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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Power Play summary
Tim Higgins
Tesla, Elon Musk, and the Bet of the Century
20 mins
Brief summary
'Power Play' by Tim Higgins is a non-fiction book that explores the rise of Tesla and its CEO, Elon Musk. It delves into the company's controversies, successes, and the key players who made Tesla what it is today.
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Power Play
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Key idea 1 of 6
Tesla Motors was founded in 2003 by Martin Eberhard and Marc Tarpenning.
In 2002, global warming was just beginning to enter mainstream conversation, but one Silicon Valley engineer named Martin Eberhard was paying attention. As a sports car aficionado, he recognized that his favorite rides were sucking up huge amounts of gasoline and contributing to global climate change.
He wondered whether he could design an electric car that would match the design and technology of beloved models like the Porsche 911. To make his dream a reality, he founded AC Propulsion to create an electric car known as the tzero, and invited another engineer, named Marc Tarpenning, to further its development.
Shortly after, in 2004, a budding investor named Elon Musk entered the picture.
Here's the key message: Tesla Motors was founded in 2003 by Martin Eberhard and Marc Tarpenning.
Musk was the young millionaire founder of Internet start-up PayPal, who had recently been ousted as CEO of that company. A devoted futurist, he had also recently founded the space transportation company SpaceX, and was chairman of the solar company SolarX. Critically, Musk had what Eberhard and Tarpenning needed: a daring vision that aligned with theirs – and a lot more money to back it.
Eberhart and Tarpenning pitched to Musk a company called Tesla Motors. Their pitch went like this: Tesla would make an entirely electric sports car with a two-speed transmission and slick interior – in other words, an electric car that could compete with the best sports cars in the world. They called it the Roadster.
Eberhard and Tarpenning planned to start by raising about $7 million, money they’d use to hire more engineers and fund the production of a handmade prototype. Over the next four years, they would seek more millions in investment to produce the car. In that time, they would build 565 Roadsters, selling each for $79,900. Not only would they make a tidy profit, they would also change the world.
Although Musk was skeptical about the overly simplistic calculations, he agreed that the Roadster could be the start of something monumental. He was so convinced, in fact, that he decided to gamble everything he had, ultimately providing $6.35 million of the $6.5 million initial investment. Eberhard and other small investors contributed the rest.
In exchange for this stake, Musk would become chairman. Eberhard became CEO, and Tarpenning president. But as it turned out, it was the principal funder who would lead the company forward.
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What is Power Play about?
Power Play (2021) tells the story of Tesla’s rise from overambitious start-up to one of the most valuable players in the global auto industry. It charts the company’s rapid rise, its operational and financial struggles, and the leadership of its volatile CEO, Elon Musk.
Power Play Review
Power Play (2021) by Tim Higgins is a fascinating exploration of the rise and fall of the automotive titan, Elon Musk. Here's why this book is worth reading:
- With meticulous research and in-depth interviews, it offers a behind-the-scenes look into the high-stakes world of Musk and his companies.
- The book delves into the intricacies of Musk's visionary projects, from Tesla to SpaceX, showcasing his relentless pursuit of innovation.
- Through its engrossing storytelling, it reveals the dynamic interplay of power, ambition, and risk-taking that shapes the modern business landscape.
Who should read Power Play?
- People interested in tech start-up history
- Auto industry and car aficionados
- Entrepreneurs interested in tech innovation
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Power Play FAQs
What is the main message of Power Play?
The main message of Power Play is that power dynamics shape the technology industry.
How long does it take to read Power Play?
The reading time for Power Play varies depending on your reading speed, but it typically takes several hours. The Blinkist summary can be read in just 15 minutes.
Is Power Play a good book? Is it worth reading?
Power Play is worth reading for its insightful analysis of power dynamics in the technology industry.
Who is the author of Power Play?
The author of Power Play is Tim Higgins.
What to read after Power Play?
If you're wondering what to read next after Power Play, here are some recommendations we suggest:
- Superintelligence by Nick Bostrom
- Liftoff by Eric Berger
- Lying by Sam Harris
- The Wealth of Nations by Adam Smith
- Life 3.0 by Max Tegmark
- Zero to One by Peter Thiel with Blake Masters
- The Beginning of Infinity by David Deutsch
- When the Heavens Went on Sale by Ashlee Vance
- The 80/20 Principle by Richard Koch
- The Big Picture by Sean Carroll