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How Elon Musk was inspired to found Tesla, SpaceX after being fired from PayPal
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Tesla CEO Elon Musk has a long list of failures, but they’re all just a part of his success.
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In 2005, he told Fast Company that at SpaceX, his private aerospace company, failure is expected.
“There’s a silly notion that failure’s not an option at NASA,” he told the magazine. “Failure is an option here. If things are not failing, you are not innovating enough.”
In fact, one significant failure — one that eventually led him to found SpaceX — was when he was ousted from his position as the CEO of PayPal.
ELON MUSK’S BORING COMPANY COMPLETES UNDERGROUND TUNNELS IN LAS VEGAS
In 1999, Musk started an online financial services company called X.com. The company eventually merged with a competing financial company co-founded by Peter Thiel to create PayPal in 2000, according to Business Insider.
Though Musk was named as the CEO of merged companies, his time in the role was short-lived.
Business Insider reported that in October 2000, Musk wanted to switch the PayPal servers from a Unix platform to a Microsoft Windows platform, but the other cofounders didn’t like the idea.
While he was on his way to Australia for a vacation, Musk was fired by PayPal’s board.