How Elon Musk came to be considered a demi-god among many of today’s entrepreneurs is a mystery that may not have an answer, but what is known is that he has made a huge impact on the world of business and technology. The term ‘demi-god’ has been applied to a range of individuals who have achieved great success in their careers, be it within entrepreneurship, entertainment or even politics. However, whether Elon Musk is deserving of such esteemed title is up for debate.
Elon Musk has achieved a great deal in his life, from starting multiple innovative companies such as SpaceX, Neuralink and Tesla to sending astronauts to the International Space Station. His technological feats have been lauded in various publications such as The Economist, Business Insider and Wired. Musk’s influence has even been felt in other industries, as demonstrated by the rise of the electric vehicle industry which was kickstarted by his innovative approach to car manufacturing.
Many of those close to Musk have described him as a visionary and genius. One of his former employees, Di-Ann Eisnor, has been quoted saying “Nobody is even close to him in regards to sheer will and vision and the ability to make things happen”. His impact can also be seen on a financial level. The brands Musk operates have contributed to a substantial amount of wealth and investments, with Tesla’s market cap being valued at about $613 billion and SpaceX valued at around $46 billion.
But it isn’t all positive. Despite his impressive and noble career achievements, many people have questioned the methods by which he has gone about achieving them. Musk has been the centre of several controversies, recently becoming the target of investigations by the SEC for perceived cases of insider trading. Other organised media outlets have claimed that Musk may be a “bad boss” and be difficult to work with. A report in The Guardian revealed that workers at Tesla’s factory in Freemont were subject to illness due to allegedly poor working conditions.
This evidence leads many to question whether Musk should truly be venerated as a demigod. He is certainly a successful entrepreneur who has achieved many monstrous feats in business and technology, however, the manner in which he has done so continues to raise much debate.
Background of Elon Musk
Elon Musk is a South African-born technology entrepreneur, investor and engineer best known for founding a number of companies, including Tesla Motors and SpaceX. Growing up, Musk studied science and technology and excelled in math and physics. Despite his parents not being able to afford college, he was able to get into the prestigious University of Pennsylvania with the help of a scholarship. He then went on to pursue a PhD in energy physics at Stanford University, but dropped out after two days to pursue a career in entrepreneurship.
Musk’s first company, Zip2 Corporation, was acquired by Compaq in 1999 and he then went on to found X.com, a financial services company which eventually became PayPal. Afterward, Musk became the CEO of Tesla Motors and founded SpaceX, his private aerospace manufacturer. Musk is credited with revolutionising the electric car industry and making it a viable alternative to combustion engine vehicles, as well as being responsible for the successful launch of the Falcon 9 rockets and the Crew Dragon spacecraft. Musk has also expressed his desire to colonise Mars, claiming that “if we can get to Mars, we can probably figure out how to go to other places”.
Governance of Musk’s Companies
While it’s true that Musk’s companies have achieved unprecedented success, they are not without controversy. Tesla is known for its aggressive production targets which some employees label as ‘Tesla Time’, where employees must rush to meet deadlines, with some claiming that Musk’s high standards led to illegal work practices and injuries. The company has also been cited as having one of the worst records of workplace safety at its Silicon Valley factory. Additionally, Tesla’s Autopilot feature has been heavily criticised by some for causing accidents, with Elon himself having to apologise for his remarks about the feature.
Aside from Tesla, Musk’s numerous startups have had issues too. SpaceX experienced engine failure of its Falcon 9 rockets during launch multiple times in 2017, leading to the loss of a large number of amount of payloads. The company was then ordered to simulate every stage of engine production in its development process, to avoid a similar recurrence. Musk’s mining firm, The Boring Company, has also been subject to much criticism due to its massive investment in experimental tunnel-drilling technology. Despite the strong performance of Boring’s stock, its profitability and the larger social impact of the technology remain a cause for concern.
Musks Impact on Market
Musk’s rise to fame was accompanied by widespread financial investment in his companies. Shares in both Tesla and SpaceX increased significantly in value, creating a lot of wealth for investors. These investments are partly responsible for SpaceX becoming the most valuable private space exploration company in the world. Tesla’s stock surged to unprecedented levels in 2021, with its market cap eclipsing that of Toyota Motors and General Motors.
This has had a positive effect on a broader level, with the total value of publicly-traded companies associated with renewable energysurging by 74 per cent. The success of Tesla has also helped accelerate the push for electric car production across the globe, laying the foundations for previous combustion-based companies to make the shift. Elon Musk himself was a key advocate for this shift, backing initiatives for renewable energy sources and consciously buying land for the production of solar energy.
Criticism of Musk’s Methods
Despite his invention and impact, doubts have been raised over Musk’s methods. He has been accused of misusing his social media presence, launching verbal attacks on various companies including Amazon and the SEC. Additionally, it has been suggested that he may be overstating the potential of his products. For example, the fully-autonomous driving promised by Tesla’s Autopilot has been delayed multiple times, and the new capabilities promised by Neuralink may take decades to develop.
Ethically, it’s hard to say whether Musk is above reproach. His lack of respect for many of his critics and apparent willingness to override ethical considerations suggest that he may not be up to this responsibility, but this is a matter for much debate. It has even been suggested that he may have the capacity to impact the political process, if he continues his trend of backing innovations which have a positive social effect.
Musk’s Divisive Nature
The debate surrounding whether Elon Musk should be labeled a demi-god is divided. Some point to his leadership as evidence of his godlike status, whilst others point to numerous ethical and moral issues which he is perceived to have overlooked. There is no easy answer to this question, but it’s clear and agreed upon that Elon Musk has had a transformative impact on the worlds of business and technology.
Perceptions of Elon Musk vary however, depending on lifestyle and circumstances. For many, he embodies the idea of entrepreneurship, having taken many risks and seemingly persevering through success and failure alike. On the other hand, some have criticized Musk and have been subject to his unwarranted ire, due to his intolerance for criticism. Ultimately, it is up to each individual to decide for themselves whether or not to believe the hype that has built up around Musk.
Durability of Musk’s Influence
Elon Musk’s influence and reach are undeniable, with entire industries and debates having been influenced by him. His impact is also likely to extend far into the future, with the integration of self-driving cars, space exploration and artificial intelligence expected to continue to increase. This will depend largely on Musk, who appears ready to take the necessary risks to deliver the ambitious projects he sets out to achieve, regardless of what other people think.
There is no question that Elon Musk’s legacy and influence are here to stay. Whether this is enough to grant him the status of demi-god is for each individual to decide. However, it’s undeniable that his contributions have shaped the way we think about innovation and technology, and will continue to do so for much time to come.
