WELCOME TOPIC : ENTREPRENEURSHIP

PAYPAL SPACE X TESLA.INC HYPERLOOP OPENAI THE BORING FACTORY NEURALINK ELON MUSK PAYPAL SPACE X TESLA.INC HYPERLOOP OPENAI THE BORING FACTORY NEURALINK

Meet ELON MUSK, the young, ultra successful entrepreneur Meet ELON MUSK, the young, ultra successful entrepreneur. Even ROBERT DOWNEY JR. used him as an inspiration to portray his character as iron man. Its almost impossible to believe these incredible companies are the brain child of the same man.

BORN: 28th June 1971 PLACE: Pretoria, South Africa PARENTS: EROLL MUSK and MAYE MUSK CITIZENSHIP: SA (1971 To Present ), CANADA (1989 To Present),USA (2002 To Present) TITLES: CEO, Lead designer Of SPACEX, CEO of TESLAINC, CEO Of NEURALINK, Founder Of “The Boring Company”

EARLY LIFE In 1983, at the age of 12 Elon Musk sold a simple game called “BLASTER” computer magazine for $500. After graduating high school Elon moved to Canada, he spent two years studying at Queen University in Kingston. But he finished his studies at the Pennsylvania taking home one degree each in Physics and Economics. While studying at the university at Pennsylvania Elon and his fellow student Aduressi rented out a 10 bedroom flat and turned it into official night club. After graduation he travelled to Standford University to study for his PhD but he ended up deferring his admission after only two days but he never completed his studies at Stanford.

ZIP2 He decided to test his luck in the justbeginning dot-com boom. Elon and his brother took $28000 of their fathers money, started ZIP2 a web start up that provided an online city travel guide software to newspapers like New York times and Chicago Tribune. While ZIP2 got off the ground, Elon once said that he literally lived in the office and showered at the local YMCA. It all paid off when COMPAQ bought zip2 in a deal worth $341 million in cash on stock making Elon $22 million alone.

PayPal Using $10 million of the money he got from the sale ZIP2 Elon started x.com, an online banking company in 1999. After one year x.com merged with confinity, in money start up co founded by Peter Thiel to form a new company named “PAYPAL”. He was named the CEO of PayPal but it wouldn’t last long he started huge fight among the co founders by pushing them to move their servers from the free unique operating system to Microsoft windows. In late 2000 he was fired by the board. Still he stayed the single biggest shareholder in Pay Pal, netting him $165 million dollar of the 1.5 billion dollars that ebay paid for PayPal in 2002.

SPACE X As a fan of science fiction he wanted to send mice or plants to mars, he even wanted to buy soviet missile for that purpose, but they demanded $8 million for each. He thought he would build his own cheaper. In 2002 he founded SPACE X or space exploration technology so it would make space flight cheaper by a factor of 10. Falcon 1and 9 are first vehicles of SPACE X. His goal is to colonize mars at affordable cost, he said that SPACE X wont IPO until, mars colonial transporter is flying regularly. In late 2008 SPACE X got a contract from NASA of $1.5 billion to deliver supplies into space. By the end of 2015 SPACE X made 24 launches on resupplying the international space stations. The falcon 9 made the first successful water landing of a reusable orbital rocket which is one of the biggest achievement of the decade.

TESLA.INC In 2004 he invested $17 million in TESLA motor an electric car company co founded by MARTIN Ebbrhard He helped develop the all electric TESLA ROADSTER the company first car was launched in 2006 Under Ebbrhard, TESLA was burning way more cash than it was taking in. In 2007 Elon and co fired Ebbrhard and he became the CEO He bought solar city corporation under TESLA.INC, that specializes in solar energy services Tesla encourages electric cars which is the alternate for fossil fuels Today Tesla is worth more than ford and general motors with $53.5 billion Elon cant stop coming up with new idea like HYPERLOOP; OPENAI (a non profitable organisation which works on artificial intelligence); NEUROLINK (connecting human brain connecting with machines); The Boring Company (infrastructure and tunnel construction) and so on.. And it is just the starting….

THE TRAGIC PART In 2008 tesla kept losing money and SPACE X was having trouble launching its falcon 1 rocket. He invested again 40 million dollars into tesla and loaned $40 million to save the company from bankruptcy. In late 2008 Elon was living off personal loan just to survive. He described 2008 as the worst year of his life. THE NEW BEGINNING He waited with patience and trust on himself and his work and it rewarded him later On Christmas eve 2008 he got two pieces of good news i.e. he got contract from NASA of worth $1.5 billion dollars and tesla finally found more outside investors. Then he never looked back from there.

FUNCTIONS RISK TAKING He undertook risks which were both insurable and non insurable and he strongly believed that risk is directly proportional to profit gaining. EARNING PROFIT Profit can be earned and maximized by increasing the sale and by reducing the cost he proved this by SPACE X.

INNOVATION DECISION MAKING Elons primary function is innovation. He always thinks innovatively, reusable rocket is one of the best innovation in this decade. PayPal is the pioneer in online banking valet. Tesla roaster is the best car in the world with full automation. DECISION MAKING Whatever the decision Elon took he withstands on it he proved it in PayPal which gave him $165 million from just $10 million. We can see this in tesla and SPACE X too.

QUALITIES Patience: He has the ability to wait for results, we can see that as he invested $40 million again in sinking tesla and he waited for 7 years for profit by SPACE X. Foresight: he started PayPal by thinking that online banking is future and his idea of colonizing mars and producing electric cars, he is researching on AI(a revolution that has more importance than industrial revolution). Decisiveness: he took rational and quick decisions, we can see this in tesla company as he fight CEO to reconstruct it.

Innovative: He is always innovative as we already discussed in functions. Self Confidence: I think self confidence is the main reason for his success we can see that in SPACEX and tesla Energetic: How many work he is doing continuously he never gets tired. he always says that working harder than anyone is all that changes you from the other.

“YOU HAVE TO BE LIKE SUNRAY , IF SOMETIHING STOPS ITS WAY IT WILL FIND HUNDREDS OF WAYS” _ THE IMMORTAL GROUP

Thank you The Immortals Group, SEICOM Group Of Institutes