Top Innovators and Rivals Elon Musk and Jeff Bezos 2
5. Wealth, buy a house vs abandon a house
1st and 2nd richest person in the world. This is the wealth of Elon Musk and Jeff Bezos.
Then, what about the perception of money of two of the world's most wealthy people?
“I will sell almost all of my physical possessions.”
"It's not like I'm piling up my wads of cash."
“There are voting rights in corporations such as Tesla, and the market just puts a value on those voting rights.”
"That money isn't important" is Musk's central philosophy for doing business. Recently, Musk has been declared homeless.
He has announced that he will sell all the houses he owns.
He said he would like to allocate that time and money to SpaceX's goal of getting to Mars.
So what about Bezos? It turns out that Bezos is showing a lot of interest in 'real estate'.
He bought a $165 million mansion in Beverly Hills, Los Angeles, and previously bought land and homes in Beverly Hills.
6. Management philosophy, obsessed with customers vs. obsessed with products
"Customer obsession isn't just about listening to customers, it's about inventing for them."
"Because it's not their job to invent. So, you have to be inventors and pioneers."
“CEOs need to focus on products and services rather than financial statements”
“CEOs need to focus their time on making amazing products.”
The two people's philosophy of obsession with customers and products shows a common goal. Satisfying customers with good products and services should be our top priority.
Jeff Bezos has always emphasized customer obsession.
He says that he can achieve the goal of 'product obsession' more reliably through 'customer obsession'.
Bezos 'Working Backward' explains the customer-centric principle well.
Unlike some companies that come up with innovative ideas first and go into design and customer verification, everything is done from a 'customer's point of view'.
All products and services are derived from ideas and processes from a 'customer's point of view'.
First, we create data by predicting target customers, customer styles, profiles, complaints, and customer reactions after product launch.
And he says that this customer obsession model ultimately leads to the best products. How about Musk?
He emphasizes that CEOs should be perfectionists in the products and services they create.
A company has no value by itself, and only becomes valuable when it creates products and services with a value greater than the input cost.
Musk has emphasized the need to create products that are 'different' from competitors, not 'better'.
7. Workstyle, speak in just 6 notes vs speed up the process
Two people at the top. They each had their own know-how in their work style. Above all, get the job done quickly
I considered it important.
Bezos says complex business processes eat away at a company's lifespan.
We built a system to help employees express themselves in different ways and make better decisions.
That's six notes.
Instead of doing PPT as a meeting, Amazon shares the content of the meeting in notes.
At this time, the author can freely write in the narrative structure.
So what about Musk?
"Speed up the process"
"If the schedule takes a long time, it is wrong. A tight and full schedule is good."
He emphasizes getting things done as quickly as possible. He says you can actually learn more and achieve better results in the process of making something than just thinking about it.
He says we have to boldly abandon the 'time lag process' for this
If there is anything that slows down the process, I advise you to throw it away.
Musk was able to achieve better results in rocket recycling through this process.
8. Success Equation, Take High Risks
“If we aim for the long term, the interests of consumers and shareholders will be aligned.
"If you don't want to be criticized, don't try anything new."
"Failure is an option. If you don't fail, you're not innovative enough."
"Possibility does not exist from scratch. It is created."
9. Strategy,
Exclusivity: Selling everything vs. Innovation: Challenging the impossible
Monopoly and innovation.
It is a keyword that shows the two opposing management strategies.
While Bezos developed a 'monopoly strategy' focusing on e-commerce, Musk developed his own 'innovation strategy' to lead the trend with an innovative model.
Amazon's goal was to be a store selling everything in the world.
Amazon started out as an internet bookstore and has added many products over time, including music and video, electronics and toys.
Amazon ships almost anything in the world in two days, and sells products at the lowest price at a loss.
The greater Amazon's market power, the greater the consumer's profit.
We invest all our money in new businesses, attract more customers to the Amazon ecosystem, and when our profits grow again, we reinvest that money and attract more customers and sell at the lowest price.
However, Amazon's strategy of maximizing consumer profits and strengthening its market dominance was criticized a lot.
This is because they forced their suppliers to discount prices in order to provide the lowest price to consumers.
Unlike Bezos, Musk's actions can be summarized as a strategy to lead trends with innovative models.
They want to revolutionize the automobile industry, build vacuum tunnels to run trains, combine the human brain with artificial intelligence (AI), and overthrow the solar and battery industries.
And by 2050, we dream of building a colony by transporting 1 million people to Mars.
Why does he only challenge seemingly impossible things?
He says he only thinks about two things when taking on a challenge.
“Is it necessary or is it necessary?”
It is said that society only establishes the principle of working for 'stuff that will matter'. He doesn't hesitate to take on a challenge.
* Innovative companies created by Elon Musk PayPal: An online payment platform company.
Elon Musk had already started an online bank called X.com.
Musk merged with competitor Confinity and changed its name to PayPal.
SpaceX: A private space development company founded in 2002. It is a company founded by Elon Mask with the money earned by selling PayPal, and has commercialized space development, a symbol of the future.
It contains Elon Musk's unique imagination about what it would be like to do a space development project that was in charge of a government agency in a private company.
Neuralink: We are working on a project that inserts a chip into the human brain and links it with AI.
It is believed that by connecting the human brain and AI through a chip, human intelligence can be maximized and it can be used for serious diseases such as brain diseases.
Solar City: An alternative energy company that engages in solar power business. In 2016, Tesla acquired SolarCity for $2.6 billion, making SolarCity a subsidiary of Tesla.
As you can see, we only challenge the seemingly impossible goals. But his dreams are connected.
The goal is to make electric vehicles with Tesla to supply eco-friendly transportation means, to create a 100% eco-friendly energy circulation structure by turning the electricity that goes into electric vehicles into a solar city, and to make the earth a society that returns to clean energy to earn time to go out into space.
And it certainly has led to change little by little, and has brought change one step further.
10. Vision, hope for the survival of mankind.
“It’s about wanting the future to be better.”
“I want to do new and exciting things that will improve my life.”
"Let's benefit the earth" Then, what is the dream of these two? Why did these two jump into the adventurous space of space? It is said that the reason the two entered the space business is for the 'sustainability of mankind'.
Bezos believes that the day will come within a century when the planet will not be able to keep up with the current growth in population and energy use.
Musk said that if we want to protect humanity, we must first protect the Earth, and then, instead of relying on a single space called the Earth, if we disperse it in several places, we will be able to maintain the existence of humanity.
The more you diversify your investment on more planets, the higher your chances of survival are, so you keep launching rockets.
Two innovators and rivals who always choose adventure and innovation over the safe path and set high goals. Let's look forward to the innovative future that the two will create.
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