Analysis of the Vision, Guidance, and Strategies of the Tesla Company
Tesla has come a long way from its days before Elon Musk. When Musk joined Tesla he not only became the CEO, he became the face and voice of the company. He has provided the vision and guidance for the company that has led to the success that it has seen in the market. Moreover, Musk has transformed an ill-viewed concept of electric vehicles, into a flourishing, respected, and desirable automobile. He continues to advance his company and its technology at a rapid pace. Where they were once trailing the traditional car manufacturers, they now look at Tesla’s offerings in an attempt to emulate their concepts.
Tesla has encountered its share of growing pains, in its attempt to gain a foothold in the automotive industry. Their issues include manufacturing delays and quality control complaints that are still outstanding today. As many of these continue to be resolved, they have marred their reputation, and cast doubt in their abilities to reach full production scale.
While BMW has remained a consistent, reliable brand in the automobile industry, Tesla is gaining momentum as a young company, competing against a large scale of experienced manufacturers. The accessibility of BMWs dealerships far outnumber those of Telsa with 330 BMW dealerships compared to 96 for Tesla, nationwide. This allows customers to easily test drive vehicles and drive a car off the lot. In addition, customers can schedule service appointments and drive right into the dealership or those authorized to inspect BMW. Due to the sophistication and technical nature of the Tesla vehicles, the limitation on those who can work on their cars is high. Only Tesla can work on them. Tesla’s challenges include the dynamics by which vehicles are sold, the growth of the charging stations, and the sophistication of their vehicle technology.
There are several recommendations that we believe Tesla can benefit from. First, they need to address their quality control issues. While this may impede their rate of production, they can establish a validated method of reviewing their manufacturing process necessary for quality control. In the long run, this will benefit not only the employees, but it will make the customer happy as well. Second, they must continue to innovate on the software components of the vehicle. This will further differentiate themselves from the other automobile makers that have traditionally focused on the hardware of the vehicle and its driving performance. Tesla can continue to be a market leader through continuous investment in their autopilot/driver assist technology. Lastly, Tesla can continue to utilize social media avenues to promote and market their vehicles. Social media applications like Facebook, Instagram, Twitter, and YouTube, were virtually non-existent 10 years ago, but Tesla has capitalized on its followers and post sharing to gain exposure and brand awareness using this media.
Tesla is a very young company that has already made its mark in the automobile industry. Tesla has set a high standard for competitors by successfully developing a range of all-electric, high performance vehicles, that have no carbon footprint. Although Elon Musk is very outspoken, he has brought free marketing value and brand promotion worldwide. We see Tesla as a company that will continue to flourish and advance the electric vehicle industry for years to come.
Tesla’s Plans to Make the World a Better Place
Cars, planes, boats, trains, power plants, and even rockets will cease to run. The world as we know it can’t sustain itself like this, with the earth only containing a limited amount of fossil fuels. They won’t last us forever (Koppelaar, Rembrandt, and Middelkoop, 28). In addition to this problem, when burned, fossil fuels emit carbon dioxide into the air causing global warming and air pollution. However, Tesla Motors has acknowledged these problems and seen that renewable energy has become less expensive and easier to produce. Elon Musk, founder of Space X, PayPal, and CEO of Tesla has been very wise by significantly investing seven million dollars in Tesla on February of 2004 (Koppelaar, Rembrandt, and Middelkoop, 34). Despite Musk’s efforts, it’s difficult to tell if Tesla Motors will make it. Today, most of our potential-to-kinetic energy converters, like motors, and engines, involve, in one way or another, an internal combustion engine, causing unnecessary and excessive amounts of air pollution, but further uncontrolled contamination can be easily avoided by using a corresponding alternative.
Today in the United States, no one can live without electricity, people need power all day every day to survive. However, most power plants still use fossil fuels to generate electricity even though supplies are at half of what they used to be (Koppelaar, Rembrandt, and Middelkoop, 28). This will remain the case for the next five to ten years (Reinert, 89). The problem is caused by the high prices of solar energy converters and the lack of research and development on renewable energies. One hundred seventy-eight governments have come to acknowledge the situation and are now striving to find solutions. In two thousand fifteen alone, three hundred twenty-nine billion dollars were spent developing renewable energies, as opposed to the one hundred thirty billion designated to fossil fuels (Koppelaar, Rembrandt, and Middelkoop, 29).
Tesla Motors was founded in 2003 by Martin Eberhard and Marc Tarpenning (Boudette). Eberhard loved fast cars and big engines but despised the fact that they used fossil fuels. He got together with Marc and they created something to change the world. In February 2004 Elon Musk, with the same interests, saw potential in their company and decided to help them out, donating seven million dollars of his personal funds. In addition to Musk’s efforts to boost their company, thousands more became interested and over one hundred million more dollars were added to the company. The company started to fall apart in 2008. So, Elon Musk claimed possession of the company and added to it another forty million dollars. By 2016 the company was worth a staggering five billion dollars (Koppelaar, Rembrandt, and Middelkoop, 34).
Having made his fortune in Silicon Valley, Elon Musk is one of the richest men in America. However, Elon Musk isn’t one to settle with a lot of money. After he sold PayPal, he used his money to pursue his dreams. In 2004 he founded Space X with the goal of colonizing Mars (Belfiore, Michael, and Tadaomi Shibuya, 103). Later, while working with Tesla, he created a way for all of Tesla’s vehicles to be connected to each other through Cellular transmitting (Boudette).
The first car Tesla Motors produced was the 2008 Roadster. The roadster was all electric with a range of up to 200 miles. It used lithium-ion batteries and an AC electric motor. Secondly, Tesla composed the Model S, a four-door sedan. Capable of up to two hundred and fifty miles on a single charge, this car was nothing like an electric vehicle of its day. The model S was able to accelerate from zero to sixty in under four seconds. Making it equivalent in acceleration to the million-dollar McLaren P1. Sales for the Model S started at a base price of seventy thousand dollars, and over one hundred forty-five thousand of them were sold by September of 2016 (Koppelaar, Rembrandt, and Middelkoop, 37-38). Also, in 2016 the Model X was released. With a similar range of two hundred and fifty miles, the Model X reached sixty miles an hour in five seconds. This falcon winged SUV sold for a little over one hundred thousand dollars. Tesla’s latest release is the Model S’s little brother the Model 3. Starting at thirty-five thousand dollars, its meant to bring electric vehicles to everyone, not only the wealthy. The Model 3 is an exact replica of the Model S only 12 centimeters shorter and a semiautonomous autopilot option (Koppelaar, Rembrandt, and Middelkoop, 37-38). In the future, Tesla intends to make more vehicles including semi-Trucks, pickups, The Model Y, and a new version of the roadster (Boudette).
Despite the amount of technology that has gone into these vehicles, they still prove themselves to be imperfect at times (Boudette). Tesla has begun to develop self-driving capabilities in most of their vehicles (Burns, 89). Boudette says that the fatal accident in May of 2016 involving a Semi-trailer and an autonomously driven Model S, is a demonstration of how these systems are still in their “beta stage” and are very much in need of development. Elon Musk, However, still says that the vehicles are “Better than a person” even though many people report incidents that they have to take control of the vehicles to avoid collisions (Boudette). Tesla is still working on this technology. Many people say the software download is insufficient and hardware must be updated as well. So, Tesla is working on updating their cameras to include radar and possibly developing new technologies including lidar (Boudette).
CEO of Tesla, Elon Musk practically built Tesla out of nothing. Without musk, Tesla would not exist. He alone invested seventy million dollars of his own money to keep Tesla from bankruptcy. As of 2016, Elon Musk owns thirty million shares of the company which puts him in thirty-seventh on the list of richest Americans alive today. Musk pushed Tesla to open its first lithium-ion battery making Giga factory in northern California in 2016 (Koppelaar, Rembrandt, and Middelkoop, 34-35). Despite Musk’s vast amount of work and sacrifice in the past, he is still one of the hardest working people at Tesla. Working just as hard to maintain the dream as he did to obtain it, Musk spends most of his time at the plant trying to smoothen out and speed up the production of the Model 3. Elon Musk, CEO of Tesla doesn’t even have an office on site (Boudette).
For Tesla to meet its goals, that it had to produce a low-end product that still showed true to the company’s reputation (Koppelaar, Rembrandt, and Middelkoop, 38). The model 3 has become so popular among Tesla’s consumers that Elon Musk is in “production Hell” because of the number of preorders made on the car (Boudette). Production has proven to be much more chaotic than expected. with malfunctioning robots that create lower quality products, and delays in the production line. Tesla has run into many more obstacles that were originally foreseen by the company (Boudette). Production needed to be sped up to meet deadlines, so Elon Musk ordered a tent, fifty by hundreds of feet to be assembled outside of the factory’s doors to house a third assembly line for the Model 3. A fatal accident in May of 2016 delayed the full autonomous update that Tesla had intended to install on all their vehicles (Boudette). However, all of Tesla’s vehicles are equipped with the necessary hardware to be fully autonomous, and they are now ready for he the software to be approved by the department of highway safety (Boudette).
The Life and Achievements of Elon Reeve Musk, the Iron Man
Johannesburg which is the biggest city in South Africa is hometown to Thato. Thato is a well-built, broad-shouldered and muscular boy. He is also very confident. Thato believes that asking questions is very important but the most difficult task is to find out which question to ask. He knew at an early age that it is necessary to ask the right questions if you want the right answers. That was not very hard for Thato. He had many questions. The right ones. The kind of questions he would ask took everyone by surprise. It was questions that not even a grown-up could think of. Once, when he was four years old he said: “Dad, where is the whole world?”
That day his father’s doubt was confirmed. Thato was very different from the other boys. At school, Thato’s different nature was not very appreciated. He was the youngest kid in his grade and was bullied by a gang all the time. He was always the victim. So, one-day Thato got enough of it and started spending time with his books instead. He would read anything he could find. Sometimes even books he was too young for but he knew that the only way he could find out the meaning of life was through books.
Thato had many other hobbies too. The next one would become learning about computers. He just needed to convince his father to buy one for him. So, Thato begged his father until he agreed. Thato was 10 when he got his first computer and he stayed up three nights in a row to learn everything there was to learn about a computer. And just a few years later Thato had programmed his first game and was ready to sell it. It was called “Blaster” where you had to destroy the enemies with the help of spaceships.
Now that Thato had created a game, he thought he was ready to start his own business. He spoke to his brother about it and he agreed to help him. There was only one small problem. No one would let them as they were too young to sign a contract. Thato knew that if he wanted to change the world he had to go to the United States. He had heard this was the place where all dreams come true.
By asking the right questions, Thato knew what would be of most importance to the future human beings. Thato figured it out that it was three things: Internet, space travel, and energy. Now he just had to get to the United States so he could start working on them. Thato’s father was not ready to help him with the money for the college in the United States. He would say: “Why can’t you study here in South Africa, son?” But Thato was determined. If his parents were not going to help him, Thato decided to make his dream come true on his own. He worked hard and got a scholarship in the United States. Here he got a degree in physics and economics.
Now was the time when Thato’s true test began and he was not planning to fail. He decided to start a company but while he was away on vacations, someone fired him. But as I said, Thato was very ambitious and he was not planning to fail. He was aiming higher. He wanted to send mice or plants to Mars. And he was not going to rest until he succeeded in his mission. So he started to work on that. Soon, his first spacecraft was created and he decided to call one of his earliest spacecraft’s “Puff the Magic Dragon” because no one believed he could do it. His next move was to build an electric car and he started helping out a company called Tesla to develop its first car the “Roadster”.
Thato continues relentlessly to work on his mission to answering the right questions. He does that by building space rockets, electric cars and learning about robots. He wants to ensure that everyone can travel to Mars one day. This is why some people call him the Iron Man. Thato’s real name is Elon Reeve Musk and he is a true inspiration for everyone who is looking for the right answers. As for Elon Reeve Musk, he still has a lot of work to do. His goal is to make the world a better place by changing one thing at a time.
Elon Musk’s Path to Success
In five hundred years, we may look back and say, “Elon Musk was the single most influential person of our entire century.” He has been able to do more in his 46 years than most of us could hope to do in ten lifetimes and yes, part of that is because Elon is incredibly smart and he works incredibly hard. and we’re so hot up; we had just one computer so the website was up during the day and I was coding at night. work hard, like, every waking hour.” That’s the thing I would say if your particular if you’re starting a company But working 100 hours a week still only puts you at two-and-a-half times as much as the average employee. And most geniuses do not make the international impact that Elon has. In fact, the man with the highest IQ in the world, Chris Langan, is a bouncer. So while smarts and work ethic are critical to Elon’s success, in order to impact the world, you simply have to be able to influence other people; there’s no way around it.
That includes employees investors and the public at large and Elon Musk is unique here because on this channel, we can normally point to a leader’s ability to nail a public speech. For instance, take the way that Steve Jobs controls silence in this next clip..and we believe that in this world; people can change it for the best. And that those people who are crazy enough to think they could change the world are the ones that actually do. But Elon doesn’t have the same presentation ability as Jobs. While he definitely has moments of wit and humor, he often stumbles over his words or speaks without modulating his voice and he tends to use a lot of fillers like um and uh..it’s not because I wanted to, it’s because I couldn’t hire anyone. Nobody good would join. Um, so. um, I ended up being that by default. None of this is meant as a criticism; it’s meant to point out how special it is that Elon is actually more famous and more sought out than most extroverted rock stars on the planet which is why, in this video, we’re going to break down what you can do to make that kind of impact on people so that you can achieve ten times more than your peers.
And I will say though, brushing up on presentation skills is still going to be important for most people so I’m going to link to helpful videos now in the corner and in the description. First off, one thing that we just hav to acknowledge is how gifted and hardworking Elon is. He was writing computer programs as a child and his work ethic has only improved since then. This next sentence is coming from a man with five children running three companies. I’m available 24/7 so as to help solve issues. Call me 3 a.m. or Sunday morning; I don’t care. But even all that brainpower and hard work isn’t enough to avoid failure. In fact, the higher that you set your sights, the more likely you are to fail repeatedly along the way which means an absolutely critical component of high achievement is dogged perseverance in the face of failure. and without a doubt Elon Musk has failed more spectacularly and at higher cost than anyone who will watch this video. Take SpaceX, the first three rockets at SpaceX didn’t work as they had planned. He burned through 100 million dollars of his own money and was still going bankrupt. Or Tesla, when they IPO in 2010, Jim Cramer said this — You don’t want to own this stock; heck, you shouldn’t even rent the darn thing. I think Tesla will have the same trajectory as A123 which we told you would have a great first day pop when it came public but then it would be a dud afterwards.
In 2012, nearly 10 years after Tesla was founded, Mitt Romney who was running for president told the nation that Tesla was a loser.but don’t forget, you put 90 billion dollars — like 50 years worth of breaks — into into solar and wind, to Solyndra and Fisker and Tesla. I’ve a friend who said you don’t just pick the winners and losers, you pick the losers. Have you ever spent five years of 100 hour weeks and all of your money on something and then still had it not work? Have you spent ten years on a project and then still been publicly ridiculed as a dud? And have you persevered in spite of all of that? Most of us have not and would not. So where does Elon’s perseverance come from? Well, it’s because business failure would not bother him nearly as much as a failure to do something challenging, worthwhile, and exciting.and there need to be reasons to get up in the morning. You know, life can’t just be about solving problems; otherwise, what’s the point? There’s got to be things that people find inspiringto and make life worth living. When Elon’s talking about problems here, he means the daily things that occupy most of us like getting by at work, earning more money, making sure that other people approve our decisions… Ask yourself — what has guided your decisions? Feeling financially comfortable, being widely respected, or doing something that inspires and excites you? There’s no wrong answers here but people who achieve at a high level almost always view not doing something impactful as a much bigger risk than financial or social failure. It’s not that they don’t care about those things; it’s that not feeling like they are doing deeply meaningful work is far worse to them which brings us to the second point — vision. Because without a clear vision for the future, it’s really hard to care more about inspiration than paying your rent for instance or the criticism of your entire peer group.
So here was Ellen’s vision for SpaceX. Um, if you consider two futures — one where we are forever confined to Earth until eventually something terrible happens or another future where we are out there on many planets or maybe even going beyond the solar system — I think that second version is incredibly exciting and inspiring. Interestingly, this wasn’t always the vision for SpaceX even though that was Elon’s end goal. He just wanted to inspire other people to pursue space travel by doing one smaller project on Mars that would spark their imaginations. I came up with this small philanthropic mission which would be to send a small green house to the surface of Mars which was called Mars Oasis. Upon landing the seeds with dehydrated nutrient gel, you hydrate it upon landing and you have this little greenhouse and then the money shot would be green plants against a red background. Regardless of the specifics, a leader must be able to paint a picture of a desirable future; that’s what puts the “vision” in visionary and it’s how they persist through the inevitable setbacks and it’s how they encourage other people in their organization to do the same. That’s really what took us to the moon in the first place. We shall send to the moon, 240,000 miles away from the control station in Houston, a giant rocket more than 300 feet tall on an untried mission to an unknown celestial body..We choose to go to the moon in this decade and do the other things not because they are easy but because they are hard. So if you want to achieve, you need a vision; but how do you get a vision if you don’t have one?
Well, you start by exploring. You travel. You say yes to activities outside of your comfort zone and, very importantly in my opinion, you read because many of the most influential people in the world point back to a specific book that shaped their vision. Just listen to Elon talk about a book that he read as a kid.like the Foundation series from Asimov is.. a really. like, one of the best ever. That book by the way is about a scientist who creates a foundation for reducing human suffering and expanding human consciousness across the galaxy. Does it sound familiar? Now, books hold a special place in my heart but your vision doesn’t have to come from reading. It can come from watching movies or listening to podcasts, playing sports, hiking in the woods, spending times with people that you love. What’s important is that you would expand your sphere of influence and frequently ask yourself, “If I had a magic Genie and anything were possible, what would I like to create?” That kind of question helps you break through the yeah-but-it-would-never-work filter that so many people have and of course not everything you dream up is going to wind up working out but almost every inspiring vision feels impossible in some way. Even mine for Charisma on Command felt like a total pipe dream just a year before it became my reality. So start with wild visions that get you excited and only later ask yourself if they’re feasible.
Elon actually uses a first principle analysis to determine this but that is beyond the scope of this video so look it up on Google if you’re curious for more because there is one more element that I want to touch on here that really takes Elon Musk to the next level in terms of what he’s able to achieve and how he’s able to influence others and it’s that his visions aren’t just about him. There is no Musk Industries. Tesla is named after an inventor from the 1800’s. The rocket from SpaceX is named after the Millennium Falcon and the Boring Company, well, that’s just too silly play on words. The point is that Elon doesn’t seem as concerned with his name as Tony Stark who he’s often compared to. Even more unique, Elon Scholl isn’t just for his businesses to win — of course, he would like that — but listen to how Elon Musk talks about GM competing with Tesla. I think if GM comes to market with a compelling electric car, that’s great. The goal of Tesla from the beginning has been to accelerate the advent of sustainable transport so I think if GM or any other company comes out with compelling electric cars that’s good for the world then we’ll applaud them. In other words, Musk’s overarching vision for the future views humanity collectively. In the end, we’re all on the same team. That’s why in addition to just rooting for GM, he actually made Tesla’s patents public.
Now, obviously, Elon would like Tesla to succeed as a company but he really also wants humanity to have an economically viable electric car no matter who makes it happen. Contrast that with any number of other businesses, and I’m sure you can think of a few, that pursue profits at the expense of what would be best for society. So remember this — your vision can only be as inspiring as the amount of people that it positively impacts. Elon’s visions include all of humanity so he’s become a worldwide celebrity despite not being the world’s greatest public speaker. And if you want to make a bigger impact and inspire more people, you have to ask yourself,, “Who would it be fulfilling to help?” Your answer can be all of humanity or kids or your local community or whoever you want but if your aim is to inspire others and to achieve more, the vision just has to go beyond your own comfort; there’s no way around it. So to recap back-to-front since that’s actually the way that this stuff gets implemented in your life, first, you have to clarify your values — who do you want to help?
There’s nothing inherently wrong here with selfish motives but it does have to go beyond you in the same way because it needs to captivate the imaginations of other people if you’re going to achieve at this massive scale. Second, imagine an amazing future. Paint the picture because that’s what a vision is and if you need more inspiration I personally recommend reading more than just about anything. The initial vision for Charisma on Command came from The 4-Hour Workweek but I was also influenced by sci-fi novels like Ender’s Game that talk about strategy and leadership so you have to pursue your interests here. As Steve Jobs said in his famous commencement speech, “…and much of what I stumbled into by following my curiosity and intuition turned out to be priceless later on.
Why Great Success Can Bring Out the Worst Parts of Our Personalities
By any measure, Elon Musk is exceptionally successful. Having cofounded and sold PayPal, he quickly moved on to launching a range of ventures with world-changing aspirations for how we generate energy, transport ourselves and our goods, interface with machines, and explore our solar system. These ventures are unified in their vision — really more of an obsessive quest — for a more sustainable and resilient future for humanity, executed through a mixture of brilliant engineering and out-of-the-box thinking. To be sure, the ultimate success of these endeavors remains an open question, but so far they have defied expectations and inspired people around the world.
There is no questioning the fact that Musk’s talent for entrepreneurship, defined as the ability to translate original and useful ideas into practical innovations, is truly outstanding. And yet there is also an evident other side to Musk, which has recently manifested — rather often — in his combative engagement with investors, the media, employees, and social media and in his seeming difficulty with accepting criticism. This pattern of behavior, which stands in stark contrast to the humanistic nature of his vision for positive change, undermines his leadership qualities and has led one New York Times opinion columnist to describe Musk as the “Donald Trump of Silicon Valley.”
Of course, there is a long history of successful entrepreneurs, industrialists, and self-made billionaires who stood out equally for their talents and achievements and their eccentric, difficult, or volatile personalities. Howard Hughes spent most of his later life in complete isolation rather than have to engage with the public and the resulting exposure to the germs he so feared. John Paul Getty installed a coin-operated pay phone in his villa to avoid subsidizing his guests’ phone calls; at the time, he was the richest man in the world. Tim Armstrong, during his tenure as the CEO of AOL, fired an executive on a live conference call after the exec snapped a photo of him for the internal website. Steve Jobs was known for berating employees and suppliers in unprintable language.
The successful-entrepreneur-as-difficult-person stereotype is so entrenched that many people assume these difficult traits are what cause entrepreneurial success. In fact, it’s far more likely that exceptionally talented people like Musk, Hughes, Jobs, Getty, and Armstrong succeed despite these traits. For most of us (who aren’t as brilliant as they are), letting these difficult traits have free rein would lead to dire consequences for our careers and personal lives.
While these “dark side“ behaviors don’t cause success, success can definitely exacerbate them. Success often strengthens the undesirable side of people’s personalities, perhaps because power lowers their motivation to positively manage their reputation. The more power and influence you have, the less interested you will be in pleasing other people and in keeping your dark side in check.
Silicon Valley, with its myth of the lone innovator who disrupts the status quo, is particularly susceptible to these dynamics. To be sure, an entrepreneur’s air of supreme confidence can inspire and energize followers, and research indicates that a little bit of egomania is not just common among high-performing leaders but also beneficial. But there are two problems with this: First, these benefits disappear during difficult and complex times. Second, a large number of leaders display much more than a small amount of narcissism once they meet with great success. What is initially a strength — thinking differently and being ready to defy social convention — can become a weakness once all checks on one’s behavior are removed. Soon, such behavior becomes self-defeating. In particular, four psychological factors pose a risk to derailing entrepreneurs once they finally achieve the long-awaited success:
Overconfidence. Exceptional success can lead to deluded self-perception. No matter how much people achieve, there can be a point where their self-views surpass their achievements, making them unaware of their limitations and unjustifiably pleased with themselves. This leads to overconfidence in one’s abilities, or what the ancient Greeks referred to as hubris: pride that offended the gods, and invited a godly punishment in the form of a humbling.
Success creates a flattering image of oneself, which can often be magnified in the media — leading to minor or, in the case of people like Jobs and Musk, major celebrity status. This can frequently lead to enhanced narcissism, as successful individuals try to protect their flattering image in the face of inevitable tailwinds and drawbacks. When questioned or challenged, narcissists typically react aggressively and double down by introducing even stronger claims. It should also be noted that narcissism often coexists with charisma and charm, which led Sigmund Freud to suggest that we are somehow wired to admire people who admire themselves: We often display overt love and admiration for our leaders and role models as a substitute for expressing self-love. However, recent research indicates that the more contact we have with narcissistic leaders — the more we actually get to know them — the less positively we evaluate them.
It is hard to speak truth to power, especially when faced with impressive and charismatic individuals whose approval leads to both tangible and intangible benefits for others. Success creates a scarcity of negative feedback and news, and increased flattery and servility. The more status and power you have, the more you will intimidate others and the more you will surround yourself with people who flatter you — turning your inflated self-views into a self-fulfilling prophecy. Executives who react badly to negative news and who consider themselves superior will have little incentive to establish a strong and independent team that can provide much-needed critical and brutally honest feedback. All of this is exacerbated by increased loneliness and isolation, which can eclipse an individual’s ability to get an accurate picture of what’s going on.
One of the attractions of success is increased insulation from the consequences of failure. Such freedom and independence allow one, at best, to become more relaxed and authentic. However, such behaviors can shade into eccentricity and antisocial rants when left unchecked. A reduced need for self-control in turn leads to lower productivity and lower quality of interpersonal relationships. Lashing out against critics in situations where one is better off remaining silent can often be best understood as a failure of self-control.
Many of us would like to be wildly successful, but at some point being wildly successful means you will have to face up to these four psychological challenges. The good news is that, compared with the kinds of business, engineering, or geopolitical problems that successful leaders have to face, managing your “Mr. Hyde” side is a relatively straightforward problem. But it does require a minimum of self-awareness, emotional reckoning, and work that likely goes against the grain. There are three specific things leaders in this situation can focus on:
Difficult things are difficult — and there should be no shame in admitting it. For example, venture investing is a difficult activity. That’s why Bessemer Venture Partners, the oldest venture capital firm in the U.S., keeps an anti-portfolio, a list of investments it could and should have made but did not. Indeed, USC professor Philip Tetlock’s research indicates that better prediction comes from adequate humility and tracking one’s performance and errors.
Welcoming checks and balances
Perhaps the most counterintuitive piece of our advice — welcoming some limitations on our own power, and assuming that those limitations are imposed through the good judgment of competent people — creates the right conditions for one to be challenged. Designing for conflict and limiting our own power is a tool that recreates the capacity for self-control and the stability it brings.
Being truly coachable
Many individuals claim they actively solicit negative feedback. But in reality, their resistance to such feedback is subtle but noticeable, fueled as much by personal emotions as by the very real need to project confidence as a leader. Therefore, the first step toward being coachable is to establish private space and trust with a set of individuals whose feedback one respects. These individuals should have both the knowledge and the day-to-day experience on the matters where you need feedback. Having a trusted executive team is the best way to achieve this.
Exceptional success comes at a cost
What at first seems like an indulgence and reward can become its own trap, isolating people in an increasingly small universe of their own making. No great thing can be achieved from such a small launching pad.
Perhaps the simplest solution is to remember that we didn’t get where we are alone. When we glorify the archetype of an exceptional individual who builds reality out of a dream, it can create the conditions for making career success a dangerous catalyst of disturbing behaviors. Instead, we should remember the C.S. Lewis saying: “Humility is not thinking less of yourself, it’s thinking of yourself less“.
Spacex Falcon Heavy: Successful Launch and the Future Steps
The SpaceX team has successfully launched and landed the Falcon Heavy rocket in the orbit of the earth. This is the largest rocket in operation and during the launch the atmosphere was electric. Falcon Heavy is the largest and most powerful rocket available capable of carrying twice the payload of its closest competitor the mission was largely a success and the payload was delivered without a hitch. They sent the Elon Musk’s original cherry red Tesla Roasters with a mascot star man wearing the SpaceX spacesuit. The Falcon Heavy consists of 27 engines with five million pounds of thrust that’s as much as eighteen Boeing 747s in fact it’s so much thrust that there’s no need to run the engines at maximum capacity during the launch instead the thrust is throttled and optimized throughout the flight.
SpaceX was so close to failing when they attempted to launch their first rocket the Falcon 1 they failed three times and they had just barely enough money for one more try .September 28th 2008 on the 4th and final attempt SpaceX became the first private company to launch a liquid-fueled rocket that could reach orbit fast forward a decade later and they’re making history again.
Falcon Heavy rocket would take off from Kennedy Space Center and then releases payload out into space, two of the rocket boosters would be programmed to return back to Cape Canaveral to be recycled while a third booster which will be traveling much too fast to me the Cape would be landing on a floating platform 500 kilometers offshore with the Boosters measuring 16 stories in height it was a tall task. The Falcon Heavy is essentially three Falcon nines strapped together with some modifications carried out but it wasn’t as easy to get flying as it may first seem. According to Elon at a press conference post-launch they had to be alterations to the Boosters and the main core had to be almost completely custom built.
Starman and his Tesla now will be getting thrust into deep space on its way to an elliptical orbit around Mars for about a billion years meanwhile the 16 story tall rocket boosters returned down to earth. Two of the three rockets required to turn the main stage back to earth failed to cause the main stage rocket to be lost it slammed into the ocean at over 400 kilometers an hour 100 meters away from the floating barge regardless the launch was hailed as a success and is a huge step in the road towards regular space launches as now the price has been cut by four and a half times for the equivalent competing rocket United Launch Alliance as delta 4 heavy which is less powerful costs around 400 million dollars and the Falcon Heavy 90 million and this is one-tenth the cost of NASA’s planned space launch system that’s in development to venture out to the Moon and Mars the main cost savings here come from the fact that the Falcon Heavy is a reusable design one of the aims of the mission was to collect vast amounts of data in order to perfect launch procedures the end goal was to make such launches commonplace and as safe as aircraft travel which is the safest has ever been. The press conference Elon stated that ” The Falcon Heavy opens up a new class of payload and can send cargo all the way to Pluto if we wanted no gravity sling needed”.He states that this could encourage other countries and companies to do bigger and better he wants a new space race. Elon also did mention that the BFR method is the way forward but this Falcon Heavy launch gave him more confidence in that project.
Spacex: General Characteristics and Perspectives
SpaceX is a company that focuses on rockets and space equipment. Their main goal is to launch humans into outer space and make other planets habitable for humans. The company was founded on May 6, 2002. The CEO is Elon Musk he created the company when he sold a company called “zip2” it was a company that provided maps and directions to online newspapers. In 2002 is when “HP” bought the company for 22 million dollars. So not soon after is when Elon Musk set out to create “SpaceX “.
SpaceX has a lot of property out there but they own a headquarters building in Hawthorne California. They mainly design rockets and space crafts. They have 3 vehicles and over 100 contracted launches. They have over 10 facilities in the United States of America. They have an estimated 6,000+ employees. Five of the facilities are SpaceX offices, and three other facilities are launch facilities, one is a development facility and the last one is a headquarters.
As of May 30, 2018, SpaceX’s launch services has been the only source of revenue for the company. They have earned 2 billion in 2018. But in 2019 the company could be worth an estimated 32 billion dollars. SpaceX’s focused demographics are on companies that need satellites and companies that send rockets to other planets. SpaceX also makes focuses on rockets that allow humans to travel and live in space.
SpaceX has no slogan but they do have a company logo. SpaceX has three vehicles and they are called the Falcon 9, Falcon Heavy, and the dragon. SpaceX made history in 2012 when the rocket called “the dragon” was the first to deliver cargo and an international space station ever. SpaceX gets 62 million dollars every time the Falcon 9 is launched and 90 million when the Falcon Heavy is launched. The company gained a lot of fame when they launched a car into outer space. Elon Musk also has another company called “Tesla”. Elon Musk owns 54% of SpaceX’s stock and he has voting control over 78% of outstanding shares.
He recently had a lot of controversy because of him smoking marijuana on a podcast with Dana White the president of the “UFC”. It cost him a lot it made his stock go down by billions of dollars because of it. Two executives from his other company “Tesla” jumped ship. On September 17, 2018, SpaceX announced that a man called Yusaku Maezawa a famous art creator will be the world’s first passenger to fly around the moon in 2023. They are focusing on a mission to Mars.
SpaceX has many projects but the main goal for them is to complete a mission to Mars. SpaceX has also helped “NASA”. The company has faced many hardships like creating rockets that work because not all of them work the first time so they have to start from the ground up and fix the issues. Another problem is funding for their projects because it is expensive to create a rocket and new technology and development.
SpaceX had changed the game when it comes to anything about space. When someone hears SpaceX they think most cutting edge technology and best in the business. They have also sent humans to earth’s orbit in a privately manufactured rocketship. The company has also gained international recognition for their achievements. They also have created space suits for people when they achieve their goal and allow them to enter space.
The average employee that works at SpaceX makes about 62,777 to 119,270 thousand dollars a year. That’s the average employee but if they are a COO they can make 270,134 dollars a year. That is a lot of money for a person to be making. A few months ago SpaceX did a launch that created an object in the sky and people thought the end of the world was happening but they had launched an object into outer space that left an image.
The reason for Elon Musk creating SpaceX was him noticing that there were no new developments in space travel. This was after he had just cashed in in his other company’s. He got the idea to send mice to mars and he took a trip to Russia to go and purchase a rocket and he noticed that they were overpriced for each rocket and he left while he was on an airplane back home he realized that he can make them and make them less cost-effective so he borrowed spaceship books and created the company with his friends and started hiring employees.
The Leadership Styles Used by Elon Reeve Musk & Bill Gates in Difficult Situations
The aim of this article is to summarize the research on two different entrepreneurs with brief biographies. Moreover, the leadership styles used by them in some difficult situation to get success will also be discussed. The two leaders are bill gates and Elon Musk. The reason why I choose these two entrepreneurs is that one of them focuses on specific field and the other show his leadership skills in different businesses such as from digital payment system to space travel and further to electric cars. The first leader I am going to discuss is Bill Gates, Co-founder and technology advisor of Microsoft Corporation.
Bill Gates (William Henry Gates III), Born on October 28, 1955 has three siblings. His father was a lawyer and mother was a teacher. Gates took admission at Harvard University as a Law student but Dropped out the college after two years and then started Microsoft business with his partner Paul Allen. He married at the age of 32 with Melinda French, who was production manager at Microsoft. They have two daughters and a son.
The second entrepreneur, which I am going to discuss, is Elon Musk. Elon Reeve Musk born on June 28, 1971 in South Africa and came to America at age 17 with his mother Maye Musk, a model and dietician and his father Errol Musk was engineer. He graduated at university of Pennsylvania in physics and economics. He is the CEO and co-founder of SpaceX, Tesla and PayPal. Married life of Elon Musk is very controversial, first wife Justine Wilson and Musk separated out in 2008 and then he started dating English Actress, married, and ended after four years. He has five sons with his first wife and both share custody of kids.
Leadership style is the most pivotal thing to run an organization. So here, I am going to shed a light on the leadership styles of the above-mentioned leaders. Elon Musk follows transformational leadership, the style in which a vision is created, and work is done on the field where a change needs to be done along with his team members in his business life. It includes four tactics: Vision: he showed this strategy by replacing fossil fuels by green energy and discovering space on Mars. His vision is humble, attract the users, producing energy and comes in immensely handy for the people. These challenges are impossible for the people, but he has achieved these goals because of the clear image.
Second, Social Architect: the important thing for a team to keep going is motivation. Musk use the principle of keep going in life, he motivates his team by using a quote: never give up on your work and never means never. His third strategy is Trust: achieving the trust of the supporters is the biggest achievement for a leader and Elon Musk proved this when Tesla was suffering from loss by funding more than 90 million dollars from his own capital on electric cars. Last method of transformational leadership is Creative development of self: it means knowing your ability and giving emphases on strengths rather than weaknesses.
Musk never put the burden on his team. He always worked along with his team whether it was funding or his hard work in fitting the electric motor into smart car. He believes in moral ethics and values. Due to these styles, he is able to manage the big businesses and these styles distinguishes him from other entrepreneurs. On the other hand, the leadership style used by Bill Gates is autocratic, as he is good enough in taking the best decisions for his company, hires the genius people to work in his organisation and he don’t like to listen the complaints. Moreover, he gains the trust by involving his employees in the challenging situations and by showing that their decision also matters for him.
During the start of Microsoft, he was transactional: he poorly treats the bad work and honors the good. Afterwards he become transformational by motivating his employees and by giving a clear vision to his team about the software world. Apart from this, he was Delegate: he represents himself everywhere due to his great technical skills but later he started giving powers and rights of taking decisions to the managers. Other style is Task-Oriented: bill is very particular about the work. He keeps the check on the performance of his followers. Bill Gates is having the entrepreneurial skills, and this is the biggest reason for the victory of the Microsoft.
Important lessons leaders can learn from Bill Gates and Elon Musk
The top leaders are always role model for beginners and every new entrepreneur wants to make himself like them. Bill Gates’s leadership skills and his commitment and self- motivation towards his business creates a roadmap for others. Therefore, here are some leadership lessons that can be implemented to any business to get success. Primarily is to be vision oriented and valuing the time that means we have clear idea that what we are going to do and what is our aim. This can only achieve if we value time because we can never buy time at any cost. This applies in not only the business but other aspects of life too. Bill Gates just passed over his competitors because he always thinks bigger and then just push himself to reach that pinnacle.
Second thing is to be not distracted by the success and always be caring for teammates or juniors. Success always to be meant that there are so many others benchmark to reach and for that we need to stay on ground and to get further success by keep moving like before and be caring for people always helps you to be a best human than a good leader. Bill Gates proved this by funded many programs for human well being all over the world. Moreover, always believes in yourself and thinks you can do more and better.
Example of bill Gates leadership style
No doubt in today day and age Bill Gates is a top tech entrepreneur but besides that, he is a good human too. Therefore, humanitarian skills of Bill Gates’s always be a best example of his leadership style. He and his wife Melinda French founded a private foundation in 2000 and their prime goals are to reduce global poverty and to increase healthcare. Bill Gates left full time job and started part time job at Microsoft and now he is devoting his most of the time to their Foundation. This inspires us a lot that a leader should think out of box and there are so many other things to do other than making money. Finally, yet importantly, he is now working with different organizations to eliminate Polio and Malaria.
Example of Elon Musk leadership style
There are many things to learn from Elon Musk journey from a ZIP2 software seller to Tesla Car Company. To start with, the first lesson is always to be criticism seeker. This helps us to know about our self in a different way because we always think we are best, and we are doing best but critics provides us opportunity to do things in better way. Furthermore, always think out of box and never put making money on the top. It is important to think different and see the world with powerful vision because good ideas can arise from anywhere, anyone. This helps a leader to stay on the top and in the heart of other people. Moreover, the success of the project is because how deep we know about that field and this is clearly proved by Elon Musk at the teenage by making a software with the help of readings from books and now again by reducing car battery cost to a remarkable price.
Finally, yet importantly, always prepare for failure and therefore come up with a backup plan.ConclusionIn nutshell, we can learn many things from the above-mentioned leaders. From Bill Gates we can learn the skills that we need in technical field and how we can motivate our team to work in an effective way. In this way, we can give the new technology to the world. On the other hand, a person who have interest in various fields can learn the leadership skills of Elon Musk. He is the best role model for the person who have the clear vision in multifarious fields. There hard work and dedication is the reason of their success.
Gates and Musk have one similarity in them i.e., their transformational style of leading an organisation. They both take their team along with them. Therefore, corporation and teamwork are the two key principles for the success of any work place. Considering the views of the other person increases the more options and this led to the fruitful results. Moreover, having patience and constantly work with full dedication always pay the best results. We should always keep one thing in mind that nothing is impossible if we try.
Trust in Musk: the Factors of Trust in Autonomous Technology
Commonly seen in online advertisements and owned by numerous YouTube influencers such as Casey Neistat, David Dobrik, Jake Paul, and many more, Tesla’s Model S and Model X have been seen to be driving by itself with little to no intervention by the user. This paper mainly focuses on Tesla’s autonomous technology because Tesla is the most prominent car brand which releases these types of cars and has been a leading developer of this type of technology. These models created by Tesla are what we now consider as semi-autonomous vehicles. Originally founded by Martin Eberhard and Marc Tarpenning and named after famous inventor, Nikola Tesla, this brand has been a lead manufacturer of fully electric cars since 2008. Subsequent research, development, and manufacturing were funded by Elon Musk, its current chairman. This research and development then lead to its 2 current models of semi-autonomous vehicles, the aforementioned Model S and Model X.
The two aforementioned models are equipped with Tesla’s Autopilot, which comes with a series of sensors and cameras that work together and feed data to a processor which interprets the data and transforms them into commands needed by the car to essentially drive by itself. Tesla’s 2018 website states that its semi-autonomous models have: Eight surround cameras which provide 360 degrees of visibility around the car at up to 250 meters of range. Twelve updated ultrasonic sensors complement this vision, allowing for detection of both hard and soft objects at nearly twice the distance of the prior system. A forward-facing radar with enhanced processing provides additional data about the world on a redundant wavelength that is able to see through heavy rain, fog, dust and even the car ahead. This collection of cameras and sensors work in unison along with developed software in order to indicate all road conditions when driving in the freeway, which are able to adjust to the current conditions and adjust the car’s speed and position with respect to all the cars around the user. This means that the car uses the road signs, lane lines, and distances from other cars in order to provide a safe Autopilot experience. Tesla’s Model X and Model S come equipped with a 70-100 Kilowatt Hour battery, which last up to 500, 000 miles of driving, and have proven to be reliable enough to have reputable sales in the worldwide automotive market. Tesla’s Model X and Model S have taken the second and third spot in the top selling electric cars of 2017 only coming second to its older version, the Tesla Model 3 which is not equipped with Tesla’s Autopilot technology as of the moment. Tesla claims that these two models will soon be capable of conducting “short and long distance trips with no action required by the person in the driver’s seat”.
Self-driving capability in this sense means that the car is capable of automation and can make predesigned trips without the driver’s intervention. Although similar to self-driving technology, Tesla’s current autonomous technology which they call Tesla Autopilot is still not a fully self-driving experience. The company claims that its cars can match traffic speeds, stay within and change lanes, self-park, and be “summoned to and from your garage”. Despite its autonomous features, Tesla still asks every driver to be responsible, remain alert, and be ready to take over anytime when using Autopilot. However, current fully self-driving cars are in development and Tesla claims that some of the software updates that they are currently working on will allow the Model X and Model S to be fully self-driving soon. Current Chairman, Elon Musk believes that these cars are at least four times safer than human driven-cars. This statement is a proof of Musk’s confidence in his company’s technology. As a consequence, the aforementioned boom in sales can mainly be due to the chairman’s confidence in his work. People trust a creator confident in his work. This very confidence coupled with claims is enough to persuade people into trusting a person. This aforementioned reputable number of sales with the top 2 and 3 spots, taken by their two Autopilot enabled cars, are a proof of how society is slowly opening up to semi-autonomous technology. It shows society’s growing trust in autonomous technology. Although semi-autonomous vehicles are fairly new to society, semi-autonomous technology has already been seen around daily life and is used by many. An example is seen through the use of the Tinder dating app and the likes. These use certain algorithms and collected data on location, interest, ages, in order to autonomously match a user with another.
Another proof of trust in autonomous technology is how biometric scanning has crept its way into mobile phones, something most people own and use regularly nowadays. Face recognition and biometric software make use of unique patterns which they then transform into binary data and then store the data for future reference when the software requires it; this data is then fetched and matched when one has to log-on providing high security. Seen in these technologies -which society uses almost on a daily basis- is the trust society has developed through repeated use. One can see the trend of the leveling up of trust society has in technology, more particularly autonomous technology. The creators of these forms of autonomous technology rely on the trust of its users in order for the technology to sell and vastly be used. Evident then, in the case of Tinder, is the entrustment of relationships, while the entrustment of security is seen in biometric technology.
Now, with the success of these Tesla Models, comes a new entrustment. Society is now slowly entrusting transportation, the way they go about their daily lives, to technology through these vehicles by Tesla. According to a research done by Burns & Dikmen in 2016 on the Tesla Autopilot, users were pleased with what their cars were capable of and are confident in its safety. The researchers also found out that people who weren’t owners of the models viewed it to be “somewhat risky” while those who own the models and have experienced its technology rated the risk factor from “not at all risky” to “not too risky”. The same research also points out that common problems encountered by the users involved autonomous lane changing and autonomous changing of speeds. Three factors were believed to contribute to the low risk ratings and high trust of Tesla Model X and Model S owners despite of the said malfunctions: users know the technology and accept faults in its technology, and little to no malfunctions led to a negative outcome. Burns & Dikmen also discussed how Tesla users understand the technology and know how it works. Through knowing this technology well and by being fond of what Tesla is offering, the users accept the faults and trust the direction technology Tesla presents them with. These Tesla owners who know how this technology works also know its imperfections and are ready to take over any time they feel that the autopilot is not functioning properly. While not a perfectly autonomous vehicular feature, Tesla’s Autopilot is a step closer to a fully self-driving car. Technology is still evolving. Aiding this is the confidence people have in it and the trust it needs for success and usefulness. Despite this trust, society must still keep in mind that they are responsible for whatever happens to them and that this type of technology is just made in order to aid their life. While society’s trust certainly has leveled up and technology has grown greatly, people must still keep in mind that these machines are not faultless. This trust must come with boundaries.
The trust in Tesla’s Autopilot must come with knowledge of the technology and the ability to know when to take over. Tesla’s Autopilot still has a long way to go and develop along with other self-driving technology. What society does with this trust and the limitations they consider when trusting these autonomous machines are up to them. One must just remember that these technologies are flawed and educate themselves before trusting autonomous technology with their lives.
Factors of Elon Musk’s Entrepreneurship Success
According to a recent study, almost 75% of all startups fail overall and the largest contributing factor to their downfall is lack of capital and desperate market need. It is therefore hard to imagine that anyone today can become a successful entrepreneur given the small probability of success. Despite this, the media will constantly show many successful entrepreneurs who defied such odds and one such example is Elon Musk. The South African born entrepreneur has been in the entrepreneurial business for over 20 years and he is no exception when it comes to creating successful startups. The entrepreneur launched nine startups and sold two of them, Zip2 and X.com in 1999 and 2002 respectively. Elon Musk is a therefore a serial entrepreneur as his intention was to sell several startups so that future ones like SpaceX and Tesla could exist. Today, the entrepreneur’s interests are predominately in the automobile/transportation and aerospace industries which he wants to significantly change. His dream is to reduce global warming and the budgets required for space exploration. This ultimately was the direct motivation behind SpaceX and Tesla, two of his most successful companies. His largest accomplishment was indeed SpaceX since it was the first privately funded company to launch a rocket into space and its budget was 11 times less than any of NASA’s previous missions.
The other focus of the Elon Musk’s career was Tesla which is meant to revolutionize electric transportation and be the primary system to get around. This would fundamentally change modern day transportation and therefore have a creative destruction in the industry, but the outcome will greatly reduce pollution in the atmosphere. In general, Elon Musk’s entrepreneurialism is centered around changing the world and the betterment of mankind. Both SpaceX and Tesla are his two business opportunities that will be focused on. When we speak about modern day entrepreneurs we don’t witness many inventor entrepreneurs like Elon Musk. His earlier startup, SpaceX, demonstrates the entrepreneur’s innovation in terms of how he sets to make space exploration easier. The pressing issue for him “is the cost of access to space” which has been preventing humans from making frequent trips to space. The entrepreneur achieved this by seeking rocket engineers to build an orbital rocket that is capable of landing on the ground and be reused again in future missions. As a result, this will heavily impact the industry as rockets become more affordable cutting the cost “ultimately by a factor of ten”.
The company launched their first successful propulsive landing rocket Flacon 9 in 2015 and reused it two years later. This certainly is an incredible accomplishment as he achieved his dream but also because he didn’t give up after being told repeatedly that SpaceX will fail. This shows that his determination kept him pursuing despite the claims told by analysts from the aftermath of the Columbia disaster. In addition, the success of the Falcon 9 launch increased public interest in space exploration which was lacking in the industry for some time. The company thereafter launched Falcon heavy that had a much higher payload capacity and is aiming to reach far into space. Though it is without a doubt that the entrepreneur had to overcome many adversities to achieve this dream. The biggest one was the failed launch of a previous iteration of Flacon 9. According to a report by the company, one of the steel pieces broke off under the pressure when the rocket was accelerating causing an explosion in flight. This sent the company back since production was paused and the entrepreneur lost support from several investors. However, this didn’t stop Musk as he took ownership to solve the problem by investing necessary resources such as hiring senior level engineers and increased investments to fund better technology. He also shifted the company’s focus more on improving the infrastructure and durability of steel for the subsequent Flacon 9 rockets. SpaceX largest competitors are Blue Origin and Virgin Galactic. It is however not a huge setback for the company since SpaceX owns approximately 65% of the market share.
SpaceX is also the first to land a rocket on ocean platform, first private company to send satellite to orbit and first to reuse its rocket making it the current leader in innovation. It is for this reason that SpaceX demonstrates some of the entrepreneur’s new innovations and the achievement of reusing space rockets that so few have accomplished. Elon Musk also pursued other opportunities such as going into the automobile industry. Elon Musk saw the opportunity in electric vehicles because it was customer centric, helping people reduce pollution and go green. It was also a good opportunity because he already had access to needed resources such as previous employees from SpaceX and necessary funding from trusted investors. At the company, Elon Musk focused on the affordability of Tesla cars and their performance. The main selling point for him was that his electric cars can achieve just as much as standard vehicles yet have a positive impact on the environment. Some of the new technology behind Tesla cars are the powerful lithium-ion batteries that require no fuel to work. Newer Tesla cars also have autopilot which is the drive assistance technology that allows for cruise control, emergency brakes, auto parking, and sensors to warn nearby vehicles. The company released the Model S in 2012 and Model X in 2015 which was a small SUV. In addition, the Model 3 was a third-generation car released in 2016 that could drive 500 km on a single charge.
The fundamental connection between Elon Musk’s entrepreneurship and his business opportunities is the desire to reduce global warming and have cheaper accessibility to space. I believe that the key learning here is that your motivations should drive your entrepreneurial career as opposed to money. In addition, I believe that the certain strategies of the entrepreneur were effective but not always realistic. For example, it was effective for Elon Musk to sell Zip2 and X.com because they were profitable, however, it does not guarantee success to subsequent startups. There are factors other than profitability that are important such as market need and competition. I also believe that being an innovator in entrepreneurism is important but not the only means to success. Ultimately, I believe that a successful entrepreneur is someone who isn’t afraid to take risks for a larger outcome in what they desire.