Advertisements

22 Quotes That Take You Inside Elon Musk’s Brilliant, Eccentric Mind

22 Quotes That Take You Inside Elon Musk’s Brilliant, Eccentric Mind

DRAKE BAER STRATEGY  JUN. 20, 2014, 12:49 PM

When Robert Downey Jr. found out that he was going to play Iron Man in the movies, he said, “We need to sit down with Elon Musk.”

That’s because Musk — colonizer of Mars, transformer of cars, shepherd of solar panels — is the closest thing we’ve got to a superhero.

Born in South Africa, he sold his first software — a game called Blastar — when he was only 11. He went on to found and sell a startup to Compaq for $300 million in 1999, and parlayed that into a major stake in PayPal, which eBay bought for $1.5 billion in 2002.

With that dough, he got into three world-changing companies: Tesla, SpaceX, and Solar City. And though Tesla and SpaceX nearly went bankrupt, each of the companies is now shifting their industries.

Yet Musk — with his 100-hour workweeks, estimated $11.7 billion net worth, and habit of never taking a note in meetings — remains enigmatic. So we went looking for clues to his vision, goals, and thinking process.

Here’s what we found.

On finding your own education

“My background educationally is physics and economics, and I grew up in sort of an engineering environment — my father is an electromechanical engineer. And so there were lots of engineery things around me.

“When I asked for an explanation, I got the true explanation of how things work. I also did things like make model rockets, and in South Africa there were no premade rockets: I had to go to the chemist and get the ingredients for rocket fuel, mix it, put it in a pipe.”

[Wired, October 2012]

On his childhood experiments

“It is remarkable how many things you can explode. I’m lucky I have all my fingers.”

[Businessweek, September 13, 2012]

On his favorite book when he was a teen, “The Hitchhiker’s Guide to the Galaxy”

“It taught me that the tough thing is figuring out what questions to ask, but that once you do that, the rest is really easy.”

[Businessweek, September 13, 2012]

On vision

“Going from PayPal, I thought well, what are some of the other problems that are likely to most affect the future of humanity? Not from the perspective, ‘what’s the best way to make money,’ which is okay, but, it was really ‘what do I think is going to most affect the future of humanity.’”

[Cal Tech commencement address, June 2012]

On (not) taking time off

“I did reasonably well from PayPal. I was the largest shareholder in the company and we were acquired for about a billion and a half in stock and then the stock doubled.

“So yeah, I did reasonably well, but the idea of lying on a beach as my main thing, just sounds like the worst — it sounds horrible to me. I would go bonkers. I would have to be on serious drugs. I’d be super-duper bored. I like high intensity.”

[Computer History Museum, February 5, 2013]

On thinking rigorously

“[Physics is] a good framework for thinking. … Boil things down to their fundamental truths and reason up from there.”
[TED, February 2013]

On the uselessness of process

“I don’t believe in process. In fact, when I interview a potential employee and he or she says that ‘it’s all about the process,’ I see that as a bad sign.

“The problem is that at a lot of big companies, process becomes a substitute for thinking. You’re encouraged to behave like a little gear in a complex machine. Frankly, it allows you to keep people who aren’t that smart, who aren’t that creative.”

[Wired, October 2012]

On the importance of talent

“Talent is extremely important. It’s like a sports team, the team that has the best individual player will often win, but then there’s a multiplier from how those players work together and the strategy they employ.”

[Business Insider, August 8, 2013]

On how to attract talent

“You have to have a very compelling goal for the company. If you put yourself in the shoes of someones who’s talented at a world level, they have to believe that there’s potential for a great outcome and believe in the leader of the company, that you’re the right guy to work with. That can be a difficult thing, especially if you’re trying to attract people from other companies.”

[Business Insider, August 8, 2013]

On the importance of feedback

“Really pay attention to negative feedback and solicit it, particularly from friends. … Hardly anyone does that, and it’s incredibly helpful.”

[TED, February 2013]

On the necessary horror of starting a company

“You encounter issues you didn’t expect, step on landmines. It’s bad. Years 2 to 4 or 5 are usually quite difficult. A friend has a saying, it’s ‘eating glass and staring into the abyss’ …

“If you’re cofounder or CEO you have to do all kinds of tasks you might not want to do … If you don’t do your chores, the company won’t succeed … No task is too menial.”

[Business Insider, August 8, 2013]

On not worrying too much about the swings of the market

“I mean, the market is like a manic depressive.”

[Dell Keynote, Dec 12, 2013]

On opening up Tesla’s patents

“Our true competition is not the small trickle of non-Tesla electric cars being produced, but rather the enormous flood of gasoline cars pouring out of the world’s factories every day.

“We believe that Tesla, other companies making electric cars, and the world would all benefit from a common, rapidly-evolving technology platform …

“We believe that applying the open source philosophy to our patents will strengthen rather than diminish Tesla’s position in this regard.”

[Tesla blog post, June 12, 2014]

On flying cars

“I’ve thought about it quite a lot … We could definitely make a flying car – but that’s not the hard part … The hard part is, how do you make a flying car that’s super safe and quiet? Because if it’s a howler, you’re going to make people very unhappy.”

[Business Insider, June 9, 2014]

On why the status quo is maintained

“There’s a tremendous bias against taking risks. Everyone is trying to optimize their ass-covering.”

[Wired, October 2012]

On when he first decided to go into space

“The thing that I got hung up on was the rocket. Getting there in the first place. The U.S. options from Boeing and Lockheed were simply too expensive. I couldn’t afford them. So, I went to Russia three times to negotiate purchasing an ICBM.”

[Youtube, November 22, 2012]

On aiming for Mars

“There’s a fundamental difference, if you look into the future, between a humanity that is a space-faring civilization, that’s out there exploring the stars … compared with one where we are forever confined to Earth until some eventual extinction event.”

[TED, February 2013]

On getting to Mars

“There will be those who can afford to go (to Mars), and those who want to go. I think if we can achieve that intersection, then it will happen … and, hopefully, it will happen before I’m dead.”

[Space.com, May 19, 2014]

On building a reusable rocket

“If humanity is to become multi-planetary, the fundamental breakthrough that needs to occur in rocketry is a rapidly and completely reusable rocket … achieving it would be on a par with what the Wright brothers did. It’s the fundamental thing that’s necessary for humanity to become a space-faring civilization. America would never have been colonized if ships weren’t reusable.”

[Wired, October 2012]

On the promise of America

“The United States — it’s sort of like that comment about democracy — it’s a bad system but it’s the least bad. Well, the United States is the least bad at encouraging innovation.”

[National Press Club, September 29, 2011]

On his philosophical outlook

“I came to the conclusion that we should aspire to increase the scope and scale of human consciousness in order to better understand what questions to ask. Really, the only thing that makes sense is to strive for greater collective enlightenment.”

[Businessweek, September 13, 2012]

On the arc of his life

“I think it would be great to be born on Earth and to die on Mars. Just hopefully not at the point of impact.”

[The Economist, May 21, 2012]

 

Advertisements

About bambooinnovator
KB Kee is the Managing Editor of the Moat Report Asia (www.moatreport.com), a research service focused exclusively on highlighting undervalued wide-moat businesses in Asia; subscribers from North America, Europe, the Oceania and Asia include professional value investors with over $20 billion in asset under management in equities, some of the world’s biggest secretive global hedge fund giants, and savvy private individual investors who are lifelong learners in the art of value investing. KB has been rooted in the principles of value investing for over a decade as an analyst in Asian capital markets. He was head of research and fund manager at a Singapore-based value investment firm. As a member of the investment committee, he helped the firm’s Asia-focused equity funds significantly outperform the benchmark index. He was previously the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. KB has trained CEOs, entrepreneurs, CFOs, management executives in business strategy, value investing, macroeconomic and industry trends, and detecting accounting frauds in Singapore, HK and China. KB was a faculty (accounting) at SMU teaching accounting courses. KB is currently the Chief Investment Officer at an ASX-listed investment holdings company since September 2015, helping to manage the listed Asian equities investments in the Hidden Champions Fund. Disclaimer: This article is for discussion purposes only and does not constitute an offer, recommendation or solicitation to buy or sell any investments, securities, futures or options. All articles in the website reflect the personal opinions of the writer.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: