OUTWORK EVERYONE
If there is someone whom people like and look up to as a 21st-century inventor after Steve Jobs, most of us will undoubtedly say Elon Musk. He has established a name for himself by accomplishing seemingly impossible feats that most of us would never consider.
At a very young age, he started his entrepreneurial journey by founding his internet company Zip2 with his brother Kimbal. Musk’s entrepreneurial mindset made him the world’s richest man, and he now controls Tesla, SpaceX, SolarCity, Neuralink, Hyperloop, The Boring Company, and Twitter, which was his most well-known acquisition, as well as investments in Paypal and DeepMind Technology, etc. Elon Musk’s journey from zero to visionary of the twenty-first century must have been difficult. Let’s know about the hard things of his life.
Elon Musk is a Canadian-American entrepreneur, investor, and business magnate. When Elon was only 10 years old, he had read the entire Britannica Encyclopedia and sat for more than 10 hours a day reading books. In an interview, Elon once stated in an interview, “I was raised by books”. At the age of 12, he created the online game Blastar, which he later sold to an online company for $500.
He used to not see the problem as a problem, but rather as an opportunity to solve it. A few years back when a Tesla employee told him an issue could not be solved then he asked him to do work on Saturdays and Sundays and sleep under the desk until that issue was completely resolved. He despises naysayers; say No, and you’ll be fired the next day. Elon aims to live for the betterment of the planet earth. He founded SolarCity, which focuses on renewable energy generation, and Tesla Motors, which focuses on renewable energy consumption and is attempting to reduce demand for diesel and petrol by developing electric vehicles and driverless cars.
He learned rocket science without any formal education and is self-taught programming and rocket science expert. He used to devote roughly 10–15 hours each day to learning about Rocket Science, and he continues to do so today, working 15 hours per day, seven days a week, and 52 weeks per year. Elon has unreasonably high and uncompromising expectations for himself. Expecting unexpected things for oneself that one cannot expect for oneself is the uniqueness of Elon. He doesn’t want to undertake simple tasks that many people can do; instead, he wants to tackle incredibly difficult and necessary tasks that no one else wants to do.
Elon said in an interview “I don’t expect to do what is possible I want to do what is needed to be done”.
Musk founded Zip2 in 1995 and received funding from his father at first, and then from outside investors. The company grew, and the board of directors expanded, but because he was young, the directors decided not to nominate him as the Zip2 CEO, and he was removed from the post. During the 2000 stock market crash, the board of directors agreed to sell Zip2 to Compaq for $307 million, and Elon received $22 million right away because he owned 7% of the company.
He could have retained a large sum of money for himself and lived a luxury lifestyle because he was young at the time, but instead, he decided to invest his money in future ventures and founded X.com, an online banking company for online transactions. Later, it partnered with another company, Cofinity, and the two merged to form Paypal. Musk was also a co-founder of Paypal. While CEO Elon Musk was on his honeymoon with his newly married bride, he was sacked from Paypal by the company’s CTO. However, when he was fired from Paypal, the company’s stock was worth a lot of money, and he walked away with $165 million.
In 2007 he thought of making life possible on Mars and went to Russia to suggest a rocket that could take him to Mars for which Russia asked for $8 million. Russia rejected any talks to stick to its deal. So Elon returned to the United States and decided to build his own rocket company. He began reading about rocket science and later founded SpaceX, a commercially viable space travel company. When only government firms were authorized to redesign space travel, no one believed in the private company SpaceX. Nobody showed up to promote Musk’s new business venture. The problem was to get the rocket into orbit at a low cost and to bring the same rocket back to Earth so that it could be reused. When SpaceX launched its first rocket the engine fired;
the second time the company tried, the rocket arrived in space but did not reach orbit and was off rooted; and the third time the firm tried, the rocket was off rooted before landing in space.
Elon nearly went bankrupt because of his three consecutive failures. He had lost all the money that he got from Paypal, and funding agencies. But he made a crazy announcement that SpaceX would try one more time and Elon risked everything that he had. Selling his house and cars, started living on rent, and took loans from investors and Musk’s fourth attempt was finally successful, Then he signed a $1.5 billion project agreement with NASA.
When he launched the first TESLA electric car on the market, he failed miserably due to misleading pricing promises of $50,000 for a car that cost an outrageous $109,000 when it went on sale. In its third attempt, TESLA Motors offered a genuinely fair price, resulting in a surge in vehicle sales.
Musk has faced failure throughout his life, starting with being tortured in school and hating going to school, to his failures at Paypal, SpaceX, and Tesla, but he views FAILURE AS AN OPTION and believes that YOU MUST BOUNCE BACK. Elon Musk is a living example of how to fail in life and then succeed.
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