SpaceX
A major innovation from Elon Musk, SpaceX is a spacecraft technology company, both literally and figuratively launching the entire aerospace industry into a new era. Founded in 2002 by Musk and nine other engineers, the company designs, manufactures, and launches rockets and spacecraft, most notably Falcon 9 and the Falcon Heavy, which uses innovative rocket fueling, efficient reusability, and modern software technology.
Falcon 9, the first completely reusable orbital class rocket, is equipped with nine Merlin engines and is touted to eventually bring the cost of launching a satellite into orbit down to as low as $50 million per mission. In 2018, SpaceX attempted its first successful launch of a Falcon Heavy and is currently planning a human mission to Mars.
SpaceX has revolutionized the aerospace industry by providing access to space for commercial entities, such as communications satellites, allowing people to access an expansive range of explore the heavens, and the ability to collect data about the universe for the scientific community, in a more cost-effective and timely manner.
Tesla
In 2003, Musk co-founded Tesla Motors and serves as its current Product Architect. Tesla is an electric car and energy storage company with a mission to accelerate the world’s transition to sustainable transportation. To date, Tesla has sold over 2 million electric vehicles and solar products.
Tesla has created an entirely new way to build and manufacture cars, leveraging innovations in engineering, machine learning, artificial intelligence and robotics. In recent years, Musk has implemented a process of highly automated manufacturing in Tesla’s factories, cutting costs and potentially transforming the auto industry. Tesla has also pioneered electric car batteries, developing a unique cell that has twice the energy density of traditional batteries, increasing the range and thus the practicality of electric cars.
In addition, with the Tesla Powerwall, Musk has developed a home-based energy storage system that can store energy from solar panels and other energy sources for use when electricity prices spike or for backup power during outages. Tesla Solar Roof, another product from Musk, introduces an attractive, recycled-glass roof tile that can generate solar energy.
The Boring Company
In 2016, Musk started The Boring Company with the goal of revolutionizing urban transportation by providing a viable alternative to traffic congested streets. The first completed project is a tunnel in Hawthorne, CA – designed to transport cars in electric skates moving up to 124 miles per hour. Receiving approval to move forward in 2018, two other projects are underway – a high-speed underground tunnel in Los Angeles and a potential tunnel in Las Vegas.
The Boring Company tunnels are affordable and easier to construct than traditional subway systems and can alleviate traffic congestions, at one-tenth of the cost of conventional high-speed rail solutions. In addition, the company is exploring ways to make the tunnels more efficient, with autonomous electric skates and dedicated underground stops that offer direct connections to other parts of the city.
Hyperloop
In the summer of 2013, Musk proposed the Hyperloop, an innovative and ambitious transportation system designed to move passengers and cargo through vaccuum tubes at speeds of up to 750 mph (1,207 km/h). The idea behind the Hyperloop is that the passenger can board a train that is “floated” through a tunnel inside a low friction tube. This technology is designed for long distance travel and would significantly reduce travel time between major cities.
Hyperloop started as an idea, but is now a real world project of a number of entrepreneurs who are pushing the boundaries of what’s possible. The concept has already been turned into a tangible reality with a number of propulsion and tunneling tests occurring across the world.
SolarCity
Musk cofounded SolarCity, a solar energy services provider, in 2006. SolarCity became the largest solar energy installer and is seen as substantially responsible for increasing the availability of solar energy in the US. The company aims to make solar energy accessible to everyone, no matter their financial or geographic situation.
The company introduced a unique solar panel lease program and provided customers with the choice of a zero money down solar lease, making solar energy financially viable for all homeowners. SolarCity was later acquired by Tesla in 2017 and integrated into their “Energy and Grid Solutions” business.
Starlink
In 2018, Musk founded Starlink, a project intended to provide high-speed internet access to people virtually anywhere in the world. To facilitate this, Musk’s company plans to launch 12,000 satellite into low Earth orbit. The company’s aim is to provide a “space internet” and will begin offering Starlink services as early as 2020.
The Starlink constellation is designed so that each satellite communicates with three other satellites, which forms a web of interconnected satellites that can relay data from one point on Earth to another. This technology is extremely promising for providing low-cost, unlimited bandwidth internet to people who are beyond the reach of traditional wired networks.
OpenAI and Neuralink
Two of the most recent projects from Elon Musk are OpenAI and Neuralink. OpenAI is an artificial intelligence research laboratory co-founded in 2015 by Musk and a group of engineers, focused on research and development of artificially intelligent agents. The company’s aim is to “advance digital intelligence in the way that is most likely to benefit humanity as a whole”.
In 2016 Musk unveiled Neuralink, an ambitious project to create a direct connection between the brain and a computer. The idea is to develop a form of implant that can be used to “read” the electrochemical signals of neurons in the brain, interpret them and transmit results to a computer. The mission here is to enable people to control computers and gadgets just with their thoughts.
Insights and Analysis
Elon Musk’s innovation has been at the forefront of many cutting edge technologies, from rockets to artificial intelligence. His mission is focused on encouraging humanity to explore and embrace new technologies, make them accessible, affordable, and applicable in our daily lives. With projects ranging from SpaceX to Neuralink, Musk continues to inspire and challenge us to reimagine the future.
At the end of the day, Musk seeks to make an impact by creating solutions for our biggest challenges, be them energy-related, transportation, or communication-related. The future is only becoming brighter with every project he takes on and his rallying cry to “make the world a better place” will long inspire future innovators and entrepreneurs.
