GGV Capital’s Hans Tung and Zara Zhang interview Jerry Yang, founder and former CEO of Yahoo!, who orchestrated arguably the best deal in tech history. In 2005, he arranged for Yahoo! to invest $1 billion for a 40% stake in fledgling Chinese ecommerce site Alibaba at a post-money valuation of $5 billion. Today, Alibaba is worth almost half a trillion dollars. During the interview, Jerry conducts a post-mortem for Yahoo!’s China strategy, and offers advice for US tech companies looking to expand into China.