Elon Musk says Tesla & SpaceX were two of his dumbest business ventures
Elon Musk, CEO of Tesla Motors and SpaceX, has said that making rockets and electric cars were two of the 『dumbest』 possible business ventures he got into.
Speaking in Austin, Texas, the technocrat said that he hunts for things that don』t seem to be working but are important for our life and future.
"If you were to do a risk-adjusted rate of return estimate on various industry opportunities, I would put building rockets and cars pretty much at the bottom of the list," USA Today quoted him.
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Talking about SpaceX, he said that he always wondered why we were not progressing the way we should have. 「I just kept wondering why we were not making progress towards sending people to Mars. Why we didn』t have a base on the moon. Where are the space hotels that were promised in the movie (2001: A Space Odyssey)?" he said.
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"Year after year, it was getting me down. ... The genesis of SpaceX was not to create a company but really how do we get NASA’s budget to be bigger.」
Today, though SpaceX is creating new milestones every day and has been securing government contracts at cheap rates, but it has seen its share of struggle as well. Multiple initial test flights of the rockets made by the startup went awry.
In 2008, the SpaceX and Tesla almost got bankrupt. "We closed our financing 6 pm Christmas Eve 2008, the last hour of the last day that it was possible," he explained.
「What’s your pain threshold?」 he asked. 「SpaceX is alive by the skin of its teeth. So is Tesla. If things had just gone a little bit the other way, both companies would be dead.」
However today, despite running in huge losses, the confidence of investors are with the company. Shares of Tesla are trading at a higher rate compared to last year.
本文來源：https://www.moneycontrol.com/news/business/elon-musk-says-tesla-spacex-were-two-of-his-dumbest-business-ventures-2534149.html
