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Originally Posted by JSH
The funny thing is that Musk doesn't have a history of making hugely successful businesses either. His big claim to fame is PayPal. Except Musk didn't create PayPal or turn it into a success.
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You're still determined to undermine his success for no clearly obvious reason to me other than you dislike successful people, or at least dislike successful people that behave like Musk. He started a company with his brother called Zip2 on a $28,000 startup budget and sold the company for $307,000,000, pocketing $22,000,000. He was already rich as he co-founded a company that was integral to Paypal.
Most people that come across $22M would instantly become couch potatoes and squander their wealth on extravagance. After Musk made $180M from the sale of Paypal, he invested most of that into his businesses, placing nearly all of his fortune at risk of loss. He could have just bought a yacht and sailed the world the rest of his life, as most Americans would.
So rather than continue to speculate why you wish to misrepresent Musk, and seem to despise the guy, I'll eagerly await your own reasons for misrepresenting him and downplaying his impact on the world.
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Musk is an ideas guy not an operations guy that takes the idea and turns it into a profitable business. His mismanagement of Tesla continues to prove this day after day.
None of Musk's companies since X.com has been successfully if you use the standard business definition of success - making money for shareholders.
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Agreed. His need to micromanage his ideas are one of his weaknesses. Though he's likely a brilliant guy, that overconfidence in his own abilities doesn't allow him to trust control with others who are expert in their respective fields. *Entirely my speculation having not researched Musk in depth.
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You did not say Musk is "betting it all"; that was hamsterpower. Which is why I pointed out to hamsterpower that Musk is betting with other people money. Which is a pretty fair statement when Musk has put in less then 1% of the capital invested in Tesla.
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You don't measure the bet based on everyone else's cumulative bet. If you spent nearly all of your wealth on lottery tickets, and that represented an infinitely small portion of the overall lottery ticket purchases, it would still be true that you're nearly all in. While "betting it all" is not exactly accurate, he bet the vast majority of his personal fortune on his ideas, which gives some credibility as to his passion and belief in those ventures.
Everyone else voluntarily placed their bets too. Investor beware. The potential for high gain often comes with the potential of great loss.