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Why Elon Musk Is Winning So Big
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- [music] So, in the beginning, when you start making money, you make maybe a $10,000 bet or $100,000 bet, maybe a million-dollar bet, and then you hope that that business might 10x or 100x over the next 10 years, whatever.
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Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00So, Elon just crossed 400 billion. He's the first person to do it. Reason made so much is that he's one of the only people who's ever made billion-dollar bets. [music] So, in the beginning, when you start making money, you make maybe a $10,000 bet or $100,000 bet, maybe a million-dollar bet, and then you hope that that business might 10x or 100x over the next 10 years, whatever. But, there are very few people that are billionaires >> [music] >> who then go all in at that point and try to maximize their return and risk losing everything once they're at that level.
0:29And Elon is one of those people. [music] And so, after he sold PayPal, he put a third of his cash into SpaceX, a third of his cash into [music] Tesla, and then a third of his cash into what was SolarCity. And then eventually was absorbed by Tesla. And he made a bet that was so big that no one else is willing to make those types of bets, but it's also why he has the results that no one else has been able to catch.