Failure is an option – Elon Musk

Elon Musk count as the world’s most powerful people. He is a South African-born American entrepreneur. Recently Elon Musk becomes the world’s richest person in 2021 with a $188 billion net worth. 

So today we are going to talk about his life. 

In his childhood he doesn’t have many more friends to talk to, so he makes books as best friends and started reading. 

His brother says that he read books for almost 15 hrs. daily. 

He read many books in his childhood that have never been read by any graduate. 

In his childhood, he got one book with his computer and without wasting time within 3 days he just finished this book and learn about programming and start practicing. 

At the age of 12 years, he builds his first game and sold this game for $500 to an online video game company. 

Zip2 Company

After some time, by taking some money from his father and some from investors, Elon and his brother Kimbal launched a software company in 1995 called Zip2

But at that time he was too young and he didn’t have that much experience. So the board of directors removes him from the CEO position. 

After that board of directors sold this company to Compact, and from that, he got $22 million. He used this money in future projects. 

PayPal Company

One day he notices that people need to wait more time outside the bank for online money transactions. So, he got an idea that why should not make this easy. 

Then he started another company which is an online transaction company. 

After that merge with Confinity and become PayPal. We all know how PayPal is famous today. 

In 2002 eBay buy PayPal with $1.5 billion in which Elon Musk has the highest percentage that is 11.7%. Overall, he got $165 million

At that time, all the stakeholders from the PayPal Mafia started their own companies like youtube, Linked In, Tesla, SpaceX, Slide, etc. 

SpaceX Company

Now Elon has to complete his dream about Space Travel. He started another company SpaceX, for that he went to Russia, where the price has very high i.e $8 million

He negotiates this price but he got rejection. 

So, he came back and started thinking about why should not I made the rocket by own. But he had not done any formal education in rocket science. 

He started learning from books and the internet. He works 7 days without any leave and he gave his 15 hrs. daily, and then finally he made the rocket. 

But after his first launch, the engine caught fire. The second-and third-time rocket went off-route

And within these 3 trials, he loses almost all the money and the money that he got from the NASA contract and also from the funding agencies. 

After so many failures and rejections, how can normal people think about one more try? 

But he is a really crazy man. He announced that within few months he launched the 4th rocket. Till that time, no one had done this before. 

He had a huge risk appetite. He risked everything, sell his house and take a room for rent. 

And within his 4th try, he made successfully a reusable rocket

After that, he signed a $1.5 billion deal with Nasa

He has a really great thought process. He always says, 

Failure is an option

Tesla Motor Company

Within some days he invested his money into Tesla Motor which works on sustainable energy consumption

Then he started making electric vehicles. But at first, time cost becomes almost double than its actual cost

So due to the high price he faces more problems to sell them. 

The second-time price goes a little bit down and in the third attempt, he made the car with his actual reasonable cost. And they sold many cars after that. 

Also, India is rooting for electric vehicles. 

Not only tesla, but he also has many more companies like –

1. The boring company – To decrease the traffic, this company making world-class tunnels. 

2. Hyperloop one –It is used for ground transportation, through which we can cover 700mile distance within 1 hr. 

3. Neuralink – It is making brain-machine for paralyzed people through which they can work like normal people. 

4. openAI – This company is working on Artificial Intelligence. 

5. Starlink – This is the project through which they can send 12,000 satellites into space, and these satellites make chains in the orbit-like star shape, and through this star link they can provide the internet all over the world. 

Elon Musk is a futuristic person. 

This type of people born 2 or 3 within 100 years. He says that- 

I don’t expect to do what is possible, I want to do what is needed to be done. 

He really fails many times in his life. But he always said that “Failure is an option”. 

We can learn many things from his biography. There are many things that are mention in his book. 

You can listen to his book Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future from amazon Audible

I hope you like this biography. What you like about Elon Musk and on which person do you want the next biography. 

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