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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

“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.

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Energy

Mapped: The World’s Nuclear Reactor Landscape

Which countries are turning to nuclear energy, and which are turning away? Mapping and breaking down the world’s nuclear reactor landscape.

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The World’s Changing Nuclear Reactor Landscape

View a more detailed version of the above map by clicking here

Following the 2011 Fukushima nuclear disaster in Japan, the most severe nuclear accident since Chernobyl, many nations reiterated their intent to wean off the energy source.

However, this sentiment is anything but universal—in many other regions of the world, nuclear power is still ramping up, and it’s expected to be a key energy source for decades to come.

Using data from the Power Reactor Information System, maintained by the International Atomic Energy Agency, the map above gives a comprehensive look at where nuclear reactors are subsiding, and where future capacity will reside.

Increasing Global Nuclear Use

Despite a dip in total capacity and active reactors last year, nuclear power still generated around 10% of the world’s electricity in 2019.

Global Nuclear Reactors and Electrical Capacity

Part of the increased capacity came as Japan restarted some plants and European countries looked to replace aging reactors. But most of the growth is driven by new reactors coming online in Asia and the Middle East.

China is soon to have more than 50 nuclear reactors, while India is set to become a top-ten producer once construction on new reactors is complete.

Asia's Growing Nuclear Footprint

Decreasing Use in Western Europe and North America

The slight downtrend from 450 operating reactors in 2018 to 443 in 2019 was the result of continued shutdowns in Europe and North America. Home to the majority of the world’s reactors, the two continents also have the oldest reactors, with many being retired.

At the same time, European countries are leading the charge in reducing dependency on the energy source. Germany has pledged to close all nuclear plants by 2022, and Italy has already become the first country to completely shut down their plants.

Despite leading in shutdowns, Europe still emerges as the most nuclear-reliant region for a majority of electricity production and consumption.

world-nuclear-landscape-supplemental-3

In addition, some countries are starting to reassess nuclear energy as a means of fighting climate change. Reactors don’t produce greenhouse gases during operation, and are more efficient (and safer) than wind and solar per unit of electricity.

Facing steep emission reduction requirements, a variety of countries are looking to expand nuclear capacity or to begin planning for their first reactors.

A New Generation of Nuclear Reactors?

For those parties interested in the benefits of nuclear power, past accidents have also led towards a push for innovation in the field. That includes studies of miniature nuclear reactors that are easier to manage, as well as full-size reactors with robust redundancy measures that won’t physically melt down.

Additionally, some reactors are being designed with the intention of utilizing accumulated nuclear waste—a byproduct of nuclear energy and weapon production that often had to be stored indefinitely—as a fuel source.

With some regions aiming to reduce reliance on nuclear power, and others starting to embrace it, the landscape is certain to change.

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Energy

Connected Workers: How Digital Transformation is Shaping Industry’s Future

This graphic explores the role connected workers play in achieving successful digital transformation and identifying new growth opportnities.

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Connected Workers: Shaping the Future of Industry

Digital transformation has upended businesses on a global scale, and no industry is immune from its powerful effects.

New technologies and enhancing customer experience are key drivers for companies investing in digital transformation, but the most important reason for prioritizing this shift is that it will allow them to leverage entirely new opportunities for growth.

However, with the speed of digital transformation accelerating at a furious pace, companies need to quickly adapt their working environment to keep up. This graphic from mCloud unearths the origins of the connected worker, and explores the potential applications of connected devices across industries.

The Rise of the Connected Worker

The mass adoption of smart devices has sparked a new wave of remote work. This type of working arrangement is estimated to inject $441 billion into the global economy every year, and save 2.5 million metric tonnes of CO2 by 2029—the equivalent of 1,280 flights between New York and London.

However, flexible or remote working looks different depending on the industry. For example, in the context of business services such as engineering or manufacturing, employees who carry out different tasks remotely using digital technologies are known as connected workers.

The term is not a one-size-fits-all, as there are many different types of connected workers with different roles, such as operators, field workers, engineers, and even executives. But regardless of an individual’s title, every connected worker plays a crucial role in achieving digital transformation.

Real Time Data, Real Time Benefits

When workers are connected to assets in real time, they can make better, more informed decisions—ultimately becoming a more efficient workforce overall. As a result, industries could unlock a wealth of benefits, such as:

  • Reducing human error
  • Increasing productivity
  • Reducing dangerous incidents
  • Saving time and money
  • Monitoring assets 24/7

While connected workers can enhance the potential of industries, the tools they use to achieve these benefits are crucial to their success.

Connected Worker Technologies

A connected device has the ability to connect with other devices and systems through the internet. The connected worker device market is set for rapid growth over the next two decades, reaching $4.3 billion by 2039. Industries such as oil and gas, chemical production, and construction lead the way in the adoption of connected worker technologies, which include:

  • Platforms: Hardware or software that uses artificial intelligence and data to allow engineers to create bespoke applications and control manufacturing processes remotely.
  • Interfaces: Technologies such as 3D digital twins enable peer-to-peer information sharing. They also create an immersive reflection of surroundings that would have otherwise been inaccessible by workers, such as wind turbine blades.
  • Smart sensors and IoT devices: Sensors that monitor assets provide a more holistic overview of industrial processes in real time and prevent dangerous incidents.
  • Cloud and edge computing: Using the cloud allows workers to communicate with each other and manage shared data more efficiently.

Over time, connected devices are getting smarter and expanding their capabilities. Moreover, devices such as wearables are becoming more discreet than ever, and can even be embedded into personal protective equipment to gather data while remaining unobtrusive.

Real World Applications

With seemingly endless potential, these devices have the ability to provide game changing solutions to ongoing challenges across dozens of industries.

  • Building Maintenance and Management
    Facility managers can access real time information and connect with maintenance workers on site to resolve issues quickly. Building personnel can also access documentation and remote help through connected technologies.
  • Task Management
    Operators in industrial settings such as mining can control activities in remote locations. They can also enable field personnel to connect with experts in other locations.
  • Communications Platform
    Cloud-based communication platforms can provide healthcare practitioners with a tool to connect with the patient, the patient’s family and emergency care personnel.

By harnessing the power of artificial intelligence, the Internet of Things, and analytics, connected workers can continue to revolutionize businesses and industries across the globe.

Towards a More Connected Future

As companies navigate the challenges of COVID-19, implementing connected worker technologies and creating a data-driven work environment may quickly become an increasingly important priority.

Not only is digital transformation important for leveraging new growth opportunities to scale, it may be crucial for determining the future of certain businesses and industries.

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