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Elon Musk's Basic Economics

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Elon Musk's Basic Economics

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Elon Musk on Universal Basic Income

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

Full episode:
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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.
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If You Hate Elon Musk Watch This Video — It Will Change Your Mind | Elon Musk's Speech

Elon Musk is a business magnate, engineer, inventor, and designer. Elon Musk is the founder of Tesla, SpaceX, and The Boring Company. Elon Musk is also the co-founder of Neuralink and OpenAI. Musk is considered by many to be the greatest entrepreneur of our generation due to his relentless efforts to have a better future for humanity.

Being an entrepreneur is like eating glass and staring into the abyss. — Elon Musk

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[DraperTV] — Eating Glass and Starting Up | Elon Musk (Iron Man):
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[60 Minutes] — 2012: SpaceX: Elon Musk's race to space:
[60 Minutes] — 2014: Tesla and SpaceX — Elon Musk's industrial empire:
[PowerfulJRE] — Joe Rogan Experience 1169 - Elon Musk:
[The National Press Club] — NPC Luncheon with Elon Musk:
[ISS National Lab] — ISSRDC 2015 - A Conversation with Elon Musk :
[SXSW] — Cast and Crew of Westworld | Westworld | SXSW 2018:
[World Government Summit] — Mohammad Al Gergawi in a conversation with Elon Musk during WGS17:

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Weekend Update: Financial Expert Lloyd Ostertag on Cryptocurrency - SNL

Financial Expert Lloyd Ostertag (Elon Musk) stops by Weekend Update to discuss cryptocurrencies such as Dogecoin.

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Elon Musk’s 2 Rules For Learning Anything Faster

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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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Elon Musk's hyperloop could revolutionise public transport | The Economist

Elon Musk's Hyperloop technology has the potential to revolutionise the way we travel. In a contest he held in Los Angeles, some of the world's brightest engineers gathered to find the best way to make this billionaire's pipe dream a reality.

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Elon Musk, the billionaire behind Tesla Motors and SpaceX, wants to revolutionise public transport. In 2017 he held an event at SpaceX's California headquarters showcasing the latest technology for what he believes is the future of intercity travel. An entirely new transport system, called Hyperloop.

What this is all about is advancing the state of transportation; trying new things that have never been done before that can make an incredible difference to peoples lives.

But is Hyperloop ready to usher in a new age of mass transit or is it just a billionaire's pipe dream?

In 1829 a competition was held to find the best locomotive engine for the Liverpool and Manchester Railway, in northern England. George Stephenson's Rocket won first prize, posting a top speed of 38km per hour. Widely credited as the world's first steam locomotive the Rocket transformed how people travelled between cities.

Almost two centuries on, Musk is hosting the modern-day equivalent of that competition and teams of engineers from around the world have come to Los Angeles to compete, head-to-head. The aim is to bring Hyperloop one step closer to reality.

But what exactly is Hyperloop?

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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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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.

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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....



THANKS FOR WATCHING! -Nico



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

How to Create a Company | Elon Musk's 5 Rules

“Starting and growing a business is as much about the innovation, drive and determination of the people who do it as it is about the product they sell”  — Elon Musk.

This Video is Part 1 of Elon Musk's Five Rules How To Create a Company.
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Elon Musk is a is an engineer, industrial designer, technology entrepreneur, and philanthropist. He is the founder, CEO and chief engineer/designer of SpaceX; co-founder, CEO and product architect of Tesla Inc.; founder of The Boring Company; co-founder of Neuralink; and co-founder and initial co-chairman of OpenAI.

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Elon Musk's 3 Rules To Learning Anything

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I do think there's a good good framework for thinking it is physics you
know the sort of first principles reasoning generally, What I mean by that is boil things down to they're fundamental truths and reason up from there as opposed to reasoning by analogy....Elon Musk's 3 Rules To Learning Anything

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???? ELON MUSK ON THE POWER OF THINKING FOR YOURSELF :

In 2002, Musk began his quest to send the first rocket to Mars—an idea that would eventually become the aerospace company SpaceX.

He ran into a major challenge right off the bat. After visiting a number of aerospace manufacturers around the world, Musk discovered the cost of purchasing a rocket was astronomical—up to $65 million. Given the high price, he began to rethink the problem.

“I tend to approach things from a physics framework,” Musk said in an interview. “Physics teaches you to reason from first principles rather than by analogy. So I said, okay, let’s look at the first principles. What is a rocket made of? Aerospace-grade aluminum alloys, plus some titanium, copper, and carbon fiber. Then I asked, what is the value of those materials on the commodity market? It turned out that the materials cost of a rocket was around two percent of the typical price.”

Instead of buying a finished rocket for tens of millions, Musk decided to create his own company, purchase the raw materials for cheap, and build the rockets himself. SpaceX was born.

Within a few years, SpaceX had cut the price of launching a rocket by nearly 10x while still making a profit. Musk used first principles thinking to break the situation down to the fundamentals, bypass the high prices of the aerospace industry, and create a more effective solution.

First principles thinking is the act of boiling a process down to the fundamental parts that you know are true and building up from there.

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Elon Musk Charmingly Defeating a Room Full Of Oil Giants

Elon Musk shows how to easily convince a room full of oil giants at the Oil and Gas Summit in Norway 2014 provided by ONS. Check out their channel here:
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Tesla Factory Tour with Elon Musk!

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'Watch Before They DELETE This!' - Elon Musk's URGENT WARNING (2021)

Elon Musk's biggest warning. Watch before they delete it!
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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.

Somebody's Got To Do The Real Work! - Elon Musk On Economics | Create Quantum Wealth 2021

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

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