A Quote by Masayoshi Son
Back in the year 2000, most of the Internet companies were not making any money.
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When there were not very many Internet companies, the supply of Internet companies to the market was small and the appetite for them was large. Therefore, if you were in the business of creating Internet companies in 1996-98, you had a market that provided massive demand for that.
When we first started our internet company, 'China Pages', in 1995, and we were just making home pages for a lot of Chinese companies. We went to the big owners, the big companies, and they didn't want to do it. We go to state-owned companies, and they didn't want to do it. Only the small and medium companies really want to do it.
The lobbying over China most favored nation trading status was disgusting. There's no way in hell that MFN would have passed in '95, '96, '97, '98, '99, 2000 if all these companies hadn't come in flooding and making campaign contributions and ask for people's support. That drove the debate. Every year was the allure of corporate dollars flooding into members' bank accounts.
Most of my writing friends are working in academia. Most of my business school friends are always talking about bringing companies public, and money, and making money, and lots and lots of money. It's just a different environment.
If you think about companies that were built in Silicon Valley, a lot of them early on were chip companies. And now the companies that are there, like Apple, are much more successful than any of the chip companies were.
Back in the late 1990s, venture capitalists got very excited about the Internet. A whole lot of money was poured into some companies that failed rather spectacularly, and a lot of people lost a lot of money.
I started playing the ukulele in the year 2000. That sounds so futuristic saying it like that. The year 2000.
I was really running a music school back then, because my band wasn't making any money. I keep talking about money, because most people don't understand the part of money in running a band.
It would be really great if someone would invent a new Internet with the specific purpose of not making money off of it, but making it what it originally was, a free marketplace of ideas, and there are still aspects of the Internet that are that. Wikipedia, essentially, is still the bastion of the original ideals of the Internet.
You could kind of be free and expressive but you already knew when you joined the internet, you knew that you should not be a troll. You began to experience the internet through platforms that were themselves controlled by specific companies, technical instruments of those companies, like search and retrieval and ordering and classification.
The reality is that most companies are not about any values at all - they are about making money. It is extremely rare for a business to stand for anything because most businesses don't want to alienate potential customers, and if you believe in anything you are going to alienate someone.
There were never as many big businesses as people were piling money into in the late 90's or early 2000's. This is really a lesson to institutional investors about how much capital the market can absorb, and it's a 10-year adjustment cycle, and we're only beginning to wake up to that.
I've been playing videogames since before my career in this business, but what happened is several videogame companies were recruiting students back then and I applied with barely any hope of getting accepted to any of the companies. However, I got accepted! Although my path was already set to become a piano instructor, I chose the path of videogames instead. My parents cried, my friends were worried and my teacher was stunned (we're talking about way back when game music wasn't as popular as it is these days).
Giving back is something most companies look to do at certain times of the year. We as a company look to do it all year.
The Internet didn't get invented on its own. Government research created the Internet so that all the companies could make money off the Internet. The point is, is that when we succeed, we succeed because of our individual initiative, but also because we do things together.
The Senate was holding hearings on deceptive sweepstakes practices. These companies target the elderly, making them think they're going to get a bunch of money, when in reality they never see any of it. The most popular of these scams is called Social Security.
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