Musk's acquisition of Twitter, how does the world's richest man think about the problem?

Written by James Altucher, a Wall Street investor

Translator: Wang Junqing

Today, Elon Musk announced that it will acquire Twitter for $44 billion (about 287.32 billion yuan).

How did the deal come about?

According to foreign media, in early April, Musk became Twitter's largest shareholder with a 9.2% stake. Subsequently, he declined an invitation to join Twitter's board and unexpectedly launched an offer to takeover on April 14. Musk, a big advocate of free speech, said that the acquisition of Twitter was not to make money, but because twitter "can neither promote nor serve free speech." ”

Twitter tried to block Musk's bid and even "threatened" to dilute the stake of anyone who bought more than 15 percent of the company's shares. However, as Musk revealed more financial details about the acquisition, Twitter eventually accepted Musk's acquisition agreement.

Musk said he would lead Twitter in a series of changes, involving easing content restrictions and rooting out fake accounts. He also mentioned the public Twitter algorithm, which makes the logic of content recommendation and blocking more transparent. "Free speech is the cornerstone of the functioning of democracy, and Twitter is a digital town square where people discuss issues that are vital to the future of humanity," Musk wrote in a statement.

Born in South Africa, Musk has since started many Internet ventures in the United States, pioneering well-known companies such as Pay Pal, SpaceX and Tesla. Musk is now the world's richest man, with an estimated net worth of $273.6 billion, According to Forbes magazine. However, at the recent TED conference, Musk said that he did not have any real estate and spent the night at a friend's house. His unique personality, philosophy and lifestyle have made Musk an idol in the hearts of many young people, with more than 80 million followers on Twitter.

How does Musk think about the problem? Wall Street investor James Altucher listened to most of musk's interviews, documenting musk's ideas and what he learned from them: "Maybe they don't inspire you, after all, inspiration sometimes carries some risk: it takes you out of a world you once knew, and shows you new ideas, new people, or something completely unexpected." ”

1 "If something is important enough, even if it's not a good thing, you should do it."

I couldn't help but wonder: What if it's something that's really impossible to do?

The things Musk thinks are, "Let's go to Mars" or "Let's build a $1 billion battery factory." ”

It sounds like an impossible thing, but it's tempting and worth exploring.

2 "I was thinking: 'Well, what other issues will have the greatest impact on the future of humanity?' And not from 'What's the best way to make money?' From that perspective. ”

On my podcast, I've interviewed more than a hundred people, and everyone has achieved amazing things, but in the process of doing things, none of them are for the purpose of making money.

I've spoken to Coolio,who wrote the best-selling song of 1995. But he began in 1977, writing lyrics every day, and it took him 17 years to succeed.

"Never do something for money," Coolio told me.

It's a subjective point of view, but to me, the principle is pretty "remarkable.".

3 "[Physics is] a perfect framework for thinking... Summarize some things into corresponding basic truths, and then start from there and slowly reason upwards. ”

My guess is that Musk isn't referring specifically to the physical sciences, theories, but to visualize something, first come up with an idea or theory to explain why it might be correct, and then figure out how to prove it.

For me, physics is actually like that. The rules are always changing, which is a very fascinating part of physics.

4 "Make sure something is feasible, and then the possibility of doing it will follow."

I often get confused about this: what is impossible?

Perhaps figuring out how to build a time machine is impossible. But if you're building an electric car, you can start with a hybrid car with a very efficient battery in its trunk so you never need the gasoline part.

It then becomes a situation where "probability" is paired with "probability."

5 "As long as you can control what happens in that basket, there's nothing wrong with putting all your eggs in one basket."

Many people think that starting a business is all about dealing with risk. In fact, the opposite is true. Good entrepreneurs don't learn from failure (the "chicken soup literature of failure", popular on the internet). Good entrepreneurs learn by solving the problems they actually encounter.

For example, Musk's control of the X.com's ultimate way out is not by destroying its competitors, but by merging with it. (Musk injected $12 million to set up a X.com when he started his second venture, and became a competitor in the online payment field with PayPal, and after a fierce competition, X.com merged with PayPal, with Musk as chairman.) ）

6 "It's extremely important to persevere, and you shouldn't give up easily unless you have to give up."

I've always thought it was a very magical equation: perseverance + love = abundance.

You have to love something enough to stick with it. Similarly, you have to hold out long enough to deepen your love. Abundance is a natural consequence. Not just for yourself, but for everyone.

For wealth always belongs to those who create wealth for others.

7 "Everyone fantasizes about a future where things are getting better and better, not a future that's getting worse."

This is extremely important. The news media is not really qualified to sell anxiety and paint a bleak future while selling their subscriptions. Entrepreneurs are the ones who will imagine a better world, and they will conceive of how to take a leap to get there.

8

"It's wrong to hire a lot of people to do a complex job. Those pointless numbers can never make up for a talent to actually do something well (two people who don't know how to do something are not much better than one), which not only slows down the progress, but also makes the cost extremely high. ”

“

When I was running a software company, we knew a truth: a great programmer needs to spend an evening solving a difficult problem. Conversely, 10 mediocre programmers take a month and will only end up making that problem worse.

9

"If you go back hundreds of years, the things we take for granted today look like magic back then. For example, you can talk to people over long distances, transmit images, fly, and access massive amounts of data like an oracle. These are all things that would have been considered magic hundreds of years ago. ”

“

Now imagine what it would be like today, 300 years from now.

"At that time, they had to use a network cable to 'connect' to the Internet!" Or "It took them 7 hours to get from New York to California!" ”

10 "Probably the biggest mistake I made was to place too much emphasis on one person's talents over that person's character. I think it's crucial if a person has a good heart. ”

“

I once saw a news story about a company whose revenue went from $1 billion to zero because one of its founders stole $90 million from the company.

Integrity, humility, and best effort are by far the three most important considerations when assessing whether or not to work for someone.

11 "When I was in college, I envisioned being involved in things that could change the world. Now I'm really involved. ”

“

I'm always confused by the phrase "change the world": Can one person really change another?

Perhaps the most precious starting point for thinking is to change myself as much as I can every day: to make my body healthier, to deal with emotionally healthy people, to create, to be grateful.

By doing so, maybe I can get off to a good start in changing the world.

12 "I think it's important to have a feedback loop where you can constantly think about what you're doing and how you're going to do it better." One piece of advice I think is most valuable: always think about how you can do things better and keep questioning yourself. ”

“

I invested in about 30 companies, and the companies that failed were mostly caused by the CEO slowly starting to make up his own mind.

Technology, competition, and customers are constantly changing. But we always have this cognitive bias that the activity we devote the most time to should certainly be a "great" activity, what can go wrong with such an activity?

Therefore, it is important to constantly question this evolution-based cognitive bias, and to constantly question it like an outsider.

Without this, businesses are doomed to fail.

13

"I wouldn't say I've never been worried, scared. In fact, I wish I had less fear because it would be very distracting to me and would also make me fall into anxiety. ”

“

A small amount of worry and fear can be inspiring. It would force me to make a backup plan. It is said that those multi-millionaires have seven sources of income, and they all have various backup plans in place. Even Musk owns Tesla, SpaceX, SolarCity and more than a dozen other companies he may be involved in.

When I make any effort, I always ask myself two questions: "What is my backup plan B?" "What is my evil plan?"

14 "Life is too short to withstand endless regrets and complaints. ”

I've always thought of me as the average of the five people who have spent the longest time with me.

So Musk's words are important to me. Don't waste time dealing with people who will stir up resentment on you. I try to spend time with those I love and those who love me.

15 "Don't be afraid of completely new territory. ”

Inspiration is a risk. That means stepping out of your comfort zone and exploring places you've never set foot in before.

As an exercise, I have to figure out at least one thing every day that is beyond my comfort zone.

I once spoke with Noah Kagan and he made a simple suggestion: The next time you go for coffee, ask them for a 10% discount at their checkout.

It may sound a bit earthy compared to planning a spacecraft to Mars, but it still makes me nervous when I actually try to do it.

It's a great attempt, and maybe the next time you break out of your comfort zone is to start your journey to Mars.

16 "I think that ordinary people can also choose not to be ordinary. ”

Reading this sentence, I seriously thought about it, I think ordinary people can also remain ordinary, how beautiful it is to be ordinary. But I also think that every day is worth trying, such as in terms of physical health, emotional health, creativity and gratitude, to make yourself better, even if it is 1%.

Maybe the path to the extraordinary is thanks to the accumulation of that 1%, but don't put pressure on yourself, you must become extraordinary in the future, we can focus on the present, get better today.

17 "I either witnessed it with my own eyes or participated in it. ”

It is often said, "I missed a great opportunity" or "I came late." I think it's never too late to do what you love. What you love is always on the shore, open arms, waiting for you.

18 "Entrepreneurship is like swallowing glass and staring into the abyss of death"

People say, "I hate my work cubicle, I want to be an entrepreneur." ”

Entrepreneurship is a disaster. 85% of entrepreneurs fail, and failure is not fun at all, not to mention that you have to deal with all kinds of customers, employees and investors, who are your bosses.

I appreciate that Musk can do a lot of things at the same time, there are a lot of spare B plans, and any one startup will not occupy all of his thinking space.

19 "I want to die on Mars." It's just not crashing on it. ”

For this part, I highly recommend a book by Andy Weir, The Martian. The book was published at his own expense, acquired by a prominent publisher, and subsequently adapted into the film The Martian.

20 "The hardest thing is figuring out what questions to ask, and once you've done that, the rest is pretty easy. ”

This is part of Musk's favorite "Guide to the Galaxy."

I also love the book, and my favorite thing about it is that from a materialist point of view, all you really need is a towel, after which the universe will take over. (ps, hygiene is key.) ）

21 "I just want to retire before I get old, because if I don't retire before I get old, then I'll only cause more harm than well-being then." ”

"Retirement" is an interesting word invented by actuaries who come up with relevant social security by analyzing statistics.

I suspect Musk will never retire.

In fact, from a mortality perspective, the two most dangerous years of life are the year you were born and the year you retired.

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