I came across a speech by Li Ka-shing from 2004, lasting over an hour. Here are some of the insights I find valuable to note.

1. What truly widens the gap in life is never background or luck
He straightforwardly states that many people blame poverty and failure on lack of connections, capital, or opportunities, but he lost his father at 12, dropped out of school at 14 to support his family, starting from running a tea house, apprenticing at a watch shop—without any innate advantages. The real factors that create differences between people are your attitude towards time, your self-management, and your fundamental understanding of the “essence of making money.”
He says, time is the only capital the poor have. While others slack off, you hone your skills; while others indulge, you accumulate knowledge. The way you use your time determines the foundation of your life.
He mentions that perseverance is never about enduring hardship every second; that’s too passive and painful. True perseverance is a positive mindset—having clear goals, being willing to take responsibility, full of hope, and sticking to principles.
2. The underlying logic of making money and business: understand the “Dao” first, then practice the “technique”
First principle: prioritize risk management before discussing profits. “I’ve been in business for 70 years. My biggest insight isn’t how to make money, but how not to lose money. When people ask me how I always avoid crises, it’s simple: I always repair the roof on sunny days, prepare for the worst, and keep enough winter supplies in hand.”
The essence of business is value, not speculation. “Many people focus only on short-term profits, forgetting the fundamental of business—what value can you create for others and society? Solving bigger problems earns bigger money; bearing greater responsibility preserves greater wealth.”
Counterintuitive thinking: “When others are fearful, I am greedy; when others are greedy, I am fearful.” Everyone says this, but few do it. True opportunities always appear during market panic; real risks are hidden when everyone is crazy.
Advice for ordinary people: don’t chase quick money, aim for money with compound interest. “Quick money comes fast and goes faster. Ordinary people shouldn’t always think about getting rich overnight. Learn to do things that can be accumulated and reused, like honing your core skills and building your success system. Time will give you returns far beyond expectations.”
3. Life philosophy: build the self, pursue selflessness
What is building the self? It’s about maintaining your principles in a complex world, honing your core abilities, clarifying your life goals, not following the crowd, not being swayed by external voices, having your own judgment and resolve.
What is pursuing selflessness? When you have ability and wealth, you must learn to let go of the ego, to serve and take responsibility. “The meaning of wealth isn’t how much you own, but how much meaningful work you do with it. A person’s value isn’t measured by how much money you make, but by how many people you help.”
The fundamental philosophy of dealing with people: small victories rely on wisdom, big victories rely on virtue. “In business, first be a good person. Be sincere, keep your promises, stay humble—only then will your path widen. When you do well as a person, your business will naturally thrive.”
4. Lifelong advice for everyone
Self-discipline is the most fundamental card in life. He has maintained a strict routine for 70 years—waking up at 5:59 every morning, swimming in the morning, reading news, studying; reading books at a fixed time at night, even at over 90 years old. “Your body and mind are your most core assets. If you can’t control your routines and emotions, how can you control your life and earn the wealth you desire?”
Never stop learning. “Since dropping out, I’ve never stopped learning. While others read novels or entertain themselves, I use that time to learn about business, English, industry knowledge. In this fast-changing era, your only core competitiveness is to learn faster and understand deeper than others.”
Life is a marathon crossing cycles, not a sprint. “Don’t envy others’ momentary glory; learn to be a friend of time. Sometimes, slow is fast; stability allows you to go far. In an era where everyone wants to accelerate, patience is the most scarce quality.”