The Power of Extreme Persistence: Lessons from Elon Musk’s Near-Bankruptcies
Here is a definition for the word Tenacious:
Adjective Not readily relinquishing a position, principle, or course of action; determined.
The determination to keep going when the going gets tough is what saved SpaceX and Tesla when both were on the verge of bankruptcy.
Elon poured all of his money from the sale of PayPal into these companies so they could survive and his tenacity in doing so saved them from insolvency.
The perseverance and hard work Elon has shown in making every company he has worked with a success reminds me of this quote from Steve Jobs:
I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.
Elon met Steve Jobs once and said Steve was a jerk to him after Google co-founder Larry Page introduced him…but nonetheless Elon has praised Steve and uses Apple products like the iPhone (in combination with PC’s) to this day.
Despite the snubbing from Steve Jobs Elon seems to respect him for his tenacity and craftsmanship. Elon shared this video below where Jobs shares a Rock Tumbler metaphor. I recommend you check it out:
Then the profits from step 1 & 2 go towards step 3:
Low priced, high volume car for the masses
It seems to me that this is a solid strategy for someone who is considering starting a coaching, consulting, and or membership site business as well.
By serving the most financially affluent first you can help your business create the financial stability and foundation needed to grow.
Once you have established the initial inertia of ongoing income for your business you can afford yourself room to hire and experiment more so you can instigate more innovation.
From Awesome Rockets to AI Robots: Get Excited for the Future!
“Earth is the cradle of humanity. You cannot stay in the cradle forever…
It is time to go out there…be out there among the stars, expand the scope and scale of human consciousness…
I find that incredibly exciting!
That makes me glad to be alive!”
~Elon Musk
Being excited about your work will help you create exciting results.
“We live in a very exciting time. If you look at the whole course of human history and humanity this is the time of the greatest technological growth in history…and it seems to be accelerating.” (Tech week 2021)
So don’t settle for an unexciting career: Strive for an excellent future.
Your expectations and efforts today will determine your outcomes tomorrow.
Rocket launches are one exciting element of our fast coming future.
The rate of rockets launched is increasing year over year, as are the exciting technology they enable. Starlink satellite Internet has opened up access to the Internet to millions of people who did not have it before.
Undoubtedly the new entrants to the online ecosystem will create exciting new innovations in the Ai and other fields as well.
At Italian TechWeek Elon shared his thought on the exciting time we live in:
“We live in a very exciting time.
I mean if you look at the whole history of the world, humanity, this is a time of the greatest technological growth in history.
And it seems to be accelerating.”
So true. We live in the most powerful and exciting time of all time.
Not many people saw Google coming, or Facebook, or the vast majority of the information from history being available at your fingertips on a super computer you keep in your pocket…
But it all happened and more.
Technological innovations depend on the people who use technology and the Internet…and there are more people with technology and Internet access than ever before.
As of January 2023, there were 5.16 billion internet users worldwide, which is 64.4 percent of the global population. And that number continues to increase until it inevitably hits 100% and we are all officially cyborgs.
“You’re already a cyborg. Most people don’t realize you’re already a cyborg.”
~Elon Musk‘
The image above of Elon and the Starship was created by Grok Imagine.
Elon’s company Starlink is making high speed Internet available to many parts of the world that did not have any Internet at all before.
Due to the fact of a larger Internet user base than ever unpredictably awesome innovations will undoubtedly happen in the future also, likely at a faster rate than we are used to.
Elon is making those awesome innovations a reality faster than anyone else alive.
It pays to pay attention to Elon because the future is where you’ll be spending the rest of your life.
Get excited about the future!
Who knows what AI will make possible?
Since AI can leverage trillions of pieces of information simultaneously the one certainty is it will not disappoint.
The Humanoid Robot Future Will Create Abundance
“The robot future is coming” Elon says.
What will robots be able to do in the future?
They will drive for us, cook for us (whatever we want made perfectly like a 3 Star Michelin chef every time), cut and style our hair flawlessly, mow our lawn automatically, and do most manual labor tasks that cause humans to dread their jobs.
And that’s just the beginning…
Robots and technology are literally out of this world.
Recently SpaceX launched the largest flying object of all time…
It was initially called BFR (Big FUCKING Rocket) then renamed to Starship…
And Starships were meant to fly.
Largest Flying Object of All Time
Indeed Starship did fly…
On 4/20, 2023…
Then it exploded in mid air.
But unlike its unrelated Soviet predecessor the N1 it was not the largest non-atomic explosion of all time…likely because Starship used a good amount of it’s fuel achieving 25 miles of flight.
But if it were not for the first unsuccessful Falcon rocket launches would SpaceX be what it is today?
Certainly not.
Pain can be powerful…
No pain no gain.
Elon says he still has PTSD from the early failed SpaceX launches.
But the trauma he and the SpaceX team suffered helped them take the necessary actions to ensure the rocket improved and achieved orbit.
The future will rip apart the world as we know it like the rocket pieces above…
But the changes that might seem difficult at first will transform into a fantastic future over time…
A future where people are far safer in cars, freed from tedious tasks, can vacation in Space, and even live on the Moon or Mars.
Successful Starship Test Flights
Since then there have been successful flights including the first phase booster being caught by arms from the Mechazilla launch platform.
Starship is the first launching system capable of making life multiplanetary and will take 100 people to Mars per trip.
Starship has had numerous multiple successful flights since its initial explosion and has a Mars mission on the way in 2026.
Get excited about the future!
It’s coming fast.
Work on projects that harness the amazing power of technology.
Don’t blindly cling to the past.
The ability to adapt and upgrade your skills with the changing times will empower you.
Test drive a Tesla.
Make the most of today but live like you’ll live forever…because thanks to the power of AI maybe you will.
Or maybe AI will destroy us all. Elon has said developing AI is like summoning the Devil.
Optimus Robots and Ai Will Make Everyone Wealthy
Elon has said the humanoid robot business is bigger than the car business.
“The most likely outcome is that AI and robots make everyone wealthy.” are his specific words in this recent tweet.
And if you think about it human labour costs are more than vehicle costs so this makes sense.
Elon and Making Artificial Intelligence Actual
Elon founded the company OpenAi as well as xAi and Grok.
I recommend following me for the latest updates about how Ai and the many ways Elon and his companies are our world and the future.
Get All My Amazing Elon Musk Info in One Place
Best way to get ready for a more fantastic future with amazing abundance is to buy a copy of Elonology!
The best price is via this website. Only $9.99 USD to reveal the best secrets for success from the wealthiest man of all time, Elon Musk.
Speed, Engineering and Passion are the three key areas former Tesla Supercharger UX employee Michael Rihani suggests were key to Tesla’s success, which empowered the company to rapidly iterate innovations and evolve.
The best insights from his tweet storm after leaving Tesla he said:
1. Speed
Tesla’s #1 differentiated advantage is its incredible speed. Plaid mode, for sure. The speed is uncomfortable at first, but employees quickly get comfortable with it.
2. Engineering
Tesla is the #1 place undergraduate engineering students want to work. Why?
Because we stand around a circle table, throw a difficult engineering problem on that table, and everyone — from the SVP, to product, to engineers, to interns — look at that problem, rollup up their sleeves, and immediately dive into solving it, together.
No hesitation. No politics. Tesla is one of the most collaborative places I’ve ever seen.
Furthermore, Tesla has some of the nicest and smartest engineers he says he’s ever worked with.
3. Passion
It doesn’t feel like work when you’re surrounded by stunning colleagues who are aligned to a north star mission – like accelerating the world’s transition to sustainable energy.
Speed, Engineering and Passion: Apply them to the culture of your company for a positive outcome.everyone — from the SVP, to product, to engineers, to interns — look at that problem, rollup up their sleeves, and immediately dive into solving it, together.
No hesitation. No politics. Tesla is one of the most collaborative places I’ve ever seen.
Furthermore, Tesla has some of the nicest and smartest engineers he says he’s ever worked with.
3. Passion
It doesn’t feel like work when you’re surrounded by stunning colleagues who are aligned to a north star mission – like accelerating the world’s transition to sustainable energy.
Speed, Engineering and Passion:
Apply them to the culture of your company for a positive outcome.
When he was a kid his brother Kimbal would tell him the actual time was ahead of time so Elon would make it to the bus on time for school.
These days Elon claims to still have a problem with punctuality but people are definitely willing to wait.
Waiting builds anticipation…
The Tesla Plaid event was one of many great examples of this. Rather than launching exactly on time the June 2021 event was scheduled for…
It started 21 minutes late.
The Tesla 2021 Q2 earning call (which blew everyone away with Tesla netting over a billion in profit) started a few minutes late as well.
The reason for these delays I believe is a strategic one.
Elon has said “Timing is everything” in the past and he certainly is not ignorant of the importance of time.
A smart sales strategy is to spend as much time with your prospect as possible.
Long form webinars often have a superior conversion rate to short webinars for high priced products, for example.
This is because people value their time and when more time is invested there is more pressure for people to take action so they can realize a positive ROI for their time spent.
Another example of this is the “sideways sales letter” product launch formula pioneered by Jeff Walker.
This formula has produced over a billion in launches and leverages anticipation built by a series of videos over a week or so launch sequence to maximize profit on launch day.
Make people wait and – so long as you don’t piss them off and make them leave – you get more power in the situation.
Anticipation amplifies enjoyment when the product/service waited for finally comes through.
How Musk’s Timing Works
Timeboxing/Time-Blocking: He divides his day into tiny, fixed blocks (often 5 minutes) for specific tasks (engineering, emails, family).
Task Batching: Grouping similar tasks together to handle them efficiently.
Prioritization: Focusing on core engineering and manufacturing problems, spending most time there.
Eliminating Decisions: Pre-planning prevents wasting time deciding what to do next.
The Core Philosophy
Work Expands to Fill Time: He uses strict blocks to prevent tasks from taking longer than they should (Parkinson’s Law).
Feedback Loops: He constantly refines his schedule using feedback to improve efficiency.
“We should all be concerned about the future because we will have to spend the rest of our lives there.” ~Charles F. Kettering
When Elon became the world’s wealthiest man he had already been the world’s most powerful man for some time…
This is because Elon is optimizing for his missions and not simply trying to rack up his net worth as much as possible. If maximum net worth was the goal SpaceX would likely be a publicly traded company, rather than privately owned.
Elon owns the majority of SpaceX (54% with 78% voting control) and since he does not have to answer to investors he has more time and energy available to roll out new innovations faster.
Interestingly this is what Ashlee Vance (Author of the bestselling biography of Elon) said when Elon became the world’s richest man officially:
“When I set out to write a bio on @elonmusk, he was worth a paltry few billion. Did not really think I’d end up writing about the richest person in the world because his companies were so risky.
How many people in a similar position would take a personal fortune of $200 million and bet it all on solar, electric cars and rockets in 2001?”
Tesla and SpaceX surviving the 2008 financial crash by the skin of their teeth and rising to dominate two of the most competitive industries in the world is undoubtedly one of the best business stories of all time.
Elon has attributed his engineering mind due to the genetics and upbringing he obtained from his father. Elon’s father is an Engineer also and Elon has explained how he grew up around an engineering environment.
Elon’s success does not surprise me, because Elon is a brilliant human being.
What others perceive as ultra risky do not understand the depths of Elon’s intelligence, his fierce work ethic, and his ability to get the job done better than anyone.
Elon is looking towards the future and planning with Tesla and Optimus humanoid robots and energy products to usher in amazing abundance for all.
Master Plan IV video explains in 1 minute 23 seconds.
As Elon plans a Starlink IPO his wealth is tracking towards a trillion USD and beyond.
If Tesla focused on quantity of investors over quality they might not be in business today.
The concept of quality is so important to the success of a business, especially in the early phases…
And quality over quantity extends to every element of the business, including the venture capitalists and investors it works with.
In a PandoMonthly interview Elon elaborates:
“If you have a choice of a lower valuation with someone you really like or a higher valuation with someone you have a question mark about, take the lower valuation.
It’s better to have a higher quality venture capitalist who you think would be great to work with than to get a higher valuation with someone where there’s even a question mark, really.”
Quality matters.
Strive for quality people as investors and in all aspects of your life and your odds of living a quality life increase.
Astra Nova is latin for Bright Star and is the name of the school Elon created for his children, and for the children of some of the engineers he works with.
Initially the school was named Ad Astra, which means to the stars.
Elon has some great ideas about how children should learn, which has certainly influenced how his school is run. The first unique divergence from the norm is there are not any grades.
On a clubhouse audio conversation Marc Andreesen (Salesforce CEO) asked Elon: What kind of education would you recommend for a five year old?
Part of Elon’s reply was: “I think generally with education you want to make it as interesting and exciting as possible…
Unless relevance is established people will have a hard time remembering.
This is much better than having a course on wrenches or a course on screwdrivers.
Start with a problem and ask what tools do I need to solve this problem?
That establishes relevance and a compelling narrative thread.
Asking: How can we make this engine better, what do we need to do?”
The education is catered to the unique abilities of each student, rather than using a one size fits all approach. In a 2015 interview Elon explains:
“Some people love English or languages, some people love Math, some people love Music, and have different abilities at different times. It makes more sense to cater the education to match their aptitudes and abilities.
The Astra Nova website explains:
Each Year Anew: We redesign each year based on our students. We apply the lessons learned from every project, lab, and discussion to inform our next move.
Another important concept they touch on is the importance of creating…
A school children love: What if students were taken seriously and their time well spent? Astra Nova believes in meaningful student experiences across age levels and domains.
In an effort to make the style of education from Astra Nova more widely available a new company named Synthesis was started. Synthesis is a weekly, 1-hour enrichment program for students who want to learn how to build the future.
