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I call Alibaba '1,001 mistakes.' We expanded too FAST, and then in the dot-com bubble, we had to have layoffs. By 2002, we had only enough cash to survive for 18 months. We had a LOT of free members using our site, and we didn't know how we'd MAKE money. So we developed a product for China exporters to MEET U.S. buyers online. This model saved us.
Author - Jack Ma Subject - How
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