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The easier question might be, 'What isn't Alibaba?' The company is only 15 years old, but it has gotten so big over that timeframe that it basically touches every single part of the Chinese economy. I think the simplest comparison to draw is that it is like eBay and Amazon combined.

We want to help U.S. entrepreneurs, small business owners, and brands and companies of all sizes sell their goods to the growing Chinese consumer class. Chinese consumers will get to buy the American products they want. This, in turn, will help create American jobs and increase U.S. exports.

But if you look at WorldCom, which is the biggest failure to date, they grew dramatically, they were buying companies that were bigger than they were and they were doing it off inflated stock.

There are two kinds of big companies in the United States. There are those who've been hacked by the Chinese, and those who don't know they've been hacked by the Chinese.

China's Web has grown away from just duplicating services from the U.S.

We help Chinese companies grow their customers abroad. They use Facebook ads to find more customers. For example, Lenovo used Facebook ads to sell its new phone. In China, I also see economic growth. We admire it.

In the '80s and '90s, China went through a giant change. It needed all resources. At the time, I was in the recycled paper business, and I realized the China market was a blank slate.

China has the best opportunities. A domestic market with 1.3bn people will help create more Fortune 500 retailers.

We had a mission at PayPal - which was to create a new financial system, a new world currency, and we failed. We were a financial success, but we didn't succeed at the purpose of our company.

If China wants to spend $10 producing a product and sell it for a buck, who benefits from that? I think we do. I'm the free market guy. I think free markets work.