Edward Tse > Quotes

“four factors can be combined into a simple formula: scale + openness + official support + technology = hyperfast growth of consumer markets.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“In 2013, Hertz Global Rental took a 20 percent stake in China’s biggest car-rental firm, privately owned China Auto Rental. Overnight, the U.S. company’s presence in China expanded from 5 outlets to 700. China Auto Rental got access to Hertz’s customer referrals, one of the main sources of business for car rentals. This sector will only grow in importance as China’s car-rental market grows from $4 billion to $20 billion—equaling America’s.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“with China’s working population falling by between 2 and 4 million people annually—barely noticeable in a total working-age population of 900 million.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“turned subway stations into virtual stores where people shop with their smartphones by snapping bar codes that appear alongside pictures of products.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“Business ambition is only part of what motivates China’s entrepreneurs.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“Xiaomi’s use of crowdsourcing to get input on ways of improving its phones and to create a buzz for each new release.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“China is now the world’s biggest industrial robot market, accounting for one-fifth of all sales.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“They firmly believe that success will come from pushing onward, takings risks, and reacting quickly to opportunities; from constantly searching for small advantages that will allow them to steal a brief march on their immediate competitors, and larger ones that will enable them to enter a new business area; from building a scale that will make it hard for others to rival their cost base; and from finding new markets, be they emerging new centers of consumption within China or overseas.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“For a business to thrive in the longer term, he believed, it would need a reputation for reliability and quality.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“One question is in the mind of every fledgling entrepreneur in the high-tech startups of Beijing’s Zhongguancun neighborhood, the fabrication hubs of Wenzhou, the industrial region of Dalian, and dozens of other Chinese business centers: “Why not me?” Success is all around them…. Young Chinese businesspeople are driven by materialistic desires, eager to “catch up” with the rest of the world, and almost giddy with a sense of multiplying opportunity. They have read Internet chronicles of the triumphs of Yahoo, Silicon Graphics, and Google. They see themselves as the creators of the world’s future Intels, Apples, and Microsofts, and some of them probably will be.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“For entrepreneurial companies, innovation is do or die,”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“more companies to run themselves in a similar way to Chinese companies—operating more in the present, viewing themselves as in a condition of constant flux, and always searching for new business areas they can stretch themselves into.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“If you don’t create channels for people to rise and don’t tackle issues of fairness or a lack of legal knowledge, then you can create a society with a large underclass that’s poor and a society that’s unstable,” he says.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“China’s Internet businesses all hire staff to monitor their services, removing or blocking any antigovernment messages.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“Alibaba’s strategy is not opportunism pure and simple. Rather, it is a form of opportunism that draws on a vision”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“In summary, for many companies, China has the potential to become the world’s leading breeding ground for growth and innovation. Being”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“WE WANT TO BE NUMBER ONE”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“We don’t want to be number one in China. We want to be number one in the world,”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“Ma declared, “If banks don’t change, we will change banks.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“Selling everyday items, priced marginally lower than those offered in brick-and-mortar stores, and delivering them through the congested streets of China’s cities directly to customers’ homes or offices on fleets of motorcycles and mopeds has proved a hit.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“Xiaomi’s engagement with its users is exemplary in this respect not just because it listens to what they say, but because of the way it acts immediately on the feedback it receives.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“It processes more than half a trillion dollars annually—five times more than the country’s second-biggest system, Tencent’s Tenpay, and over 20 times more than China UnionPay, the state-owned body with a monopoly over China’s bank card authorization network.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“When it comes to innovation, foreign companies can study how local enterprises constantly update and augment their products and capabilities, making them capable of penetrating and taking over entire high-technology sectors from the bottom up, as Huawei has done.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“these are hugely entrepreneurial businesses, run in risk-taking manner, embracing innovation and change, and that running them is a group of extraordinary individuals.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“Today, Ma’s payment system, now known as Alipay, is responsible for processing half of all online transactions in China.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“The government has long known that for China to achieve its goal of becoming a developed economy, the country must be an innovation power.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“Many of today’s most successful Chinese entrepreneurs, most of them now in their 40s, 50s, and 60s, had no experience in business when they started their companies.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“Alibaba was founded with a simple mission to help small business owners make money. But our next challenge is to join forces with the people of China and beyond to build an ecosystem that can help even more people make a decent living and push for change that benefits everyone.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“Lenovo did not make itself the world’s biggest personal-computer maker by copying American competitors. Instead, it applied beyond China’s borders the practices it developed for China, while, at the same time, consciously redesigning itself to be an international business.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business

“Zhang says his goal is to turn Haier into an “ecosphere”: an organization in which many people have decision-making power, and those at higher levels are only responsible for setting the overall master direction.”
― Edward Tse, China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies are Changing the Rules of Business