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Regardless, the point here is this: resentment doesn’t lead anywhere. This was probably easier to say in hindsight, after Paypal had gone public and made Musk even more millions, enabling him to fund his next crazy ideas. He recognised it hurt him at the time, but he also acknowledged you have to get on with life. when asked about the Paypal coup back in 2000. That’s what Elon Musk had to say in a 2006 interview with Inc.
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In this article, we’ll take a look at 5 inspiring business and life lessons from Elon Musk. There definitely are a few things to learn from a guy that went from being fired from his own company to being one of the 10 richest people on earth. Whether it’s changing the banking industry, revolutionising the electric car space, or colonising Mars, everything he does, Elon Musk does it 1000%. It’s safe to say his lifestyle is not the healthiest.īut the man sticks to his vision, puts his money where his mouth is, and that’s honourable. Musk tweets at 2am, sleeps 4 hours a night (if he sleeps at all), and keeps himself from collapsing with the help of a steady Coke and coffee diet. In 2003, a year after having founded SpaceX, he joined the Tesla table, and hasn’t left since.Įlon Musk is a larger-than-life character, a gambler, and a man who seems to put work and his vision before anything else in his life, including what most of us cherish more than anything: kids, family and friends. Musk found himself with a ton of new poker chips, and he didn’t take long to find a new poker table to gamble them.
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Because he had so much skin in the game, Elon kept his equity in the company, and became even richer when Paypal went public at a $1.5 billion valuation in 2002. Max Levchin, the co-founder, and Peter Thiel, an early investor, fired Musk from his CEO role in 2000 due to many disagreements over branding and micro-managing. I’ve spent almost all of those chips back in the new game.”Įxcept less than a year after his CNN interview, Musk would be kicked out of the table he was playing at.
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“It’s all like a series of poker games, and now I’ve gone to a higher-stake poker game and carry those chips with me. He never hesitated to spend huge amounts of his own wealth on his vision. Musk sunk a great majority of his net worth (“a large number of Ben Franklins” as he puts it) into X.com. Everyone else thought the internet was going to be a fad. It’s hard to imagine now, but at the time both online banking and internet news were revolutionary ideas only pursued by a bunch of crazy Silicon Valleys youngsters. The company Musk sold for $400 million before the interview was Zip2, a website that enabled news to publish their content online. “If you look at the industry that X is pursuing, it’s the biggest sector of the world economy.” Other than the fact he’s giving an interview on the day his brand new $1 million McLaren is getting delivered, you would never guess this guy just sold his company for $400 million in cash.
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There’s a big CRT TV on his righthand side, and he’s wearing an oversized brown blazer. 27-year old Elon Musk is sitting in a leather chair, in front of what appears to be a old, beige brick fireplace. “I think X.com could absolutely be a multi-billion dollar bonanza.”
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