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Elon Musk's Basic Economics


Elon Musk's Basic Economics

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Economics 101: First Principles (the Elon Musk Method)

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In this video I discuss what it means to argue from first principles a concept I was first introduced to by Elon Musk (CEO of Tesla Motors and SpaceX), and then apply First Principles Logic to the field of economics. This video is intended for people looking to get started in Economics, but also for people who want to reevaluate their own understanding from a different perspective.

The First Principles Method Explained by Elon Musk

Interview by Kevin Rose

The benefit of first principles thinking? It allows you to innovate in clear leaps, rather than building small improvements onto something that already exists. Musk gives an example of the first automobile. While everyone else was trying to improve horse-drawn carriages, someone looked at the fundamentals of transportation and the combustion engine in order to create a car.

Naturally Musk does give one warning about using first principles for innovating however, it takes a lot more mental energy.

Elon Musk's Ultimate Advice for Students & College Grads - HOW TO SUCCEED IN LIFE

From 2 University Degrees to 20 Billion Dollars - This is Elon Musk's Ultimate Advice for high school students and college graduates. Can't find a job? Neither could billionaire Elon Musk.

After receiving a Bachelor of Science degree in physics from the University of Pennsylvania and a Bachelor of Science degree in economics from it's Wharton School of business, Elon Musk tried and failed to find a job at an internet company. He and his brother then decided to start a web software company called Zip2, and the rest is history!

Comment below if you are the next Elon Musk!

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First Principles: Elon Musk's Method of Thinking

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This video primarily covers First Principles Reasoning/Thinking.
For a video that talks more about First Principles click the link below:

After graduating College in 2016, I've accumulated a lot of knowledge from 52 books (as of this video), and now I want to give back.

I decided to start with First Principles, because it lays the groundwork for all other concepts that I eventually want to present. As I said in the video, I first discovered this idea while watching Elon Musk in an Interview. After reading about Elon Musk's story in Elon Musk by Ashlee Vance, I found that the concept of First Principles is synonymous with who Elon is and that a video I make about First Principles must include him in it.

Here are the links:

Interview with Elon Musk (start at 22:40):

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Elon Musk's Unbelievably Simple 12-minute Killer Break Down on Climate Change

Elon Musk breaks down climate change for students at The Sorbonne in Paris (France's Harvard) right before the historic COP21 climate change conference in which *all* nations signed the now historic Paris Agreement in 2015 to reduce carbon emissions below 2C, and preferably under 1.5C.

This channel believes that this is one of the best basic explanations on climate change ever given in a short amount of time. Enjoy!

English subtitles provided for non-native English speakers.

Thanks to Elon Musk and his passion for helping humanity to transition to a 100% clean renewable energy economy!

Edited and subtitled by Greg Brooks-English at

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For more videos like this, visit YouTube Channel 'yonseienglish'.

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How Elon Musk Became Rich In His 20's!

Elon Musk is a super successful entrepreneur and space travel fanatic.He was born and raised in South Africa. His childhood wasn't so happy and he was also bullied by his schoolmates. After dropping out of Stanford University he started his journey in the business world. Musk soon became the majority shareholder in PayPal, before eventually selling it and going on to create SpaceX and become CEO of Tesla motors.


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Elon Musk's Basic Economics

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Elon Musk Says These 8 Books Helped Make Him Billions

The more you learn, the more you earn, according to Elon Musk. Here are the top 8 books that Elon Musk recommends if you’re looking to start a new business.





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Elon Musk says Universal Basic Income is “going to be necessary.”

Elon Musk at the World Government Summit 2017 in Dubai.
(Full conversation)




Elon Musk (NY Times Best Seller) by Ashlee Vance - BOOK SUMMARY

Elon Musk... Tesla, SpaceX, and the Quest for a Fantastic Future is an in-depth, extensively-researched, and balanced biography by Ashlee Vance, a well-known business and technology columnist who has written for the Economist, BusinessWeek, and the New York Times. -- Sign up to receive free weekly video book summaries at --

Described as the Thomas Edison or the Iron Man of our times, Musk is painted as an eccentric industrialist – both inventor and business man – with insanely big vision, the impressive capacity to deal with stress, and the often jarring but necessary capability to squeeze the most out of his people.

To put the Musk oddity in context, after the Silicon Valley implosion in the turn of the millennium, entrepreneurs and investors started playing it safe, often working on incremental improvements, whereas Musk never gave up on his leap-forward visions. To the point that those closest to him were following him around to make sure he wasn't actually going insane.

Why Elon Musk Believes Universal Basic income Will be Necessary

In todays video we discuss the growing implications of technology and how a universal basic income dividend (UBI) system could potentially flatten the curve of economic disruption from artificial intelligence. People like Elon Musk, Andrew Yang, and even Richard Nixon have all been promoters of such an idea. Over time, perhaps such an idea may become reality....


Disclaimer: nothing in this video is financial advice whatsoever and are simply my personal opinions and speculations.

Elon Musk on Universal Basic Income

Elon Musk and Joe Rogan discuss universal basic income though the lens of COVID-19.

Full episode:

Elon Musk: Who's Better? Engineers or Scientists?

Elon Musk on who's better -- an engineer or a scientist? And why it's easy to start a company if you are an engineer.

Elon Musk: Moving Toward Universal Basic Income Due To Automation | CNBC

Tesla and SpaceX founder Elon Musk told CNBC on Friday that economies would most likely need a form of 'universal basic income' as more and more industries become automated.
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Elon Musk: Moving Toward Universal Basic Income Due To Automation | CNBC

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Battery Day was a Masterclass in Economics by Elon Musk | Tesla’s Plan for their First $Trillion!

Chances are even if you watched the whole event, you missed some key points about how Tesla plans to dominate over the next 10 years. The summation of the technological innovations in this investor presentation are the groundwork to a base trillion dollar valuation.

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Elon Musk: I am not Buffett's biggest fan

Elon Musk spoke with Joe Rogan and here some of the highlights from the two-hour podcast.

Tesla CEO Elon Musk said that fewer people should start careers in finance and law and instead focus on innovation.

“In the United States especially, there’s an over allocation of talent in finance and law. Basically too many smart people go into finance and law,” Musk said in an interview with the comedian Joe Rogan that aired Thursday.

When asked by Rogan if being a billionaire makes people see him in a different light, Musk said yes.

“In recent years, billionaire has become a pejorative, like that’s become a bad thing, which I don’t think makes a lot of sense in most cases,” Musk said.

But he distinguished people who became rich by founding a company that builds things, versus those who earned their wealth through financial engineering or other means. “If you organize people in a better way, to produce products and services that are better than what existed before and you have some ownership in that company, that essentially gives you the right to allocate more capital.”

“So this is both a compliment and a criticism,” Musk added. “We should have fewer people doing law and fewer people doing finance and more people making stuff.”

Musk said that manufacturing shifted from being a highly valued job to one that’s “looked down upon,” though the value is there.

“Making a car is an honest day’s living, that’s for sure,” Musk said.

The CEO also addressed his recent vow on Twitter to sell the majority of his physical possessions, which he said weigh him down.

“I have a bunch of houses, but I don’t spend a lot of time in most of them. That doesn’t seem like a good use of assets. Somebody could probably be enjoying those houses and get better use of them than me.”

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