Video: A Look Back – Elon Musk Opens Up About Shaky Start At Both SpaceX And Tesla, Recalls Borrowing Money To Pay Rent
Elon Musk knows first hand that is not easy getting a new start-up off the ground, let alone two; and that is even if you were very successful at your previous venture (Paypal).
The Tesla CEO talks quite frankly to USA Today about 3 fairly high profile failures at his other start-up, SpaceX; that if a fourth would have occurred, it would have been the end of the project.
At the same time, Mr. Musk was have trouble finding seed money for his new electric car company, Tesla.
“The financing round feel apart, because people didn’t have any money, and I basically had to take all of my remaining cash and invest it in Tesla, and in fact I ended up borrowing money just to pay rent.”
The gamble of course paid off, but to hear Mr. Musk tell the story, it was far from a sure thing. The piece ends with CEO talking about the future of automobiles, and a trip to Mars.
via USA Today