Elon Musk Gave SpaceX Less Than 10% Chance of Succeeding

Summary

Elon Musk reflects on the founding of SpaceX, stating he originally believed the company had less than a 10% chance of success. He explains that despite the low odds, he took the risk because no established aerospace company was pursuing the technology needed to make humanity a spacefaring civilization.

• Elon Musk revisits SpaceX's humble beginnings in a warehouse in El Segundo.
• He recalls giving the company less than a 10% chance of succeeding.
• Musk argued that existing aerospace companies were not pursuing multiplanetary technology.
• The SpaceX mission was to turn science fiction into reality and make life multiplanetary.
• The comments are historical and do not contain forward-looking investment guidance.