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During this blog post, we'll discuss Musk's personality, about the man who laid the foundation for the modern world. This book summary will show us how Elon Musk is working for the benefit of humanity. In addition, we'll find out what else he's planning for the future.
This summary useful for
Those who think differently from the rest of the world
For those who want to learn about a big game-changer like Elon Musk.
It is for those who work in the aerospace, solar, and automotive industries.
Elon's World
The year 2000 was a time of depression in Silicon Valley and San Francisco. There has been a slowdown in Internet madness. The dot com bubble has discouraged venture capitalists from investing. In that era, Silicon Valley made only click-ads. It was just the beginning of Twitter and Facebook. Technology has been criticized as a failed industry. It stopped making science fiction a reality.
As part of the dot com boom, Elon Musk was also involved. He made $22 million from Zip2 after graduating from college. The software was similar to Google Maps. Compaq bought Zip2 in 1999. X.com was another start-up Musk invested in. PayPal was born out of it. Musk became even richer after eBay bought PayPal in 2002.
Musk moved to Los Angeles instead of staying in Silicon Valley. Tesla, Space X, and Solar City were all built there. As a result of his companies, he leads the automotive, aerospace, and solar industries. The future is being transformed by Musk through rockets, electric cars, and solar panels. Elon's world combines reality with science fiction.
Unlike other technology millionaires, Elon Musk has a unique worldview. As Musk said, "If we can solve sustainable energy and become a multi-planetary species...that would be really good." Today, Musk Co. has thousands of employees. With a net worth of $10 billion, it is one of the wealthiest companies in the world.
Africa
Joshua Haldeman, Musk's grandfather, flew from Canada to South Africa on his own plane. The whole family migrated with him. They moved to Pretoria. Occasionally, the family would fly to Norway, Scotland, or Australia. Errol Musk and Maye Haldeman were childhood sweethearts. Elon was born shortly after they were married. On June 28, 1971, he was born. Errol Musk is a successful engineer. Maye is a dietician. Kimbal and Tosca were their other children.
Elon showed high levels of concentration at the age of 5 years old. It was common for him to spend many hours reading. The Lord of the Rings and The Hitchhiker's Guide to the Galaxy are two of his favourite books. After running out of books, he read two encyclopedias. The Musk family had a good time. In Pretoria, they owned the biggest house. Elon's parents divorced when he was eight years old. As a child, he lived with his father and his brother Kimbal. According to Elon, his childhood wasn't happy. He didn't have a happy father.
As a child, Elon saw their first computer at the age of 10. It really amazed him. As soon as he saw one, he asked his father to buy it for him. Elon spent three days learning BASIC programming when the computer arrived. Elon was close to his brother Kimbal and cousins Peter, Lyndon, and Russ Rive. Making rockets and explosives is one of their hobbies. Additionally, they enjoy long train rides and playing Dungeons & Dragons.
Elon's school experience was quite different, however. It was common for him to be bullied. An incident really traumatized him. Elon was eating on the stairs. He was then attacked from behind by a boy. His head was kicked, and he was pushed down. After falling down the stairs, Elon was injured. He has punched again. Elon was taken to the hospital immediately. His body was covered in blood. He was unable to go back to school for a week. This situation plagued Elon for four years. He was constantly pursued by the gang without any reason. He eventually had to transfer.
Elon was eager to leave South Africa when he was 17 years old. In his opinion, American opportunities would be better than those in his home country. Silicon Valley also appealed to him. Elon fled to Canada when his family became Canadian citizens.
Canada
Musk struggled in Canada. As a result, he had no place to stay after he rode the plane. His relatives were hard to find. On his 18th birthday, he celebrated with his neighbours and the relatives he had just met. He tended vegetables and cut logs, among other odd jobs. As time went on, Kimbal arrived in Canada as well. Musk enrolled at Queen's University in Ontario in 1989. Justine Wilson, his ex-wife, met him there. Justine stood him up for their first date. Musk was persistent, however. Justine said, "He can sweep you off your feet."
In college, Musk experienced a lot of changes. Still, he talked a lot about space and energy. It was just a joke among his classmates. People with similar interests were found by Musk. As an extra source of income, Musk repaired computers. Spare parts were also sold to his dorm mates. Musk received a scholarship after two years at the University of Pennsylvania, and he continued his studies. In addition to studying economics, he also studied physics.
Musk found friends who discuss physics over lunch at Penn. With a close friend, he also rented a frat house. For $5 per head, they would hold wild parties.
For his classes, Musk wrote exciting business plans. "The Importance of Being Solar" was one of them. He predicted that solar power technology would leap forward. There will be the construction of large solar plants.
Compounds that maximize the power of solar cells were discussed with him. A paper on ultracapacitors was also written by him. Large amounts of energy can be stored in these battery cells. Their capacity to recharge and deliver power is 100 times greater than other capacitors. Electric cars and rockets are already on Musk's mind.
He was commended for his concise analysis by his professors. Complex physics concepts are no problem for Musk. In addition, he knows how to make a good profit from them. After completing college, he first thought about creating video games. But Musk wanted a career that would significantly impact the world. Space, renewable energy, and the Internet were often in his dreams.
The market potential is great for them. They would also create significant change in the future, according to Musk. Silicon Valley is busy sharing baby pictures. Musk is trying to save the human race from extinction.
Elon's First Start-up
Kimbal and Elon took many road trips in 1994. Their idea was to start a business on the Internet. Musk eventually became an intern in Silicon Valley. Upon graduating from school, he and Kimbal began to Zip2. Zip2 is an online version of the Yellow Pages. This is a directory and map of all business establishments. Elon coded the website. It was Kimbal's responsibility to sell the site.
Kimbal sold door-to-door. However, business owners don't understand the purpose of Zip2. A long time passed before they found an investor. Capitalists would finally take an interest. A $3 million investment was made by him. Newspaper classified ads were also included in Zip2. Musk was eventually removed from management as the company grew. Zip 2 moved into a larger office.
Additionally, it hired programmers to improve its codes. The company merged with CitySearch in 1998 for $300 million. There was a competitor called City Search.Zip2 was purchased by Compaq in 1999. As a result of their dot com idea, the Musk brothers have become successful. However, it wasn't easy. Musk wanted to become CEO.
PayPal Mafia Boss
In a decade, Musk went from being a Canadian backpacker to becoming a multimillionaire. He was only 27 years old. In total, he acquired $22 million. A prop plane, a sports car, and a huge condominium were among the items he purchased. Musk drove his McLaren F1 all over Silicon Valley. Musk came up with the idea of Internet banking while he was an intern. His seniors did not like it when he shared it with them. Online book purchases were hesitant in the 90s. It is not a good idea to encrypt credit card numbers on the Internet.
Musk, however, intended to create this bank online. In his new project, he invested $12 million. The online banking site was called X.com. "That's what separates Elon from mere mortals," one of his co-founders said. The amount of personal risk he is willing to take is insane. Zip2 was a neat, practical idea. Deals like that either pay off or end up in bus shelters. However, X.com is changing the banking industry. With nothing but passion, Musk enters a business. According to him, the bankers were doing everything wrong. He can do better.
In the same way as Zip2, Musk pitched the company to venture capitalists. To recruit engineers for X.com, he gave powerful speeches encouraging them to work for him. The company holds a banking license, a mutual fund license, and FDIC insurance. The site went live on the Internet in November 1999. Musk stayed in the office for 48 hours. To ensure that things are running smoothly, X.com pioneered a payment system. PayPal was the name of the new payment system. You can send money to someone just by entering their e-mail address. PayPal gained 200,000 clients within a few months. Money can be moved very conveniently through this method. It takes days for banks to process payments.
The X.com company merged with its competitor Confinity in March 2000. The majority of shares are still owned by Musk. There is no change in the name of the company. However, X.com and Confinity had a conflict. This is due to different cultures and decision-making processes. Employees wanted to oust Musk and replace him with Peter Thiel from Confinity. At the same time, Musk and Justine were on their honeymoon. Musk convinced the board to reconsider right after landing. Unfortunately, it was too late.
The company has moved on, he was told. In June 2001, Musk lost control of X.com, rebranded as PayPal. As a company advisor, Musk secured his position. More money was invested by him. As Paypal's largest shareholder, he increased his stake. However, dot com mania was coming to an end. Other tech companies wanted to sell as soon as possible.
As a result of Musk's influence, the board turned down offers. PayPal's annual revenue increased to $240 million. It is a strong, independent company that has the potential to go public. In 2002, eBay offered PayPal $1.5 billion. Musk took home $180 million after taxes. PayPal survived the dot com bubble. This was due to Musk's instincts about market and technology trends. As a result of the 9/11 attacks, the company also made a successful IPO. Despite the downturn in the technology industry, PayPal remained a winner.
Mice in Space
It was Elon Musk's 30th birthday in June 2001. It was time for him to move on from Silicon Valley. Musk and his wife moved to Los Angeles. After PayPal, he had time to pursue his dreams of space travel and rocket ships. There's no better place to start than Los Angeles. The weather in Los Angeles is ideal for aeronautics. Musk found people who share his vision. A group called Mars Society attracted him. Mars life is studied by this organization. Translife Mission is its project. The story is about an Earth-orbiting capsule. Mice are the crew of the capsule.
Musk donated $500,000 to the Mars Society and its project. Translife Mission should extend all the way to Mars, he suggested. Musk was browsing the NASA website one day. As a result, he became very disappointed. Mars exploration has no definite plan or schedule. Musk read aerospace books. To plan the rocket ship, he hired talented engineers. Low-cost rockets were studied for their performance. Russian, Boeing, and Lockheed rockets are costly. Satellites of enormous size are carried by them. For research and commercial purposes, Musk thought of cheaper rockets.
Musk earned a hundred million dollars when eBay bought PayPal. It was used to build his rocket ship to Mars. Space Exploration Technologies was founded in June 2002. Members of the Mars Society and other space enthusiasts joined Musk in Los Angeles. Musk was very excited about Space X. However, a tragedy occurred in his family. Justine gave birth to Nevada Alexander Musk, their first child. However, the baby would die within ten days.
One night, Justine and Elon put him to bed. Nevada slept on his back while lying on his back. It was a sound sleep for the baby. His parents found that he had stopped breathing when they checked him. It was sudden infant death syndrome, according to the doctors. The baby was already brain dead when the paramedics arrived to revive him. There was a lack of oxygen in his body. Three days were spent on life support. When her baby boy died, Justine held him in her arms. Openly, she mourned. However, Elon Musk firmly refused to discuss it.
Justine thought it was Elon's defence mechanism. He learned it as a child. He doesn't do well in dark places, she said. He is forward-thinking, and I think it's a survival thing for him." Musk focused on Space X's rocket launches. Justine will give birth to twins and triplets in the next five years. Musk said, "I'm not sure why I want to discuss such sad events. There is no benefit to the future from it. Wallowing in sadness does no good for anyone around you if you have other kids and responsibilities."
All-Electric
A talented engineer named J.B. Straubel purchased a Porsche. He converted it into an electric vehicle. At the time, clean technology was not yet gaining traction. For his product, he wants to find investors. Straubel was rejected for months and months. Eventually, he met Elon Musk. Musk was thrilled with the electric car. He brought in his own idea for batteries and energy storage. Straubel received his funding immediately. They continued to work together for many years to come.
In the meantime, there were business partners. Additionally, they were interested in building electric cars. Martin Eberhard and Marc Tarpenning are from Northern California. Tesla Motors was founded in July 2003. The electric motor was invented by Nikolaj Tesla, who was inspired by him. In Los Angeles, Eberhard and Tarpenning pitched Musk, their company. Their common goal was to end America's reliance on oil. Clean and sustainable energy has always been Musk's passion. Tesla became his company, and he became its chairman and largest shareholder. The company was soon joined by J.B. Straubel.
It was realized that the big car companies no longer manufacture cars. BMW's parts are manufactured overseas. Locally, the company handles only marketing, sales, and final assembly. There was a time when Ford Motors worked with raw materials. Tesla Motors is committed to building electric cars from the ground up. A prototype of the Roadster was created by Musk and his team of engineers. However, the process takes time, effort, and money. Musk was on the verge of bankruptcy when Tesla created its next product.
Pain, Suffering, and Survival
PayPal helped Elon Musk gain public attention. There was a lot of press coverage about him. There is a lot of curiosity about this multimillionaire with a strange name. He also invests a lot of money in electric cars and spaceships. Celebrities and businessmen would hang out with Musk. However, Musk is actually facing problems. Tesla and Space X are eating up all their money with electric car prototypes and rocket launches. His failed products were ridiculed by the press.
He is also experiencing a breakdown in his marriage to Justine. By 2006, they had five children, twins and triplets. In 2007, Justine suffered from postpartum depression.
Tesla has to recreate its prototype, Roadster. The Falcon 1 launch is being prepared by Space X. Musk's time, and money is being consumed by both projects. He works seven days a week for his company. It is almost impossible for him to come home. According to Justine, she is just a trophy wife, not a partner. In June 2008, Musk filed for divorce.
Justine wrote openly about her feelings on her blog. Musk and the divorce proceedings will be discussed in her posts. An investor and friend of Musk, Bill Lee, became concerned about Musk's mental health. Musk was invited to take a vacation in London. Musk met Talulah Riley, then his second wife. A meeting was arranged for him with the 22-year-old English actress. Riley accompanied Musk for the remainder of his London trip. During dinner, they talk and share stories.
Riley followed Musk to Los Angeles after a few weeks. Musk told Riley that he already has five kids. Additionally, he informed her that he was getting divorced. Nevertheless, she accepted Musk's proposal. The romance was indeed a whirlwind. Riley witnessed Musk's struggles with his companies. "He looked like death itself," she said. Space X lost millions of dollars from the failed rocket launches. I thought he would have a heart attack and die. The prototypes Tesla built cost a lot of money. There were bankruptcies in both companies.
Musk sold prized possessions like his McLaren F1. In 2008, he asked his investor friends to fund Space X and Tesla. There were even some checks written by company employees to help. Every week, Musk had to scrape together money to cover payroll. During this time, NASA was seeking a contractor to resupply the International Space Station. Musk did everything in his power to get Space X the contract. For Tesla, he negotiated another funding round with investors. Additionally, he invested all of his remaining personal funds. Solar City stocks were even sold by him.
On December 23, 2008, NASA announced that Space X had been selected to supply the International Space Station. For a total of 12 flights, the agency would pay $1.6 billion. Kimbal was spending the holidays with Musk in Colorado. During the transaction, he burst into tears. Musk arrived in America with nothing. In addition to losing a child, he went through a very public divorce. His company and his entire life's work were at risk.
Nevertheless, Elon Musk persevered. One of his friends said, "What he went through in 2008 would have broken anyone else.". Instead of surviving, he thrived. "He stayed focused and kept working."
Lift-Off
After Musk's struggles, Falcon 9 successfully launched into space. Countries and companies would use it to launch satellites. Rockets also deliver supplies to the International Space Station. Musk has spent money on the perfect rocket ship since Falcon 1. For years, his engineers have tried and failed. Currently, Space X launches one rocket per month. Locally and internationally, it has beaten its competitors. Some companies rely on foreign suppliers. However, Space X builds its rockets from scratch. In addition, the cost per launch is one of the lowest in the aeronautics industry.
Space X rockets are being improved by Musk and his team. Rockets can be reused. They can return to Earth. Engineers work to make sure the rockets land on the launch pad accurately. Musk's attention to detail and hard work made Space X successful. Musk's ultimate goal is to make space flights practical and affordable.
A colony on Mars would be possible if there were many rocket supplies. Space was boring to the rest of the aeronautics industry. However, Space X continues to improve its rockets and spaceships. Despite his best efforts, Elon Musk keeps finding ways to make science fiction a reality.
The Revenge of the Electric Car
Model S sedans were first shipped by Tesla Motors in 2012. Powered entirely by electricity, the luxury car has a range of 300 miles on a single charge. In 4.2 seconds, it reaches 60 mph. There are two trunks and seating for seven people in this vehicle. Model S runs almost silently since it doesn't have an engine or machinery like an oil car. The vehicle's rear only has a battery pack and an electric motor. The Model S is superior to other luxury sedans in almost every aspect.
The car has a 17-inch touch screen where the driver can adjust the stereo volume or air conditioning. The Model S also has a steady Internet connection for navigation and music streaming, so a bulky dashboard is unnecessary. There is no need for keys or an ignition button for the driver. The sensor detects the driver's weight and starts the car automatically once they are seated. The Model S can also be recharged at solar-powered stations scattered along highways.
The driver can purchase a Model S at a mall or order it online. Your electric car will be delivered straight to your home, office, or wherever you want. Model S requires no tune-ups or oil changes, so it's low maintenance. Tesla engineers will pick it up if it needs repair. The Model S was accompanied by a smartphone app that allows users to locate the car anywhere in the world. Tesla's electric vehicles have been transformed into gadgets with software updates, such as faster charging. In the words of one of the first owners, "It changes everything about transportation.". "It's like a computer on wheels."
The Unified Theory of Elon Musk
Rive brothers grew up with cousin Elon Musk in South Africa. Before the dot com bubble, they founded Everdream software. A new venture was on the horizon for the brothers. They should get into solar energy, Musk suggested. Solar panels were difficult to buy and install at the time. The panels weren't guaranteed to get enough sunlight on their houses. In 2006, the Rives brothers founded Solar City.
The company used a software program to determine if the solar energy source would be compatible with the property.
Solar City employees would also install the panels. In addition, the panels would be leased at a fixed monthly rate. Musk owns around 30% of Solar City. Solar City became the U.S.'s leading solar panel installer in six years. From residential use, it has expanded to companies like Wal-Mart and Intel. In 2012, Solar City went public. Its net worth reached $7 billion by 2014.
In Musk's estimation, an hour of solar energy could provide all of the world's energy needs for a year. The trick is to charge battery packs used at night or during power outages. Furthermore, efficient solar cells should be used to convert energy into light. In 2014, Musk made it all possible. All three companies started out as underdogs in their respective industries. As a result of Musk's hard work, they became the best in their fields. Tesla will have six cars on the market by 2025. A major utility company would emerge from Solar City.
In the meantime, Space X will launch humans and cargo into space every week. Reusable rockets would circle the moon. They would return to Earth and land exactly where they started.
Mars would be Space X's next target after the moon. According to Elon Musk's unified field theory, all his companies are interconnected. Electric cars are recharged by solar panels provided by Solar City.
In contrast, Tesla manufactures the battery packs sold by Solar City. Space X and Tesla share knowledge about their products' design and manufacture. Musk's meaningful worldview can be found in all three of them. To save humanity from self-destruction, he wanted sustainable energy.
Elon Musk may have faced many hardships in his life. He had a bad relationship with his father as a child and was bullied as a child. His first marriage ended, and he lost his first son. Almost everything Musk owned was lost.
He came very close to bankruptcy with his companies. He continues to be plagued by the press about his personal life and his company's failures. However, Elon Musk keeps going. Work continues to be a priority for him.
Musk is known for working weekends. His employees are encouraged to do the same. He once took a vacation to South Africa with his ex-wife Justine. He spent ten days in the ICU after contracting malaria. Musk said, "I was very close to death." It's a lesson for vacationers: vacations can kill you.
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