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CNBC Exclusive: CNBC Transcript: Alibaba Founder & Executive Chairman Jack Ma Speaks One-on-One with CNBC's David Faber Today on CNBC's "Power Lunch"

WHEN: Today, Wednesday, June 10th

WHERE: CNBC's "Power Lunch"

Following is the unofficial transcript of a CNBC EXCLUSIVE interview with Alibaba Founder & Executive Chairman Jack Ma and CNBC's David Faber on "Power Lunch" (M-F, 1PM-3PM ET) today. Following is a link to the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000387458.

All references must be sourced to CNBC.

DAVID FABER: WE ARE HERE AT THE KNICKERBOCKER HOTEL JOINED BY JACK MA, CHAIRMAN AND FOUNDER OF ALIBABA. YOU JUST SPOKE TO A FEW HUNDRED SMALL BUSINESS PEOPLE. YESTERDAY I HEARD YOU IN FRONT OF THE ECONOMIC CLUB IN NEW YORK. JACK, ITS FUNNY, YEARS AGO I SAT DOWN WITH A GENTLEMAN PIERRE OMIDYAR WHO WAS THE CHAIRMAN AND FOUNDER OF EBAY. HE TALKED TO ME ABOUT SIMILAR ASPIRATIONS. A GLOBAL MARKETPLACE FOR EBAY WHERE SMALL BUSINESSES COULD SELL THEIR GOODS TO ANYONE IN THE WORLD. EBAY DID NOT DO PARTICULARLY WELL IN YOUR HOME MARKET WITH FINDING BUYERS, BUT THEY HAVE DONE A PRETTY GOOD JOB FINDING THE SELLERS. WHY GO THROUGH ALL THIS? WHY NOT JUST BUY EBAY?

JACK MA: WELL, IF YOU WANT TO BUY I THINK FIRST, I DONT KNOW THEY WANT TO SELL. AND THE SECOND WE HAVE TO THINK ABOUT ONE THING. IF YOURE DOING BUSINESS, NOT THAT SIMPLE TO ONLY BUY. YOU HAVE TO CREATE SOMETHING. YOU HAVE TO CREATE SOMETHING THAT NEVER EXIST FOR THE FUTURE. SO WE FOCUS MORE THINKING ABOUT THE NEXT 10, 20 YEARS, HOW WE CAN DO – IF EBAY DIDN'T SUCCEED WHY WE CAN BE SUCCESSFUL. WHAT THINGS WE SHOULD DO DIFFERENTLY, SO I THINK THE INTERNER IS SO YOUNG AND TO BUY BIG COMPANIES TO DIGEST LIKE US IT IS NOT EASY SO WE HAVE TO THINK ABOUT HOW WE DEVELOP OURSELF.

FABER: AND WHEN YOU THINK ABOUT EBAY AND AGAIN I THINK THEY HAVE DONE A FAIRLY GOOD JOB GETTING SMALL BUSINESSES ON THE PLATFORM TO SELL TO OTHERS IN THIS COUNTRY. BUT THE IDEA OF A GLOBAL MARKETPLACE, WHY ARE YOU BE ABLE TO SUCCEED WHERE OTHERS PERHAPS HAVE NOT?

MA: WE FOCUS ON HELPING SMALL BUSINESS. I THINK THIS TIME BECAUSE WE HAVE A 350 MILLION BUYERS IN CHINA. SO WE THINK ABOUT BRINGING THE AMERICAN SMALL BUSINESS TO CHINA, BRINGING EUROPEAN SMALL BUSINESS TO CHINA, BECAUSE WE CAN SHOW THE BUY SIDE WILL BE EASIER. IF YOU DONT HAVE THE BUY SIDE, IT IS DIFFICULT TO HAVE THE SUPPLY SIDE. WHEN WE HAVE SUCH A HUGE DEMAND IN CHINA ESPECIALLY LAST YEAR OUR GME IS 390 BILLION DOLLARS, FOR THAT DEMAND COULD SUPPORT MILLIONS AND MILLIONS OF SMALL BUSINESS OUTSIDE CHINA.

FABER: YOU HAD GREAT SUCCESS IN CHINA AS YOU POINTED OUT OF COURSE THE MIDDLE CLASS IS DOING NOTHING BUT GROWING IN THAT COUNTRY. 300 MILLION NOW. PERHAPS HALF A BILLION IN NOT THAT LONG. BUT WHY NOT JUST KEEP IT IN CHINA? WHY NOT JUST ENJOY THE FRUITS OF YOUR LABOR THERE AND CONTINUE TO DOMINATE WITH THE GROWING MIDDLE CLASS BUYING FROM THOSE WHO ARE SUPPLYING IN THE SAME COUNTRY?

MA: I THINK THIS IS OUR MISSION. HELPING DOING BUSINESS EASIER, WE CHOOSE THE NAME ALIBABA BECAUSE IT IS A GLOBAL COMPANY. IT IS FOUNDED IN CHINA BUT IT WAS CREATED FOR THE WORLD. I THINK OUR GOAL IS THE NEXT TEN YEARS I HOPE THAT 40% OF OUR GNV IS FROM OUTSIDE CHINA. NOT BECAUSE WE NEED MONEY FROM OUTSIDE OF THE WORLD. BECAUSE OUR MISSION MAKING SURE WE HELPING SMALL BUSINESS DOING BUSINESS EASY ANYWHERE IN THE WORLD.

FABER: 40%.

MA: YES.

FABER: YOURE TALKING ALMOST FROM NOTHING RIGHT NOW.

MA: YEAH. THATS WHY WE ARE WORKING VERY AGGRESSIVE. THATS WHY I COME TO THE STATES. I GO TO EUROPE AND I GO TO AFRICA. I GO TO EVERYWHERE THAT SMALL BUSINESS. I THINK IT IS OPPORTUNITY FOR EVERYONE.

FABER: YOU RECENTLY DID A DEAL I THINK WITH SOFTBANK IN JAPAN AS WELL TO PROMOTE JAPANESE IMPORTS IN CHINA TOO.

MA: YES. AND KOREA.

FABER: AND KOREA. SO THIS IS WHAT YOURE GOING TO BE FOCUSED ON. WITH THE BELIEF THAT THIS CAN BECOME A REAL PART OF THE OVERALL ALIBABA MARKETPLACE AND PLATFORM.

MA: YES. YES. AND THE OTHER THING IS, BECAUSE THE DEMAND FOR CHINA IS HUGE, BECAUSE CHINA TODAY THE POPULATION OF MIDDLE CLASS IS ALMOST THE SAME SIZE AS AMERICAN POPULATION. AND I THINK IN TEN YEARS WE HAVE MORE THAN HALF BILLION MIDDLE CLASS. CHINA SHOULD CHANGE FROM EXPORTING COUNTRY TO IMPORTING COUNTRY. CHINA WILL BE THE LARGEST BUYER OF THE WORLD IN NEXT 10, 20 YEARS. SO WE NEED PRODUCTS FROM OUTSIDE CHINA.

FABER: YOU SAID YOUR REMARKS IN FRONT OF THE SMALL BUSINESS PEOPLE JUST MOMENTS AGO, WELL NEVER SEE BLUE SKY AGAIN IN CHINA IF WE KEEP EXPORTING.

MA: OF COURSE BECAUSE YOU BUY OILS AND BURN THE COALS AND MANUFACTURING ITS GOING TO BE TOUGH.

FABER: DO YOU THINK THAT THAT CHANGE CAN REALLY TAKE PLACE EVEN IN TEN YEARS? YOURE TALKING ABOUT AN EXPORT-LED ECONOMY THAT HAS LED HUNDREDS OF MILLIONS OF PEOPLE OUT OF POVERTY AND OUT OF THE FARMS AND INTO THE CITIES. WHY WOULD YOU WANT TO CHANGE IT?

MA: I THINK CHINA MUST CHANGE IT BECAUSE ITS BEEN THIS KIND OF MODEL FOR 30 YEARS AND I THINK NEXT 30 YEARS, BECAUSE OF THE INTERNET, BECAUSE OF THE NEW GLOBALIZATION WAY, I THINK IF WE DO NOT CHANGE IT, CHINA IS PAYING ATTENTION TO THE AIR, THE WATER, THE FOOD SAFETY AND ALL THE CLIMATE CHANGE. THESE THINGS WILL HELP CHINA TO CHANGE FASTER.

FABER: I NOTICED THAT IN YOUR REMARKS WHEN YOU DO TALK ABOUT SUCCESS ALREADY IN GETTING SMALL BUSINESS TO SELL INTO CHINA, IT IS TYPICALLY AGRICULTURE. ITS CHERRIES FROM SEATTLE, YOU MENTIONED, FROM WASHINGTON. IT IS ALASKAN SEAFOOD. IS THAT YOUR EXPECTATION THAT MUCH OF WHAT WILL REPRESENT THAT TRADE WILL BE OUT OF THE U.S. GROUND OR TREES OR WATERS?

MA: YEAH. GROUND, TREES, THATS THE FOOD AND BABY THINGS AND ALSO I THINK THE COSMETICS AND THE U.S. BRANDED PRODUCTS. CHINA HAS A HUGE DEMAND THERE. AND I THINK VERY IMPORTANT IS THE INNOVATIVE NEW PRODUCTS IN AMERICA THAT SMALL BUSINESS CREATED. BECAUSE BIG COMPANIES ALREADY EVERYWHERE IN AMERICA.

FABER: WHAT WOULD BE AN INNOVATIVE THAT WOULD COME FROM THIS COUNTRY TO CHINA THAT YOU WOULD BE INTERESTED IN?

MA: EVERY TIME I WALK ON TO SOME SMALL STREET AND SEE THE BABY PRODUCTS, SEE THE TOYS, AND – I THINK THESE THINGS COULD BE FANTASTIC IN CHINA.

FABER: ARENT THEY PROBABLY ALREADY MANUFACTURED THERE, EVEN IF THE IDEA IS HERE?

MA: WELL, NOT REALLY. NOT REALLY. THIS MORNING I MET SOME COMPANIES MAKING CANDIES. I THINK CHINESE PEOPLE WOULD LOVE IT.

FABER: SO YOURE LOOKING FOR ANYTHING YOU CAN POSSIBLY GET TO SELL.

MA: ANYTHING. ANYTHING, YEAH.

FABER: I WONDER, I WATCH YOU HERE OF COURSE AND THE RECEPTION THAT YOU GET. TO ME, YOURE A WALKING EMBODIMENT OF THE POSITIVE RELATIONSHIP CONCEIVABLY BETWEEN OUR COUNTRY AND CHINA. BUT IT IS FRAUGHT WITH TENSION. BARELY A DAY GOES BY WHERE WE DONT SEEM TO HAVE ACQUISITIONS OF CYBER ESPIONAGE, BY THE CHINESE GOVERNMENT AGAINST VARIOUS ENTITIES HERE, THE SOUTH CHINA SEA TENSIONS ON THE MILITARY FRONT ARE SIGNIFICANT. DO YOU WORRY AT ALL ABOUT THOSE TENSIONS BECOMING SO GREAT THAT IT AFFECTS YOUR ABILITY TO SUCCEED IN WHAT YOU SAY YOURE TRYING TO DO?

MA: WELL, IF YOU SAY DONT WORRY, THATS NOT TRUE BUT IF I WORRY WHAT CAN I DO. SO I THINK BECAUSE OF INTERNET PEOPLE GET TO KNOW EACH OTHER BETTER. TWO NATIONS SHOULD START TO RESPECT EACH OTHER, APPRECIATE EACH OTHER. TODAY SOME OF THE RELATIONS LIKE A CHICKEN TALKS TO DUCKS. EVERYBODY HAS HIS OWN LANGUAGE. AND I THINK PEOPLE JUST SIT DOWN AND TALK ABOUT THE SAME THING THAT WE WORRY ABOUT TOGETHER. YESTERDAY, THE DISEASE. THE POVERTY. THE CLIMATE CHANGE. THERE ARE BIG PROBLEMS THAT CHANGE THE WORLD. IF WE ARE WORKING TOGETHER, THAT WILL MAKE US UNDERSTAND EACH OTHER, APPRECIATE EACH OTHER, HELP EACH OTHER. BUT TODAY I THINK, YOU KNOW, THINGS HAPPENING BUT IM PRETTY CONFIDENT.

FABER: YOU ARE?

MA: IM PRETTY CONFIDENT.

FABER: YOU'RE CONFIDENT THAT THESE ISSUES, AND THEYRE NOT INSIGNIFICANT, CAN BE OVERCOME TO THE EXTENT THAT TRADE WILL CONTINUE IN A POSITIVE MANNER?

MA: I THINK WE'RE – I'M CONFIDENT. I THINK THE YOUNG PEOPLE OF THIS GENERATION, AND WE HAVE THE HISTORY BETWEEN CHINA AND THE U.S.A. AND THE U.S.A. AND THE SOVIET UNION. WE HAVE A LOT OF DISASTER IN HISTORY. BUT WE ALL SOLVE IT. WHY WE CANNOT SOLVE PROBLEMS NOW? BUT WE JUST SIT DOWN, LISTEN AND TALK AND COMMUNICATE AND DO SOMETHING TOGETHER, THINGS WILL BE SOLVED. THATS MY BELIEF.

FABER: WELL, IT IS GREAT TO LISTEN TO YOU SAY IT. I HOPE TO BELIEVE IT. YOU HAVE A LOT OF FAITH OF COURSE IN THE YOUNGER GENERATION. I WOULD POINT OUT I THINK YOU HAVE – YOUR ENTIRE MANAGEMENT TEAM WAS BORN POST-70s.

MA: YES.

FABER: AND I THINK I WROTE SOMETHING DOWN HERE. I JUST WANT TO MAKE SURE I'VE GOT IT. WHY IN YOUR OPINION IS THE POST-70s GENERATION "BETTER AT DEVELOPING THE FUTURE"?

MA: I THINK YOUNG GENERATION IS ALWAYS BETTER THAN LAST GENERATION. NO MATTER YOU LIKE IT OR DON'T LIKE IT. MY FATHER SAID, JACK, I'M SO GOOD, YOU'LL NEVER BE – BUT I'M BETTER THAN HIM. MY FATHER IS BETTER THAN MY GRANDFATHER. MY CHILDREN WILL BE BETTER THAN US. AND I THINK BECAUSE THE INTERNET IS SUCH FASTER GROWING, YOU ARE LOOKING FOR SUCCESSES. YOU SHOULD LOOK FOR SUCCESS WHEN YOU ARE YOUNG. AND LEAVING SOME OPPORTUNITY AND CHANCE FOR THEM TO MAKE MISTAKES. AND SUPPORTING THEM WHEN THEY MAKE MISTAKES. SO I THINK TODAY FOR ALL THE ALIBABA SENIOR MANAGEMENT WHO ARE BORN IN 60s, THEY STEP DOWN FROM EXECUTIVE CHAIRS, SUPPORTING THE 70s. NOW WE HAVE MORE THAN 48%, 47% OF THE SENIOR MANAGEMENT ARE 70s. AND 50% ARE 80s.

FABER: IN THE 80s.

MA: 80s. AND WE'VE GOT A 3,000 90s THAT ARE JOINING. THIS IS THE HOPE OF THE COMPANY. IF THE AVERAGE AGE OF THE COMPANY OF ALIBABA WAS 65, WE'RE DEAD.

FABER: ANYTHING YOU WANT TO TELL JEFF BEZOS WHO'S 51 YEARS OLD? AND CEO OF AMAZON.

MA: WELL, I THINK HE'S ENERGETIC. HE'S STILL WORKING HARD WHICH HIS GOOD. FOR EVERYBODY, IT IS A DIFFERENT STRATEGY. FOR ME, IF YOU WANT TO KEEP THIS COMPANY INNOVATIVE, IF YOU WANT THE COMPANY TO CATCH THE FUTURE, KEEP THE VISION. RELY ON THE YOUNG PEOPLE. I DON'T KNOW JEFF. JEFF'S IDEA MAYBE HE HAS HIS IDEA BUT I THINK –

FABER: ITS GONE PRETTY WELL FOR HIM, TOO.

MA: YEAH. YEAH.

FABER: LAST TIME WE SPOKE IT WAS NOVEMBER, OF COURSE IT WAS SINGLES DAY, AND I WAS WITH YOU IN CHINA. THE STOCK PRICE WAS AT AN ALL-TIME HIGH. YOU DIDN'T SEEM PARTICULARLY EXCITED ABOUT IT. BUT I'M CURIOUS, SINCE THEN IT'S DOWN RATHER SHARPLY. ARE YOU UPSET ABOUT THE DECLINE IN STOCK PRICE?

MA: NO. WHEN THEY GO UP, I'M NOT EXCITED. WHEN IT GO DOWN, I NEVER DEPRESSED. THIS IS HOW PEOPLE LOOK AT AND WHAT WE SHOULD FOCUS ON AS OUR BUSINESS, OUR CUSTOMER, OUR EMPLOYEES AS THE SAME BECAUSE WHAT ARE YOU GOING TO DO? YOU GOING TO GO ON THE STREET TELLING PEOPLE MY STOCK IS TOO LOW? OR ARE YOU GOING TO SAY MY STOCKS TOO HIGH? FORGET ABOUT THAT. JUST FOCUSING ON CREATE THE BUSINESS. AND ITS ONLY BEEN SIX – I DON'T KNOW, HOW MANY MONTHS? SEVEN? EIGHT?

FABER: IT WAS AUGUST, RIGHT? WHEN YOU WENT PUBLIC, RIGHT?

MA: YEAH. NO SEPTEMBER.

FABER: OH SEPTEMBER, YEAH SORRY.

MA: YEAH THEN I GOT A LITTLE BIT MORE THAN HALF YEAR. SO WHAT TO WORRY ABOUT? WE WANT TO LIVE FOR ANOTHER 86 YEARS TO GO. SO DON'T – 6 MONTHS, UP AND DOWN, IT'S JUST LIKE A STORM COMES AND GOES.

FABER: BUT IT IS A REPORT CARD SOME CEOs SAY AND YOU ARE CHAIRMAN. ON YOUR COMPANY. AND SOMETIMES PEOPLE TELL ME, "WELL, YOU KNOW, YEAH, I DON'T PAY ATTENTION TO IT BUT LONGER TERM I LIKE TO SEE IT HIGHER."

MA: SURE. OF COURSE. THAT IS WHAT WE ARE FIGHTING FOR, BUT HOW CAN YOU DO IT FOR THE SHORT TERM? THERE ARE SO MANY THINGS HAPPENING AND SOMETHING THAT IT HAS NOTHING TO DO. BECAUSE LOT OF – OUR SERVICE IS NOT BEING USED IN AMERICA, SO A LOT OF INVESTORS DON'T KNOW US. THEY HAVE HEARD ABOUT ALIBABA. IT IS AN INTERESTING COMPANY, FUNNY NAME AND STRANGE CEO. BUT THEY DONT KNOW EXACTLY WHAT THE SERVICE IS. SO TAKES TIME. I HAVE PATIENCE. THEY WILL LEARN. THEY WILL KNOW WHO WE ARE AND WHAT WERE DOING.

FABER: AND IF THEY HAVE HEARD OF IT, IT OFTENTIMES MAY BE PART OF A CONVERSATION ABOUT YAHOO!. I BRING THAT UP BECAUSE OF COURSE YAHOO! IS GOING TO BE SPINNING OFF ITS SIGNIFICANT STAKE IN ALIBABA INTO ITS OWN PUBLICLY TRADED COMPANY. THERE ARE THOSE WHO SAY, "WHY NOT JUST BUY THAT COMPANY WHEN IT GETS SPUN OFF, IT WILL BE A HUGE BUYBACK OF STOCK FOR ALIBABA." WOULD YOU DO IT?

MA: I THINK THE AMERICAN – I THINK THAT THE BUSINESS THEY THINK TOO MUCH ABOUT BUY AND ACQUIRE AND THINGS. FOR ME PERSONALLY, AS ENTREPRENEUR, I'M MORE INTERESTED IN BUILDING UP THE BUSINESS BECAUSE IF THE CHANCE IS GOOD, YOU HAVE TO DO IT. YOU DO IT. RIGHT? BUT DONT THINK ALWAYS BUY. I THINK YOU MENTIONED EBAY AND YOU TALK ABOUT YAHOO! THEY ARE GREAT COMPANIES. THEYRE STILL GOING ON. THEY DONT WANT TO SELL AND I HAVE A LOT OF THINGS TO DO BECAUSE I HAVE SO MANY – AFTER IPO FOR SIX MONTHS, SO MANY THINGS NEED TO BE DONE. RIGHT? SO WHY SHOULD THINKING ABOUT BUYING OTHERS INSTEAD OF BUILDING UP THINGS OURSELF.

FABER: RIGHT. ALTHOUGH IN THIS CASE, I WAS TALKING SPECIFICALLY ABOUT JUST YOUR OWN SHARES THAT WILL BE ITS OWN COMPANY. I WASN'T TALKING ABOUT BUYING YAHOO!. BUT THAT'S NOT SOMETHING YOU THINK YOU'LL CONSIDER?

MA: NO.

FABER: YOU WON'T.

MA: NO. I THINK RESPECT THE SHAREHOLDERS DECISION. WHETHER THEY SPIN IT OFF, THEY PUT IT INSIDE. FOR US, WE HAVE TO FOCUS ON DOING WHAT WE BELIEVE IS RIGHT.

FABER: THAT DOESNT STOP YOU FROM BUYING THINGS. I MEAN, CHINA BUSINESS NEWS – INVESTING I SHOULD SAY. NOT BUYING OUTRIGHT.

MA: YEAH.

FABER: SNAPCHAT YOU INVESTED $200 MILLION. ZULILY. ALIBABA PICTURES. I MEAN, YOU ARE THROWING MONEY AROUND, AREN'T YOU? WHY?

MA: INVESTING, WE ARE NOT THROWING MONEY AROUND. I THINK WE ARE PRETTY CONFIDENT IN THE NEXT TEN YEARS FOR OUR E-COMMERCE BUSINESS, OUR FINANCING BUSINESS. BUT WE THINK ABOUT TEN YEARS LATER WHAT ARE THE KEY BUSINESS. WE WILL FOCUS ON HEALTH AND HAPPINESS. THESE ARE THE TWO THINGS THAT AREA FOR GROWTH. WE START TESTING NOW, WE START TO INVEST NOW, WE START TO LEARN HOW NOW. BECAUSE I THINK IF YOU BUY A BUSINESS AND THE BUSINESS IS BOUGHT AND SUCCEED NEXT YEAR, THERE MAY BE SOMETHING WRONG WITH YOUR BUSINESS. GOOD BUSINESS TAKES TIME TO BUILD. SO FOR THE PICTURES, FOR THE HEALTH, FOR THE MEDIA THINGS, WE BELIEVE TEN YEARS LATER, OR AT LEAST EIGHT YEARS IT WILL BE GOOD. SO WE HAVE TO START TO BUILD UP OUR TEAM AND UNDERSTAND THE BUSINESS AND UNDERSTAND THE INDUSTRY. BY DOING THAT – BECAUSE ALIBABA HAS DONE A BUILD LAST YEAR. WEVE BEEN BUILDING FOR 15 YEARS. EVERY TIME WHEN I TRY TO DO SOMETHING FOR – IF I DO THIS YEAR, WILL IT SUCCEED NEXT MONTH? I ALWAYS FAIL. BUT WHEN I DECIDE TO DO SOMETHING, WE WILL BE SUCCESSFUL IN FIVE, TEN YEARS, WE ALWAYS HAVE CHANCE.

FABER: AND THAT'S HOW YOU'RE GOING TO JUDGE YOURSELF.

MA: THAT IS HOW WE ARE GOING TO DO IT.

FABER: EVEN THOUGH, IT'S FUNNY – I SPEAK TO INVESTORS ALL DAY LONG. AND YOUR NEXT QUARTERLY EARNINGS THEY WILL BE FOCUSED. WELL, WHAT WAS THE GMV? WHAT WAS THE TAKE RATE? HOW MUCH WAS MOBILE? AND THEY'LL MAKE DECISIONS TO BUY AND SELL YOUR STOCK BASED ON WHAT THEY SEE IN THE QUARTERLY BASIS, WHEREAS YOU SEEM TO MAKE YOUR DECISIONS BASED ON MUCH, MUCH LONGER TERM.

MA: I PROMISED FOR THE FIRST DAY BEFORE THE IPO, I PROMISED AN IPO DAY, I PROMISED NOW. WE WILL ALWAYS BE A COMPANY TO FOCUS ON THE FUTURE. BUT TODAY, THE BUSINESS WE ARE TAKING CARE. IT IS TOO LATE TO WORRY ABOUT TODAY IN NEXT QUARTER. RIGHT? WE START TO WORRY ABOUT THE NEXT QUARTER SHOULD BE TWO YEARS AGO, THREE YEARS AGO. IF WE STILL TODAY WORRY ABOUT THE NEXT QUARTER, WE ARE SCREWED. WE ARE IN TROUBLE.

FABER: MANY WOULD AGREE WITH YOU. THAT'S WHY THEY STAY PRIVATE.

MA: YEAH, SO, SOMETIMES UP AND DOWN IS VERY NATURAL. IT'S VERY NATURAL. YOU ARE DRIVING A SHIP ON THE OCEAN. UP AND DOWN IS THE MAKING SURE THE SHIP IS STRONG ENOUGH, MAKING SURE YOU KNOW WHERE YOU'RE GOING. DON'T THINK BECAUSE UP AND DOWN IS GOING TO DESTROY THE SHIP. NO, ITS GOING ON.

FABER: WHEN WE SPOKE IN NOVEMBER, I THINK I ASKED YOU IF YOU WERE HAPPY. YOUR MOOD DIDN'T SEEM TO BE PARTICULARLY HAPPY. IN FACT, YOU EVEN SAID IT. IT WAS A RARE THING TO HEAR FROM SOMEBODY WHO'S FOUNDED A COMPANY. WE DON'T – U.S. CHAIRMEN AND CEOs DON'T SEEM TO SHARE AS MUCH AS YOU SEEM TO, JACK. BUT I ASK YOU BECAUSE YOU BROUGHT IT UP THEN. I MEAN, HAS YOUR MOOD CHANGED? ARE YOU FEELING BETTER ABOUT THE WORLD OR YOU STILL SOMEWHAT WEARY?

MA: NO. I THINK I'M ALWAYS FEEL GOOD ABOUT THE WORLD, ALWAYS FEEL ABOUT THE OTHERS. BUT I JUST THINK WHETHER TOO MUCH WORK FOR ME, WHETHER I SHOULD, YOU KNOW, KEEP ON DOING THIS. WHETHER I SHOULD LEAVE IN MORE OPPORTUNITY FOR YOUNG PEOPLE, WHAT SHOULD I DO. THESE ARE THE THINKINGS THAT MAKE ME TOO BUSY. I JUST WONDER OH MY GOD. I'VE SAID I DONT BE THE CEO, BE THE CHAIRMAN, COULD BE EASIER. BUT NOW I'VE BECOME CHAIRMAN AND I'M EVEN BUSIER THAN THE CEOs BECAUSE IF YOU WANT TO BE DOING A GOOD JOB AS THE CHAIRMAN, THERE ARE SO MANY THINGS YOU SHOULD LEARN, YOU SHOULD DO.

FABER: BUT YOU DON'T THINK SERIOUSLY ABOUT STEPPING DOWN AS CHAIRMAN, DO YOU?

MA: NO. NEVER. I THINK I HAVE LONG WAY TO GO. I PROMISED MY TEAM I WILL WORK WITH THEM, SUPPORT THEM AND MAKING SURE THEY ARE STRONG ENOUGH. AND MAKING SURE THEY SAY, "JACK, IT'S TIME YOU RETIRE." THEN I GO. BUT I WOULD. I ALWAYS – I'M A TEACHER. I FEEL PROUD. AS TEACHER YOU ALWAYS WANT YOUR STUDENTS BETTER THAN YOU ARE. YOU ALWAYS WANT YOUNG PEOPLE BETTER THAN YOU ARE. AND I ALWAYS WANT THEM TO REPLACE ME AS SOON AS POSSIBLE, BECAUSE I DON'T HAVE LONG TIME TO GO. I'M ALREADY A LITTLE BIT OVER 50.

FABER: WE'RE THE SAME AGE. DON'T GET ME DEPRESSED HERE. I MEAN, COME ON. WE GOT LOTS OF TIME.

MA: OK. WE HAVE TO FACE THE REALITY.

FABER: YEAH. WE CAN GRAPPLE WITH THAT EVERY DAY. JACK, I HOPE WE'LL SEE YOU BACK HERE IN THE STATES, PERHAPS GIVEN THIS NEW EFFORT OF COURSE WITH SMALL BUSINESS, BUT CERTAINLY VERY GLAD YOU MADE THE TIME. THANK YOU.

MA: THANK YOU, DAVID.

FABER: JACK MA, THE CHAIRMAN AND FOUNDER OF COURSE OF ALIBABA.

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