The Richest Man On Earth Gives Business Advice | Elon Musk

The Richest Man On Earth Gives Business Advice | Elon Musk

Elon Musk shares his inspiring journey about how he became the richest man in the world, offering practical advice to anyone listening.

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Speaker: Elon Musk

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Transcript:

You know, there are American heroes who don't like this idea.

Neil Armstrong, Gene Cernan, have both testified

against commercial spaceflight in the way that you're developing it,

and I wonder what you think of that?

I was very sad to see that because those guys are,

yeah, those guys are heroes of mine, so it's really tough.

I wish they would come and visit

and see the hard work that we're doing here,

and I think that would change their mind.








Some of them are going to sound like,

“well, you've heard it before, but it's worth reemphasizing”.

I think the first is,

you need to work, depending on how well you want to do,

particularly if you're starting a company, you need to work super hard.

So what does super hard mean?

Well, when my brother and I were starting our first company

instead of getting an apartment, we just rented a small office

and we slept on the couch.

And we showered at the YMCA,

and we were so hot up we had just one computer,

so the website was up during the day

and I was coding at night.

Seven days a week all the time.

And I sort of briefly had a girlfriend that period

and in order to be with me, she had to sleep in the office.

So, work hard like, I mean every waking hour.

That's the thing I would I would say, particularly if you're starting a company.

And if you do a simple math, say like,

OK, if somebody else is working 50 hours and you're working 100,

you'll get twice as done, as much done in the course of the year

as the other company.

The other thing I'd say is that

if you're creating a company or if you're joining a company,

the most important thing is to

attract great people,

so either be joining a group that's amazing that you really respect

or if you're building a company, you've got to gather great people.

I mean, all the company is, it is a group of people

that have gathered together to create a product or service.

And so depending upon how talented and hardworking that group is

and the degree to which they're focused cohesively in a good direction,

that will determine the success of the company.

So do everything you can to gather great people

if you're creating a company.

And then the final thing is,

is to sort of don't just follow the trend.

So you may have heard me say that it's good to think in terms of

the physics approach for first principles.

Which is rather than reasoning by analogy, you boil things down to

the most fundamental truth you can imagine and you reason up from there.

And this is a good way to figure out if

something really makes sense or if it's just

what everybody else is doing.

It's hard to think that way, you can't think that way about everything,

takes a lot of effort,

but if you're trying to do something new, it's the best way to think.

And that framework was developed by physicists to figure out counterintuitive things

like quantum mechanics,

so it's really a powerful, powerful method.

And the final thing I would encourage you to do is,

now is the time to take risk.

You don’t have kids,

but as you get older your obligations increase.

And once you have a family you start taking risks not just

for yourself but for your family as well, it gets much harder

to do things that might not work out.

So now is the time to do that,

before you have these obligations.

So I would encourage you to take risks and do something bold,

you won’t regret it.

Thank you.

By: The Outcome
Title: The Richest Man On Earth Gives Business Advice | Elon Musk
Sourced From: www.youtube.com/watch?v=Sv9nxEhcgWQ

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