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  • In recent memory

  • And I basically said what ah wait a minute

  • I've accepted everybody's arguments of why we can't do this

  • But here's this small start-up company in California

  • And they think that they can get all of these figures you don't want on this stuff, you know

  • I've identified will not ever

  • Lead a space Frontier must step down from his role as chairman to settle a government lawsuit

  • It was announced today the SEC sued Musk on Thursday

  • accusing him of misleading investors

  • Stumbling and crashing its way to the bottom of the Nasdaq and charged Elon Musk with fraud. Mr. Musk is gambling with the shareholder

  • That's maybe just about the test. It's a cold stock, but the business absolutely

  • Is lousy that people are finally starting to figure it out

  • the SEC filed securities fraud charges against Elon Musk

  • April Fool's Day must mix his optimism with dark humor on social media in the midst of

  • Widespread concerns Tesla might collapse he tweeted this we are sad to report that Tesla has gone completely

  • Tesla stock voted by Wall Street as the least likely to succeed

  • Tesla CEO Elon Musk is the subject of a new controversy

  • But is it about you that

  • Seems to invite

  • Skepticism do people get upset at you if you do certain things

  • This stuff isn't from those sci-fi novels and movies and it's so far away

  • But every time I hear you speak, it's like well, no this stuff is sitting it's right here. I'm interested in things that

  • That changed the world or that affect the future and wondrous new technology where you see it and you're like wow

  • How'd that even happen how how's that possible? I?

  • Like creating things that have never been seen before or even imagined before we see

  • The Tesla Roadster this year. Absolutely this year should be coming out in about six seven months

  • Well, I think it's because we're doing these things that seem unlikely to succeed

  • He told me that he was waking up in the middle of the night and there would be tears on us in

  • 2008 the rocket company is not going. Well. I had three failures the car company is emerging money and

  • the American economy has

  • Tanked in the worst recession since the Great Depression and I'm getting divorced by the way

  • That was there was definitely at the worst year of my life

  • Critics say you can't do this. Your answer to them is we're done it how many people predicted?

  • in 2008

  • that SpaceX would have done these things by

  • 2018 I think

  • Zero, it's been 17 years to get to this point for 2002 to now. It will amount of hard work and sacrifice

  • From a lot of people that it's done at this point

  • So a fourth failure, the full failure would have been absolutely game over done done

  • SpaceX

  • bankrupt

  • Dog

  • Really you think this would work, um

  • Like when I see the rocket liftoff I see like a thousand things that

  • That not work and it's amazing when they do I'm hopeful that the first people could be taken to Mars in ten to twelve years

  • I think it's certainly possible for that to occur. The thing that really matters. The long term is to have a self-sustaining city on Mars

  • Things have been going a lot wrong for a long time at Tesla when it comes to profitability

  • So it's really not about one quarter

  • it's about whether or not you're gonna make the leap of faith that Tesla is actually going to make a

  • Profitable company it out of the stock now

  • I mean

  • I think there's nothing but accidents waiting to happen and if we've been fortunate and

  • These thus far they have succeeded crazy things can come true

  • You put 90 billion dollars of breaks into into solar and wind. It's a sudden

  • It's Solyndra and Fisker at Tesla and or one

  • I mean, I had a friend who said you don't just pick the winners and losers you pick the losers making a car company

  • successful is

  • Monumentally difficult. It is absurd a Tesla's life absurd

  • Excruciating effort

  • 100 hour weeks by everyone by everyone here at Tesla. Yes. Either be a

  • Multi-planet species and out there among the stars or will be a single planet species until some eventual extinction event either natural man-made

  • They don't make money he hasn't been able to build cars, this is the problem surd at Tesla's life absurd

  • Uh, he's a self-confessed

  • Manic-depressive he he is known to use recreational drugs. Believe me

  • There are people who could run an automobile company a lot better than he can. It's like Elon Musk

  • You've been beamed down from another planet

  • To show us mortals how to run an out of run a company and a fuse that got people were laughing at you now

  • Not sleek referrers work superheroes work seven days a week

  • It was like part of some of those days must have been like hundred twenty hours to some unity

  • The other option would have been Tesla dies Tesla cannot die. Tesla is

  • Incredibly important for the future or sustainable transport 11 years today

  • Tesla had made one car that car

  • That's serial. Number one

  • It's pretty wild to think that 11 years ago today

  • We had made literally one car and a year from now world made a million

  • Well by 2030 electric car sales are expected to surge to 30 million vehicles worldwide

  • our goal all along has been

  • To try to get the rest of the car industry to its go electric like we're at an inflection point

  • the car companies have announced three hundred billion dollars

  • That they're investing in making even careful that we'll be able to achieve at least a half million cars a year by 2012 a million

  • cars by

  • 2020 try to make change as opposed to just reading about they made their there third quarter targets

  • Every car company in the world. I think every boardroom said, oh my goodness

  • If you study engineering and you figure out how to design new things

  • Then it's relatively easy to start a company. You just need to get a few like-minded people

  • with you and and then focus on creating a prototype the compelling prototype as soon as possible and

  • That that's all there's to it and you might you know, try it a few times

  • My bail may not succeed

  • But I think sometimes people fear fear starting a company too much, you know to say really what's worse that could go wrong

  • You know cast off to death, you know, you're not gonna die of exposure

  • What's worse they go wrong

  • I think we should try to take the set of actions that are most likely to make the future good for us middle to the

  • Middle here. I

  • Mean, you know each month that passes is literally

  • Cost us tens of millions of dollars. I mean we need to appreciate that

  • It's been one the darkest days on Wall Street and reason that instead of being up in an ivory tower

  • I want to be in the middle of a battle. And so that means putting my desk in the middle of the factory, sir

  • My gosh, why is everyone getting all on his case?

  • He wants to get high on a Joe Rogan podcast and you let him let him be the individual that he is

  • He's a force in society that's like like a

  • a

  • Cross-pollination of Thomas Edison and Tony Stark you cross pollinate those two folks you get Ilana

  • it's like some superhero type Shannon SpaceX be the company that

  • Brings humanity to Mars and I always see it while I'm still alive

  • You're 47. What is the likelihood that you?

  • Seventy percent

  • What is your hope in terms of the impact you will leave on culture

  • I think what I'd like to do is help solve some important problems

  • All the companies we interviewed in Silicon Valley

  • Tesla is the only one that survived a decade later all the others went bankrupt

  • You think that you are gonna be the general motors of the future? I?

  • Would describe it differently?

  • I think I think

  • Really the goal of Tesla Motors is to help accelerate the advent of the electric vehicle

  • The whole point of Tesla is to accelerate the the advent of electric vehicles

  • erratic

  • unstable reckless

  • Operatic. I'm just being me the system would have failed if I if I was truly erratic try to adhere to some

  • CEO template that we got lost along the way with our space program. What did you mean by that?

  • Well what I mean by that is in 1969

  • We were able to go to the moon and here we are over three decades later and we can barely get to low-earth orbit

  • All right, am I supposed to do something

  • And I can hear okay, I think this is this is a fantastic thing but this there's gonna be even better things in the future

  • and we're super super excited for what's happened and

  • 150 miles above Africa the capsule undocked from the International Space Station

  • This critical test flight paves the way for a dragon mission carrying astronauts. It's been 17 years

  • There still haven't lost anyone yet

  • But hopefully we will later this year

  • So that would definitely be the culmination of a long dream for me and a lot of people at SpaceX for sure

  • We should have a base on the moon. I kept that permanently occupied human base on the moon and send people to Mars

  • You know, and I said pull the city on Mars. That's where she do. I

  • Mean I should say that you know when I was a kid, I didn't really have any grand designs

  • I mean, the the reason I started programming computers is because I like computer games. It was very violent

  • It was not a happy childhood. It has almost been to death if you'd call that Boyd

  • I learned that if I wrote software and sold it then I could get more money and buy better computers

  • He was interested in computers early at the age of 12

  • He wrote the software for a video game and sold it against his parents wishes

  • He set his sights on the software capital of the world. I really want to work on new technology

  • so I when it get to Silicon Valley I moved first to

  • Canada by myself when at 17 and then a few years later

  • I moved to the US writing software during the summer of 95 trying to make useful things happen on the internet

  • I wrote something that allowed you to get maps and directions on the internet and then something that allowed you to do online

  • manipulation of content

  • Things were pretty tough in the early going. I didn't have any money. In fact, I had negative money

  • I'd hear student debts Oh, in fact, I couldn't afford a place to stay and an office

  • so I rented an office instead because that was I was actually I got a a cheaper office that I could get a

  • Get a place to stay and then we I just wanna sleep on the futon and shower at the YMCA on Paige Mullin

  • Musk sold his first computer program at the age of 12 and he hasn't stopped selling since 95

  • They weren't very many people on the Internet and certainly nobody was making any money at all

  • Most people thought the internet was gonna be a fad

  • There basically only about six of us there were myself my brother who directed us to come down from Canada and

  • Friend of my mom. This is an ATM. What we're gonna do is transform the traditional banking industry

  • He started an online banking firm that he grew into PayPal a system for making

  • Purchases on the internet and you sold PayPal to eBay for pi was about why don't half billion dollars

  • So we actually lived in the office and we would sleep it

  • on the floor in the evening and go shower at the YMCA the next morning and then we would be ready to go before the

  • Before some of our employees would arrive so they wouldn't think we were actually sleeping any other

  • Effort PayPal had said I want to get back into

  • electric vehicles and

  • Make something happen in that arena. It wasn't as though in creating these companies that so we thought that we would be successful

  • I thought that the most likely outcome was failure

  • but

  • But it was still worth doing. Well. I didn't really think Tesla would be successful

  • I thought we would most likely fail but I thought that we at least could address the false

  • perception that people had that an electric car had to be ugly and slow and and

  • Boring like a golf cart. So you didn't expect the company to be successful. Then why try if something's important enough

  • you should try even if you

  • Probable outcome is failure

  • Elon Musk was just very honest and I really think back then

  • He may have thought the idea would survive but his company would not how much more has the project cost

  • Then you thought it was going to cost probably played twice as much

  • I think ish there about how much did you put into this company? Don't tell me you don't know

  • No, I did. It's about fifty five million dollars

  • fifty five million dollars of your own money

  • It's very difficult to

  • Start companies and quite painful and that's important to bear in mind. I don't know if it's that's probably not encouraging

  • Leave this way. If you need inspiring words, don't do it. You had that third failure in a row

  • Did you think I need to pack this in Devin?

  • Why not? I don't ever give up

  • I mean I'd have to be

  • dead or completely incapacitated

  • My grandfather moved with whittle woola's kids and my mom never went to South Africa

  • Because he wanted to use it as a base of exploration

  • So you had this little plane that he liked to fly all over the place

  • And he he cleared all through Africa and Asia and he was the first person to fly from South Africa to Australia

  • He did this in a plane with no electronic instruments in some places. They had diesel in some places

  • They had gasoline. He had to rebuild the engine according to wherever

  • Whatever fuel they had just for exploration. Just a question for curiosity seems to run in the family. Yeah, I guess

  • He was prepared to sacrifice everything

  • his entire fortune

  • To get a rocket into orbit my second or third trip back from Russia

  • I was like, whoa. He's gotta be aware to solve the rocket problem

  • I missed our reading a lot of hooks and rockets and

  • Did a better sort of a first principles analysis of of a rocket just broke down the materials that are in a rocket

  • what would it cost to buy those materials what verses the price the rocket and there's a gigantic difference between the

  • Raw material cost of the rocket and the finish cost the rocket people who say that the company cannot survive without you

  • Yeah, there are people who say the company cannot survive with you. I definitely feel stressed

  • Yeah, it's like we've been incredibly difficult and painful last several months. Mm-hmm. Painful. Absolutely, of course, yeah

  • Yeah, I mean I'm sleeping on the factory floor. No because I think that's like a fun place to sleep. Mm-hmm, you know

  • Terrible sleeping on the factory for doing why are you doing that?

  • It doesn't have time to go home and shower I see when they catch her there. So you're just laying here. Yeah a couch. Yeah

  • It's that simple. Yes, I don't believe like people should be experiencing hardship while the CEO is like all for vacation

  • The truth is stranger than pictured

  • Okay, this is why it's important and even if the odds are that it won't succeed

  • it's worth trying to do it and I think

  • You can create a great company

  • Whether use the amount and the greater the span of time that you look at

  • The things that seem important in the moment are fade away and the things that are truly significant

  • Are still there?

  • what is it that you have that so many people who are

  • Unbelievably brilliant at engineering or are incredibly good managers or bold business people or what have you

  • What is it that you have? Do you think it enables you to make this stuff happen?

  • When I was little kid I was really scared of the dog

  • But then I I sort of came to understand, okay, well dark just means really the absence of

  • photons in the

  • visible wavelength but they bring light to the dark and

  • They show us the universe

  • And Ilan said darkness is merely the absence of light then I thought well it's really silly to be

  • afraid of a lack of photons

  • Then I wasn't afraid of the dark anymore after that

  • Yeah, I had sort of a dark childhood it wasn't good

  • When I read The Hitchhiker's Guide to the galaxy that that sort of highlight at the point that

  • Very often the issue is understanding what questions to ask and if you can properly frame the question then the answer is the easy part

  • The genesis of SpaceX was not to create a company pit but really had it

  • How do we get NASA's budget to be bigger that was initially a goal?

  • I came up with this little small philanthropic mission

  • Which would be to send a small greenhouse to the surface of Mars called Mars and races on landing

  • See, it's proving dehydrated nutrient gel

  • Hydrate upon landing and and you have this little greenhouse and then the money shot