Elon Musk, co-founder of PayPal and founder of Tesla Motors and SpaceX, on how entrepreneurs can get started disrupting major industries like energy, transportation and space. It’s not an easy route to success, but “it’s about the important problems that have to be solved for humanity.” Had it been only about money, that would have ruled out space exploration and electric cars.
What’s the Big Idea?
For entrepreneurs who feel the same sort of passion and drive to tackle the world’s most pressing problems, Musk recommends starting an Internet company. “It would have been impossible for me to do electric cars and rockets right from the start.” Higher capital means higher barriers to entry. It’s why there’s not more innovation in space exploration. A better way to get into these sorts of industries is to have a successful, but smaller-scale, company first.