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Elon Musk is currently the richest person on Earth. Tesla Inc’s market capitalisation surpassed $1 trillion on Monday and CEO Musk emerged as the richest person in the history of the world. Musk’s fortune jumped by $36.2 billion ( ₹2.71 lakh crore) Monday after Hertz Global Holdings placed an order for 100,000 Teslas.
However, the story of Musk was quite different a decade ago. The SpaceX CEO broke and had to live off loans from friends in 2008. He had invested all his money in Tesla and SpaceX. In the same year, a global recession happened and Musk faced a very difficult time, he almost ran out of cash.
Now, as fortune has smiled upon Musk in 2021, a video has gone viral in which the billionaire was seen explaining his plans on running the business.
A Twitter page named Tesla Silicon Valley Club posted a 1:08 minute-long video in which Musk explains the situation in an interview. The page captioned the video–“Elon Musk discussing electric vehicles in 2008 as tesla was nearly out of cash”.
In the video, Musk can be heard, “The important point here is what is that when you have a new technology, it takes time to optimise that technology”.
He said that the cost of making tesla’s high-end Roadster and other fancy and luxury cars went into the development of other technologies in the company.
In the video, the 50-year-old billionaire claimed that he received only a minimum wage and worked as a volunteer basically.
He also explained why he was planning to make expensive cars. According to Musk, when someone has new technology, it would take time to opmtimise that technology.
“In early days, laptops, cellphones, everything was expensive in those days,” he added.
“The critical point is you can’t get to the low-cost cars unless you start with the expensive ones,” Musk said in the 13-year-old video.
The video has caught Musk’s attention, and he replied, “Wow, 13 years ago”.
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