00:00If you don't give up, it's just a mistake.
00:03Mistake is the best fertilizer for tomorrow's success.
00:07I think for companies like Alibaba, people say, hey guys, you're so lucky in 20 years,
00:14you have achieved that much.
00:16Yes, we're lucky, but we work very hard.
00:19We made more mistakes than anybody can imagine.
00:22We made mistakes on raising capital.
00:25We made mistakes on management.
00:27We made mistakes on HR.
00:29We made mistakes in a lot of areas.
00:31But we learned-
00:31Tell us more about those mistakes, Chad.
00:33For example, when we don't have money, we don't make big mistakes.
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