Daily Beverage Intake:

Elon Musk mentions that while he used to consume up to eight Diet Cokes a day, he has since reduced this to one or two. He also drinks about two cups of coffee daily. These habits were once fueled by the demands of his rigorous work schedule.

Work Hours and Impact:

Elon Musk works around 80-85 hours a week currently, down from over 100 hours during more stressful periods like the financial crisis of 2008-2009. He emphasizes that the toll of work increases exponentially with the number of hours, rather than linearly. During the financial crisis, he even dreamt about work, which was a difficult experience for him.

Morning Routine:

Musk usually wakes up around 7 AM and goes to bed at 1 AM. His mornings are not consistent regarding breakfast; sometimes he doesn’t eat anything and simply has a coffee to start the day.

Meal Habits:

Lunch for Musk is typically a quick affair, consumed during a meeting within five minutes. Dinner is where he tends to consume the most calories, particularly during business dinners which include multiple courses. He acknowledges this is a bad habit.

Physical Exercise:

Elon Musk works out once or twice a week, mostly involving the treadmill or weightlifting. He agrees that he should be more consistent with his physical exercise.

General Wellness:

Overall, Musk seems aware of the need for better habits in terms of diet, caffeine intake, and physical exercise, acknowledging that the extreme demands of his work-life have influenced these behaviors.

Leadership and Influence in Companies:

Elon Musk clarified that while he holds strong influence over his ventures like SpaceX, Tesla, and SolarCity, it’s a team effort involving thousands of people. SpaceX has 4,000 employees, and Tesla just crossed the 10,000-employee mark. His role is influential but not dictatorial.

Time Allocation and CEO Role:

Musk revealed that he initially planned to allocate only 20-30% of his time to Tesla and even less to SolarCity. The plan for SolarCity held true, but he ended up dedicating significantly more time to Tesla. Despite not wanting to be the CEO initially, he couldn’t find a suitable person for the role, especially for a growing company.

Future as Tesla’s CEO:

Musk expressed his commitment to remaining the CEO of Tesla through the high-volume production of the Model 3 and the Gigafactory. However, he is open to considering other roles within the company afterward, stating that nobody should be a CEO forever.

Pricing and Market Plans:

The pricing for the Tesla Model 3 aims for $35,000, although the price in Europe may be around EUR 30,000 due to tax and exchange rate differences. He expects the Model 3 to be on the market in about three years.

Hiring Philosophy:

When hiring, Musk focuses on storytelling and problem-solving. He wants to understand the difficult problems a candidate has tackled and how they approached them. He values exceptional ability over formal education, stating that not having a college degree is not a hindrance for employment.

Comparison with Tech Leaders:

Musk stated that people like Steve Jobs, Bill Gates, and Larry Ellison all had different skills but shared a commonality in being highly driven and capable of attracting talent. He emphasized that attracting and motivating great people is essential for a company’s success.

Personal Attributes and Desires:

Musk described himself as having a high innate drive, which has been consistent since his childhood. When asked about talents he wishes he had, Musk mentioned a desire to play a musical instrument, although he did note that he can whistle well.

Importance of Truth:

Elon Musk emphasizes the significance of truth when coming up with solutions. He sees it as a vital component for problem-solving and decision-making. He is driven by the need to understand the “truth of things,” which is a guiding principle in his endeavors.

Fear and Courage:

Musk contradicts the perception that he is fearless. He admits to feeling fear quite strongly but asserts that if the cause is important enough, he overrides it. The focus here is on his ability to push past fear if he considers the objective significant enough.

Decision-making Based on Stakes:

When asked about the areas in which he would refrain from taking full risks due to fear, Musk explains it is contingent on the stakes involved. His “drive” supersedes the fear if he deems the objective crucial enough.

Self-Evaluation:

Musk finds introspective questions to be both interesting and challenging. He acknowledges the difficulty of evaluating oneself in aspects like fear and decision-making, indicating a level of self-awareness.

The takeaway is that for Elon Musk, the pursuit of truth is foundational, fear is an emotion to be managed, and the importance of the goal is the deciding factor in overcoming that fear.

Riskiest Venture:

Elon Musk identifies SpaceX as the riskiest company he founded, noting he initially thought both SpaceX and Tesla had a low chance of success. Despite this, he invested half of his PayPal earnings into these companies.

Financial Sacrifices:

Musk elaborates on the financial struggle he faced in keeping the companies alive. He poured all his funds into the ventures, even borrowing money from friends for living expenses. This was a calculated risk where he expected to lose his investment but chose to sustain the companies.

Turning Point in 2008:

The year 2008 was a pivotal period for Musk, marked by setbacks such as SpaceX’s three rocket failures, Tesla’s financing falling apart, and personal hardships. He came close to a nervous breakdown but everything changed when SpaceX secured a $1.5 billion NASA contract on December 23, 2008.

Close Call with Tesla:

Right after the NASA contract, Musk mentions closing a critical financing round for Tesla on Christmas Eve. He reveals that Tesla would have gone bankrupt a few days after Christmas had this financing round not closed.

Best Idea Ever:

When asked about his best idea, Musk states it was moving to North America, specifically California and Silicon Valley. He believes that the conditions in this region are conducive for startups and represent the cutting edge of technology, which is why he moved.

Musk’s experiences convey the high levels of risk, financial sacrifice, and resilience needed in entrepreneurship, and how crucial turning points can dramatically alter the fate of a venture.

Life and Regrets:

Elon Musk reflects on his life, stating that while he has some regrets, overall, he is content. He mentions that life is short and one cannot do everything. Despite the introspective nature of the question, he expresses satisfaction with his current position.

Future Aspirations:

Musk’s future vision includes a more extensive human presence beyond Earth, particularly humans living on Mars. Additionally, he wishes to see widespread adoption of electric vehicles and renewable energy. He believes these would be significant milestones for humanity.

Business Decisions:

When questioned about business decisions he regrets, Musk cites that he should have been the CEO of Tesla from the start. This would have avoided the need to recapitalize the company and saved it from much “grief.” He also admits Tesla was initially based on two false ideas, relating to the Lotus Elise chassis and technology from AC Propulsion.

Use of External Technologies:

Tesla integrates components from various suppliers, like Bosch and Mobileye, into their products. However, they manage the software integration in-house, highlighting the blend of proprietary and third-party technology in Tesla vehicles.

Personal Endeavors:

Musk talks about dying on Mars, clarifying that the idea is not about a desire to die but rather an interesting choice for a final resting place. He says ideally he would travel to Mars, return to Earth, and go back when he is old.

Space Travel and Hyperloop:

Musk plans to go to space in about 3-4 years. On the topic of which would happen first, a Hyperloop from San Francisco to LA or the first man on Mars, Musk thinks the Hyperloop is more likely, though not necessarily on that particular route.

Personal Happiness:

Musk’s happiness hinges on a balance between a healthy family life and successful work life. If either is disrupted, it significantly affects his overall happiness.

Burning Man and Art:

He has a long-standing relationship with the Burning Man festival and has built three art cars. Musk’s James Bond Lotus Esprit submarine car is currently sitting in Tesla’s design studio and was not taken to the festival.

Replica with Modifications:

Elon Musk speaks about a project aimed at creating a vehicle similar to the iconic James Bond car, which could transform into a submarine. He notes that a direct replica isn’t feasible because the fins are positioned where the wheels would go, making the transformation physically impossible.

Design Adjustments:

Musk suggests that scaling up the vehicle by about 10% and relocating the fins towards the outer edges would make the transformation viable. The goal is to make the vehicle look as similar to the original as possible while adhering to the constraints of real-world physics.

Elon Musk’s Personal Car Collection

First Significant Purchase:

Musk shares that one of the two gasoline cars he owns is a Series 1 67 E-Type Jaguar Roadster. He bought this vehicle after receiving a $40,000 bonus from a venture capitalist, spending $35,000 on it. The car broke down on the way home, but it was significant as it was a car he had admired since his teenage years.

Inspiration and Future Purchases:

Musk also mentions the Gullwing Mercedes as an influential design that partly inspired Tesla’s Model X. While he can now afford it, he has not yet purchased one. He also owns a Model T, which he notes is challenging to drive due to its unconventional controls.