MGM102H5 Lecture Notes - Lecture 2: Elon Musk, Jim Pattison, Solarcity
Document Summary
Instant pot was the hot gift over christmas time. Channels of distribution was different than other traditional home appliance. Wasn"t in a rush, let it grow organically. Didn"t try to push it to market, let positive reviews and word of mouth create growth. When done this way, the user"s great experiences spread the word about how great it is, instead of marketing teams telling people they needed this. Isn"t a new product, just an improvement on ones that already exist. These companies grew because of their managers entrepreneurial mindset. Entrepreneur from 13 years old (selling computer games) Dropped out of school to start a company. Zip2 was his first company, purchased from him for 3 million dollars. He then founded x. com, was acquired by paypal and then purchased for 1. 5 billion. He then founded spacex and tesla afterwards. Later acquired solarcity and elon put it under tesla energy. Doesn"t see it as an end, always learn from it.
