Thursday, May 28, 2009

Knowledge @ Wharton: Entrepreneur Elon Musk: Why It's Important to Pinch Pennies on the Road to Riches

At 38, Elon Musk has been a co-founder of PayPal, which he and his partners sold to eBay for $1.5 billion; and rocket builder SpaceX, which aims to commercialize the launching of payloads into orbit. He is also an initial investor in electric-car pioneer Tesla Motors, where he designs cars in addition to guiding the business; and solar energy company SolarCity, which sells and services solar energy equipment. In a two-part interview, Musk discussed luck, innovation and the fundamentals of starting a business. The first half of that interview, conducted by Wharton management professor John Paul MacDuffie, appeared in Knowledge@Wharton on May 13. You can find it here, along with an article about his recent visit with University of Pennsylvania students. In the second half, arranged by Wharton Entrepreneurial Programs, he tells Knowledge@Wharton the story of his entrepreneurial beginnings and what he learned about the value of pinching pennies.

An edited transcript of the interview follows: (more)

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