The Art of failing successfully

Seldom have we ever come across a person who is willing to invest billions of dollars on an idea for the benefit of the human race. Neither have we ever come across someone who keeps world over his own country. The person I am going to talk about is an unusual billionaire. Having $300 billion to his disposal, he lives in a tiny $50,000 box house, sold all of his mansions, drives a car that his company manufactured, manages to run 4 big companies, travels 5 days a week, works 20 hours a day, and yet, finds out time to post random things on X (twitter). Yes, I am talking about Elon Musk. An engineer, a rocket scientist, an environmentalist, a mathematician, and one of the most amazing polymaths out there. 

Elon is one of the most influential and visionary entrepreneurs of the 21st century. Born in South Africa in 1971, he quickly become known for his role in founding, leading, or transforming several high-profile companies that have reshaped industries across the globe. Musk is the CEO of Tesla, which has revolutionized the electric vehicle industry, and space X, a private aerospace company that aims to make space travel more affordable and accessible. His venture also includes Neuralink, a neurotechnology company, and the Boring company, focused on improving urban transportation through tunnels, which India is in desperate need. He has also been involved in co-founding other innovative companies like Pay-Pal and Open AI. Known for his bold vision and ambitious goals, Mush has driven advancements in sustainable energy, space exploration, and AI. 

Beyond his business acumen, Musk has gained attention for his outspoken personality, his use of social media, and his ability to stir public debate. He has been both lauded as a technological genius and criticized for his controversial statements and leadership style. Regardless of opinions, Musk's impact on technology and his relentless pursuit of groundbreaking ideas has made him a defining figure of our time. People like Elon Musk are born with an attitude of not giving up and to chase things that are difficult, yet important. As Nietzsche once said, "There is no better life purpose than to perish in attempting the great and impossible. Fact that they are impossible shouldn't be the reason to not pursue it. That's exactly what makes it worth pursuing. Where would the courage and greatness be if success was certain and there was no risk. The only true failure is shrinking away from life's challenges." 

Elon is the epitome of a "successful failure." To me, a person can be called a successful failure when they learn something from their setbacks. When one doesn't allow failure to stop them but instead attempts the same goal with a different mindset and renewed enthusiasm, that person embodies what it means to be a successful failure. According to Elon, failure is an option. You can't learn new things or discover different ways to proceed when success is certain.

When Elon first started out, he unsuccessfully applied to a number of emerging tech companies, including Netscape. Despite these rejections, he founded Zip2, a searchable business directory that was essentially an online version of a telephone book. It may seem like a simple idea now, but at the time, it was revolutionary, especially when computers were still not widely used. Unfortunately, Zip2 struggled in its early years, and most investors had little interest in funding the idea.

However, Musk wrote the code for a mapping project, which allowed him to combine both ideas into a single platform. To cut down on costs, the company staff even lived on the premises.

In an unbelievable turn of events, Elon was ousted as CEO of Zip2 and given a much smaller role. But he managed to help remove the CEO who replaced him, Richard Sorkin, when they disagreed on the company's vision and principles. Elon later moved on to a new business venture, which was initially voted the "Worst Business Concept of the Year." Believe it or not, PayPal was considered a terrible business idea in 1999, when it was released as security software for the PalmPilot and other handheld devices.

However, Musk pivoted to creating an online wallet, which gradually gained traction. Change is constant, and Elon has always been willing to adapt when necessary, seeking to create products that provide clear solutions to users. It doesn’t matter if the road isn’t paved for you—what matters is your driving skill and your company. Speaking of driving skills, Tesla was struggling hard before it eventually became profitable.

Many experts in the auto industry were vocal about their disdain for Tesla when it first arrived on the scene. According to these individuals, the electric car was a non-starter and was sure to fail. A heads-up: Elon did not found Tesla. He did, however, take charge of the company when he became CEO.

In 2008, it seemed likely that these market predictions would come true, as Tesla stock was on the brink of collapse due to insufficient funds. There was even a website created specifically to count the days until Tesla’s demise—it was called the "Tesla Time Bomb," or something to that effect. At the time, Musk was in the midst of producing the Model S. Incredibly, he decided to risk bankruptcy and used his personal wealth to keep the company afloat. This wealth came from the $40 million he earned from the sale of PayPal. Tesla was also facing a financial crisis, with many investors backing out. Personal bankruptcy, a company in crisis, production delays, public hatred, court battles, and a divorce—all at the same time. Yet, Musk fought through it all. What an example of a stoic attitude.

Another of his ventures that was equally brilliant is SpaceX. Even though no one cared about space tourism back then, what caught Elon’s attention was the environmental damage caused by rockets every time they were launched. He wanted to create a rocket that was reusable. After things had settled with Tesla and he had emerged from personal bankruptcy, Musk went to Russia to try and purchase secondhand rockets, which cost about $10 million each. Musk was taken aback by the high cost and decided to build a rocket on his own—from scratch. How could someone even think about manufacturing a rocket? Apart from having an engineering background, Musk had nothing to rely on except books and his own brain. Elon is a self-taught rocket scientist. Yes, you read that right. He taught himself how rockets work and what it takes to build one.

When Musk ventured into the business, it took nearly 16 months for SpaceX to prove that it was possible to land a rocket on one of their recovery drone ships. The first attempt was surprisingly successful, with the rocket landing with an accuracy that shocked many experts. Nevertheless, progress was slow, and many still doubted the legitimacy of the company. When Musk tried landing four rockets in succession, they exploded like the Chernobyl nuclear reactor. It was a huge blow for both Musk and SpaceX, with the media taking a very cut-throat approach to the story. While it was fully expected that these failures would set back the space industry, Musk insisted they must move forward and make good use of the valuable data gathered during these failures.

Through this immense setback at SpaceX, we see that Elon is a maverick and a nonconformist. In other words, he takes an independent stance apart from his peers and thinks creatively to produce the necessary results for success.

Musk is a controversial character. He has experienced some very adverse situations in his personal life. After all, he went through a very public and long divorce process with his previous wife. He stated that this period was consumed by deep depression. As if that wasn't enough when the 2008 recession depleted the profitability of SpaceX and Tesla, Musk was almost broke again. In fact, he was considering axing one of these two companies. 

Elon's journey exemplifies the power of perseverance, resilience, and visionary thinking. His successes and failures offer valuable lessons for aspiring entrepreneurs and leaders. Never give up on your vision. Musk's unwavering commitment to his vision of sustainable transportation and space exploration, despite numerous failures and setbacks, is a pivotal lesson. It is essential to stay focused on your long-term goals and persist in the face of challenges. Embrace failure as a steppingstone to success. Musk has frequently emphasized the importance of learning from failures. Each setback for SpaceX or Tesla has been seen as an opportunity to iterate, improve, and come back stronger. Embrace failure as a chance to learn, adapt, and grow. Surround yourself with people who are better than you. 

In the ever-evolving landscape of technology and innovation, Elon Musk remains a figure who defies easy categorization. Whether through his ventures with SpaceX, Tesla, Neuralink, or The Boring Company, Musk has proven to be both a visionary and a disruptor, constantly pushing the boundaries of what’s possible. His achievements, however, are not without controversy, sparking debates about the ethical implications of his work, the environmental impact of his companies, and his sometimes unconventional public persona. Yet, love him or loathe him, there’s no denying that Musk’s influence is shaping the future in ways few can match. As we look ahead, one thing is clear: Elon Musk’s story is far from over, and the world will be watching to see what he dares to tackle next.

I’d like to share an anecdote about Musk. In 2023, Elon’s private jet took 441 flights in one year. After acquiring Twitter, he had to divide his time between three major companies. Apart from Tesla and SpaceX, he now had the responsibility of managing Twitter as well. Musk owns a total of three private jets, but for this data, only two of them were considered. His total flying time was 1,161 hours, or about 48 days. He flew 166 times between California and Texas, which highlights the divide between his duties at SpaceX and Tesla. Altogether, his jets consumed a total of 538,037 gallons of fuel, costing a little over $3.2 million, or approximately Rs 25 crore. If you think this is crazy, hold on—because in 2022, his flights totaled 739 take-offs, amounting to 1,865 hours in the air.

In a world where it’s easy to be discouraged by setbacks, Musk’s story shows us that success doesn’t come without sacrifices or challenges. The path to greatness is often messy and unpredictable, but it’s through these very challenges that we find the strength to push past our limits and redefine what's possible. So, take inspiration from his journey—no matter what your goals are. Keep pushing boundaries, keep dreaming big, and never let the obstacles along the way define your potential.

The future is always in motion, and those who dare to dream are the ones who shape it. Like Musk, we all have the power to chart our own course. The question is: what will you do with yours?