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  • Elon Musk by Ashlee Vance What an amazing book and what an amazing story

  • of an incredible entrepreneur. If you are an aspiring entrepreneur, you have to learn

  • from Elon Musk. He's one of the greatest entrepreneurs of our time. One of the cofounders of PayPal

  • moving on to doing Space Ex and Tesla and Solar City. He has just been a phenomenal

  • entrepreneur in so many different industries. So what did I learn what did we learn from

  • this book from Elon Musk's biography? And I'm sure there will be more biographies written

  • of him he's still a young guy there's still a lot he will be accomplishing in this life.But

  • one of the greatest lessons you can learn from Elon is believing in the cause rather

  • than the strategy to achieve to get their outcome. Believing in why you want to do something.

  • Believing in the cause so passionately that it doesn't matter whether you're going to

  • succeed at it or not you're just going to keep on going after it. So when after he made

  • around $250 million from the acquisition of PayPal he started investigating he started

  • building a rocket company and his friends thought he was crazy they really thought he

  • was crazy to just throw away his money his hard earned money into something crazy like

  • a rocket company doing a private enterprise doing Rockets or trying to launch rockets

  • but Elon was not to be deterred. Some people have often asked him why did you go down this

  • endeavor this crazy endeavor of launching rockets into space did you think you're going

  • to be successful at it and he said no I did not Think that we were going to be successful

  • but she said and I quote him he said I really believe that if something really important

  • you must really go after it even if the likely outcome is failure. Very powerful very profound

  • it's almost understanding that when you have a very strong why it doesn't matter how you're

  • going to accomplish it you're just going to figure it out. If you know you're why the

  • how will come and that is what Elon was trying to tell us that if it's important enough the

  • probability of the outcome doesn't matter you have to keep on going after it because

  • it's just so important. Another story from his life I love to talk about his stories

  • because they teach us a lot. Another story of his life his personal life when he was

  • wooing his wife Justine they were in college and he was he had just met her and asked her

  • out on a date and she agreed but then when he showed up to pick her up she basically

  • flaked on her she did not show up for the date. But Elon was so persistent he went and

  • searched her best girlfriend asked her what her favorite flavor of ice cream and ask her

  • where she was going to be on this day at this time and he showed up at the library with

  • two cones of chocolate chip ice cream just because he knew she wanted it she liked that.

  • So he was not to be deterred if he wanted her he was going to get her that's what Justine

  • said as well Elon was going to call her he keep on calling and calling and calling until

  • she answered the phone and he was so persistent he just could not take no for an answer. She

  • said he's like a terminator once he sees that he wants you he'll just log on you locks and

  • on he says you shall be mine or this thing shall be mine. So that is the amazing thing

  • about Elon he Believe in the cause more than the strategy that he took the possible outcome

  • in that moment because he was just going to keep on trying and one of the things he said

  • in 2008 he was about to lose both Tesla and space X almost on the verge of bankruptcy

  • he said the thing that bothered him the most was the idea that people would stop believing

  • in space exploration and people would stop believing in electric cars. he wasn't just

  • rattled with the idea that he would lose all his Wealth, he was much more worried about

  • the fact that the cause which was electric cars and space exploration so he did not want

  • people to lose Faith in something as important as that and that is really really important

  • to understand the difference between the why of doing something and the how of doing something

  • the cause versus the strategy of getting to that cause.The other thing that really stands

  • out about Elon is his willingness to just bet it all, to die for it. He has a very high

  • tolerance for pain and he would go all in he is relentless. The thing about Elon is

  • that he’s willing to stake it all. He’s willing to go all in and that is why his rate

  • of success is very high. It sounds counterintuitive but a lot of things in life are counterintuitive

  • that way. So he is like that, when he was starting his own company and when he was seeking

  • funding too, the venture capitalist after they talk to him they would invest and he

  • wanted to understand or when they tried to figure out or when he was trying to seek funding

  • they would ask him questions one of the things he would say is like I am a samurai. I am

  • willing to die. I am staking my existence on this company so that is the way I operate

  • this business. I will do whatever it takes to make it work and that is what kept the

  • venture capitalist coming at him. One of the greatest stories of his life, greatest now

  • in retrospect of back then when it was one of the most painful times of his life. In

  • 2008 he had divorced Justine, his first wife, and he had 5 kids from his first marriage.

  • Not only that, he was both Space X and Tesla was about to go bankrupt and this is in December

  • near Christmas time and theyre both about to go bankrupt and Elon is wondering if he

  • should split his money between the two companies or splitting wouldn’t work go with one way

  • or the other but he couldn’t just do that either because he wanted both of them to survive.

  • So he got to the brink of it almost the brink that he wouldn’t be able to make payroll

  • the next day and some of the venture capitalist on his test line assessment, they started

  • to feel like they could get a lot more. They wanted ownership of the company by figuring

  • out because they figured out that if they could twist his arm they could make some quick

  • money but Elon didn’t want to do that so he refused he kept on persisting trying to

  • figure out a way to make money almost to the point 23rd of December 2008 he still didn’t

  • have the money the companies were going to go shut down in a week’s time and he was

  • living on his friend’s couch since his personal fortune was down to a few hundred thousand

  • dollars and he was maxed out but he kept on hustling and in 2008 December 24th or 23rd,

  • NASA came calling and they awarded him a $1.6 billion dollar contract and then he was able

  • to fund around Tesla because he was able to tell his investors that he was going to take

  • a loan and so on and so forth. But the main thing is that he went so close to failure,

  • he went so close to being all out of everything but he kept on going he did not give up on

  • the dream, he did not give up on the cause and that is the amazing thing about this guy.

  • He is willing to take it to the death and if that is the conviction you have for your

  • startup, for your business then you could see why you’d be successful.

  • The other thing to learn about Elon is this hardcore work ethic and he is famous for saying

  • if you work for 50 hours a week and I work 100 hours a week, I will do in 5 years what

  • you take 10 years to do. So I will work hundred hours a week. More than that he works every

  • day of the week. In fact, there are stories that he will setup his desk in the middle

  • of the factory on Fridays and Saturdays and Sundays just to emphasize that he’s working

  • and he expects everyone else to be working hard as well. When he was starting, there’s

  • another story, they did not even rent an apartment. They said they were just going to use the

  • office. Theyre going to sleep in the office, theyre going to shower at the YMCA, and

  • theyre going to work all day long on the startup and that’s what they did and Elon

  • would sleep under his desk in the night times after doing coordinating all night long whoever

  • was the first one to came in the office he would just wake him up and get back on the

  • computer and start again. That was the maniac obsession he had with hard work with doing

  • it no matter what. And even when he was dating this and he had a girlfriend, the girl would

  • come over and would actually sleep at the office because that was the only option she

  • had and she was okay with it. This guy was on a mission so he was not going to be stopped.

  • He was going to keep working hard. The other thing that really stands out is

  • his thirst for knowledge and reading. So when he was 12 years old he was reading 10 hours

  • a day. He would read like 2 books a day and in 4th grade he ran out of books to read in

  • his school library. He ran out of all the books to read in his school library. So he

  • went on to read Encyclopedia Britannica and he read all the Encyclopedia Britannicas.

  • That is his thirst for knowledge and it shows because he’s one of the most knowledgeable

  • man out there when it comes to all these different perspectives. Physics, Astronomy, Electric

  • cars, rocket science, or biographies of famous people, science fiction. His favorite book

  • was Hitchhikers of the Galaxy. He loved to read, he loves to read, he loves to understand

  • and there’s a famous story where all his friends were partying it up in Las Vegas after

  • they had made their hundreds and hundreds of dollars in Paypal, and Elon had also made

  • $250 million dollars. While people were partying at the pool, Elon was sitting in a corner

  • reading some obscure rocket science manuals and books and his friends were just surprised

  • at how intense this guy is when it comes to seeking knowledge and figuring it out and

  • his companies and he did not have the knowledge to build electric cars, he did not have the

  • knowledge to build a rocket company but he figured it out. He read it, he went to the

  • experts, he seeked out knowledge and that’s always been a constant theme in his life.

  • So really powerful ideas from one of the greatest entrepreneurs of our time. I highly recommend

  • you look into learning from Elon, great guy.

Elon Musk by Ashlee Vance What an amazing book and what an amazing story

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Elon Musk Biography Summary Ashlee Vance -

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    alex posted on 2016/04/26
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