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Step by Step: How Elon Musk Built His Empire

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This graphic was created by information designer Anna Vital, read her full article here.
Step by Step: How Elon Musk Built His Empire
Copyright Funders and Founders.

Step by Step: How Elon Musk Built His Empire (by Anna Vital)

“The next Bill Gates will not build an operating system. The next Larry Page or Sergey Brin won’t make a search engine. Tomorrow’s champions will not win by competing ruthlessly in today’s marketplace. They will escape competition altogether, because their businesses will be unique.” – Peter Thiel in “Zero to One”

In the book Zero to One, prominent entrepreneur and investor Peter Thiel shares his vision on what it takes to create an extraordinary company.

Specifically, Thiel believes that instead of making incremental upgrades to an existing product or service, a company must aim to do something completely new to avoid ruthless competition. While Thiel has worked with many impressive people over the years, Thiel points to Elon Musk as a particularly successful member of the Paypal Mafia that has gone “zero to one” many times.

The Résumé

At only the age of 44, just “some” of Musk’s successes include building the world’s first global online payments company (Paypal) and landing re-usable rockets on ocean platforms (SpaceX). He also co-founded SolarCity, which just closed a $338 million round for providing commercial solar and energy storage, and his electric car company Tesla now has 325,000 pre-orders for the Tesla Model 3, which is good for $14 billion in future revenues.

Meanwhile, in his spare time, Musk draws up plans for revolutionary transport systems, such as the Hyperloop and VTOL supersonic jet aircraft known as the Musk electric jet.

That’s going from zero to one at least a few separate times, with many years in his career left to come. How does Elon do it?

The Life of Elon Musk

In the infographic and article from Funders and Founders, Vital highlights key circumstances, decisions, and results in Elon Musk’s life. Here are some of the key inflection points that helped him to build his massive empire.

  • Elon was born in South Africa to an engineer father and model mother on June 28, 1971.
  • Elon read 10 hours a day as a kid, and even read the entire Encyclopedia Britannica.
  • At age 12, Elon sold his first video game that he coded for $500.
  • After being inspired by Hitchhiker’s Guide to the Galaxy, Elon decided that his new life mission would be to save humanity.
  • Leaves Stanford PhD program after two days to help found Zip2, which he started with a $28,000 loan from his father.
  • He later received proceeds of $22 million from the sale of Zip2 to Compaq, which he used to start X.com.
  • X.com merges with another online bank (Confinity) to form Paypal.
  • Elon gets ousted as CEO from Paypal while on his honeymoon, yet still invests more money in the company regardless.
  • He discovers that space rockets are artificially overpriced, and starts SpaceX to build his own rockets.
  • Elon gets $250 million from the sale of Paypal to Ebay.
  • Meets Tesla founders Marc Tarpenning and Martin Eberhard, and introduces them to JB Straubel. Elon invests in Tesla.
  • After having three SpaceX rockets explode while approaching bankruptcy with Tesla, Elon takes action. He takes over as CEO of Tesla and raises an emergency fifth round of financing. Meanwhile, his fourth rocket launch with SpaceX succeeds and a $1.6B contract with NASA is signed.
  • Tesla goes public at $17 per share (it trades for ~$250/share today)
  • Elon announces reusable rockets that could make space flight 100x cheaper, and promises to also send humans to Mars by 2021-2031.
  • Elon publishes the Hyperloop design, starts building the Gigafactory, unveils the Powerwall, and eventually lands a rocket on an ocean platform.

What’s next?

Launching the Falcon Heavy rocket, starting Gigafactory production, selling the Model 3 electric car, and potentially landing on Mars are just some of the things on his future laundry list.

What Musk can actually accomplish in the future is anybody’s guess. We certainly won’t be betting against him.

Original graphic by: Funders and Founders

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Automotive

Animation: U.S. Electric Vehicle Sales (2010-19)

This stunning animation visualizes the last nine years of U.S. electric vehicle sales. We also look at who will lead the race in the coming years.

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It’s challenging to get ahead, but it’s even harder to stay ahead.

For companies looking to create a sustainable competitive advantage in a fast-moving, capital intensive, and nascent sector like manufacturing electric vehicles, this is a simple reality that must be accounted for.

Every milestone achieved is met with the onset of new and more sophisticated competitors – and as the industry grows, the stakes grow higher and the market gets further de-risked. Then, the real 800-lb gorillas start to climb their way in, making competition even more fierce.

Visualizing U.S. EV Sales

Today’s animation uses data from InsideEVs to show almost nine years of U.S. sales in the electric vehicle market, sorted by model of car.

It paints a picture of a rapidly evolving market with many new competitors sweeping in to try and claim a stake. You can see the leads of early successes eroded away, the increasing value of scale, and consumer preferences, all rolled into one nifty animation.

The Tesla Roadster starts with a very early lead, but is soon replaced by the Nissan Leaf and Chevrolet Volt, which are the most sold models in the U.S. from 2011-2016.

Closer to the end, the Tesla Model S rises fast to eventually surpass the Leaf by the end of 2017. Finally, the scale of the rollout of the Tesla Model 3 is put into real perspective, as it quickly jumps past all other models in the span of roughly one year.

The Gorilla Search

While Tesla’s rise has been well-documented, it’s also unclear how long the company can maintain an EV leadership position in the North American market.

As carmakers double-down on EVs as their future foundations, many well-capitalized competitors are entering the fray with serious and ambitious plans to make a dent in the market.

In the previous animation, you can already see there are multiple models from BMW, Volkswagen, Honda, Fiat, Ford, Toyota, Nissan, and Chevrolet that have accumulated over 10,000 sales – and as these manufacturers continue to pour capital in the sector, they are likely posturing to try and find how to create the next mass market EV.

Of these, Volkswagen seems to be the most bullish on a global transition to EVs, and the company is expecting to have 50 fully electric models by 2025 while investing $40 billion into new EV technologies (such as batteries) along the way.

The Chinese Bigfoot?

However, the 800-lb gorilla could come from the other side of the Pacific as well.

Global EV Sales

Source: The Driven

Chinese company BYD – which is backed by Warren Buffett – is currently the largest EV manufacturer in the world, selling 250,000 EVs in 2018.

The Chinese carmaker quietly manufacturers buses in the U.S. already, and it has also announced future plans to sell its cars in the U.S. as well.

How will such an animation of cumulative U.S. EV sales look in the future? In such a rapidly evolving space, it seems it could go any which way.

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How Much Oil is in an Electric Vehicle?

It is counterintuitive, but electric vehicles are not possible without oil – these petrochemicals bring down the weight of cars to make EVs possible.

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How Much Oil is in an Electric Vehicle?

When most people think about oil and natural gas, the first thing that comes to mind is the gas in the tank of their car. But there is actually much more to oil’s role, than meets the eye…

Oil, along with natural gas, has hundreds of different uses in a modern vehicle through petrochemicals.

Today’s infographic comes to us from American Fuel & Petrochemicals Manufacturers, and covers why oil is a critical material in making the EV revolution possible.

Pliable Properties

It turns out the many everyday materials we rely on from synthetic rubber to plastics to lubricants all come from petrochemicals.

The use of various polymers and plastics has several advantages for manufacturers and consumers:

  1. Lightweight
  2. Inexpensive
  3. Plentiful
  4. Easy to Shape
  5. Durable
  6. Flame Retardant

Today, plastics can make up to 50% of a vehicle’s volume but only 10% of its weight. These plastics can be as strong as steel, but light enough to save on fuel and still maintain structural integrity.

This was not always the case, as oil’s use has evolved and grown over time.

Not Your Granddaddy’s Caddy

Plastics were not always a critical material in auto manufacturing industry, but over time plastics such as polypropylene and polyurethane became indispensable in the production of cars.

Rolls Royce was one of the first car manufacturers to boast about the use of plastics in its car interior. Over time, plastics have evolved into a critical material for reducing the overall weight of vehicles, allowing for more power and conveniences.

Timeline:

  • 1916
    Rolls Royce uses phenol formaldehyde resin in its car interiors
  • 1941
    Henry Ford experiments with an “all-plastic” car
  • 1960
    About 20 lbs. of plastics is used in the average car
  • 1970
    Manufacturers begin using plastic for interior decorations
  • 1980
    Headlights, bumpers, fenders and tailgates become plastic
  • 2000
    Engineered polymers first appear in semi-structural parts of the vehicle
  • Present
    The average car uses over 1000 plastic parts

Electric Dreams: Petrochemicals for EV Innovation

Plastics and other materials made using petrochemicals make vehicles more efficient by reducing a vehicle’s weight, and this comes at a very reasonable cost.

For every 10% in weight reduction, the fuel economy of a car improves roughly 5% to 7%. EV’s need to achieve weight reductions because the battery packs that power them can weigh over 1000 lbs, requiring more power.

Today, plastics and polymers are used for hundreds of individual parts in an electric vehicle.

Oil and the EV Future

Oil is most known as a source of fuel, but petrochemicals also have many other useful physical properties.

In fact, petrochemicals will play a critical role in the mass adoption of electric vehicles by reducing their weight and improving their ranges and efficiency. In According to IHS Chemical, the average car will use 775 lbs of plastic by 2020.

Although it seems counterintuitive, petrochemicals derived from oil and natural gas make the major advancements by today’s EVs possible – and the continued use of petrochemicals will mean that both EVS and traditional vehicles will become even lighter, faster, and more efficient.

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