Here is the first real video:
I will highlight the important bits here:
Small intro:
- During the Thailand cave flooding:
- Musk promotes his submarine to be used to save the kids (https://en.wikipedia.org/wiki/Tham_Luang_cave_rescue)
- Fortunately, Vernon Unsworth, a lead rescue diver, said the sun is useless (even divers have to remove their air tanks to pass a narrow passage, a navy seal died doing it)
- So Elon hired someone to dig up dirt on him (for $50000) and called him a pedo on social media lmao
His family:
- Does Musk come from a poor background, as it's often claimed?
- His Mother Maye Musk, a model, become a CoverGirl at 69, do you think she was poor?
- His family owned an emerald mine in Zambia
- His father said they had too much money, he made money being an engineer by real estate as well
- Must had privileged upbringing and private school education
- He was accepted into Stanford, but he dropped out after 2 days and never graduated
First company, Zip2 and how Musk got lucky with $22 million:
- Instead of Stanford, Musk and his brother decide to create Zip2, a site like online yellow pages:
- They got $28k from their father at the start for it (minimal wage in Cali was $4.25 at that time)
- Their mother gave them $10k+ every week
- Greg Kouri was co-founder of Zip2, he had connections and mentored the brothers. He invested another $8k in the company.
- Apparently, the brothers had fistfights in the middle of the office and he was a referee lol
- He brought in venture capitalists, not the Musks
- Musks highest position in the company was CTO (chief tech officer)
- Because he was bad with people, he was not even considered for CEO.
- The code that Musk wrote for the site was bad, difficult to read, update or expand
- So in 1998, Rich Sorkin the CEO, hired professional programmers who completely scrapped what Musk did and rewrote everything.
- Musk was mad that they did that, so he wanted them to work insane hours as he did, but they didn't do it. Musk had a reputation to be difficult to work for.
- CitySearch and Zip2 were to merge, with Rich Sorkin the CEO of the combined companies in 1998 April 3
- But Musk didn't want that and made some sort of revolt, which lead Zip2 to disarray and Sorkin had to be replaced by Derek Proudian as CEO
- He started looking for someone to sell Zip2 now since after the revolt it was shit and losing money
- In 1999 Compaq bought Zip2 for $305 million
- In 2001 Compaq was taken by HP, since it was after the dot-com bubble and they basically lost everything
- But Elon got $22 million from Compaq's bad decision anyway, just for being a co-founder, even though he drove the company to shambles
- He bought a car for $1 million immediately after that to show off to his gf and friends, he later fucked it up (just like Zip2)
Second venture, x.com
- Greg Kouri made enough money to invest in Elons next venture but did not involve himself in the company: x.com:
- Co-founders of x.com are Harris Fricker, Edward Ho and Christopher Payne
- And if you check the Wikipedia article for x.com, you will notice that everyone, except Musk was removed, until on 28 January 2021, they were added back: https://en.wikipedia.org/w/index.php?title=X.com&type=revision&diff=1003398153&oldid=1003397506
- Musk invested the largest amount in the company, to be certain of his control over it and made himself chairman
- Bill Harris was made CEO, he was brought in by Musk
- Fricker didn't like that and he and Musk didn't agree on a lot of things: Fricker wanted to create an online bank, while Musk insisted to make it revolutionary (sounds familiar?)
- Fricker accused Musk of overhyping their product and playing the public
- Fricker tried to coup and take CEO for himself, just 5 months after the company was made
- That failed, so Fricker, Edward Ho, and Payne left the company and took all the good software engineers with them, leaving the shit to Musk.
- The platform at this point was complete crap
- After Fricker left, Musk managed to cheat Michael Moritz to invest more money into x.com, even though the site was barely functional
- Co-founders of x.com are Harris Fricker, Edward Ho and Christopher Payne
The fate of x.com and PayPal and how Musk accidently made $180 million:
- Meanwhile Confinity, a different company was prospering and they owned a new platform called PayPal
- Musk started to copy their promotional models
- Such as giving clients money for client referrals, making massive losses for both companies instead
- x.com merged with Confinity in 2000, with Bill Harris as CEO of the merged company, Musk as chairman (because of the value of his shares) and Peter Thiel, one of the co-founders of Confinity, was the CFO
- Combining the companies was a nightmare because they had different cultures
- They were losing money, largely because of hackers
- Bill and Thiel did not see eye to eye on how to handle the company, making Thiel eventually quitting
- Musk did an emergency meeting and managed to steal the CEO position for himself, getting Thiel back as chairman
- Musk wanted to rebrand everything to x.com, but PR hated it, because it sounded like a porn site
- The company started becoming popular as an online means to transfer money but was still largely hacked and started to have all other sorts of fraud as well
- Musk was suspected of not presenting an accurate picture of the company problems to the board of directors
- There was an actual secret meeting, in a bar, where a coalition of employees brainstormed how to get Musk out, because it was decided his decisions were one of the main reasons for the company problems
- 6 months after becoming CEO, Musk was now targeted and was voted to be removed, while he was on a plane to AUS for his honeymoon with his first ex-wife
- Thiel become the new CEO
- Musk flew back to make a case for himself, but no one cared.
- Musk was fired on March 9 2001 from the company
- In the termination agreement or w/e it is, there is a clause that the company must remove references about founders on the site, which allows Musk to easily lie about him being the founder
- After musk was terminated, the company was rebranded to PayPal and all x.com references were removed
- eBay bought PayPal for $1.5 billion later on in the same year
- Musk got $180 million from the sale, just for having shares, using them for his future companies (Tesla, SpaceX, SolarCity)
- eBay bought PayPal for $1.5 billion later on in the same year
- Let's point out that:
- Musk did not found Confinity
- Musk did not write PayPal's code
- The company was not even called PayPal while Musk worked there
- He did not help the company make money or be sold, in fact, he was kicked and after that the company flourished
- How is Musk the founder of PayPal exactly?
And some side notes, Elons first ex-wife (Justine) said that she was a test wife, he had 6 children from her and left her for a prettier woman, who he would later also divorce two times.
Cheery bye!
