We all have wondered, at some point of time, what our
destiny has in store for us? But have we ever thought about the things that
would have the greatest impact on the future of mankind?
Technology is constantly evolving and it has a significant
role in changing our lives for a better future.With a vision of creating the
impossible, Elon Reeve Musk has made
a powerful impact to our changing societies. Born in a South African family he
has become a Canadian-American business magnate with an estimated net worth of US$12.7 billion, making him
the 83rd wealthiest person in the world (as on June 2016). An
engineer, inventor, explorer and an entrepreneur, who dares not
only to dream big but also has the power to turn his visions into reality. Musk
felt that ‘humans, are at edge of
extinction’ and hence his primary goal included, reducing global warming and
"making life multiplanetary" by setting up a human colony on Mars.
 |
founder, CEO and CTO of SpaceX; co-founder, CEO and product architect of Tesla Motors; co-founder and chairman of SolarCity, co-chairman of OpenAI; co-founder of Zip2; and co-founder of PayPal |
Zip2:
Musk
always thought ahead of time. In 1995, when internet was experiencing a rapid
growth, he together with brother Kimbal created their first IT Company, Zip2,
an internet cityguide for the newspaper publishing industry. He created a
platform where eminent newspapers like New York times and Chicago Tribune could
offer their customers additional commercial services. He started this company
with a meager funding of US$28,000 and sold it after 4 years in 1999 to the
biggest search engine of that time AltaVista (later acquired by Compaq), for US$307 million in
cash and US$34 million in stock. Musk received 7%
or US$22 million from this sale.
X.com and PayPal:
Musk was among the first ones to think about
internet payment services and therefore In March 1999, Musk co-founded X.com,
an online financial services and e-mail payment company,
with US$10 million from the sale of Zip2. . In March
2000, X.com merged with a rival company Confinity that was running by Peter
Thiel and Max Levchin.
Confinity developed software to allow owners of PalmPilots
and other PDAs to store encrypted information on their devices, creating the
first digital wallet. In 2001, after the merger, X.com was renamed to PayPal
and Elon Musk became the chairman and chief executive of PayPal.
In October 2002, PayPal was acquired by
eBay for US$1.5 billion in stock, of which Musk
received US$165 million.
SpaceX:
Musk’s thought of colonizing Mars; hence his next
venture was space exploration Technologies Corporation or
SpaceX.
It was inspired by an idea of reducing space transportation costs to make life
possible even on Mars. In 2001, Musk conceptualized "Mars
Oasis"; a project to land a miniature experimental greenhouse on Mars,
containing food crops growing on Martian
regolith,
which could have become a basis for a self-sustaining ecosystem.
The major problem was
huge delivery cost of greenhouses to Mars. He along with his friends met with
Kosmotras, who offered them one rocket for US$8 million, which
according to Musk was too expensive. He calculated that the cost price of all
parts required for constructing a launch vehicle was only 2% of the launch
vehicle price in U.S. It was only then,
he felt the need of starting a company that could build affordable rockets. He
assured to reduce the cost of launch vehicles and space ships by tenfold. Musk
ended up founding SpaceX (in June 2002) with the long-term goal of creating a
"
true spacefaring civilization.”
Musk is the chief executive
officer (CEO)
and chief technology
officer (CTO)
of the Hawthorne,
California-based
company, spaceX.
The primary
mission of SpaceX was not a delivery of astronauts and cargo into orbit, but
colonization of other planets like Mars. On November 9, 2010, SpaceX raised an
external investment of $50.2 million.
The company's first two launch vehicles were
the
Falcon 1 and
Falcon 9 rockets
and its first spacecraft is the
Dragon.
In 2006-2008, the first three flight attempts failed. In the period of 2006 to
2015 companies like DARPA, NASA, ORS, Celestas, ATSB, SpaceDev, Orbcomm, NSPO,
Astrium got interested in SpaceX and ran several test launches of Falcon 1
rocket.
In the next
seven years, SpaceX designed the family of Falcon launch vehicles and the
Dragon multipurpose spacecraft. In September 2008, SpaceX's Falcon 1 rocket
became the first privately funded liquid-fueled vehicle to put a satellite into
Earth orbit. On May 25, 2012, the SpaceX Dragon vehicle berthed
with the ISS,
making history as the first commercial company to launch and
berth a vehicle to the International Space Station.
Tesla Motors
In 2003, engineers Martin
Eberhard and Marc Tarpenning founded Tesla Motors, a company dedicated to producing affordable, mass-market electric cars. Musk participated in designing of
their first electric car, called Tesla Roadster, it was a sports car capable of
accelerating from 0 to 60 mph in 3.7 seconds, as well as traveling nearly 250
miles between charges of its lithium ion battery. Musk insisted on using carbon fiber composite
materials in the hull to minimize weight, developed the battery module and even
some elements of design, like the headlights. By 2006, the project has got into
newspapers and Musk received Global Green 2006 product design award for Tesla
Roadster design. His other successes include the Model S, the company's first electric
sedan, Capable of covering 265 miles between charges, it was also honored
as the 2013 Car of the Year by Motor Trend magazine.
There is an upcoming cross-over
Tesla Model X, which is planned to be delivered for new reservations in the
latter half of 2016. Model X P90D has 259 hp front, 503 hp rear motor power and
a 0-60 mph (0-97 kmh) run of 3.2 seconds with Ludicrous Speed Upgrade. The car
is equipped with the first true HEPA filter with “Bioweapon Defense Mode”
button in a car. Musk stated that when the HEPA filter operates at a maximum
performance no pollen, bacteria or viruses could be detected in the cabin.
 |
model S and model X |
Hyperloop
Forget about all your transportation problems with this new
venture of musk, called hyperloop. Musk
claims that his proposed
Hyperloop will cost just
$6
billion (which is one-tenth
of the cost for the rail system in California) and will be able to cover a
distance of
615 km in a mere
30 minutes.
The
Hyperloop looks like something out of Futurama. Passengers would enter a
2-meter wide pod that would be zipped through a long low pressure tubes
. Its
speed would be more than 700 mph. The entire thing would run on renewable
electric energy and would be resistant to weather as well. This would result in
a low impact form of transportation that could help alleviate traffic burden
across the country (when installed elsewhere).
SolarCity
Musk provided the initial concept and financial
capital for SolarCity, which was then co-founded in 2006 by his cousins
Lyndon and Peter
Rive. Musk is the largest shareholder. SolarCity
is now the second largest provider of solar power systems in the United States
The underlying motivation for funding both
SolarCity and Tesla is to help combat global warming. In 2012, Musk
announced that SolarCity and Tesla Motors are collaborating to use electric
vehicle batteries to smooth the impact of rooftop solar on the power grid, with
the program going live in 2013.
On June 17, 2014, Musk committed to building in
Buffalo, New York, a SolarCity advanced production facility that would triple
the size of the largest solar plant in the United States. Musk stated the plant
will be "one of the single largest solar panel production plants in the
world", and it will be followed by one or more even bigger facilities in
subsequent years.
The Tesla Battery
The Tesla battery is a part of the clean energy company SolarCity.
Founded in 2006, this company seeks to make renewable energy something that
every home will not only be able to afford but will want to incorporate.
SolarCity designs and installs clean energy systems in residential
and commercial settings. They have designed the Tesla Battery, a
high-efficiency sleek looking battery, which can be enough to completely remove
someone from the grid (given adequate solar panels, low consumption, and other
factors). The big idea here is that by using SolarCity’s clean energy updates a
household can become less dependent on electricity, power their electric
vehicle, and ultimately reduce their footprint on the environment without
spending an outrageous amount of money.
OpenAI
In December 2015, Elon Musk announced the creation
of
OpenAI,
a not-for-profit artificial intelligence (AI) research company. OpenAI aims to
develop
artificial general intelligence in
a way that is safe and beneficial to humanity.
DeepMind
Technologies
Musk struck buyout gold again with his artificial intelligence
company DeepMind Technologies. The company launched in late 2010 with Musk as
one of the key angel investors. The company would eventually sell to Google for
an unconfirmed amount, but most reports put the value between $400 and $600
million.
The Bottom Line:
Musk has always
ahead of time. From PayPal taking over the digital currency world to SpaceX
already making flights to Tesla building, Musk’s inventions and companies will
definitely change the world and our lifestyles by 2050. He believes in using
renewable forms of energy, making the world a better place, not only for us but
for the generations ahead.