Elon Musk’s Quotes On How To Get Rich & Successful

when something is important enough you do it even if the odds are not in your favor what makes innovative thinking happen i think it's really a mindset you have to decide [Music] a company is a group of organized to create product or service and it is only as good as its people and how excited they are about creating i do want to recognize a ton of super talented people i just happen to be the face of the companies i've actually not read many books on time management i would just question things it would infuriate my parents that i wouldn't just believe them when they said something because i'd ask them why and then i'd consider whether that response made sense given everything else i knew [Music] it's okay to have your eggs in one basket as long as you control what happens to that basket [Music] the first step is to establish that something is possible then probably it will occur when henry ford made cheap reliable cars people said nah what's wrong with a horse that was a huge bet he made and it worked [Music] my biggest mistake is probably weighing too much on someone's talent and not someone's personality i think it matters whether someone has a good heart i wouldn't say i have a lack of fear in fact i'd like my fear emotion to be less because it is very distracting and fries my nervous system i say something and then it usually happens maybe not on schedule but it usually happens [Music] i think it's very important to have a feedback loop where you're constantly thinking about what you've done and how you could be doing it better [Music] some people don't like change but you need to embrace change if the alternative is disaster i don't spend my time pontificating about high concept things i spend my time solving engineering and manufacturing problems people should pursue what they are passionate about that will make them happier than pretty much anything else [Music] as much as possible avoid hiring mbas mba programs don't teach people how to create companies [Music] it's very important to like the people you work with otherwise life and your job is gonna be quite miserable if you're trying to create a company it's like baking a cake you have all the ingredients in the right proportion [Music] people work better when they know what the goal is and why it is important that people look forward to coming to work in the morning and enjoy working i'm interested in things that change the world or that affect the future and wondrous new technology where you see it and you're like wow how did that even happen how is that possible brand is just the perception and perception will match reality over time sometimes it will be ahead other times it will be behind but brand is simply a collective impression some have about a product [Music] there are really two things that have to occur in order for new technology to be affordable to the mass market one is you need economies of scale the other is you need to iterate on the design you need to go through a few versions [Music] when somebody has a breakthrough innovation it is rarely one little thing very rarely is it one little thing it's usually a whole bunch of things that collectively amount to a huge innovation [Music] it is a mistake to hire huge numbers of people to get a complicated job done numbers will never compensate for talent in getting the right answer two people who don't know something are no better than one will tend to slow down progress and will make the task incredibly expensive [Music] i do think there is a lot of potential if you have a compelling product and people are willing to pay a premium for that i think that is what apple has shown you can buy a much cheaper cell phone or laptop but apple's product is so much better than the alternative and people are willing to pay that premium [Music] i think the best way to attract venture capital is to try and come up with a demonstration of whatever product or service it is and ideally take that as far as you can just see if you can sell that to real customers and start generating some momentum the further along you get with that the more likely you are to get funding i don't believe in process in fact when i interview a potential employee and he or she says that it's all about the process i see that as a bad sign the problem is that a lot of big companies process becomes a substitute for thinking you're encouraged to behave like a little gear in a complex machine frankly it allows you to keep people who aren't that smart who aren't that creative if something has to be designed and invented and you have to figure out how to ensure that value of the thing you create is greater than the cost of the inputs then that is probably my core skill i always have optimism but i'm realistic it was not with the expectation of great success that i started tesla or spacex it's just that i thought they were important enough to do anyway work like hell i mean you just have to put in 80 to 100 hours every week this improves the odds of success if other people are putting in 40 hour work weeks and you're putting in 100 hour work weeks then even if you're doing the same thing you know that you will achieve in four months what it takes them a year to achieve [Music] you