Elon Musk

[Value Hunter]

interesting perspective from an engineer on the launch retrieval.
Mick

You can refer to the Dilbert principle, the Peter principle and the Gervais principle for the explanation of why it is that way and in my many years of working I would say that in my personal experience 80% of managers are retarded (and that includes CEOs).

 

[mullokintyre]

You can refer to the Dilbert principle, the Peter principle and the Gervais principle for the explanation of why it is that way and in my many years of working I would say that in my personal experience 80% of managers are retarded (and that includes CEOs).

So what is exactly is it that you manage?
Mick

 

[qldfrog]

So what is exactly is it that you manage?
Mick

Elon is applying startup principle to a mega corporate, that's all.if you spend your career protecting your back you are out.
We all know that failing is part of daring, i wonder how failing is managed by Elon?
Also, is reward.. aka $ matching the efforts and outputs an employee makes

 

[Value Collector]

Elon is applying startup principle to a mega corporate, that's all.if you spend your career protecting your back you are out.
We all know that failing is part of daring, i wonder how failing is managed by Elon?
Also, is reward.. aka $ matching the efforts and outputs an employee makes

I always thought Elon handled risk and failure pretty well, but I think we can all see in recent years he is starting to fall apart a bit mentally.

I think he needs a holiday, and hand the reins over to some of the very capable engineers he has assembled.

 

[Value Hunter]

So what is exactly is it that you manage?
Mick

Nothing, I am just a worker that is the whole point. I am too smart to be a manager lol!

In a lot of jobs being the manager isn't even financially worthwhile.

Most managers are salaried, but many times the people working under them are paid on an hourly rate. I have often had jobs where I earned more money than the manager due to overtime, easier to obtain bonuses, penalty rates, etc. I even have had jobs where I earned more than my manager's manager. Also often managers who are salaried end up doing a lot of unpaid overtime. Often times the compensation issue is why only dumb people become managers. I have seen it happen so many times where there was somebody extremely capable at their job who would also have made an excellent manager then they were offered the job as manager and rightly turned it down because "why would I take on a lot more headaches for $15,000 per year more base salary and lose all my overtime, penalty rates, etc". Then the company often goes and hires someone externally, generally someone retarded (because nobody in their right mind would do the managers job for that amount of money).

 

[Value Hunter]

Also Nicholas Nassim Taleb has pointed many times that hired CEOs are generally trash because they have very little skin in the game. That is why in general the vast majority of best performing companies are run by owner operators/founders.

In Australia you can see a lot of examples of how the top performing companies on the ASX were majority founder run companies. Blackmores before it got taken over, ARB Corporation, Reece, Wisetech, Promedicus, Mineral Resources, Fortescue Metals, Dicker Data and many others.

 

[Value Collector]

Also Nicholas Nassim Taleb has pointed many times that hired CEOs are generally trash because they have very little skin in the game. That is why in general the vast majority of best performing companies are run by owner operators/founders.

In Australia you can see a lot of examples of how the top performing companies on the ASX were majority founder run companies. Blackmores before it got taken over, ARB Corporation, Reece, Wisetech, Promedicus, Mineral Resources, Fortescue Metals, Dicker Data and many others.

I think that is some what survivorship bias though, I mean any company that makes it to be large enough to be listed on the ASX 200 while its founder is still alive and young enough to be still running the place is obviously already exceptional management, the ones that don’t have exceptional management don’t make it that big.

 

[Value Hunter]

I think that is some what survivorship bias though, I mean any company that makes it to be large enough to be listed on the ASX 200 while its founder is still alive and young enough to be still running the place is obviously already exceptional management, the ones that don’t have exceptional management don’t make it that big.

I agree but both things can be true at the same time. Most small business owners are idiots which helps explain the high failure rate of small business and the reason why as you correctly pointed out so few small businesses become a large company. But that can be true at the same time as it being true that most hired CEOs are just talent-less and self serving grifters focused on maximizing their own pay packets. Hence why the pinnacle of the pyramid in terms of competency is the successful founder.

 

[Value Collector]

I agree but both things can be true at the same time. Most small business owners are idiots which helps explain the high failure rate of small business and the reason why as you correctly pointed out so few small businesses become a large company. But that can be true at the same time as it being true that most hired CEOs are just talent-less and self serving grifters focused on maximizing their own pay packets. Hence why the pinnacle of the pyramid in terms of competency is the successful founder.

There is also the many companies that go on to be bigger and better after their founders die, Apple, Disney, Walmart, Costco, Coca-Cola are just some I can think of off the top of my head.

I think it’s mixed, there are many founders that fail as we explained with the failure of small business, so just being an owner operator doesn’t seem to make you a good manager.

Then there is all sorts of businesses that will struggle regardless of who runs them, and other that will succeed almost regardless of who runs them.

Then there is the middle ground where good management can make a real difference, and I think that’s mixed to.

 

[Value Hunter]

There is also the many companies that go on to be bigger and better after their founders die, Apple, Disney, Walmart, Costco, Coca-Cola are just some I can think of off the top of my head.

As Peter Lynch said "'Go for a business that any idiot can run – because sooner or later any idiot probably is going to be running it." A company with a strong sustainable competitive advantage can often still do reasonably well despite being run by idiot managers. Other businesses will go bankrupt if run by idiots. However every business will obviously do better than it otherwise would if run by good managers than by idiots.

 

[Value Hunter]

I think it’s mixed, there are many founders that fail as we explained with the failure of small business, so just being an owner operator doesn’t seem to make you a good manager.

Being an owner operator in and of itself isn't going to mean you are a good manager but the chances will be higher all else being equal because you are more incentivized plus you have more detailed understanding acquired from building the company from the ground up as opposed to some guy who just went to business school then worked his way up the management ranks.

Just like somebody who is very tall all else being equal has more chance of being good at basketball than a short person.

Most owner operators will be duds just like most hired CEOs but the ranks of top performing companies are overwhelmingly filled with owner operators. Hired CEOs are like politicans they generally don't take a long-term view on things, they are not thinking about what happens to the company 20 or 30 years from now.

 

[Dona Ferentes]

Who was with Donald Trump for his victory speech?

www.9news.com.au

Elon Musk​

The billionaire, who's been a massive part of the campaign and got billions of dollars richer on the back of it, wasn't physically on the stage but he was a huge part of the thank you speech.
Trump was gushing in his praise of the world's richest man, calling him "an amazing guy" and a "new star" before going into lengthy anecdotes about how he used his Starlink satellite internet service to help out North Carolina after Hurricane Helene and catching the Starship rocket booster.
"And it came down so gently and then it wrapped those arms around it. And it held it. And just like you hold your baby at night, your little baby," Trump said.
"And it was a beautiful thing to see, and I called Elon, I said, 'Elon, was that you?' He said, 'Yes, it was'.
I said, 'Who else can do that? Can Russia do it?' 'No'. 'Can China do it?'' No'. 'Can the United States do it? Other than you?' 'No, nobody can do that'
"I said, 'That's why I love you, Elon."

 

[JohnDe]

Who was with Donald Trump for his victory speech?

www.9news.com.au

Elon Musk​

The billionaire, who's been a massive part of the campaign and got billions of dollars richer on the back of it, wasn't physically on the stage but he was a huge part of the thank you speech.
Trump was gushing in his praise of the world's richest man, calling him "an amazing guy" and a "new star" before going into lengthy anecdotes about how he used his Starlink satellite internet service to help out North Carolina after Hurricane Helene and catching the Starship rocket booster.
"And it came down so gently and then it wrapped those arms around it. And it held it. And just like you hold your baby at night, your little baby," Trump said.
"And it was a beautiful thing to see, and I called Elon, I said, 'Elon, was that you?' He said, 'Yes, it was'.
I said, 'Who else can do that? Can Russia do it?' 'No'. 'Can China do it?'' No'. 'Can the United States do it? Other than you?' 'No, nobody can do that'
"I said, 'That's why I love you, Elon."

The USA is going to enter a new era of industrialisation; AI, space and robotics, self-driving cars, nuclear power, brain-computer interface, all will get a boost.

Who are the billionaires, business leaders who might shape a second Trump presidency?

Elon Musk isn't the only captain of industry who may play a role in the second Donald Trump presidency. Meet the others.

www.usatoday.com

 

[JohnDe]

For better or worse, it’s done. Let’s see what happens next.

 

[divs4ever]

For better or worse, it’s done. Let’s see what happens next.

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i am just not expecting a quick turn-around even if everything was started on Day one ( in January ) things will take time to work through

plenty of time for the hopium to fade

 

[JohnDe]

i am just not expecting a quick turn-around even if everything was started on Day one ( in January ) things will take time to work through

plenty of time for the hopium to fade

I think it will be quicker than most expect.

 

[farmerge]

I think it will be quicker than most expect.

View attachment 187872

Perhaps when Elon has sorted out the US of A he could then be seconded to Aus to do the same!!!!!

 

[divs4ever]

I think it will be quicker than most expect.

View attachment 187872

the BIG problem is .. a LOT of spending is not even transparent to Congress over-sight committees

chances are that $38 trillion debt is way under realities as previous governments have plundered money set aside in pension funds and trusts ( and probably stuffed them full of long-term Treasuries )

remember BOTH parties have been at this for decades ( and often pigeon-holed under ' national security ' )

 

[TimeISmoney]

the BIG problem is .. a LOT of spending is not even transparent to Congress over-sight committees

chances are that $38 trillion debt is way under realities as previous governments have plundered money set aside in pension funds and trusts ( and probably stuffed them full of long-term Treasuries )

remember BOTH parties have been at this for decades ( and often pigeon-holed under ' national security ' )

What about the Chinese trade surplus?

 

[divs4ever]

that is liable to go elsewhere , unlike Australia China is growing new markets

look at how all the sanctions on Russia are going , China will be watching , learning and adapting , very likely India as well

goodbye to space supremacy if Russia , China and India team up