Elon Musk : What can we learn from his life & advice

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What Can We Learn from Elon Musk and His Advice. A short 10 point Summary of advice and learnings from Elon for his success at Paypal, Tesla Motors, SpaceX and Solar City. This talks about his
1. Hard work 2. Critical Self Analysis 3 First principles thinking 4 Networking 5 Risk taking etc skills. DO read and share if you admire his work and want to inculcate some of his advice and skills.

Youtube Videos on Elon Musk:
Bloomberg Documentary: http://goo.gl/eBMbRe
Elon Musk at TED: http://goo.gl/KdALA9
Fireside chat with Elon Musk Pandodaily: http://goo.gl/pYtOfo
Future of Design, SpaceX http://goo.gl/PMWXmw
Musk keynote at SXSW http://goo.gl/GQZfId

Detailed Magazine Articles:
The telegraph story Elon Musk: Jan 2014, http://goo.gl/tXBjl7
The New Yorker Story: http://goo.gl/Xn4yLf

Elon Musk enthusiast website: http://elonenthusiast.com/

Elon Musk: Wikipedia page
http://en.wikipedia.org/wiki/Elon_Musk

Elon Musk twitter account:
http://www.twitter.com/elonmusk/

Quora: Summary of Quora links on Elon Musk
http://www.quora.com/search?q=Elon+musk
Key Quora Link: http://goo.gl/deRsmB

Published in: Education, Technology, Business

Elon Musk : What can we learn from his life & advice

  1. 1. What Can We Learn From Elon Musk ? A Handy Summary for All Time Reference A Compilation by: rohitp@media.mit.edu Rohit Pandharkar, Feb 2014 http://in.linkedin.com/in/rohitpandharkar
  2. 2. Be extremely tenacious, and just work like hell. Put in 100 hours every week. If someone else is putting in 40 Hrs a week, even if you are doing the same thing, you would be able to achieve in 4 months to do what others do in a year 1 http://www.quora.com/Elon-Musk/What-keyqualities-does-Elon-Musk-have-that-onecould-most-easily-emulate-and-benefit-fromemulating 100 Hr Work-Week
  3. 3. I think it’s very important to have a feedback loop, where you’re constantly thinking about what you’ve done and how you could be doing it better. I think that’s the single best piece of advice: constantly think about how you could be doing things better and questioning yourself. 2 Self Feedback Loop http://mashable.com/2012/04/13/elon-musksecrets-of-effectiveness/
  4. 4. Focus on something that has high value to someone else, be really rigorous in making that assessment, because natural human tendency is wishful thinking, so the challenge to entrepreneurs is telling what's the difference between really believing in your ideals and sticking to them as opposed to pursuing some unrealistic dream that doesn't actually have merit, be very rigorous in your analysis. 3 http://www.changemakrs.com/a-n/focus-onsomething-that-has-high-value-to Attacking Problems That Matter To Many
  5. 5. 4 Accurate Analysis of Your Belief In Product Accurate analysis of your belief in product. It's difficult to do so, since you're too close to yourself by definition. People do not think critically enough. People assume too many things to be true without sufficient basis in that belief, so it's very important that people closely analyze what is supposed to be true, and build it up, analyze things by the first principles, not by analogy or convention, which is actually what most people do, that makes it difficult to gain insight as to how things can be bettered. In any argument or train of thinking, you want to make sure that the underlying premises are valid and applicable, and how the conclusion reached is necessarily driven by the underlying premises and the interconnection between those premises. It's the foundation of rational thought. http://www.kimeshan.com/2014/01/03/golde n-advice-from-elon-musk/
  6. 6. People tend to over-weigh risks on a personal level. It's one thing if you've got a mortgage to pay and kids to support, so that if you were to deviate from your job, well, how are you going to feed your family and pay the rent? That's understandable, but let's say you're young and you're just coming out of college, what are your risks? You're not going to starve, certainly not in any kind of modern economy. It's so easy to earn enough money just to live somewhere and eat food. Very easy to do. So I don't know what they're afraid of. Mostly afraid of failure, I think, but people should be less risk averse, when there's not much at risk http://blog.bearingconsulting.com/2012/11/25/21st-centuryinnovator/ 5 Taking Risks & Living With $1 A Day
  7. 7. Really liking what you do, whatever area that you get into, given that even if you're the best of the best, there's always a chance of failure. I think it's important that you really like whatever you're doing, if you don't like it, life is too short. Also, if you like what you're doing, you think about it even when you're not working, it's something that your mind is drawn to, if you don't like it, you just can't really make it work, I think 6 Doing What You Like http://www.changemakrs.com/a-n/reallyliking-what-you-do-whatever-area-that
  8. 8. I think it’s important to reason from first principles rather than by analogy. The normal way we conduct our lives is we reason by analogy. [With analogy] we are doing this because it’s like something else that was done, or it is like what other people are doing. [With first principles] you boil things down to the most fundamental truths…and then reason up from there Musk gives an example of the first automobile. While everyone else was trying to improve horse-drawn carriages, someone looked at the fundamentals of transportation and the combustion engine in order to create a car. 7 First Principles Thinking http://99u.com/workbook/20482/how-elonmusk-thinks-the-first-principles-method
  9. 9. In every interview of Musk, you subtly notice and tend to ignore his healthy body. A 100 Hr hectic work week with full focus is n’t possible without a healthy body. 8 Good Health
  10. 10. Elon Musk knew Larry page even before Larry received VC funding for Google. Page introduced Musk to Steve Jobs Elon Musk travelled straight to Russia and met best of space experts from Russia when he was analyzing space travel as a business idea. Being able to talk to Russian space experts while being a private American space company Shows Musk’s ability to reach out to right people when he needs to. 9 Personal People Network
  11. 11. Five years ago [2008] Musk was on the verge of a nervous breakdown. Both Tesla and SpaceX were losing cash and Musk had to make a tough decision: try to rescue both of his projects from bankruptcy or devote all his resources into one -- without knowing if either company could survive in the long run. He chose to go all-in, and pushed both the companies. Today, both are changing the shape of their respective industries [Electric vehicles and space travel ]. 10 Not Giving Up What You Believe In Musk was Tesla’s first investor, and he kept the company afloat until recently through round after round of funding. After a Tesla employee leaked word in October 2008 to a reporter that the company was down to its last $9 million in cash, Musk promised to personally refund car buyers’ deposits if Tesla couldn’t deliver the vehicles — a promise he made in the pages of Car & Driver. At that time, those deposits — which Tesla calls “reservation payments” — were an important source of cash for the company. http://venturebeat.com/2010/05/27/elon-musk-personal-finances/
  12. 12. Youtube Videos on Elon Musk: Bloomberg Documentary: http://goo.gl/eBMbRe Elon Musk at TED: http://goo.gl/KdALA9 Fireside chat with Elon Musk Pandodaily: http://goo.gl/pYtOfo Future of Design, SpaceX http://goo.gl/PMWXmw Musk keynote at SXSW http://goo.gl/GQZfId Detailed Magazine Articles: The telegraph story Elon Musk: Jan 2014, http://goo.gl/tXBjl7 The New Yorker Story: http://goo.gl/Xn4yLf Elon Musk enthusiast website: http://elonenthusiast.com/ Elon Musk: Wikipedia page http://en.wikipedia.org/wiki/Elon_Musk Elon Musk twitter account: http://www.twitter.com/elonmusk/ MORE A Compilation by: rohitp@media.mit.edu Rohit Pandharkar, Feb 2014 http://in.linkedin.com/in/rohitpandharkar Quora: Summary of Quora links on Elon Musk http://www.quora.com/search?q=Elon+musk Key Quora Link: http://goo.gl/deRsmB More On Elon Musk

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