cromwell
• joins private equity firm Rosecliff Inc
In 1995, Joe moves to Hong Kong to join a Swedish investment firm called Investor AB.
For 4 years, Joe led Asian investments and is making $800,000 per year.
He& #39;s 28 years old and seems to have everything planned out.
He& #39;s 28 years old and seems to have everything planned out.
In May 1999, Joe& #39;s friend reaches out to him.
"Joe, you have to meet this guy in Hangzhou (China).
He& #39;s kind of crazy, but..."
"Joe, you have to meet this guy in Hangzhou (China).
He& #39;s kind of crazy, but..."
So Joe jumps on a plane to China to meet with this guy.
His name is Jack Ma.
Joe quickly realizes that Ma only had a side project.
No incorporation.
No funding.
Just a website called Alibaba.
His name is Jack Ma.
Joe quickly realizes that Ma only had a side project.
No incorporation.
No funding.
Just a website called Alibaba.
He had built one of China& #39;s first ever English websites.
It was a glorified online bulletin board for import and exports.
It was a glorified online bulletin board for import and exports.
But Joe is still immediately impressed by Ma& #39;s personality.
Oozing charisma.
A big vision.
Jack Ma pitches him,
"Ok, we have these millions of Chinese factories.
How do I help them to get exposure to the Western world?"
Oozing charisma.
A big vision.
Jack Ma pitches him,
"Ok, we have these millions of Chinese factories.
How do I help them to get exposure to the Western world?"
Joe thought it was a good idea.
But nothing that innovative...
It was basically putting a bunch of Chinese factories online.
But nothing that innovative...
It was basically putting a bunch of Chinese factories online.
At this point, Jack Ma was teaching English.
16 of his these students had already joined him to work on Alibaba.
They were cramped in 1 apartment with 0 revenue.
16 of his these students had already joined him to work on Alibaba.
They were cramped in 1 apartment with 0 revenue.
After the meeting, Tsai thought to himself:
"Wow, this is a guy who can really get people together.
He& #39;s a great leader. He can really build something.”
A leader that can mobilize is a force to be reckoned with.
"Wow, this is a guy who can really get people together.
He& #39;s a great leader. He can really build something.”
A leader that can mobilize is a force to be reckoned with.
Joe quits his $800,000 per year job to join this business with 0 revenue and 28,000 users.
His first salary at Alibaba?
$600 per YEAR.
His first salary at Alibaba?
$600 per YEAR.
He was the first person outside of China to join the team.
And Joe& #39;s background as a lawyer came in handy.
His first jobs:
Incorporate Alibaba and raise money.
And Joe& #39;s background as a lawyer came in handy.
His first jobs:
Incorporate Alibaba and raise money.
Over the next 20 years, Alibaba became one of the largest companies in the world:
• $600 billion valuation
• $100+ billion revenue
• 750 million total users
Joe acted as CFO, COO, and now Executive Vice Chairman.
• $600 billion valuation
• $100+ billion revenue
• 750 million total users
Joe acted as CFO, COO, and now Executive Vice Chairman.
Fun Fact: @joetsai1999 and I are both Yale lacrosse alums
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