Motivational insights from Elon Musk on innovation, failure, and perseverance in space and electric car industries.
Key Takeaways
- Innovation requires enduring multiple failures and financial risks.
- Perseverance and self-belief are critical when facing widespread skepticism.
- Balancing resources between ventures can be a life-or-death decision for startups.
- Private enterprise can lead space exploration despite historical doubts.
- Long-term vision and inspiring goals are essential for meaningful progress.
What the video covers
- Elon Musk reflects on his unique mindset filled with constant ideas since childhood.
- He discusses skepticism and challenges faced by Tesla and SpaceX, including financial struggles and multiple failures.
- Musk highlights the difficulty of balancing resources between Tesla and SpaceX during critical periods.
- He shares his self-taught engineering journey and efforts to lead space exploration through private enterprise.
- The video covers opposition from traditional space heroes to commercial space flight.
- Musk emphasizes the importance of perseverance despite repeated failures and near-death experiences for his companies.
- He explains the high standards required for rocket launches and the pressure to succeed on the first try.
- The narrative includes Musk’s visits to Russia to acquire rocket technology and his resolve to never give up.
- He stresses the need for sustainable energy, long-term space exploration, and inspiring goals for humanity.
- The video concludes with Musk’s vision of humanity as a spacefaring civilization and the importance of dreaming big.
Chapters
- 00:00Elon's Unique Mindset and Early Realizations
- 01:28Skepticism About Private Space Enterprise
- 02:53Opposition from Space Heroes to Commercial Flight
- 04:13Financial Struggles and Near-Death Experiences
- 05:25Balancing Tesla and SpaceX Funding
- 06:30Rocket Launch Challenges and Failures
- 07:30Self-Taught Engineer and Russian Rocket Trips
- 08:36Facing Failure and Naivety in Building Companies
- 10:01Leadership and Company Culture at Tesla and SpaceX
- 12:38Vision for Humanity's Future and Space Civilization
Full Transcript — Download SRT & Markdown
Speaker A
So when everybody leaves, it's just Elon sitting at home brushing his teeth, just a bunch of ideas bouncing around your head. When did you realize that that's not the case with most people? I think when I was, I don't know, five or six or something. I thought I was insane. It was just strange because it was clear that other people do not. Their mind wasn't exploding with ideas. It was like, hmm, I'm strange. I don't think, I don't think
Speaker A
five or six or something I thought I was insane it was just strange because it was clear that other people do not their mind wasn't exploding with [Music] ideas it was like hm I'm strange I don't think I don't think
Speaker A
You'd necessarily want to be me. People would like it that much. It's very hard to turn it off. It's like a never-ending explosion all the time. Now is the time to overrule this administration's pledge to mediocrity. Listen, Tesla is sell, sell, sell. You don't
Speaker A
want to own this stuff you shouldn't even rent the darn thing why because beyond the hype there's just not much going on here Tesla still has yet to turn a profit that' be a $ 1.5 billion company with no profit it's most recent
Speaker A
Want to own this stuff. You shouldn't even rent the darn thing. Why? Because beyond the hype, there's just not much going on here. Tesla still has yet to turn a profit. That'd be a $1.5 billion company with no profit. Its most recent
Speaker A
and Fisker and Tesla and won I mean I had a friend who said you don't just pick the winners and losers you pick the losers private Enterprise will not ever lead a space Frontier not cuz I don't want them to but my read of history
Speaker A
Quarter actually lost more money than it did the year before. $1.5 billion losing more money than year before. This is a company with limited visibility. You put 90 billion like 50 years worth of breaks into solar and wind to Cylindra
Speaker A
that I was very sad to see that uh because those guys are yeah you know those guys are heroes of mine so it's really tough you know I I wish they would come and visit and and see the hardware that we doing camp and
Speaker A
And Fisker and Tesla and one. I mean, I had a friend who said you don't just pick the winners and losers. You pick the losers. Private enterprise will not ever lead a space frontier, not 'cause I don't want them to, but my read of history
Speaker A
trying to prove to them what I'm trying to do is is to make a significant difference in in space flight and and and help make space flight accessible to to almost anyone one of the most difficult choices I have ever faced uh
Speaker A
History tells me they can't. It's not possible. You know, there are American heroes who don't like this idea. Neil Armstrong, Jean Cernan have both testified against commercial space flight in the way that you're developing it, and I wonder what you think of
Speaker A
definitely die um or split it between the two companies and but if I split it between the two companies then both might die um and you when you put your Blood Sweat and Tears into creating something or building something it's like a child
Speaker A
That. I was very sad to see that, uh, because those guys are, yeah, you know, those guys are heroes of mine. So it's really tough, you know. I, I wish they would come and visit and see the hardware that we doing camp and
Speaker A
through what was your biggest failure and how did it change you well there's a ton of failures along the way that's for sure as I said for for SpaceX the first three launches failed and uh we just barely able to scrape together enough
Speaker A
And I think that would change their mind. They inspired you to do this, didn't they? Yes. And to see them casting stones in your direction, it's difficult. Did you expect them to cheer you on? Solely hoping they would. What are you
Speaker A
essentially the company was bleeding money like crazy and and just if if we didn't solve these problems in a very short period of time uh we would die uh and it was extremely difficult to solve them how close to death did you come we
Speaker A
Trying to prove to them? What I'm trying to do is to make a significant difference in space flight and help make space flight accessible to almost anyone. One of the most difficult choices I have ever faced
Speaker A
I'd like to buy two of your biggest Rockets uh but you can keep the nuke they thought I was crazy but but I did have money so that was that was okay uh um and after making several trips to to
Speaker A
In life was in 2008, and I think I had like maybe $30 million left or $30 or $40 million left in 2008. I had two choices. I could put it all into one company and then the other company would
Speaker A
plenty of will particularly in the United States uh because the United States is a nation of explorers of people who came here from from other parts of the world and I think the United States really a dist distillation
Speaker A
Definitely die, or split it between the two companies, but if I split it between the two companies, then both might die. And when you put your blood, sweat, and tears into creating something or building something, it's like a child,
Speaker A
against the advice of pretty much everyone I talked to uh think it was it was tough going there in the beginning um because I'd never built anything physical I mean i' built like little model rockets as a kid and that kind of
Speaker A
And so it's like, which one am I going to let one starve to death? I couldn't bring myself to do it, so I put, I split the money between the two. Fortunately, thank goodness, they both came
Speaker A
tough going um because thing about a rocket is that the the passing grade is 100% you you don't get to actually test the rocket in the real environment that it's going to be in so I think to the
Speaker A
Through. What was your biggest failure and how did it change you? Well, there's a ton of failures along the way, that's for sure. As I said, for SpaceX, the first three launches failed, and we just barely were able to scrape together enough
Speaker A
the first time you put it all together and run it on that computer it must run with no bugs the first launch I was picking up bits of Rocket near the near the launch site it was a bit
Speaker A
Parts and money to do the fourth launch. That fourth launch had failed, we would have been dead. So multiple failures along the way. Tesla really faced a severe threat of death due to the Model 3 production ramp.
Speaker A
in for for SpaceX I tried hard to to find a great uh chief engineer for the rocket but it not the good Chief engineers wouldn't join and the bad ones well there was no no point in hiring them so I ended up being chief engineer
Speaker A
Essentially, the company was bleeding money like crazy, and just if we didn't solve these problems in a very short period of time, we would die, and it was extremely difficult to solve them. How close to death did you come? We
Speaker A
background that's helpful as a foundation um and then I read a lot of books and talked to a lot of lot of smart people you're selftaught yeah well well selftaught yes meaning um I didn't I don't have an
Speaker A
Are within single-digit weeks. I went to Russia three times to look at buying a refurbished ICBM, and I can tell you it was very weird going there in 2000, late 2012, 2002, going to the Russian rocket forces and saying
Speaker A
a row did you think I need to pack this in never why not I don't ever give up I mean I'd have to be dead or completely incapacitated so many people try to talk me out of starting a ride company it was
Speaker A
I'd like to buy two of your biggest rockets, but you can keep the nuke. They thought I was crazy, but I did have money, so that was okay. And after making several trips to Russia, I came to the conclusion that my initial thought was, well, that
Speaker A
how did you figure you were going to start a car company and be successful at it 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
Speaker A
There's not enough will to explore and expand beyond Earth and have an Mars base and that kind of thing, but I came to the conclusion that that was wrong. In fact, there's
Speaker A
try even if they probable outcome is failure were you a little naive when you thought I just I can easily build build an electric car and and a rocket I didn't think it would be easy um I like I said I thought they would
Speaker A
Plenty of will, particularly in the United States, because the United States is a nation of explorers, of people who came here from other parts of the world, and I think the United States really is a distillation
Speaker A
take care of it even if it it ruins you yeah but uh I suppose there was some tough times in uh 2008 end of 2008 how did you get through that period of Crisis yeah can we just break for a second sure sure
Speaker A
Of the spirit of human exploration. So after my third trip, I said, okay, what we really need to do here is try to solve the space transport problem and started SpaceX, and this was
Speaker A
tells you this is a crazy idea or where do you get the internal strength to do that well first of all I'd say I I actually think I I think I fear feel fear quite strongly um so it's not as
Speaker A
Against the advice of pretty much everyone I talked to. I think it was tough going there in the beginning because I'd never built anything physical. I mean, I built like little model rockets as a kid and that kind of
Speaker A
shouldn't think well I feel a fear about this and therefore I shouldn't do it um it's normal to to feel fear like you'd have to have to do something mentally wrong if you didn't feel fear particularly if you're starting a
Speaker A
Thing, but I'd never had a company that built anything physical, so I had to kind of figure out how to do all these things and bring together the right team of people. It was tough,
Speaker A
um and we we showered at the the YMCA and uh we're we're so hot up we had just one computer so the the the the website was up during the day uh and I was coding at night 7 days a week all the
Speaker A
Tough going, because the thing about a rocket is that the passing grade is 100%. You don't get to actually test the rocket in the real environment that it's going to be in. So I think the
Speaker A
thing I would I would say if if you particularly if you're starting a company and I mean if you do the simple math say like okay if somebody else is working 50 hours and you're working 100 uh you'll get twice as done as much done
Speaker A
Best analogy for rocket engineering is like if you want to create a really complicated bit of software, you can't run the software as an integrated whole, and you can't run it on the computer it's intended to run on. The first time you put it all together and run it on that computer, it must run with no bugs. The first launch, I was picking up bits of rocket near the launch site. It was a bit
Speaker A
because people are tend to a natural human tendency is wishful thinking um so a challenge for entrepreneurs is to say well what's the difference between really believing in your ideals and sticking sticking to them versus pursuing some unrealistic dream that
Speaker A
Sad, but we learned with each successive flight and were able to, eventually with the fourth flight in 2008, reach orbit. I tried very hard to get the right expertise
Speaker A
analysis and then just work like hell I mean you just have to put in you know 80 hour 80 to 100 hour weeks every week all those things improve the odds of success I think it's important that you
Speaker A
In for SpaceX. I tried hard to find a great chief engineer for the rocket, but the good chief engineers wouldn't join, and the bad ones, well, there was no point in hiring them. So I ended up being chief engineer
Speaker A
to even if you're if you're the best the best there's always a chance of failure and and if you don't like it you just really can't make it work I think if you're creating a company or if you're
Speaker A
Of the rocket. So if I could have found somebody better, then we would have maybe had less than three failures. How did you get the expertise to be the chief technology officer of a rocket ship company? Well, I do have a physics
Speaker A
people I mean all a company is 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 thee to which they are focused uh cohesively in
Speaker A
Background. That's helpful as a foundation, and then I read a lot of books and talked to a lot of smart people. You're self-taught? Yeah, well, self-taught, yes, meaning I didn't, I don't have an
Speaker A
confused they they spend money on things that don't actually make the product better so for example at at Tesla we've we've never spent any money on appetizing um we we put all of the money into R&D and and Manufacturing and
Speaker A
Aerospace degree. So how did you go about acquiring the knowledge? Well, like I said, I read a lot of books, talked to a lot of people, and have a great team. When you had that third failure in
Speaker A
resulting in a better product or service and if they're not stop those efforts don't don't just follow the trend so um you may have heard me say that it's good to think in terms of the physics approach of first principles uh which
Speaker A
A row, did you think I need to pack this in? Never. Why not? I don't ever give up. I mean, I'd have to be dead or completely incapacitated. So many people tried to talk me out of starting a ride company. It was
Speaker A
everybody else is doing it's hard to think that way you can't think think that way about everything takes a lot of effort uh but if you're trying to do something new it's the best way to think um and that framework was developed by
Speaker A
Crazy. What did they tell you? One good friend of mine collected a whole series of videos of rockets blowing up and made me watch those. They just didn't want me to lose all my money.
Speaker A
don't you don't have you don't have kids as you get older your obligations increase so you the and once you have a family you start taking risk not just for yourself but for your family as well it gets much harder to uh do things that
Speaker A
How did you figure you were going to start a car company and be successful at it? 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
Speaker A
whatever you do when when I was a kid I was wondering kind of what's the meaning of life like why are we here what's it all about and um I came to the conclusion that uh what what really
Speaker A
Perception that people had that an electric car had to be ugly and slow and boring like a golf. But you say you didn't expect the company to be successful. Then why try? If something's important enough, you should
Speaker A
things that are necessary to ensure that the future is good um and uh some of those things are in the long term having long-term sustainable transport and sustainable energy generation um and uh to be a space bearing civilization and for Humanity to
Speaker A
Try, even if the probable outcome is failure. Were you a little naive when you thought, I just, I can easily build an electric car and a rocket? I didn't think it would be easy. Like I said, I thought they would
Speaker A
of like life insurance for Life collectively Life as we know it um but then the part that I find personally most motivating is that it creates a sense of adventure and it makes people excited about the future um and if you consider two Futures one
Speaker A
Probably fail, but you know, like creating a company is almost like having a child, so it's sort of like how do you say your child should not have food, so one onc
Speaker A
give you Joy so rare So Rare I wish there were more things that's what we're try to do just make things that somebody loves I think that second version is incredibly exciting and inspiring and there need to be reasons
Speaker A
to get up in the morning you know life can't just be about solving problems otherwise what's the point there got to be things that people find inspiring U and make life worth living the universe as we know it will
Speaker A
dissipate into a fine mist of cold nothingness eventually I don't want to sound like like things are too dark because I think like you kind of have to be optimistic about the future there's no point in being pessimistic it's just too negative
Speaker A
doesn't help you know I think you want to be I mean my theory is like I'd rather be optimistic and wrong than pessimistic and right like what are the set of things that can be done to make the future
Speaker A
better I think that a future where we are a space fairing civilization and out there the Stars this is very exciting this makes me look forward to the future this makes me want that future there need to be things that make
Speaker A
you look forward to waking up in the morning you wake up in the morning you look forward to the day forward to the future a future where we are a space fairing civilization and out there Among the Stars I think that's very exciting
Speaker A
that is a thing we want whereas if if you knew we would not be a space Fring civilization but forever confined to Earth this would not be a good future that would be very sad I think if there are two futurist and one
Speaker A
futurist we're out there among the stars and the things we read about and see in science fiction movies the good ones are true we have these starships and we're we're going to see what other planets are like and we're a multiplet
Speaker A
species and the scope and scale of Consciousness is expanded across many civilizations and many planets and many stars our systems this is a great future this is a wonderful thing to me and that's what we should strive for people look like they have a much
Speaker A
better life than they really do people are posting pictures of when they're really happy they're modifying those pictures to be better looking um even if they're not modifying the pictures they're at least selecting the pictures for the best lighting the best angle so
Speaker A
people basically seem a they're way better looking than they basically really are um and they're way happier seeming than they really are so if you look at everyone on Instagram you might think man they're all these happy beautiful people and I'm not that goodl
Speaker A
looking and I'm not happy so I'm must suck you know and that's going to make feel sad when in fact those people you think are super happy actually not that happy some of them are really depressed they're very sad some of the happiest
Speaker A
seeming people actually some of the saddest people in reality so I think I think things like that can make people quite sad this may sound corny but love is the answer wouldn't hurt to have more love in the
Speaker A
world I think you know I think people should be nicer to each other and give people and give give more credit to others and don't don't assume that they're mean until you know they're actually mean you know just it's easy to
Speaker A
demonize people you're usually wrong about it people are nicer than you think give people more credit
Topics:Elon MuskmotivationSpaceXTeslaentrepreneurshipfailureperseverancespace explorationelectric carsinnovation











