How do you manage to run multiple business ventures at the same time? And your advice to aspiring entrepreneurs?
<p>You need to have had a success in one venture. You need startup and business experience. You can’t start 5 start-ups when you’ve never managed to run one successfully.<br />
You need access to enough funds. It’s hard enough for entrepreneurs to get funding for one startup, let alone 5. It’s only when you feel you have more than enough funds to optimally grow one business should you consider starting another.<br />
You need to have a highly-vested CEO to run each venture - this vesting has been our magic formula. The CEO’s in our ventures get paid peanuts. Instead, they get sweat equity, and they’re happy to do that because they believe in themselves and their venture. These CEO’s do the driving.</p>
<p><em>Managing multiple ventures clearly works. Elon Musk manages SpaceX, Tesla, Hyperloop, SolarCity, OpenAI, The Boring Company, Neuralink, all at the same time.</em></p>
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