Elon Musk: Biography & Life of the Successful Entrepreneur
Who is Elon Musk?
We like to invest in big ideas like Elon Musk at Angel Kings, and there's 6 points you need to know.
Number 1, taking big risks can pay off big time. Don't think small, think big. Elon Musk, whether it was Paypal back in the 90's or whether it was Tesla or SpaceX or even Solar City where his nephew works, he's always had a big idea mindset. I think you have to take big risks in order to help civilization, help society. It's not about just creating clones of other ideas. One thing we've talked about in our own book, called Kings Over Aces, is this idea that people matter. People, production, execution, and timing, but people are foremost and of the utmost importance if you want to execute an idea. Frankly, we look for people that want to take big risks, because it pays off not just for the investor, but for society and civilization.
What Has Elon Musk Invented?
The second thing is shooting for the moon is the only way to think. America has landed on the moon and so have several other countries. Now it's about, how do we do something beyond that? Taking big risks and going beyond that. Frankly, Elon is a guy who believes that if you're not thinking big, and if you're not thinking of a moon shot idea, why waste the time? Life is too short. The average person lives in their 70's, you go into your 20's and 30's you're halfway through your life. What have you done to think big? What sort of moon shot ideas are you working on? It's all fine if you're creating a lifestyle business, if that's what you want to do, but why not think bigger and have an ability to affect and effect society and civilization for the future and for future generations? Shooting for the moon is the only way to think.
The third thing this book explains is working hard and asking others to do the same doesn't always work out. I've looked at Elon Musk and studied his strategies, his philosophy, his persona. I think the best way to look at it is, I would put him in sort of a ambivert scale. If you look at people and analyze what sort of personalities exist. There's introverts, there's ambiverts, and then there's extroverts. Ambiverts are the type of people that fit in the middle. They're harder to analyze and understand. They're harder people to figure out what they're thinking, what questions they're going to ask you. I think because Elon has always fit in the middle category, he's media shy, he doesn't like to do these interviews like he did for the book. He was very reluctant to do interviews for this book. He has a hard time asking people sometimes, with his stern finger, to work as hard as him. Not everybody thinks of big moon shot ideas. It doesn't always work out.
How Can You Build Companies Like Musk Has With PayPal, SpaceX, Tesla and SolarCity?
The fourth thing is the human race needs to save itself from itself. He's got another moon shot idea which is hyperloop technologies now. If we don't start creating technologies and understanding how these technologies impact others, we're going to be in big trouble. That's what Elon Musk believes. His entourage of people in Silicon Valley are Larry Page and Sergey Brin, the founder of Google ... or the founders of Google. I think they're brought up in this book in the sense that they want to create artificial intelligence. They want to create robots that do most of what human beings do. I think with that, Elon sees a big risk, which is that the human race could be impacted if that new technology isn't controlled and contemplated thoroughly.
The human race needs to save itself, so if you've got people such as Larry Page, who's thinking big ideas about how artificial intelligence robotics will control the next generation, are we thinking about what that might mean? What that might mean if the robots go astray? We have to have a cautious approach to building new technologies even though we are think big. That's part of Elon's philosophy.
Number five is never, ever give up. Elon has taken moon shot ideas, which are one in a million, but when they hit they're huge. Along that process of having moon shot ideas, he's had failures. So will you as an investor. As a startup. What are you going to do when you're knocked down? What are you going to do when people tell you no? If raising money for your startup was that easy, everybody would be out there raising money. If building a company was that easy, everybody would do it. It's not easy. You're going to be knocked down. You're going to have your moon shot ideas slapped around by people.
People are going to tell you you're crazy, but you can't give up. If you have a dream and you've got traction, people are actually interested in buying into your idea, you should continue with it and you should pursue it all out. I mean, you've got to be all in to be successful and to build a billion dollar company like Elon has.
Last is the future world is a result of today. What this means is our future world is a result of our decisions today. That means that everything you do now has future consequences. Its like the butterfly affect where you have one person who moves the wind, and that becomes a butterfly affect over in China. There's an impact. We have to rethink the way we're building, creating and innovating as entrepreneurs. As investors we need to rethink how we're putting our capital into startups. Whatever happens in the future is a result of those innovations today.
The main point of this book, I believe, is that ... Elon's a bit paranoid, he's a bit obsessed, but at the end of the day, that can actually pay off big time. Not just for himself financially, but for future civilization. I gave this book a 4.5 out of 5. I'd definitely put it on your bookshelf. If you have any questions about investing, about startups, or just want to build an awesome company and dream big, you've got to check out our company Angel Kings. We've been investing in top startups for years and in fact we wrote a book called Kings over Aces, which is on Amazon that you should check out. If you like this book about Elon Musk, I think you'll like that too.
How can you be as successful as Elon Musk?
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