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Mr Z

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Medial • 2m

When Tesla was founded in 2003, Elon Musk wasn't even an employee. By 2008, Tesla was nearly bankrupt. Then Elon took over as CEO. 15 years later, they're worth $727 Billion. Everyone should understand how Elon brought Tesla back from the dead: 🧵 Let's rewind to 2003: Martin Eberhard & Marc Tarpenning founded Tesla Motors. They pitched to several VCs but no one was willing to invest in their crazy idea. After receiving numerous rejections from VCs, Martin and Marc first met Elon Musk during an annual space conference. Elon understood their vision instantly & invested $6.5M, becoming chairman. Tesla's first car, the Roadster, was a nightmare to produce. By 2007, Eberhard was ousted as CEO. And by 2008, Tesla was bleeding $4M monthly. Musk had two choices: Let Tesla die, or go all in. He chose the latter... Musk turned Tesla from a car company into a tech company. He open-sourced Tesla's patents in 2014. 2016: Acquired SolarCity (solar panels) And the market ate it up.

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