Elon Musk and Richard Branson Google+ Hangout
“Just get on and do it
do it. Come up with great idea and just do it. Give it a try.” Richard Brand opens up the conversation.
Get as much feedback from others to build the best possible model. To put together the best people you need real good product or service. You want to seek negative feedback from friends.
See crititcal feedback, ask whats wrong with the idea or the project.
Then keep trying to make it better and better and if there is nothing else like it or or nothing better than it, the company will succeed.
Be a good listener. There is a great deal of awareness in silicon valley.
Disproportionate awareness. In the world, if has all of the resources.
- Tech business
- real estate
Keep in mind when creating companies, a lot of companies fail.
Do whatever you can to foster the growth fo young small companies.
Anything that can be done to make sure it sustains itself.
Big companies will try to stamp out small companies.
In the end it is up to you to use whatever means you can to defend yourself.
You gota be the best in your field.
The Silicon Valley built a reputation for having great companies because of great people.
Elon goes on to say, “When you first start everything is good.”
First 6-months and year good then…
First things start to go bad.
Years 2-4-5 are quite difficult.
You gota do the tough jobs and the real whatever it take, tough jobs.
“eating glass and staring into the abyss”
First three launches of space x failed.
If the fourth launch failed space x wouldn’t be around.
Both of Elon’s companies were almost dead at one point.
Tesla on Christmas eve 2008 signed its round of funding.
If Tesla didn’t get that funding, Tesla would have gone bankrupt.
Very thin dividing line between success and failure.
You have to fight to survive.
Most companies do not survive.
The important part is going to be building.
8/10 companies do not survive.
Work day and night. If you are an entrepreneur, use you’re entrepreneurial skills.
Think about not only the bottom line but also social and environmental things to unite business to get on top of the worlds problems.
A company is just a group of people together to work on a product or service.
Most companies only exist is if they are doing something useful.
What is something that is useful.
What can you say about hyperloop?
The concorde retired.
You want to future to be better than the past.
Less than 1000 miles
Supersonic plane a lot of time ascending and descending
It may be better to figure some other means way
What is the right question to ask?
- Twice as fast
- Cost less
- Not subject to weather
- More convenient
It would increase travel. You could live in SF and work in LA.
Faster than the speed of sound
700mph LA-SF get there in half hour
Does involve a tube. Not a vaccum tube.
Very low fiction
Full details on Monday
Many of the best ideas come from personal frustration.
Branson center of entrepreneurship
Work with a wide range of teams
Keeping a team of disruptives working well together.
Everyone understands goal and mission of the omapny.
As long as that goal is clearly defined. They are not just joining for a salary they actaulyl believe
Let someone go if the team is at cross purposes.
Fundamental job of CEO is making sure people are in line and they are enjoying work and making progress.
They stay and work together great.
Yes you feel the need to change or make a difference in the world.
Make sure survives
Do something proud of
Once business is established.
Extreme focus on one thing.
How do you keep focus on so many things and still keep such velocity.
Early stages you need to focus your resources on one.
Keep it on one company focus. Stongly advice through as mny hours as you can on one company. Love it think about it in your sleep no breaks nothing. 100% focus.
Early on in the history find someone that can run a company somethat can run the company. Find someone who run sit ends it on a day to day basis.
Workload and decision.
The most important thing is that individual behind it. Can he or she deliver that idea.
Does that person have the skills.
Is he a motivator.
Will he deliver.
A company is simply a group of people.
The person with the idea.
You need to know that you can and will deliver.