4 ms·

There was a point after founding SpaceX and Tesla when Musk put all of his money into the companies; he had to borrow money from friends to make rent. This was

by nickff 11y ago

There was a point after founding SpaceX and Tesla when Musk put all of his money into the companies; he had to borrow money from friends to make rent. This was just after SpaceX had blown up its third rocket, with no money left for another try, while Tesla was losing money hand over fist because the roadster was selling at a loss. You can criticize Musk for many things, but he really does believe that his goals are achievable, that he will achieve them, and that they are good investments.

sandworm101 11y ago
>>> ...and that they are good investments. The really important dreams are rarely good investments. I don't think anyone seriously believes the manned exploration of Mars will turn any profit. A true believer wouldn't care. There are people who would hand over a dozen winning lotto tickets for a chance to go to Mars. Musk faces that decision every day. That makes it difficult for me to believe tales of his madman/dreamer rhetoric. And I'm not criticizing musk the person. I'm say that here is a disconnect between the public dreamer persona and the known actions of the physical person.
- nickik 11y ago
  Having a dream is not the same as beeing an idiot. For a Mars mission to have any change you need to improve on rocket technology, you need a strong space industry. You can not put all your money into one mission and crash into mars. Its a multiyear effort of building a sustainable the needed infrastucture and technology. Because of this approche Elon is different from others and its why he actually have a change of success.
- padiyar83 11y ago
  >>> .. I don't think anyone seriously believes the manned exploration of Mars will turn any profit. I think this will be the most profitable enterprise mankind has ever seen. A earth full of mineral wealth untouched, available for whoever can lay their hands on. If spaceX was trading today I would buy its stock in a blink and hold on to it for the next 50 years.
  - wesleyy 11y ago
    Mining on earth is basically free compared to what it would cost to mine on other planets.
wepple 11y ago
In fact, I'd be intrigued if you could name many other people who've made such a massive fortune and then risked bankruptcy over such ambitious ideas? The Gates and Zuckerbergs of this world are prepared to part their amassed fortunes, but only when they have no possible use for it (IE death)
- sandworm101 11y ago
  That's my point. Billionaires don't get to where they are by chasing outlandish dreams. There are people that sacrifice everything for a dream. They are usually the first people to climb a mountain or break an Olympic record. Or they join the church and serve the poor of india. Whatever money they have is dedicated immediately because money is always secondary.
  - LeifCarrotson 11y ago
    Yes, but to be the first person to climb a mountain takes tens of thousands of dollars of gear, extensive research, and lots of experience. Smart dreamers don't exit high school with that dream, make a hundred bucks at the drive-thru, and buy some rope and a few carabiners at the hardware store, see how high they can get that weekend, and repeat for decades. They re-invest their $100 until they can buy or commission the gear they need, gather experience on other mountains, and spend time learning about their target until they can make the climb.
    - sandworm101 11y ago
      Lol, take a look at climbers. The people doing new stuff are all nuts. Look at the guys who just died in Antarctica. Doing something new in the requires money. Just try launching an Antarctic expedition with less than a million. They spend family money, they spend student loans, they engage in borderline charity fraud. They leave wives and children at home, sometimes forever, just to put their names in a record book. Smart=careful, and careful people are rarely the first to do anything.
      - 11y ago

by nickff 11y ago

sandworm101 11y ago

>>> ...and that they are good investments. The really important dreams are rarely good investments. I don't think anyone seriously believes the manned exploration of Mars will turn any profit. A true believer wouldn't care. There are people who would hand over a dozen winning lotto tickets for a chance to go to Mars. Musk faces that decision every day. That makes it difficult for me to believe tales of his madman/dreamer rhetoric. And I'm not criticizing musk the person. I'm say that here is a disconnect between the public dreamer persona and the known actions of the physical person.

nickik 11y ago
Having a dream is not the same as beeing an idiot. For a Mars mission to have any change you need to improve on rocket technology, you need a strong space industry. You can not put all your money into one mission and crash into mars. Its a multiyear effort of building a sustainable the needed infrastucture and technology. Because of this approche Elon is different from others and its why he actually have a change of success.
padiyar83 11y ago
>>> .. I don't think anyone seriously believes the manned exploration of Mars will turn any profit. I think this will be the most profitable enterprise mankind has ever seen. A earth full of mineral wealth untouched, available for whoever can lay their hands on. If spaceX was trading today I would buy its stock in a blink and hold on to it for the next 50 years.
- wesleyy 11y ago
  Mining on earth is basically free compared to what it would cost to mine on other planets.

wepple 11y ago

In fact, I'd be intrigued if you could name many other people who've made such a massive fortune and then risked bankruptcy over such ambitious ideas? The Gates and Zuckerbergs of this world are prepared to part their amassed fortunes, but only when they have no possible use for it (IE death)

sandworm101 11y ago
That's my point. Billionaires don't get to where they are by chasing outlandish dreams. There are people that sacrifice everything for a dream. They are usually the first people to climb a mountain or break an Olympic record. Or they join the church and serve the poor of india. Whatever money they have is dedicated immediately because money is always secondary.
- LeifCarrotson 11y ago
  Yes, but to be the first person to climb a mountain takes tens of thousands of dollars of gear, extensive research, and lots of experience. Smart dreamers don't exit high school with that dream, make a hundred bucks at the drive-thru, and buy some rope and a few carabiners at the hardware store, see how high they can get that weekend, and repeat for decades. They re-invest their $100 until they can buy or commission the gear they need, gather experience on other mountains, and spend time learning about their target until they can make the climb.
  - sandworm101 11y ago
    Lol, take a look at climbers. The people doing new stuff are all nuts. Look at the guys who just died in Antarctica. Doing something new in the requires money. Just try launching an Antarctic expedition with less than a million. They spend family money, they spend student loans, they engage in borderline charity fraud. They leave wives and children at home, sometimes forever, just to put their names in a record book. Smart=careful, and careful people are rarely the first to do anything.
    - 11y ago