Isaac Felchle

Entr 101

Sheila Hanson

5/1/2024

Elon Musk

When you think of a famous entrepreneur who do you think of? This is a very bland question

because over the years there have been millions of entrepreneurs. Undoubtedly, the world of

entrepreneurship is extensive and diverse, filled with personalities who have permanently

impacted industries, societies, and the worldwide terrain. Elon Musk is a name that frequently

comes to mind when discussing well-known entrepreneurs. His entrepreneurial trajectory is truly

amazing, marked by ambitious vision, unwavering invention, and a desire to always push the

envelope of what's obtainable.

Musk

Elon Musk grew up with a quick mind and a never-ending thirst for knowledge that

would later play a role in his business ventures. Musk, who was born in Pretoria, South Africa,

on June 28, 1971, showed an early interest in computers. He taught himself to program and

explored the realm of technology. His curiosity drove him to read books on a wide range of

topics, fueling a burning desire to comprehend how the universe functions. Musk did not,

however, have an easy childhood. At a young age he was often made fun of and bullied at school.

Although most children would have a hard time powering through times like this Musk was
different, he instead started devoting himself to his studies and forging a strong character that

would serve him well in the future. These early experiences gave Musk a strong foundation for

his future pursuits by inspiring him to innovate, strive for perfection, and have an incredible

desire to change the world for the better.

After beginning his studies at Queen's University in Kingston, Ontario, Musk transferred

to the University of Pennsylvania in Philadelphia in 1992. There, he pursued dual bachelor's

degrees in physics and economics, completing his studies in 1997. Despite his academic

achievements, Musk's curiosity and forward-thinking mindset led him to enroll in Stanford

University's graduate program in physics in California. However, his time at Stanford was brief.

Just two days into the program, Musk made the choice to be done, he believed that the internet

had more learning opportunities for his academic pursuits. This controversial decision shows

many ways of the13 Entrepreneurial competencies and his readiness to deviate from

conventional paths in pursuit of groundbreaking opportunities. For example, he showed huge

decision making and creativity by doing something new. College is greatly pushed on everyone,

and he saw the opportunity to do bigger and better things.

Several years later in 1995, Musk began his first venture. He began creating Zip2, this

was an online computer software that offered a searchable business directory that resembled an

online version of the phone book with maps, like the yellow pages. In the early years of his

venture, he decided to bring on his brother Kimbal Musk, and a friend, Gregory Kouri, as

partners. In 1995 Musk successfully convinced Navteq, a provider of electronic navigable maps,

to provide him with free mapping software. He then developed the necessary code to integrate

the two databases—business listings and maps. Musk expressed the company's mission as

providing directions to easily locate the nearest pizza parlor and navigate there effortlessly. Due
to difficulties obtaining funding from investors, Musk and his associates took a cautious attitude,

living at their office to save costs. Doing this showed a tremendous amount of dedication and

initiative.

After a year or so of perseverance, Mohr Davidow Ventures finally decided to invest

about $3 million in Zip2, taking a majority stake. This was in the early months of 1996. After

that, Musk became executive vice president and chief technology officer, and Richard Sorkin

took over as CEO because he had more business expertise.

Under Sorkin's guidance, Zip2 broadened its offerings by extending its platform to

newspapers, empowering them to establish local directories for their online subscribers. The

early adoption by credible publications such as The New York Times sparked the interest of

numerous other major newspapers and newspaper chains. Zip2 also introduced an arts and

entertainment guide, along with tailored directories for various business sectors. However, Musk

found himself disagreeing with Sorkin's strategic direction. When Sorkin orchestrated a merger

between Zip2 and CitySearch in 1998, Musk led a group to remove Sorkin as CEO. Derek

Proudian assumed leadership thereafter. After Zip2 went on for a few years it was eventually

renamed into what is now known as PayPal.

Musk then decided to start investing his studies into space. At first, Musk envisioned

sending a greenhouse known as the Mars Oasis to Mars. His aim was to generate public interest

in exploration while also establishing a scientific outpost on Mars. However, the project

ultimately proved too costly to pursue. However, after receiving $175 million when eBay bought

PayPal in 2002, To produce rockets at a lower cost he put $100 million into his new idea, and he

established Space Exploration Technologies (SpaceX). By 2006 Musk had around 160

employees and over $250,000 million in funding by NASA. His first Rocket that he began to
design was the Falcon 1, However he had multiple setbacks, and this was not going his way.

After 3 failed attempts at launching his first rocket many believed that he would fail. However,

Musk stayed determined and showed commitment to his goal. 2 years later he signed a contract

with NASA for $1.6 billion. His studies continued for many months, and he finally was

successful with the Falcon 1. The Falcon 1was a two-stage liquid-fueled spacecraft designed for

launching small satellites into orbit. It stood out from its competitors, due to its notably lower

construction and operational costs. The affordability of the rocket was largely attributed to the

SpaceX-developed Merlin engine, which offered a more economical option compared to engines

utilized by other companies. It also stood out because of the reusable rockets which was another

huge save on money.

Another significant achievement for the business came in December 2010 when it

launched the Dragon capsule into orbit and brought it safely back to Earth, making it the first

private enterprise to do so. On May 25, 2012, Dragon created history once more when it was the

first commercial spaceship to dock with the International Space Station and successfully

transferred cargo. That August, SpaceX declared that it had been awarded a contract by NASA to

design a space shuttle replacement that would carry people into space

The next more recent achievement the Elon Musk and SpaceX contributed to is the

Starlink. The satellite network known as Starlink was created by SpaceX, a commercial

spaceflight business, to offer affordable internet to isolated areas. The Starlink has a lifespan of

around 5 years and as of April 2024, there are 5,874 Starlink satellites in orbit, of which 5,800

are operational, according to Astronomer Jonathan McDowel. According to a recent CNBC

article “Starlink’s importance to SpaceX overall as a company is imperative. Euroconsult

estimates that, optimistically, by the end of 2023, this business of Starlink could represent
upwards of 40% of SpaceX’s overall business. This total would be somewhere more than $3

billion generated from Starlink,” Prokosh says.

Although SpaceX started only a little over 20 years ago it has grown to be a billion-dollar

company already and has potential to be one of the biggest space contributors of all time. The

journey of SpaceX over the years has had remarkable success, SpaceX has grown from its

humble beginnings as a startup company with the goal of improving space exploration to become

a leading force in the aerospace sector. Under the bold vision of Elon Musk, the business has

accomplished many ground-breaking firsts, such as the successful launch and recovery of

spacecraft and the development of reusable rocket technology. All these accomplishments that

Musk has had through just this one venture that started as a dream could not have been done

without showing multiple of the 13 entrepreneurial competencies.

After listing off all these accomplishments that this great entrepreneur has had you would

think that that is it, but Musk is no ordinary human, and he is always looking to improve our

future. Musk did not settle with just these few accomplishments that he made, he also started

investing his earnings from his other ventures into Tesla (TSLA).

Tesla began July first, 2003, Tesla’s mission has been to accelerate the world's transition

to sustainable energy. Based in Austin, Texas, Tesla, Inc. is a well-known American business

with a focus on renewable energy and automotive technologies. It is well known for designing,

producing, and selling battery-electric cars in addition to large-scale stationary battery energy

storage systems, solar panels, solar shingles, and related goods and services. Tesla was one of the

first companies to get into electric vehicles and is known as one of the most successful today.

What this company valued and was getting into clearly stood out to Musk and he was determined

to be a part of it. In the beginning Elon started out as just an investor in Tesla, this started in
2004 when he invested over $2.6 million into the company becoming the chairman of the board

of directors. Musk was then appointed as the CEO of Tesla in 2008.

Months later in 2008, Tesla introduced its first product to the market, the Roadster sports

car. This was one of the first all-electric sports cars and shocked the market with its performance.

In corporate tests, it traveled 245 miles on a single charge, an unmatched range for a production

electric vehicle. Further testing revealed that the Roadster's performance was on par with many

sports vehicles fueled by gasoline: it could accelerate from 0 to 60 miles per hour in less than

four seconds and achieve a top speed of 125 miles per hour. The car's lightweight carbon fiber

body was constructed. Since the Roadster didn't have an internal combustion engine, it didn't

emit any exhaust emissions. According to Tesla Motors, the vehicle achieved efficiency ratings

that equaled around 135 miles per gallon of gasoline.

After the first product that the company released, they had very high expectations. When

it came to the new Model S sedan, which was highly praised by car journalists for both its

performance and design, Tesla halted the manufacture of the Roadster in 2012 to begin working

on the new options which were the Model S, Model 3, and model Y. There were three battery

options available, with projected ranges of 235 or 300 miles. The Model S's battery system was

located beneath the floor, as opposed to the Roadster's, which was located at the rear of the

vehicle. This arrangement allowed for more rear storage and better handling due to the Model S's

low center of gravity. Later Tesla models also adopted this arrangement. Another very intriguing

feature that they began working on in these new models was the autopilot. The autopilot is

intended to have a fully attentive driver who has hands on the wheel and is fully ready to take

over if needed. With the addition of new technology that makes driving safer and less stressful,
Autopilot is a package of driver assistance functions that may be added to your Tesla at any time

after it is delivered. Feature options for Autopilot vary by model, trim level, and year.
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