Alibaba Group Holding founder Jack Ma on Tuesday called on employees of the business empire he created in Hangzhou 25 years ago to “believe in the future” and “believe in the market”, as the e-commerce giant faces fierce competition on multiple fronts.
According to his letter published on Alibaba’s internal website on Tuesday, marking the 25th anniversary of the group’s founding, Ma said many of the company’s businesses face the prospect of being surpassed amid the “resurgence of … technology and fierce competition in various industries”.
“This is expected, as no company can always stay on top in any field forever,” wrote Ma, who has mostly stayed out of public view in recent years. “We must constantly [be reminded] not to lose ourselves” amid the competitive pressure.
He said Alibaba is made of “an idealistic spirit”, which means that “we believe in the future, we believe in the market”.
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