Hello everyone, my name is Leroy Kenton and this is after the facts and in this episode
You're gonna see the side-by-side
Comparison of Jeff Bezos and Jack Ma and you're gonna learn what makes these two billionaires so unique and separate from the others
These are two men that I've learned a lot from and I know you will as well too now
I'm excited to be doing this video that highlights the
Differences not just because they are the owners of two of some of the largest companies in the world
But this video is really an inspiration of like, okay
If two people from two different backgrounds like this can do it and make such a big impact in the world
Anybody can but before I just jump right in I gotta let you know that FTD facts is now translated in Spanish
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Experiences and talking about my experiences with religion spirituality
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Conversations and I'm probably more excited to do this channel than any other child that I've worked on in the past
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Okay. Now let's jump right in first off. I'm gonna start with Jeff Bezos
so Jeff Bezos is the CEO and president of Amazon and the latest estimates indicate that his net worth is
137 billion dollars u.s. And on July 27th 2017
He became the richest man in the world when his estimated net worth increased past 90 billion dollars
Now Jack Ma is the founder and executive chairman of the Alibaba Group
Which is a Chinese multinational conglomerate specializing in e-commerce retail internet and ecology
Now, he's one of the richest men not just in China
but also in the world with a net worth of thirty six point two billion dollars in
1990 Jack Ma was teaching English to a group of university students at the Hong Zhu Dion Z
University and that same year Jeff besos was working at de Shah & Co which was an investment management firm based out of New York
City and years later, it's just like I don't know if it's coincidence, or maybe they're on some similar brainwaves
But both of them would come up with similar names for their companies
So Jeff Bezos wanted the name Cadabra which is a name that signifies magic and Jack Ma wanted the name Alibaba which he stuck with
Hoping that the name would open doors with an Open Sesame kind of vibe to it
If you're not familiar with the Open Sesame reference, it's from Aladdin in the king of thieves
And I'm sure it's been related to some other stories, but that was the first time I heard that phrase being used
But you see coming up with similar names is probably the only thing that they had similar with each other because Jack Ma and Jeff Bezos
Couldn't be more different
it's not often that you find the founder of a huge tech company who failed a college entrance exam twice and
Doesn't know how to code which is true about Jack Ma
Whereas Jeff Bezos he tends to be pretty?
Level and on point when it comes to giving speeches but II see Jack Ma now is known for his lavish
Performance style when it comes to delivering speeches and public addresses
So now let's look at the early history of these two tech giants starting off with Jeff Bezos
He was born named Geoffrey Preston Jorgenson on January 12
1964 in Albuquerque, New Mexico in the United States after his mother Jacqueline divorces father Ted Jorgenson
She married Miguel Mike besos in April 1968
Mike adopted Jeff and his siblings and changed their last names and that's where Jeff adopted the name
Bezos and now we know him as Jeff Bezos. He graduated from Princeton University
With a bachelor's in science and going through school and even from a younger age
Jeff Bezos always showed some interest in
science and tech ecology and he was very proficient in both of those fields because he once rigged an
Electrical arm to keep his younger siblings out of his room Jack ma was born Mayan on the 10th of September
1964 in Hong Zhu
jaejeong in China
He and his siblings grew up at a time when?
Communist China was increasingly isolated from the West and his family didn't have much money when he was young as a teenager
Jack Ma started waking up early to visit the city's main hotel where he had offered visitors tours to the city in exchange for
English lessons the nickname Jack was given to him by a tourist who became friends with him and later
They became pen pals so they would write each other
Back and forth with letters handwritten letters Jack Ma also had a very hard time getting into college
He took four years to pass a Chinese entrance exams then Jack Ma attended the Hansie teacher's Institute
Which is now called e hongxun Normal University and graduated in 1988 with a BA in English
so these two men have very different beginnings as you can clearly see and these differences even extend it to the
Investments that were used to start their companies. So check this Alibaba started with
50,000 Chinese won which is about eight
Thousand one hundred and fifty US dollars now when Amazon started Jeff Bezos got three hundred thousand dollars from his parents
Which is not too much of a difference in the dollar amount to start your company
but in both cases these men were able to use their intelligence their brains and
Persistence to build a massive companies with Jeff Bezos. He founded Amazon in late
1994 on a cross-country road trip from New York City to Seattle the company began as an online
Bookstore and has expanded to a variety of products and services including video as well as audio streaming
Jeff Bezos first became a millionaire in the year
1997 after raising 54 million dollars through Amazon's initial public offering which is known as
IPO if you've heard that acronym before Amazon is currently the world's largest online sales company
Jeff Bezos has also added to his business interest when he founded aerospace company
origin in the year 2000 a Blue Origin test flight successfully first reached space in the Year 2015
he also purchased the Washington Post in the year 2013 for
250 million dollars Jeff Bezos publishes an annual letter for Amazon shareholders wherein he refers to five
Principles that he focuses on and that is focus on customers not competitors take risks for market leadership
facilitate staff morale build company culture and the fifth one is
empower people and he really stands by these five principles and they're like
Ingrained in the whole culture of Amazon and he wants to make sure that his shareholders
Really push this as well when it comes to Jack Ma now Alibaba is the world's largest
retailer and e-commerce
company and one of the biggest things that sets these two men apart from each other is their leadership style as well as what their
Main focuses are when it comes to their main businesses, Amazon and Alibaba
Well, you know more accurately how they view their main focuses. So let's take a look
Jeff Bezos is notorious for his obsession with customers and it's what he says in his own words
We have so many customers who treat us so well and we have the right kind of culture that
Obsesses over the customer if there's one reason we have done better than our peers in the internet space over the last six years it
Is because we have focused like a laser on customer experience
But Jack Ma has a slightly different angle
you see Jack Ma says this customers first employees second and shareholders third now when Jack Ma is talking about
Customers he's not talking about the everyday consumers like Jeff Bezos
But rather Jack miles referring to customers who are small business
Owners that use his marketplace as a platform to build their own businesses in 2013, Jack Ma
He also said this in his own words Alibaba is a company for consumers
I knew that we didn't have the right DNA to become a consumer company the world is changing very fast
And it's hard to gauge customers needs small businesses know more about the needs of their customers
We had to empower our power sellers and our small and medium-sized enterprises to support their customers
So in a nutshell, Jeff Bezos wants Amazon to be a company that is completely about the customer experience
And when he's talking about customers, he's talking about the everyday users up Amazon
They use it to purchase products as well as use their services Jack Moss says, yes customers are completely important
However, we're not going to be catering to the customers
we're going to be catering to the business owners and
enterprises that use our platform to empower them to now cater to their customers their personalities are also
Strikingly different for example, let's look at Jack Ma
He handed out silly-string to his employees when Alibaba became profitable and Jack Ma even implements a talent show that happens
Yearly for his employees in contrast
Jeff Bezos is more of an intimidating
Leader in a tell-all Amazon book called the everything store Brad stone writes that Jeff Bezos really thrives on confrontation
and is prone to
Outbursts in 2013 Jack Ma had stepped down from his role as CEO in the Alibaba Group
Now even though Jack Ma is no longer the CEO. He's still the chairman of
Alibaba and he still owns eight point nine percent of the company and he's the most recognizable person within the
Organization and a lot of his time is used now for philanthropic ventures
So both of these men prove that leadership and business doesn't have to look a certain way
No matter how you started there isn't one way to build a business
So thank you for coming along this ride as we took a snapshot into the lives of Jack Ma and Jeff Bezos
Share your thoughts and comments about anything that I shared in this episode
And before you head on outta here
Remember to subscribe to FTD facts espanol for videos in Spanish and my personal channel FTD speaks
I'll have those links as well as my other social media links down below in the video description
Thank you so much for watching and I'll see you real soon in another episode
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