2024-12-02 11:51:27 :
Elon Musk, one of the most polarizing figures in tech, is adding a new political spin to his hat in 2024. After Donald Trump was re-elected, Musk was appointed to co-head the newly created Department of Government Effectiveness with Vivek Ramaswamy. This marked his transition from entrepreneurship to government service.
However, Musk’s path to success hasn’t always been easy. Walter Isaacson’s 2023 biography Elon Musk reveals key moments in his career. In 2000, Musk was CEO of X.com, the predecessor to PayPal, but was fired while traveling to Australia with his then-wife, Justine. According to Isaacson, Peter Thiel, Max Levchin, Reid Hoffman and David Dax orchestrated the effort to oust Musk.
Looking back on the incident, Musk said, “Thoughts of assassination crossed my mind,” but ultimately thought it was a blessing in disguise. “It’s great that I’m locked up. Otherwise, I’d still be toiling away at PayPal.” His faith? If he stayed, PayPal would be worth “a trillion dollars.”
Despite the chaos, Musk’s exit wasn’t entirely painful. He retained an equity stake, which earned him $250 million when eBay acquired PayPal in 2002 for $1.5 billion. The windfall laid the foundation for one of his most ambitious ventures: SpaceX.
Later that year, Musk founded SpaceX with the vision of enabling multi-planetary life. The early days were tough, with three failed Falcon 1 launches bringing the company to the brink of bankruptcy. The fourth attempt was a hit or miss, but funds were running out.
Enter Founders Fund, led by Peter Thiel and other former PayPal executives. Their $20 million investment gave SpaceX the lifeline it needed. Musk sees the support as “an interesting exercise in karma.”
The success of the fourth Falcon 1 launch in 2008 solidified SpaceX’s position in the aerospace industry. NASA soon awarded the company a $1.6 billion contract, pushing it to greater heights.
SpaceX is at the forefront of space exploration
Fast forward to 2024: SpaceX is now at the forefront of space exploration. NASA turned to Musk’s company for the critical mission of rescuing astronauts Sunita Williams and Butch Wilmore. Looking back on his journey, Musk compared PayPal’s expulsion to the assassination of Julius Caesar, but emphasized that avoiding pain pays off.
Musk told Isaacson, “If I let the initial reaction take over, space would be dead.” Instead, he now believes, “karma might be real.”
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