Everyone making the world better. One person

Everyone around the world wants to change the world or make the world better;
however, not everyone contributes to the idea of making the world better. One
person who took matters into their own hands to bring change and revolution to
the world is Elon Musk. Musk, an entrepreneur, is credited with developing
PayPal, Tesla, SolarCity, and SpaceX, along with helping other companies. In
the documentary, Elon Musk: How I Became the
Real ‘Iron Man’ by Bloomberg Television shows how Musk became a successful
entrepreneur and businessman.

In the documentary, Elon Musk has a strong ambition to bringing change to
the world. At the age of 12, he sold his own video games, which he built by himself.
When Musk got older, he earned a degree in physics and business and was offered
a scholarship to go to Stanford University. He dropped out of Stanford University
to launch his first company, Zip2, which altered the newspaper industry. The
company was successful and was purchased by the Compaq Computer Corporation for
307 million dollars in cash and 34 million dollars in stock options. Then, he
created x.com, the first online financial service and online payment service,
which later transformed into PayPal because it had money transfer services.
Then, Musk discovered SolarCity, a company which was installing solar panels on
residential and commercial roofs to produce electricity. Musk also had interest
in going to Mars, so he founded SpaceX, the first privately owned space
exploration company. Slowly, he was drifting into the motor industry to create
an electrical car, which would be called the Tesla. Elon Musk’s great ambition
to change the world made him an entrepreneur.

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In Elon Musk’s life, there were a couple of phases that lead to him
becoming a great entrepreneur. From early childhood, he was reading many books
and educating himself.  When he was
taking computer courses in school, he already knew more than teacher would teach
so he created a game called Blastar. At the age of 12, he was thinking as an entrepreneur,
and took the opportunity to make a profit by selling his game to a computer
magazine for $500. Later, he went to earn a degree at Stanford University, but
he wanted to take advantage of the dot-com boom. His reason for dropping out
was that a person can always go back to school. So, he took advantage of the dot-com
boom and provided an online city guide to newspaper and magazine companies, known
as Zip2. To run this company, Musk sacrificed tremendously; he did not have a
home, stayed at his office, and took showers at the YMCA. Eventually, Zip2 was
offered a buyout by the Compaq Computer Corporation, leading him to sell them
his company. After making a profit, he revolutionized the financial market by
creating X.com, better known today as PayPal. He invested 10 million dollars of
profit from Zip2 into X.com. Musk saw that there was no change in how banks
keep the data on bank transactions and transfers, so he took the opportunity to
create algorithms that make banking transactions and transfer easier for the customer.
When he was creating this payment service, he had to advertise tremendously to
attract a lot of customers. He ended up selling PayPal to eBay for 1.5 billion
dollars in stock and 180 million dollars in cash.

Now, Elon Musk was changing gears from software development, to the auto
industry, solar electricity, and exploration of space. In 2002, Musk pursued
the goal of sending humans to Mars. His first mission was to place a greenhouse
lander on the Martian surface to establish life, as well as to gain interest
from investors. The lander was cheap to build, but rocket manufacturers in the
United States were charging him so much money. Musk ended up buying a
refurbished Dnepr missile from Russia. He was also concerned about the rocket
being too expansive, so he dived his SpaceX project into two goals: to make
spaceflight monotonous and cheaper, and to make humans-planet species. He was
taking off-the-shelf technology that was created by NASA 50 years ago, and
streamlining it. Another project Musk worked on was SolarCity; Musk helped his
cousin start that project, while becoming its largest shareholder. They developed
a solar lease plan that let people put solar panels on their roof with no money
down and started saving instantly. It was a money-losing business in its early
years. Later, he got into the auto industry, where he faced a tremendous amount
of difficulty. He joined Tesla industry as a chairman and oversaw all the
production of the Tesla Roadster but was not deeply involved. The whole idea of
the Tesla Roadster was to create an electronic car that was like a Ferrari and
attract outliners. According to many experts, around 2006, there was little
progression in the auto industry and it was unusual for a company to come up
with an electric car. In 2007, Tesla’s projectile was increased, and they were
running out of money fast. He had to replace CEO Martin Eberhard and Musk
became the new CEO.  

In 2008, all Musk’s corporations were facing recession. Tesla kept losing
a lot of money, SpaceX was having trouble launching its rocket, and the bank that
had an agreement with SolarCity backed out. At the same time, the United States
was facing a recession and companies’ stock was collapsing. Elon Musk’s
strategy of getting by this recession time was to shut down everything that was
not being used, and to figure out a way to go through the tough time without
getting bankrupt.  At the end of 2008, he
had his first rocket launch successfully; however, he did not have time to
celebrate because he had to save Tesla. The way he saved Tesla was that he
invested all his reserve capital into the company. Other members and co-workers
got encouraged to be part of this great investment, so they also invested some
money. After Musk and his employees invested money, many other companies also
started to invest in Tesla. The United States government was willing to loan
Tesla money, but they had to find a place to build their electric car. While
his spending of Tesla company is still increasing, he took a lot of risk by
buying an abandoned Toyota plant to get his car production going. In 2009, Musk
introduced the Model S and then later, the Model X car, priced between 60,000 and
150,000 dollars. In 2010, Musk took his car company public, where he raised
about 200 billion dollars. Now, millions of people across the country want to
buy a Tesla. After a couple of years, Tesla had paid off government loans and
interest. Moreover, SolarCity made a deal with the military to install solar
panels and other industry and gain lot of profits.

  Elon Musk’s great enthusiasm for
changing the world lead him to invent innovative technology and explore
opportunities beyond Earth. His main strategy has been to follow the dream and
take risks in life. This strategy is important for people who want to become
successful entrepreneurs and businessmen. His dream was simple, he wanted to
change world, so he started by developing a online mapping system for newspapers
and magazines, then created an online financial system called PayPal that
revolutionized the internet world. Later, he shifted towards space exploration,
creating an electric car, and solar energy, which he had no knowledge of. He
gained knowledge of those industries by reading lots of books, experimenting,
and risking his capital. He is one of the most risk-taking and multitasking entrepreneurs
that will take humans into the new era.