King of Gossip Elon Musk: "It's okay to put all your eggs in one basket, as long as everything is under your control"

Unlike many other investors in the market, he owns many “hit” and unique businesses in completely new fields at the same time.

King of Gossip Elon Musk: “It’s okay to put all your eggs in one basket, as long as everything is under your control” – Photo 1.Although investors recommend diversification, Elon has made a fortune by centralizing his investment activities and then implementing good management of them to drive growth.

“It’s okay to put all your eggs in one basket as long as you control what happens to that basket,” he said.

Looking at the empire of Silicon Valley giants today, everyone sees a general expansion. Most of Elon Musk’s fortune is in electric car company Tesla stock, but the billionaire and Amazon founder Jeff Bezos are still battling in the expensive space race.

“Dose to eat a lot”The story of SpaceX begins when Elon Musk opposes the notion that rockets cannot be effectively reused. He outlined a million-dollar gamble, proving that going to space is possible based on the basic math of how rockets work and the cost of cheap raw materials.

He devoted a lot of effort and money to the space race. Photo: CNBC

It can be said that Elon Musk’s SpaceX has undergone a 20-year journey full of energy, from the doubts of only 1% success to the step-by-step process of conquering new historical milestones. The seeds that Elon Musk, the madman or the great man, depending on the reviewer sown 2 decades ago, have actually grown into sweet fruit trees.

According to SpaceX, Starship is the most powerful and unique rocket ever because it can be reused. This means that the cost of orbiting will be significantly reduced, specifically saving about $ 10 million for every 100 tons of materials put into space. Musk thinks this is possible in a few years.

“We will build a lot of ships and rockets. The dream on the moon will soon be realized,” Elon Musk said.

Meanwhile, with Tesla, Musk also built the world’s largest electric car factory thanks to a strong belief that they can be made at an affordable price. Such thinking was in stark contrast to the prevailing notion at the time that EV batteries were too expensive to make ‘green dreams’ come true.

The great growth of the electric car company Tesla then turned Elon Musk into a billionaire. With a long list of achievements including revolutionizing the car industry and launching its own rocket into space, or most recently, the acquisition of Twitter. While this is controversial, there’s no denying that Elon Musk is often asked for his tips for success.

“If you believe in a zero-sum game, you think that the only way to get ahead is to take everything away from others. But it is wrong to think so. It’s better if you can create more than you consume,” Musk said.

Unfortunately, many people live in a zero-sum perspective without even realizing it. Based on Musk’s experience, the people he’s seen work unethically are often those who hold this view.

To change your mind, you should celebrate the success of others. There is no need to always compete with others and believe that resources are scarce. Using academia as an example, many see research as a zero-sum game. But by celebrating each other’s victories, you can get more people excited about AI, physics, and math. As a result, you will get more help from people. Everyone wins when all can help each other.

Know what to pay in investment feesThe rich also pay attention to something many others overlook: investment fees.

According to a study by the National Association of Retirement Planners, more than half of workers don’t know they’re paying for a retirement account at work.

However, those fees can eat away at your bottom line. “The more mutual fund fees or trading fees you pay, the less money you have in your pocket,” said Define Financial San Diego CEO Taylor Schulte.

Even small fees can make a big impact. If you invest $100,000 for 20 years and pay 1% annual fees, your portfolio value will be about $30,000 less than if you paid 0.25% annual fees, according to the U.S. Securities and Exchange Commission. SEC period.

Check your account statement to see what fees you need to pay. If they seem high, the SEC recommends asking if costs can be reduced or looking at other options.