Top Business Quotes of Elon Musk:
“For me it was never about money, but solving problems for the future of humanity.
“I think it’s very important to have a feedback loop, where you’re constantly thinking about what you’ve done and how you could be doing it better.”
“I don’t spend my time just talking about high-concept things; I spend my time solving engineering & manufacturing problems.”
“I get some of my best Ideas by actively seeking out & listening carefully to negative feedback. (also Bill Gates, MicroSoft)
“People should pursue what they’re passionate about. That will make them happier than pretty much anything else.”
“Starting and growing a business is as much about the innovation, drive, & determination of the people behind it- as the product they sell.”
“Failure is an option here. If things are not failing, you are not innovating enough.”
“When you struggle with a problem, that’s when you really understand it.
“Any product that needs a Manual to work is not user friendly. (also Steve Jobs, Apple)
“I’m passionately pro-American. I would have come here from any country. The USA is where great things are possible. (my Tribute to Independence Day from the Land of Opportunity)
Topics about Elon Musk: Today’s greatest Entrepreneur, Overview, Education, Business Ventures: ZiP2, PayPal, SpaceX, Tesla & Bio.
Elon Musk – Top of List 2019
Musk is always in the news for his successes, ventures or his methods of working. His Tweets catch the attention of people around the world. Only a few know about his total life story. Let me tell you, so you’ll be inspired.
Overview: Elon Musk was born on 1971 in Pretoria, South Africa. He is an innovative business man, financial specialist, & engineer who is one of the best know & most popular Entrepreneurs in the world. He is best know as the Founder, CEO & Visionary of SpaceX & Tesla + others we’ll tell you about as we go on his Journey.
How Elon Musk started his Journey
Elon Musk was born in 1971 in Pretoria, South Africa, to a British Engineer father & Canadian Dietetics master Mother. He is the eldest of the three siblings. His parents divorced in 1980. Musk purchased his first PC at 10 years old. He composed his initially possess game at 12 years old and made his first $500 selling one of the Space Invaders-like game called Blastar.
Early Education as a Teen. At 17 years old, Musk chose to move to Canada and was selected at Queen’s University in Ontario at 19 years old. His calling came when he got a grant from the Univ of Penna. Later, he got a BS in Physics. Next he got a BS from the Wharton School at the Univ of Penna.
Higher Level Ed. He started a Ph.D. in Physical & Material Sciences at Stanford in 1995, then dropped out after two days to seek an Entrepreneur vocation. Elon Musk believed that the Internet, sustainable Power source & Space Travel would be the fields having the greatest effect on the lives of people in future.
Elon Musk’s Business Ventures
A wide Variety. Musk has evolved different & distinct categories of his comprehensive businesses. From revolutionary Automobiles to secured Financial Apps to Artificial Intelligence (AI) research to Space. He has achieved a strong impact everywhere with his innovations. The catalysts of his supremacy are listed below-
ZiP2 – Web programming
In 1995, Musk with his brother Kimbal Musk, began a Web programming organization – Zip2, with cash raised from a little gathering of holy messenger investors. The organization created and advertised an Internet city control for the newspaper distributing industry with maps, directions & yellow pages. Zip2 enabled all real print distributions to offer extra business administrations to their clients. Musk got contracts with The New York Times & Chicago Tribune.
Compaq, a noteworthy web crawler in Feb 99, bought Zip2 for $307M in Cash & $34M in Stock Options. The deal made it one of the greatest money acquisitions in those days. Musk got $22M for his share from the sale.
X.com & PayPal
In March 1999, Musk established X.com, an online budgetary administrations & Email payment company with $10M from the sale of Zip2. One year later, X.com merged with Confinity, which had payment service application called PayPal.
PayPal’s initial development was driven essentially by a viral showcasing effort where new clients were selected when they got cash through the service. Musk wished to to move PayPal’s Unix-based foundation to Microsoft Windows, which was opposed by all. In Oct 2002, eBay acquired PayPal for $1.5B in stock, of which Musk got $165M.
In 2001, Musk considered Mars Oasis, an under-taking to send a small test Nursery on Mars, in the hopes of revolutionizing the Aerospace industry and making affordable Spaceflight a reality. In February 2002, Elon Musk came to Russia to search for three ICBMs (missiles), to send this pay-load to Mars.
Russian Space Company, Kosmotras offered one rocket for $8M. Musk found it excessively costly and refused to purchase it. While on the trip back from Moscow, Musk understood that he could begin an organization that could manufacture the moderate rockets he needed. Musk calculated that the raw materials needed to structure a rocket really were just 3% of the commercial cost of a rocket at the time. He established . . .
SpaceX in 2002, with the long term objective of making a genuine space-faring civilization on Mars. With $100M of his initial fortune, Musk established Space Exploration Technologies or SpaceX, in May. Musk is CEO & Chief Technical Officer (CTO) of the California-based SpaceX organization.
What does SpaceX do? They create space dispatch vehicles with an emphasis on advancing of rocket innovation. In 7 years, SpaceX planned the group of Falcon dispatch vehicles and the Dragon multi-purpose spacecraft.
2006, SpaceX was granted an agreement from NASA to proceed with the improvement and trial of the SpaceX Falcon 9 dispatch vehicle and Dragon spacecraft so as to ship Freight to the International Space Station [ISS].
2008 Sept, SpaceX’s Falcon 1 rocket turned into the main privately financed fluid-powered vehicle to place a Satellite into Earth orbit. It was followed by a $1.6B NASA Commercial Re-supply Services program contract on Dec, 2008, for 12 flights of its Falcon 9 rocket and Dragon shuttle to the International Space Station [ISS].
2012, the SpaceX Dragon vehicle berthed with the ISS again, impacting the world forever as the primary vehicle to haul a payload to the ISS.
2015, SpaceX effectively handled the principal phase of its Falcon rocket back at the platform. This was the first run in history such an accomplishment had been accomplished by an orbital rocket. It became the first step towards rocket re-usability, bringing down the expenses of access to space.
2017 & 18, SpaceX launched its 18th Falcon 9 flights, which are more than the previous year’s 8 flights. On February 6, 2018, SpaceX effectively launched the Falcon Heavy, the 4th-highest capacity rocket ever built and the most powerful rocket in activity in 2018. The debut mission carried a Musk’s Tesla Roadster as a dummy payload.
2019 & 20, SpaceX is both the largest private maker of rocket motors on the planet & holder of the record for the most noteworthy thrust-to-weight ration for a rocket motor (the Merlin 1D). SpaceX has created in excess of 100 operational Merlin 1D motors. Every Merlin 1D motor can vertically lift the heaviness of 40 normal family vehicles
Tesla, Inc. (initially Tesla Motors) developed in July 2003 by Martin Eberhard & Marc Tarpenning. In Feb 2004, Musk jointed Tesla’s Board of Directors as its chairman and led the Series A round of investment.
Low Profile at first. Musk supervised Roadster development, yet was not profoundly engaged with everyday business operations. Following a money-related emergency in 2008 and after a progression of raising clashes in 2007, Eberhard was expelled from the firm. Musk took the initiative as CEO & CTO – positions which he holds even today.
1st Electric. In 2008, Tesla Motors initially built an all electric sports car – the Tesla Roadster – with sales of 2,500 vehicles to 31 nations. On June, 2012, Tesla started its four-door Model S car. On Feb, 2012, it released its third vehicle, the Model X for the SUV/Minivan.
Car of the Year Award 2013 by Motor Trend.zine.
Valuation. Tesla total Assets was valued to be $21B billion in 2019. Nearly 75% of every electric vehicle sold in the US in 2019 were Teslas. The total assets of Elon Musk, Tesla’s CEO, was $18B as of May 2020. Now Tesla is #1 Car Maker – ahead of Toyota, GM & Ford.
The Boring Company
Too boring for me. Look it up, if you’re interested.
Future Plans of Elon Musk
Mars. Elon Musk has never made his desire to make people a “multi-planetary types”. Colonizing Mars would be a decent start as per Musk. In September 2017, at the 68th International Astronautical Congress in Adelaide, Australia, he unveiled his arrangement to send payloads there in the next 5 years. By expansion, he trusts that people will settle the planet by 2024.
Hyperloop has been contrasted by him as a “cross between a Concorde, a Rail-gun, & an Air Hockey table”. The plan is to eventually give methods for movement that should have the option to surpass 1124 km/hr (=700mi/hr) and all underground. At present two courses are being developed – between Los Angeles & San Francisco and between NYC & Wash DC. When complete these excursions should only take 30 minutes using the Hyperloop.
Elon Musk BIO
Birth & Education 1971 (= almost 50) and raised in Pretoria, South Africa, Musk briefly attended the University of Pretoria before moving to Canada when he was 17 to attend Queen’s University. He transferred to the University of Pennsylvania two years later, where he received a Bachelor’s degree in Economics from the Wharton School & bachelor’s degree in Physics from the College of Arts and Sciences. He began a Ph.D. in Applied Physics & Material Sciences at Stanford University in 1995, but dropped out after two days to pursue a business career. (ie, like Bill Gates, Steve Jobs, etc)
1st Companies. He subsequently co-founded (with his brother Zip2, a Web SW company, which was acquired by Compaq for $340M in 1999. Musk then founded X.com, an Online Bank. It merged with Confinity in 2000, which had launched PayPal the previous year and was subsequently bought by eBay for $1.5B in 2002
2nd Companies. In 2002, Musk founded SpaceX – an AeroSpace manufacturer & Space transport services company, of which he is CEO & Lead Designer. He joined Tesla Motors – the 1st successful Electric vehicle manufacturer, in 2004, the year after it was founded,[ and became its CEO & Product Architect.
3rd Companies. In 2006, he helped create SolarCity, a solar energy services company (now a subsidiary of Tesla). In 2015, Musk co-founded OpenAI, a non-profit research company that aims to promote friendly artificial intelligence. In 2016, he co-founded Neuralink, a neuro-technology company focused on developing Brain–Computer interfaces. Also in 2016, Musk founded The Boring Company, an infrastructure & tunnel construction co focused on tunnels optimized for Electric vehicles. (but a very boring co)
Other Interests & Goal. In addition to his primary business pursuits, Musk has envisioned a high-speed transportation system known as the Hyperloop. Musk has said the goals of SpaceX, Tesla, & SolarCity revolve around his vision to “change the world & help humanity”. His goals include reducing Global Warming thru Sustainable Energy production, reducing consumption & lessening the risk of human extinction by establishing a human colony on Mars. Elon Musk is a named inventor of 8 Patent families and 14 distinct Patent publications for his inventions. (a busy Bloke)
Where does he stand? In 2016, he was ranked on the Forbes list of The World’s Most Powerful People, and was ranked first on the Forbes list of the Most “Innovative Leaders of 2019. A self-made billionaire, as of June 2020 his net worth was estimated at $38.8 billion and he is listed by Forbes as the 31st-richest person in the world. He is the longest tenured CEO of any Automotive Mfr globally & Tesla has #1 sales in the world – even ahead of Toyota. Wow !!!
Comments: Do you know any other memorable things the Musk has done?
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