I've watched Elon build SpaceX from a rented warehouse in El Segundo to a $1.75 trillion valuation. Every expert said it was impossible — too expensive, too risky, government would never allow it. Today it prices for the largest IPO in history. Never bet against Elon! Some lessons cost real money to learn.
“My proceeds from PayPal were $180 million. I put $100 million in SpaceX, $70 million in Tesla and $10 million in Solar City. I had to borrow money for rent.”
— Elon Musk
Elon Musk on Napoleon:
“One of the things I learned from Napoleon is that wherever the general is, that’s where the army does best. So if you’re the leader, you have to be at the most important place at the most important time. You have to be willing to go to the front lines. You can’t just sit back in safety and give orders. The presence of the leader has an enormous effect on morale and performance.”
Ron Baron believes @SpaceX will become the largest, most profitable company on the planet.
“We think it’s going to be worth $10T, $20T, or $30T. People in the company believe I’m lowballing it.”
I don’t see it any other way myself. Nobody else is doing what SpaceX is doing.
A lot of top bankers in 1929 made the equivalent of $100M a year working 6 hours a day.
I just read this in Andrew Ross Sorkin's new book, 1929.
- One guy's routine was wake up at 6, workout, get to the office by 10, and home by 5.
- Another took the whole summer off in Europe. The boat ride was 3 weeks each way.
I’ve read about other examples of super successful people like this. Andrew Carnegie barely worked, Ted Turner (who built CNN) would disappear 3 months at a time to race sailboats professionally.
But then today we see a lot of people talking about how hard work is necessary to do great things.
They likely grinded to get there. But it's important to know what season you’re in.
Don’t compare your spring to someone else’s summer.
There are seasons to grind, and then there are seasons to rest.
one of the quotes i find most inspiring on a hard day:
"Whatever your hand finds to do, do it with all your might, for in the realm of the dead, where you are going, there is neither working nor planning nor knowledge nor wisdom"
Ecclesiastes 9:10
Marc Rowan has quietly built Apollo from a distressed-focused private equity firm into one of the most important financial institutions in the world, now managing over $1T in assets and becoming the largest provider of retirement income globally.
In this fantastic conversation we covered lessons at Drexel from Michael Milken, Apollo’s origin story from a cold call from France, why AI could outgrow venture equity, and Apollo’s “play to win” culture.
We also connected over our shared belief that “Opportunities live between fields of expertise.”
This was really fun, hope you enjoy! cc @apolloglobal