Elon Musk is a hot figure in the world today. He is sought after by everyone, not only because he is the richest man in the world, but also because of his ultimate pursuit of dreams and his courage to risk everything. This speech was simple, down-to-earth, and was loved by many audiences. Elon Musk shares the following entrepreneurial success experiences. Worth learning from. 1. In the initial stage of starting a business, you must be super diligent and hardworking, and you must also be frugal. 2. Find excellent people to join the team or join an excellent entrepreneurial team. The entrepreneurial team must have clear goals and strong cohesion. 3. Focus resources and energy on product design and services. 4. When making products, we must adopt first principles, go straight to the essence of things, and do not follow what others say. If you start a business while you are young and have no family burdens, you are more likely to succeed.

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I've got about apparently 5 or 6 minutes to say the most useful things I can think. I'm going to do my best. And II it was suggested that I just still thinks down to 3 items. I think I'll go with four. and I'll try it. And I think these are pretty important ones. So I'm going to make it sound like, well, you've heard it before, but it's worth reemphasizing. I think the first is you need to work, if you, depending on how well you want to do a particularly if you're starting a company , you need to work super hard. I take about 5 or 6 minutes to say the most useful thing I can think of, and I'll do my best. Someone suggested I distill the content into three points. I think I'll make four points. I think these are very important. Maybe you'll feel like you've heard some of this before, but I think it's worth emphasizing again. First of all, you need to work super hard, depending on how you want to do it, especially for people who are building companies, you need to work super hard.

So what does super hard mean? Well, when my brother and I were starting up our first company, in instead of getting an apartment, we just rented a small office and we slept on the couch. and we showed the YMCA. And we're so hard up. We had just one computer. So the website was up during the day. and I was coding at night, 7days a week, all the time. and I briefly had a girlfriend at that period. And in order to be with me, she had to sleep in the office. So what does "super hard" mean? When my brother and I started our first company together, we couldn’t afford an apartment, so we rented a small office and we slept on the couch. We showered at the YMCA. We were very poor and could only afford a computer. The website runs during the day and I write code at night, 7 days a week. During this period I briefly had a girlfriend. She had to sleep in the office too in order to be with me.

So I work hard like at every waking hour, that's the thing I would say particularly if you're starting a company, and I mean, if you do simple math, say like, if somebody else is working 50 hours, and you're working a hundred, you'll get twice as much done in the course of years as a company. So I work hard and spend all my waking hours working, and the thing I want to say is, if You are starting a company. This is my suggestion. You can do a simple calculation. If others work 50 hours and you work 100 hours, then your company’s achievements in one year will definitely be twice as strong as others. .

The other thing I'll say is that if you're creating company or if you're joining company, the most important thing is to attract great people. So either join a group that's amazing that you really respect, or If you're building a company, you've got to gather people. I mean, all the company is a group of people that are gathered together to create a product or service. And so depending upon how talent and hard- working that group is and the degree to which they are focused cohesively in a good direction that will determine the success of the company. The other thing I would say is that if you are going to start a company or join a company, the most important thing The point is to attract great people. When you join a group, you join a wonderful team that you respect. When you start a company, you have to gather a group of great people. I mean, all companies are just a group of people coming together to create a product or service. The more capable this group of people is, the harder they work, the stronger their cohesion and clearer their goals, the more likely the company is to succeed.

So do everything you can to gather great people. If you're creating a company, then to focus on signal over noise. A lot of companies get confused that they spend money on things that don't actually make the product better. If you're going to build a company, you need to recruit the best people possible. The next point is to ignore the noise and focus on the signal. What confuses many companies is that they spend their money on things that don't improve their products.

So for example at Tesla, we've never spent any money on advertising. we put all of the money into R&D and manufacturing and design to try to make the car as good as possible. And I think that's the way to go. For any given company, just keep thinking about are these efforts that people are spending? Are they resulting in a better product or service? If they're not stop those efforts? For example, Tesla, we never Spend money on advertising. We invest all our money in R&D, manufacturing and design to make cars better. I think this is how companies should be. For any company, you need to constantly think about it at all times. Can what people spend so much energy doing make the product or service better? If not, stop trying?

And then the final thing is don't just follow the trends. you may have heard me say it's good to think in terms of the physics approach from first principles, which is rather than reasoning by analogy, you boil things down to the most fundamental truths you can imagine, and you reason up from there. The last thing I want to say is, don't follow the trend. You may have heard me say that there is an analogy here to a physical approach that starts from first principles, that is, don't follow what others say. You should boil things down to their most fundamental facts and then reason from the fundamentals.

And this is a good way to figure out if something really makes sense, or it's just whatever somebody else is doing. it's hard to think that way. you can't think that way about everything It takes a a lot of effort. but if you're trying to do something new, it's the best way to think. And that framework was developed by physicists to figure out counterintuitive things, like quantum mechanics. Whether the idea actually works. Rather than others saying it’s okay, then it’s doable. It's really hard, you can't think that way about everything, it takes a lot of energy. But when it comes to innovation, this is undoubtedly the best way to think. It is through this framework that the physics community has derived various incredible theories, such as quantum mechanics.

So it's really a powerful method. and so that's, and then I think that the final thing I will encourage you to do is: Now is the time to take risk. You don't have kids, your obligations or something. Probably not, of course,. but as you get older, your obligations increase. and once you have a family, you start taking risk, not just for yourself, but for your family as well. It gets much harder to do things that might not work out. So now it's the time to do that before you have those obligations. So I want to encourage you to take risks and to do something bold. You won't regret it. Thank you. A powerful approach. I think I have one more piece of advice for you, take risks while you are young. You don't have kids, responsibilities, or anything else, but as you get older, your responsibilities also grow. Once you have a family, if you take risks, the risk will not be borne by you alone, but by your whole family. It may be harder to take risks and do things that may not work out. Before having these responsibilities, doing such risky things would have been less burdensome. So I encourage everyone to take risks and be bold, you won’t regret it.

Thank you! Thanks!