Life lessons of ElonMusk History of Elon Musk Elon Musk Space X, Tesla Rockets Management Principles

1. ELON MUSK
E N G I N E E R
I N V E N T O R
I N V E S T O R
V I S I O N A R Y
L E A D E R
E N T R E P R E N E U R
P H I L A N T H R O P I S T

2. A PRESENTATION BY:
 MOHIT VAISHNAV
 VARUN BODDU
 ANUNOY MOHARER
 GANESH GARIMELLA
 SANCHAY NAYAK
“I THINK IT WOULD BE COOL TO BE BORN ON
EARTH AND DIE ON MARS – ELON MUSK”

3. THE BORING
COMPANY

4. I GIVE UP
WHAT THE
HELL..!!!
HE IS MY MAN..

5. A LITTLE BACKGROUND…
“RAISING MONEY FOR INVESTMENT IS MATTER OF MAKING FEW KEY PHONE CALLS”
MULTINATIONAL:
BORN IN SA, RAISED IN CANADA, STUDIED IN USA, ANCESTORS FROM BRITISH
AUTODIDACTIST:
NURTURED ENCYCLOPEDIA, TAUGHT HIMSELF COMPUTER PROGRAMMING@9
ENTREPRENEUR FROM CHILDHOOD:
@12, HE CREATED VIDEOGAME “BLASTAR” and sold for 500$
HUMANITIES 5 MAIN PROBLEMS:
INTERNET,
AI,
SUSTAINABLE ENERGY,
ELECTRIFICATION OF CARS/MODE OF TRANSPORT,
SPACE EXPLORATION

6. ZIP2:
• MUSKS FIRST STARTUP WITH BROTHER KIMBAL FOR DIGITALIZING NEWS PAPERS,
CALENDERS AND ONLINE CITY GUIDES, SOLD FOR $300 MILLION
X.COM/PAYPAL
• ONLINE PAYMENT SERVICE. LATER MERGED WITH CONFINITY TO FORM PAYPAL
• OUSTED FROM HIS ROLE AS CEO, LATER SOLD PAYPAL TO EBAY FOR $1.5BILLION WHERE
MUSK RECEIVED $165MILLION (12% OF SHARES)
SPACEX:
• STARTED IN 2002, MOST UNTHINKABLE, ILL ADVISED, VENTURE TO REVOLUTIONIZE SPACE
TRAVEL AIMING AT COLONIZATION OF MARS.
• LAUNCHED 1ST ROCKET IN 2006 AND 2 MORE IN 2007 WHERE ALL 3 FAILED.
• ALMOST BANKRUPT, THE 4TH ROCKET SUCCEEDED GAINING SIGHT OF NASA AND BAGGED
$1.6BILLION CONTRACT
TESLA
• STARTED AS BACKUP PROJECT IN 2004, IT REFORMED CAR INDUSTRY TO FEW DECADES
AHEAD
• INNOVATED DRIVERLESS TECHNOLOGY WHICH TURNEDOUT TO BE SMASHING SUCCESS
WITH CONSUMER RATING 99/100, AND SAFEST EVER

8. MUSK RISK
WHAT NOT TO DO…
“I WANT TO MAKE LIFE MULTIPLANETARY. I STILL BELIEVE IN”
FEARLESS & DARING
KNOWING WHAT TO ASK IS CRITICAL
OVER CONFIDENCE
DOESN’T CONCIEVE FAILURE
LACK OF EMPATHY
UNFAIR TREATMENT OF EMPLOYEES
LEARNING STAGE
HE IS NOT AT HIS BEST IN MANAGEMENT. LEARNING FROM EXPERIENCE

9. TRANSFORMATIVE BUSINESS
NO FOCUS ON MAKING MONEY
BEYOND CRAZY…
INNOVATIVE LEADERSHIP
TECH DRIVEN FIRMS
WORK LIKE A MACHINE
80-100 HOURS WORK WEEK
5TH MODE OF TRANSPORT
HYPERLOOP : 6HRS -> 30 MINS
“AI IS POTENTIALLY MORE DANGEROUS THAN NUKES”
COLONISATION OF OTHER PLANETS
COULD BE ESSENTIAL FOR THE SURVIVAL OF HUMANITY
PHARMACEUTICALS, GENETICS, OPEN INTERNET , MARS COLONIZATION……….

10. STRENGTHS

11. FOCUS:
“IF THERE WAS A WAY THAT I COULD NOT EAT, SO I COULD WORK MORE, I WOULD
NOT EAT. I WISH THERE WAS A WAY TO GET NUTRIENTS WITHOUT SITTING DOWN FOR
A MEAL.” NICHOLESON ON MUSK
RESILIENCE:
“WE ALL WORKED 20 HOURS A DAY, AND HE WORKED 23 HOURS.” — JULIE
ANKENBRANDT ON WORKING WITH MUSK AT THE STARTUP X.COM
MOTIVATOR :
HE HAS THE ABILITY TO MAKE PEOPLE BELIEVE IN HIS OWN VISION
RELENTLESS INNOVATION:
TESLA IS TRUMPING FORD AND GENERAL MOTORS WITH PROFIT MARGINS >20%
SPACEX WAS CHOSEN BY NASA TO DEVELOP THE NEXT GENERATION OF SYSTEMS

12. LEADERSHIP STYLE:
LEADERS SET THE PACE FOR THEIR OWN COMPANY AND OTHERS IN THE INDUSTRY
TO FOLLOW.
STRENGTHS:
1. TRUE VISIONARIES CAN REVOLUTIONIZE AN INDUSTRY AND CATER TO FUTURE
MARKETS
2. WILL BE “TWO STEPS” AHEAD OF THEIR COMPETITORS
3. WILL LEAD BY EXAMPLE AND EMPOWER PEOPLE WITH THEIR OWN DEEP-SEATED
VALUES
SITUATION FAVORABLENESS:
LEADER-MEMBER RELATIONS - DEGREE OF TRUST, RESPECT, CONFIDENCE THAT
EXISTS
BETWEEN THE LEADER AND THE WORKERS.
TASK STRUCTURE - DEGREE TO WHICH TASKS ARE CLEARLY EXPLAINED AND
STRUCTURED FOR WORKERS
LEADER POSITION POWER - DEGREE TO WHICH THE LEADER POSSESSES INHERENT
POWER IN HIS OR HER POSITION.

13. WHY MUSK IS GREAT…

14. VISIONARY
THINKING 10 YEARS AHEAD (PAYPAL IN EARLY 21ST
CENTURY)
SUSTAINABILITY
INNOVATIONS WHICH ARE ECO FRIENDLY
OPENNESS IN INNOVATION
MAKING PATENTS ACCESSABLE
50:50
EQUAL FOCUS ON BOTH THE FIRMS
“IN THE TRUE SENSE , WE NEVER FAIL . WE FAIL ONLY WHEN WE QUIT. I NEVER DID”

15. HUNTING FOR PERFECTION
INTERVIEWING HIMSELF
ONE TO ONE INTERACTION
REGULAR MEETINGS WITHIN ALL LEVELS
NO TO ADDS
FOCUS ONLY ON R&D
BIG QUESTION???
UNIQUE PRODUCTS
UNDERSTANDINGS/OBSERVATIONS
“IF SOMETHING IS IMPORTANT, WE SHOULD TRY TO DO IT EVEN IF PROBABLE OUTCOME FAILS”

16. MUSK AS A ROLE MODEL….
“INSPIRE A MOVEMENT …..ELEVATE THE BRAND…..DEMOCRATIZE THE IMPACT…..”

17. PERSONALITY TYPE - MYERS-BRIGGS TYPE INDICATOR (MBTI):
INTJ (INTROVERSION, INTUITION, THINKING, JUDGMENT)
• HOW THEY FOCUS THEIR ATTENTION OR GET THEIR ENERGY
(EXTRAVERSION OR INTROVERSION)
• HOW THEY PERCEIVE OR TAKE IN INFORMATION
(SENSING OR INTUITION)
• HOW THEY PREFER TO MAKE DECISIONS
(THINKING OR FEELING)
• HOW THEY ORIENT THEMSELVES TO THE EXTERNAL WORLD
(JUDGMENT OR PERCEPTION)
“I”

18. MINTZBERG'S MANAGEMENT ROLES:
ELON MUSK ALMOST COVERED ALL EXISTING MANAGERIAL ROLES
1. FIGUREHEAD
2. LEADER
3. LIAISON
4. MONITOR
5. DISSEMINATOR
6. SPOKESPERSON
7. ENTREPRENEUR
8. DISTURBANCE HANDLER
9. RESOURCE ALLOCATOR
10. NEGOTIATOR

19. AWARDS AND RECOGNITION:
• ONE OF THE 75 MOST INFLUENTIAL PEOPLE OF THE 21ST CENTURY BY ESQUIRE
• IN A 2010 SPACE FOUNDATION SURVEY, HE WAS RANKED AS THE NO. 10
MOST POPULAR SPACE HERO EVER
• IN FEBRUARY 2011, FORBES LISTED MUSK AS ONE OF "AMERICA'S 20 MOST
POWERFUL CEOS 40 AND UNDER".
• IN 2013, MUSK WAS NAMED THE FORTUNE BUSINESSPERSON OF THE YEAR FOR
SPACEX, SOLAR CITY, AND TESLA MOTORS.
CONCLUSION:
• MOST OF HIS IDEA’S & VISIONS BECAME TRUE
• ALWAYS LEARNING AND ACCEPTING FAILURE
• NEVER SEIZED TO DREAM BIG
• LIVES UP TO THE EXPECTATIONS OF HIMSELF
• OPTIMISTIC IN HARD TIMES

20. THANK YOU
QUESTIONS..??