Many people opine Elon Musk as 21st century Thomas Edison. It is not an exaggeration. He is an innovator who revolutionized multiple fields like space, automobiles, e-finance, solar energy etc. Musk was awarded many innovators of the year awards. But these appreciations are not the motivation of Elon Musk. He is very passionate about solving the problems. Musk works for 18 hours a day and his employees say that he never compromises on his vision. He had undergone many challenging times when SpaceX failed to launch the rockets twice. Now let us explore the top five inventions of Elon Musk which contributed to his tremendous success.
Everyone thought that Musk is just fancying his teenage fantasy in the name of SpaceX. SpaceX is transforming the way we see the space explorations. Falcon rocket designed by SpaceX is the world’s first reusable rocket. SpaceX was founded in 2002 with the vision to colonize Mars and reduces the expenses of space transportation. Musk started SpaceX with the money he acquired after selling Zip2 and PayPal.com. NASA awarded a contract to take its crew to and fro from ISS. Now, SpaceX and NASA are working together on Falcon 9 rocket model which they are planning to use as a vehicle for astronauts by the end of 2018.
We can easily say that Elon Musk successfully revolutionized the automobile industry in last decade. Many companies tried to design a proper functioning electric car which is as powerful as a mainstream car. But their designs were poor. There was no sophisticated infrastructure or safety. Electric Vehicles from Tesla Motors are special. Musk named the company after a popular innovator Nikola Tesla. Model S from Tesla Motors was the planet’s best selling car in the years 2015 and 2016 because of their functioning and sleek design. Most interesting fact about Tesla Motors in all their patents are open and any manufacturers can use them.
When Elon Musk announced a rough picture of Hyperloop in whitepaper announcement in 2013, people perceived it as a science fiction idea. But Hyperloop is the most ambitious project of Elon Musk. Hyperloop is a rail system which works in very low air pressures in a tube which significantly reduces the resistance and generate the high speed of 800 miles per hour. Hyperloop model is still very far from reality. But the scientific community is believing in this idea and in next 2 two years, the company is planning to build a 5-mile length hyperloop tube in California. Hyperloop in its complete vision would allow the commuters to travel from Los Angeles to San Fransisco in half an hour.
PayPal Electronic Payments
X.com was one of the first companies to provide financial services and electronic payments on the internet. X.com and Confinity merged and formed a company called PayPal. PayPal is still one of the best ways to do financial transactions on the internet. Most of the co-founders of PayPal started revolutionary companies like YouTube, SpaceX etc. eBay bought PayPal for 1.5 Billion USD in 2002. Musk invested his share in founding his dream company SpaceX. This financial powerhouse is still going strong and still, there is no meaningful competitor to PayPal to date.
SolarCity is a subsidiary company of Tesla Motors. Musk started this company with his cousins it manufactures solar panels and installs them on residential and commercial establishments in the USA. SolarCity also offers solar energy storage services through Tesla Powerhouse. SolarCity is not as powerful as SpaceX or Tesla Motors but it is one of the most domitable forces in the renewable energy sector.
Elon Musk is insanely crazy risk taker which makes him very special. He thinks in terms of Physics framework. In many interviews, Elon Musk discussed his approach to solving a problem. He boils down the problem to the core fundamental truths and then reasons it up from there. He creates the solution out of problem from the scratch. Innovation is all about creating solutions from the scratch. He calls this approach as first principles framework. Apart from that he works insanely hard. He works 100 hours a week to manage his companies which are diverse fields. If you are interested in knowing more about Elon Musk, read his autobiography written by Ashlee Vance