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Transcript of Elon Musk
-Paula Izu Family Life -Born on June 28, 1971 -Grew up in Pretoria, South Africa -Father (Errol Musk) is an Engineer from South Africa -Mother (Maye Musk) is an author, nutritionist, and model -He has 1 brother (Kimball Musk) -FUN FACT!
Kimbal now runs "The Kitchen" restaurant in Boulder, CO EDUCATION Elon left home at age 17, and began his college career at Queens University in Kingston, Canada
He transferred in 1992 to attend the University of Pennsylvania
Graduated from the Wharton School with a degree in Economics in 1994
Stayed an extra year to obtain a 2nd degree in Physics in 1995
Attended Stanford University for a graduate degree in Advanced Physics.
...He dropped out after only 2 days Childhood Interests Loved reading Comic Books
Loved Video Games At age 12, he had written his own code for a video game called "Space Blaster" Personal Life Elon married author Justine Wilson in 2000
They had 5 sons together
Elon and Justine divorced in 2008
Elon married British actress Talulah Riley in 2011; they divorced in January 2012 Zip2 X.com / PayPal SpaceX Tesla Motors Elon's Career
Trajectory as CEO Solar City -The idea was to replace the paper phonebook -He dropped out of Stanford after 2 days to start the company with his brother Kimbal -The website was made to provide online content and publishing software for news organizations -They sold the company in 1999 to Compaq for $307 million in cash, and $34 million in stock options -Started in March of 1999 as X.com, and was a financial services/e-mail payment firm -In 2000, they acquired PayPal to incorporate person-to-person payment methods -In February, 2001, they legally changed their name from X.com to PayPal -In 2002, PayPal was competing with eBay, who ended up buying them out for $1.5 billion in stock " I just think anyone
can do anything" -Elon started SpaceX in 2002 to fulfill his childhood dream of space exploration Elon doesn't want to be bound to history, and strives to inspire people to be extraordinary.
He aims to change conventions and ideas surrounding everyday products.
He utilizes a hands-off management approach, and is considered a visionary. Conflict Resolution
& EQ Competencies Hold faith
Social Skills -In 2008, SpaceX received a $1.6 billion contract from NASA to schedule 12 un-manned cargo trips to and from the International Space Station -Their first manned-mission is scheduled for 2015 Falcon 9 Falcon 1 Dragon Spacecraft -Tesla Motors was founded in 2003 as a company to give consumers a luxurious and appealing green-transportation option -It is named after physicist and engineer, Nikola Tesla, who Elon Musk greatly admires -Tesla went public in 2010; they were the first American car company to go public since Ford in 1956 - They have two main models
- Tesla Roadster
- Tesla Model S - Tesla is currently partnering with Toyota, Daimler, and Mercedes -SolarCity is an American solar energy provider founded in 2006, and Elon Musk is an adviser for them -They provide an infrastructure and a system for consumers to lease solar energy instead of purchasing fossil fuel energy -In 2009 they partnered with Tesla Motors to start manufacturing and distributing electric car charging portals Influencer Agent of Change Strategic Leader Leadership Qualities Communication is Key -Elon says that Data informs the Instinct
-He prefers open communication
-creates a sense of Urgency Charisma -Elon is said to be extremely charismatic, and his passion for new, big ideas is contagious in his companies Ability to Adjust -One of Elon's greatest skills lies in Crisis Management Falcon 1 Falcon 9 Dragon Spacecraft -SpaceX has had 3 successful missions First privately developed, liquid-fueled rocket to orbit Earth SpaceX's second successful launch attempt in 2008 First privately developed spacecraft to attach to the International Space Station
It was launched using Falcon 9 Leadership Style -Entrepreneurial Style
>Strong Achievement Drive
>Sensible Risk Taking Skills -Enthusiasm, Creativity, and Passion "To succeed you have to believe in something with such a passion that it becomes a reality." Leadership Style -Elon is very persuasive, and acts quickly when opportunities arise
>he is in a constant hurry
>he is always impatient -Visionary Sense combined with Tenacity
-He sees opportunities others fail to observe
-Elon is Inspirational to his employees
-Constantly looks for future opportunities
-He is a fast learner and does his homework
-He is involved in several varying industries
-Within his companies, he is a "truth teller" Leadership Style -He views his companies as:
-He hates hierarchy & bureaucracy
-He takes a "hands-off" approach to management
-Often De-emphasizes rules and regulations
-His preference lies in dealing with external customers "a group of organized people doing something useful." "If it was up to me, I will just be doing engineering all day long, and that stuff, and testing new ideas, but I have to do lots of organizational management and finance meetings with investors. I would prefer be working with my engineer team developing new ideas” Passion > Public Speaking -Elon Musk struggles with public speaking
-stumbles through his words
-His passion for his projects shines through his awkwardness
Ex. NPC Luncheon Speech Public Accolades One of America´s 20 Most Powerful CEOs 40 and under Elon Musk has recieved numerous public accolades including: Forbes Magazine Time Magazine People who most affected the world Inc. Magazine Entrepreneur of the Year Esquire Magazine "One of the 75 most influential people of the 21st Century" The Atlantic Brave Thinkers Issue What did we learn? Questions 1. Do you believe that Elon Musk is an "exceptional" case, or do you believe that everyone has the potential to be this successful?
2. Do you think that you could work well under someone with such big and risky ideas? Or do you prefer a more predictable environment? Why?
3. Are there any other leaders that you are aware of who are similar to Elon Musk? If so, in what ways? “If Elon denied this fact, it would call into question everything else he has said. Elon is doing incredible things, and asking a lot of us to trust him. He must be honest with us if he wants to keep our trust. Being honest about the road ahead is the only way to keep that trust, and Elon is following the right path with this statement” Employee's thoughts on Elon's Honesty "He hires incredible people and expects them to do what he hired them to do." 1. Great Ideas can be materialized with Great Passion
2. We found value in the adage "if at first you don't succeed, try, try again."
3. Never, ever settle - you can always do better
4. Trust that the people you hired are great
5. You can do anything you want; you do not have to limit yourself to one career path Plans for a "Hyperloop" -Anita Roddick