"When something is important enough, you do it even if the odds are not in your favour."

"It's OK to have your eggs in one basket as long as you control what happens to that basket."

"The first step is to establish that something is possible; then probability will occur.”

Founded in 2002
First privately owned space transport services company
Company goal: "colonization of Mars"

Founded in 2003
First American car maker to go public since Ford Motor had its IPO in 1956
Company goal: "commercialize electric vehicles"

FALCON 1

Diameter: 1.7 m

Height: 22.25 m

Thrust: 343 kN

Weight: 33.2 t

Price/kg: $15,556

Price: $7 million

Payload: 450 kg

Objectives

Access to orbit with World's lowest cost
A benign payload flight environment

Design & launch an entry launch vehicle that provides:

APPROVED

Project Outcomes

Future fundings from stakeholders
Contract with NASA

Business values:

First privately funded & developed rocket to reach orbit

Milestone:

MODEL S

Engine

691 horsepower fully electric motor

Range

265 miles on full battery

Speed

0 to 60 mph in 3.4 seconds

Objectives

Comparable performance
Affordable price

Develop & produce an electric sports vehicle that has:

$57,400 to $100,000+

Project Outcomes

Surpassed sales target

Business values:

First premium 100% electric sedan

Milestone:

SOLUTION

GOAL

unclear

MODEL S

FALCON 1

Agile

Traditional

Extreme

Emertxe

clear

High risk/uncertainty
Complex
Use of new technologies

unclear

Leadership

Credibility

Past success:

Leadership

Vision

Innovative

“Starting and growing a business is as much about the innovation, drive and determination of the people who do it as it is about the product they sell.”

Passionate/influential
Risk-seeking

“Failure is an option here. If things are not failing, you are not innovating enough.”

Does not prioritize cost
Progressive-objective focused

Determined

Leadership

Technical Background

Physics degree
Engineering family background
Continuous self-learning/self-improvement