I organized an intervention to stop Elon from starting SpaceX. Here is the story...
Twenty five years ago, Elon and I sat in a car on a dark stretch of Long Island highway, two neurodiverse geeks staring at the night sky and wondering what came next. We had both experienced substantial exits and felt the weight of possibility ahead of us.
When I joked about 'space' while gazing upward, neither of us imagined we were planting the seed for what would become the largest IPO in history. We spent the next two hours debating why space was so hard. In the end, rockets are fuel and metal. We also debated where to go, and it was crystal clear that Mars was the only real destination.
Upon returning to NYC, we embarked on a global tour of space, meeting space agencies and luminaries worldwide. This opened our eyes to an industry stuck in bureaucratic thinking. If things continued at that pace, it was clear that we would never explore space in our lifetime.
So, we launched Life to Mars to show the world that two ambitious young men (29 and 30 years old), could send life to Mars without any government backing or support. We planned to send and grow plants on Mars, though some were pushing us to send mice.
We had a $50 MM budget that rested on our purchase of two Russian ICBMs for $7 MM each. We assumed one ICBM would fail, and we would learn and fix everything before launching again. When Elon went back to actually buy the ICBMs, the Russians tripled the price, bringing out launch costs from a total of $14 MM to $42 MM.
Our ambitious Life to Mars plan was no longer viable.
As you might imagine, Elon was not pleased. So, he decided to start SpaceX and create his own Mars rockets. Now, this is a crazy idea, both now and at the time, so I organized a large panel of top space experts, and we ambushed him at the Georgian Hotel one morning. It was set up like an intervention for an alcoholic, but for space.
Elon looked me in the eye when leaving the room and said, "I am going to do this." The intervention failed. Elon was committed. The rest is history.
I am excited to see this IPO after 25 years of hard work. What SpaceX has done is a testament to human will and overcoming insurmountable obstacles. It's nothing short of amazing.
Congratulations, E. Amazing.
True, when we were stuck in traffic on the way back to NYC, Adeo asked me what I was going to do after PayPal/X and I said I always wanted to do something to advance space, but didn’t think there was anything private individuals could do.
The origin of SpaceX was doing a philanthropic mission to get the public excited about life on Mars, so that NASA’s budget could be increased to achieve that goal. There was no commercial ambition at the time.
The $50M was from the proceeds of the sale of PayPal to eBay.
After learning more about the limiting factors for humanity in space, it became obvious that the issue was a lack of advancement in rocket technology, in particular the failure to develop a fully reusable rocket, without which expanding consciousness beyond Earth is impossible.
Jeff Bezos reveals why compromise is one of the worst ways to resolve a disagreement
"An example of a really bad way of coming to agreement is compromise. If I say the ceiling is 11 feet and you say 12 feet, we say let's call it 11 and a half. That's compromise"
"The advantage of compromise is it's low energy. But it doesn't lead to truth"
"Another really bad resolution mechanism is who's more stubborn. Two executives disagree, they have a war of attrition, and whichever one gets exhausted first capitulates. You haven't arrived at truth, and this is very demoralizing"
"Escalation is better than a war of attrition. Escalate to your boss and say, we can't agree, we like each other, we're respectful, but we strongly disagree, we need you to make a decision"
"Exhausting the other person is not truth seeking. Compromise is not truth seeking"
Antonio Gracias lent Elon Musk $1 million in ‘08 to save SpaceX from bankruptcy for 7.2% of the company.
It’s now worth $90 billion, making it the single greatest investment in the history of the world.
People over focus on Musk and forget the wealth he’s created for others.
That was a short-term loan when I ran out of money in 2008. He did not receive any equity for it.
Antonio’s ownership stems from absolute support, even when it looked like SpaceX would fail, and many investments over 2 decades.
One could not ask for a better friend. He is a great man.
Crime can largely be addressed by harshly punishing violent repeat offenders.
Don’t let them become “career criminals” at the expense of innocent Americans’ lives and safety.
This applies to many niche skills. I didn’t learn astrophotography from school, I learned it by getting my hands dirty & spent every night learning how NOT to do it.
If you want to do something, just start doing it. Waiting for someone to teach you might leave you with nothing.
🇺🇸🚀 SOME NEWS: I'll be leaving my role at the White House at the end of this month. After a break I’ll be working on helping tackle some of the large challenges facing America on AI (more on that later).
It is hard to express how big a privilege it has been to serve the American people and how grateful I am to have had the opportunity to do so.
First and foremost, it has been an honor to serve under President @realDonaldTrump . Without his leadership, we would not be leading in the AI race.
Second, I owe a lot to the person I’ve worked mostly closely with over the last 18 months - @DavidSacks . His continuing advocacy for America winning on AI has been and continues to be crucial.
Some key public accomplishments from last year I’m proud of
1. Architecting and publishing the American AI Action Plan - charting the course for America to win on AI and helping execute on that for the last year.
2. The AI acceleration partnerships to help American AI stack win globally.
3. The National AI Policy Framework for Artificial Intelligence executive order (forming the basis for working with the Hill this year)
4. Advocating for the American AI stack with our allies globally (the AI summits in France and India, state visits to the UK, the Middle East and more)
So what’s next?
The past 18 months have given me a front row seat to this critical moment on AI facing America and our allies. Whether it is energy, data centers or a clear path for Americans to experience the benefits of AI, there are many tough issues we all need to navigate together. I plan on building institutions that help tackle some of those challenges for America and its allies.
I want to thank many others who have helped along the way in the administration : Kevin Hassett, @mkratsios47 , CoS @SusieWiles47 , VP @JDVance , @StevenCheung47 , Sec Bessent, Sec Lutnick, Sec Rubio and @jacobhelberg , @USWREMichael , Josh Gruenbaum, Watson Fagan, Ryan Baasch, Jeff Kessler, Alexei Bulazel, DepSec Landau, DepSec Dabar, Will Scharf, Taylor Budowich, @JamesBlairUSA , @elonmusk and many, many others. You know who you are and I know I’ll continue to see you a lot more.
Most of all, I want to thank @aarthir on supporting everything and being part of this unexpected but amazing journey from last January. None of this would be possible without her.
This journey has been the privilege of a lifetime and shown me how special this country is and how it needs all of us to contribute in anyway we can - and I plan on continuing to do just that.
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