How Elon Musk Succeeded With Tesla and SpaceX Despite All Odds
Elon Musk succeeded with Tesla and SpaceX despite the early prediction that he will fail, tweeting, "I thought there was a 90% chance that both SpaceX & Tesla would be worth $0."
If you look at the entire effort of Elon Musk, “it took an utterly insane amount of work to move the SpaceX & Tesla success probabilities above ~zero,” Musk tweeted. “I thought our chances of success were so low that I didn’t want to risk anyone’s funds in the beginning but my own,” Musk earlier noted in his “Master Plan, Part Deux,” which he posted on the Tesla blog back in 2016, reports CNBC.
Musk reportedly invested about $200 million off the $1.5 billion sale of PayPal to eBay in 2002, used about $100 million to start SpaceX in 2002 and invested $6.3 million in Tesla in 2004.
“I thought our chances of success were so low that I didn’t want to risk anyone’s funds in the beginning but my own,” Musk said of Tesla in his “Master Plan, Part Deux,” which he posted on the Tesla blog in 2016.
As for SpaceX, everyone “said I would … lose all the money from PayPal, I was, like, ‘Well, you are probably right,’” Musk recalled at a NASA press conference in 2019. But it “was worth trying anyway,” he said.
So what does the future hold for Elon Musk? Evannex reports that "the end of Front's animated story forecasts a future where Musk finally reaches Mars. He's exploring the red planet when, suddenly, the original Roadster (along with Starman) falls from the sky — an entertaining twist to an already-epic tale."
Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded TorqueNews.com in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.