2008-11-11

Elon Musk: Traits of a successful entrepreneur

Elon Musk is a rock star. PayPal, Tesla Motors, rockets and solar power.

How does he do it?

Watch this video. If you like, skip to 5:50.

Critical thought:
People do not think critically enough. They assume too many things to be true without sufficient basis in that belief...Analyze things from first principals.
Way to promote rational thought.

Risk:
People tend to overweigh risk on a personal level...Let's say you're young and you're coming out of college or high school...what do you risk?...What are you afraid of? People should be less risk averse when there's not much at risk.
Brilliant.

1 comment:

Steve J Rodgers said...

Hey Kevin - Have you read the Paul Graham essays? http://www.paulgraham.com/articles.html?

Here's an extract from http://www.paulgraham.com/mit.html
"Your second advantage, poverty, might not sound like an advantage, but it is a huge one. Poverty implies you can live cheaply, and this is critically important for startups. Nearly every startup that fails, fails by running out of money. It's a little misleading to put it this way, because there's usually some other underlying cause. But regardless of the source of your problems, a low burn rate gives you more opportunity to recover from them. And since most startups make all kinds of mistakes at first, room to recover from mistakes is a valuable thing to have."

If you have not read all the essays and you want to do startups then I highly recommend them!

Steve