Web3 Market

Elon Musk: The Controversial Game Changer

Unless you’ve been living under a rock for the past 20 years or so, you know who Elon Musk is. For one thing, the South African-born business magnate and investor has an estimated net worth of around $192 billion. But that’s not the only reason why he’s constantly in the public eye.

How much does Elon Musk own of SpaceX

Musk is the man behind SpaceX, a visionary enterprise aimed at, quite literally, reaching the stars, but also in a more figurative, exchange market sense. Sounds expensive? It was. Well see, prior to that, Musk had co-founded Zip2 and X.com. The first one was later acquired by Compaq, and the latter merged with Confinity to form PayPal, which was acquired by eBay. 

Musk was also an early investor in Tesla, and is now its largest individual shareholder. In case you need a reminder: Tesla is a pioneer of electric vehicles that’s making massive amounts of money even though their panel gaps are as wide and as inconsistent as their CEO’s Twitter posts. 

That sentence also serves as a gorgeous segue into the claim that Musk has acquired Twitter as well. Out of spite? To deliver a vision? Both? For better or for worse, he’s spearheading one of the largest social media networks in the world, and one that’s been quite certain of what and, more importantly why, he aims to do with it. Elon Musk is a polarizing figure, to say the least, and is a thorn in the side of many. However, this is not the place to discuss his personal agendas, his blazing Tweets nor the naming scheme for his kids. That’s quick-click tabloid talk. 

Instead, it’s worth taking a deeper dive into Musk’s decisions from a business perspective, to try to get into his head, as impossible as it is, or at least to try and scratch the surface (or scalp, if we were to continue making analogies) and see whether or not his decisions actually make sense. Spoiler alert, his ever-increasing wealth screams they do, but the real question is – how?

Is It a Bird or Is It a Doge?

Why did Twitter change to Doge

The best example is probably the most recent one, with Musk trading the iconic Twitter logo for that of a cute Shiba Inu dog. However, that’s not just any old pup, but the face of Dogecoin, which originally started as a joke currency meme coin which ridiculed the hype around Bitcoin. 

Let’s rewind. The effect of the tech tycoon on the value of this former shitcoin proves that all press is good press, especially when you’re Elon Musk. When Musk first tweeted about Dogecoin, its value went up by a staggering 16%. Oh, but then he called the coin a hustle on SNL, and its value plummeted. 

Then just last week, shortly after April Fool’s Day, the doggo took the place of Twitter’s blue bird. The ever-joker, Musk even posted a whimsical photo of Doge unable to cross the border due to his photo in the passport being “out of date” (the passport photo is the one of a blue Twitter birdie).

Is this a joke? Maybe, but we wouldn’t hold our breath, as this led to Dogecoin rising in value some 30-odd percent. That’s simply what Musk loves to do – make seemingly random grand gestures he later explains and watch the world dance to his tune. Whatever your thoughts on the man, you can’t deny the swagger and the wits behind a move like this.

His intentions, on the other hand, remain as elusive as his real personality. The jester is his persona, no doubt about that, hiding a ruthless and sharp mind for business, illustrated not only by his success so far, but also his uncanny ability to influence the world of modern finance in a way nobody else can and won’t be able to do, at least not soon.

You thought that’s the end of it? Guess again. Musk is currently caught up in a $258 billion racketeering lawsuit filed by Dogecoin investors. He stands accused of running a pyramid scheme: using his impressive clout to cause the value of Dogecoin to soar to marvelous heights before it crashes miserably. Not surprisingly, the billionaire appears to be completely unfazed by that development, nor by the actions the SEC may take against him.

Be that as in may, in colloquial terms, Musk just keeps killing it these days and he’s on top of the world, quite enjoying his seat at the head of the table. But how did he get there and, equally interestingly, how has he remained at the table, not necessarily as the head, for so long?

Is There a Secret?

Does Elon Musk co own Tesla

You know those articles titled “X Secrets to a Successful Career/Life/random-thing-here”? Well, we wouldn’t be the first to try and solve the Musk riddle, so we’re not going to bother. Let’s just say that it’s a combination of factors that made Musk who he is. Elon Musk is a unique figure in the world, both in his demeanor, his actions, his words and the occasional lack of intent behind them, as well as his unparalleled business prowess. All that’s what makes him the success that he is and continues to be. Native intelligence, reasoning, and the ability to read the world of finance, opportunity, and loss is a huge chunk of that, but it’s not the only thing that separates him from the flock, there’s more than meets the eye, and that’s precisely what we’re going to touch upon (but not advise you to apply). And then of course, there’s the luxury of getting to be a risk taker with a safety net.

There Is No “No”

There’s a popular anecdote circulating how Elon Musk once badgered his professor at Queens University into changing his score from 98% to 100%. Did Musk listen to the professor’s probably multiple “no’s”? Probably not, as you may have guessed. This is an essential trait of his personality, where he knows what he wants and goes after it until he gets it. And another thing – he doesn’t fear the word “no”, he takes it head on and keeps on going, similarly to how Rocky Balboa just wouldn’t stop advancing on Drago.

Relentless Focus

Another essential character trait is Musk’s focus and hard-working attitude, which might explain the mass layoffs of the “working hard or hardly working” Twitter clique more intent on making their perfect soy-caramel latté than making a dent in social media. He’s no stranger to 75-hour work weeks, sleeping at his desk, and giving it his all through the sheer force of his will and focus to attain his goals. Is it something he should demand of his employees? No. Is it something he expects? Yes. Is it something that makes him who he is? Definitely so.

Passion Makes Perfect

If Musk’s public antics are anything to go by, he loves everything he does, and it shows, from Tweeting economic upheavals to trying to make it to the Moon and back. His business is fueled by his love and passion for it, which is a vicious circle, sure, but also a winning one. Instead of taking his work home with him, he is his work and everything he does reflects that. What’s a long work week if you’re loving every second of it?

Small = Big

Finally, as all great businessmen and visionaries alike do, Musk’s all about providing advanced solutions to simple life’s problems. Fuel’s bad? Let’s go electric. Yes, we all know where that electricity comes from and how it’s made, but hey, we it has to start somewhere it has to start somehow (cue Guerilla Radio). 

Public transportation’s a problem? OK, let’s make an electric monorail which goes through a long tunnel in the mountains and get people to where they need to go faster. Musk’s is a problem solver, and in a grand way. His solutions are not for today, but rather for the future, helping him stay ahead of the curve even if he does occasionally miss a curveball.

Separating the Art From the Artist

Does Doge have a future

Unmasking Musk’s potential for thriving in the tribulating world of business is all well and good, but what about his not-so-flattering flairs of personality he so willingly shares with the world? That’s something no serious publication focused on the world of business, investment, and crypto needs to delve into. The real question is – is that even important? Is learning more about the way Musk makes and maintains his fortune connected to the way he Tweets?

Sometimes, as is the case with the mentioned Dogecoin, it is. However, his personal beliefs are his own and his desire to share them in places others do so as well is also his own. Do we agree with him or not? Irrelevant. Do you agree with him or not? Relevant to you, your friends, and your family, and mind the instrumental word – relevant.

Far be it from us to state that his personal behavior isn’t important – it is, and it affects many, mostly negatively. However, it’s not the purpose of the article to dissect or explain such behaviors, but rather to separate the business side of Musk from the personal side of Musk (if you want to name the former Mr. Jekyll and the latter Mr. Hyde, that’s perfectly fine too). However, that doesn’t mean there’s not positives to take home from Musk, at least as long as you don’t take his internet manners to heart and focus on his business ventures. Anything else, frankly, might be a waste of time.