OOH …Here’s One Thing
by Jim Johnsen,
Managing Director, Johnsen, Fretty & Company
https://youtu.be/oP0DaZBmwQI?si=0XDIR5TCNuPxQjFP
Surprise, Dos Equis was wrong. Jonathan Goldsmith is not the world’s most interesting man. Space Cowboy is.
Love or hate him, you have to respect him on some level. Curious who I am talking about? Someone close recommended it, so I agreed to read it. Walter Isaacson’s biography of Elon Musk. Is there anyone out there who doesn’t know that name? Pretty interesting to think, of course with the help of 7.21 billion smartphones, that he might be the most recognized man on the planet at the moment. He is also the richest, at $333 Billion, but that’s a story for another day.
Anyone who has read Isaacson’s Steve Jobs or Leonardo Da Vinci knows how thick his books can be. As the end of year mad dash is now on full boil, I have only skimmed the book thus far, but look forward to that quiet period between Christmas and New Year’s. That said, based on what I have read so far, I am convinced it’s worth the true read. So to get y’all motivated, I thought I would browse a few factoids from the book that you might find inspirational and particularly suited to conquering the outdoor business.
First off, in case you didn’t know it, Elon is on the spectrum. I recently learned that the politically correct way to say that is that he is neurodivergent. (Thanks Gen Z for that one.) Ever go to school with someone like that? They are the ones reading the calculus book while the teacher is whining on about long division. They are also the ones who solve the rubix cube in about 35 seconds. Part of me really wishes I gave those individuals much more respect during grade school. Rumor has it that Elon read the entire Encyclopedia Britannica at the age of 9. He also got his ass kicked a lot in school in South Africa, had an abusive father that was so bad that his mother ran off with Elon and his brother and sister and survived on soup and beans for a while. As a result he immersed himself in comic books where heroes save the world and travel to far off planets. Starting to see the connection yet? (Amazing to note how many self made billionaires share childhood trauma and poverty).
Elon eventually grew to over 6 feet, took karate lessons and fought back. This also shaped his approach to business. As he said, “If you are fighting a bully, you cannot appease a bully. You punch the bully in the nose.
Hard to under-estimate Elon Musk’s impact on society. It extends far beyond just his ventures in space. His work with Tesla has revolutionized the electric vehicle industry, accelerating the world’s transition to sustainable energy. Musk’s Neuralink is pushing the boundaries of neuroscience, aiming to merge the human brain with artificial intelligence. His ventures continue to challenge conventional thinking. Musk has often been seen as a solitary figure who operates outside the norms of mainstream business practices. His willingness to take risks, make bold decisions, and face significant challenges without waiting for permission mirrors the Space Cowboy.
Besides “Physics is a law, Everything else is a recommendation” he attributes much of his business success to his 5 step Algo (aka algorithm for you non technos or finance weenies out there). Here it is (and I will be noodling these hard over the break):
1. Question every requirement (aka do we really need another meeting to talk about this?)
2. Delete any part or process you can (do I need to call San Diego to see if they have any availability?)
3. Simplify and optimize (when client copy comes in, can AI help determine whether it sucks or not?)
4. Accelerate cycle time (does it really take 20 days to close the books at the end of the month?)
5. Automate (I will leave this one to your imagination).
In short, Elon’s over-arching driving force: Life must be about more than just solving problems. Find your inspiration and fight for it. At one point, Isaacson says that Musk says, “vacations will kill you. The first time I took a vacation I got malaria. The second time I got ousted from PayPal.” While it is tongue and cheek, work for this man is his ultimate joy. As Isaacson says, “I think it is good to have different companies with different styles. The problem was that Twitter was at almost one extreme with yoga studios and mental health days off and enshrining psychological safety as one of the mantras that people should never feel psychologically threatened. I remember the bitter laugh he (Musk) unleashed when he kept hearing that word, and then he said, I like the words hardcore and intensity. I like an intense sense of urgency as our operating principle. One does wonder how much quality time he gives his 12 kids.
Isaacson also says what sets Elon apart, besides the fact that, as he puts it, there is no single Elon Musk, but many Musks, including the jokester, the engineer, and “demon mode” leader, is the fact that his vision is not tomorrow or next year, but way way into the future. He says that he sat in on a 2 hour team meeting at SpaceX where the subject matter was “what was the appropriate government structure for a colony on Mars”.
Yes, far out there, but perhaps our leadership needs to think beyond how to we move our media market share from 4% to 5%. Just a thought. In any event, I for one can’t wait to see what impact he has on the federal government. If he is able to figure out time travel in his spare time, my guess is one of his first stops is to crack a good claret with Thomas Jefferson.
I was born on this rock
And I’ve been travelin’ through space
Since the moment I first realized
What all you fast talkin’ cats would do if you could
You know, I’m ready for the final surprise
There ain’t no way around it
Ain’t nothing to say
That’s gonna satisfy my soul deep inside
All the prayers and surveyors
Keep the whole place uptight
While it keeps on gettin’ darker outside
Steve Miller
Securities transacted through StillPoint Capital Member firm FINRA/SiPC
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