Datasets:

Mattdoc99

/

ElonYTdata

like 1

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t30.0

I'll show you that I am, yeah, yeah, yeah I'm unstoppable, I'm a Porsche with no brakes

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t43.28

I'm invincible, and I win every single day Mine's so powerful, I don't need batteries

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t53.6

I'm so confident, yeah, I'm unstoppable today

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t60.160000000000004

You know, there are American heroes who don't like this idea.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t64.72

Neil Armstrong, Gene Cernan have both testified against commercial spaceflight and the way

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t70.56

that you're developing it, and I wonder what you think of that.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t75.12

I was very sad to see that, because those guys are, yeah, those guys are heroes of mine,

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t82.48

so it's really tough.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t84.32000000000001

When you had that third failure in a row, did you think, I need to pack this in?

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t91.44

Never.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t92.44

Why not?

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t93.44

I don't ever give up.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t94.44

You know, I'll tell you something.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t113.72

Every time I see that clip, it chills me, every single time.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t117.47999999999999

And I look at it a lot.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t122.08

So thank you very much for coming here.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t124.16

I know it's not convenient, it's not around the corner.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t126.32

I'm really appreciative.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t127.32

Absolutely.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t128.32

Thank you for having me.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t129.88

I was on a red-eye flight, so I'm a little slower than normal, just I didn't get much

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t135.2

sleep.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t136.2

You know, that's sort of my first question, is that, so you're 51?

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t143.84

Yeah.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t144.84

I'm not, no spring, I think I'm safely not a spring chicken anymore.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t149.6

Help, late summer chicken?

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t152.0

I'm 79.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t153.0

Yes, but you, I mean, you look great.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t158.28

So you're 51, and you do 16-hour days, and you work seven hours a week, and you fly all

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t165.64

over the place, and you go to these meetings constantly, and people constantly criticize

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t171.4

you for everything.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t172.4

It's amazing to me.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t173.4

I mean, you're changing the world, and you're giving yourself.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t175.44

Why do you do this?

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t176.44

So my wife says to me, why are you still working?

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t179.36

Why are you still working?

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t180.36

What are you doing here?

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t181.36

Well, I think what I'm working on has an important effect on the future.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t190.04000000000002

You know, in the case of Tesla, I think it's fair to say that Tesla has significantly accelerated

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t198.16000000000003

the advent of sustainable energy.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t201.88000000000002

You know, before Tesla, no one was doing electric cars, and now, as a result of Tesla, I think

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t208.68

almost every major car company in the world is building electric cars, and I think that's

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t217.20000000000002

a pretty big deal.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t218.20000000000002

But there's still a long way to go to transition the world to a sustainable energy economy,

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t224.4

and so we still have a lot of work ahead of us at Tesla, but that's our goal there.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t230.4

And then for SpaceX, I think it's important for the future to be exciting, and for humanity's

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t237.84

existence to be ensured over the long term, I think we must become a multi-planet species

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t244.16

and a space-bearing civilization.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t247.32

You know, I think we're here like four and a half billion years after Earth got started,

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t260.24

13.8 billion years into the age of the universe, and it's only now, recently, in the last five

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t267.64

thousand years that we even invented writing.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t270.71999999999997

I would say date the first civilization by when there was the first writing, which was

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t277.68

in ancient Sumeria around five or six thousand years ago.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t282.88

So we've basically just been here for a very brief instant.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t287.71999999999997

A blink.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t288.71999999999997

All of human civilization is a blink of an eye, if there was an eye, on an evolutionary

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t296.68

time scale.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t298.24

So I think it's important we take the actions to ensure that the light of consciousness

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t302.92

continues, because we should really view consciousness as a small candle in a vast darkness, and

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t312.32

it can easily go out.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t314.24

So you have these missions, and somehow, whenever you have a mission and you have this vision,

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t321.56

and you are a visionary, that somehow, whatever you do, you develop other businesses.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t327.44

So when you started SpaceX, you didn't think about satellites.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t331.4

When you started Tesla, you didn't think about robots.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t334.48

When you don't have enough people, you didn't think about robots.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t339.04

So you didn't think about autonomous driving.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t341.8

And without Elon, there would not be electric cars.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t345.52

Nobody who makes cars wants to make electric cars.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t347.76

They're being forced to make them.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t349.12

In fact, every time they sell an electric car, they sell one fewer car that they make

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t354.72

money on.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t355.72

And they have all that money invested in plants that make those other cars.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t359.32

So nobody wants to have these cars except for him.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t362.32

And everybody thought it was going to fail.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t366.4

And one of the things you said is that patents are for the weak.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t371.32

And you share your patents.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t373.52

And with other companies, of course, on the other hand, when they get your patents, you're

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t377.92

two or three years ahead of them.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t379.84000000000003

Well, I mean, I was joking about patents for the weak.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t384.04

I think there is a role for patents.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t385.84000000000003

Let's say if some company has spent a lot of money developing a particular medicine

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t391.48

and had to go through the expense of stage three medical trials, and then they finally

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t397.16

get something that is approved, but where the drug itself is cheap to manufacture, then

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t402.6

I think a patent in that case makes sense.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t404.56

Otherwise, no one would go to the trouble of doing stage three medical trials.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t409.4

There are definitely roles for patents.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t411.32

In the case of Tesla, our goal is to advance sustainable energy.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t417.12

And so we can't just do it by ourselves.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t421.52

We need the whole industry to go that way.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t423.72

So we gave them our patents for free in order to help them accelerate electric vehicles.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t430.44

So it must be terrifying to other companies to realize that when we make cars, it's $39,000

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t436.88

in cost a car, and we're making $15,000, $16,000 in profit a car.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t443.0

And so we invest $7 billion, and we make $15 billion a year.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t448.12

I'm sorry.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t450.12

Yeah.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t451.12

15, right.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t452.12

A million cars, $15,000, 15 million a year on a $7 million investment.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t459.8

It's shocking.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t460.8

So no one else does that.

Ron Baron Interviews Elon Musk at the 29th Annual Baron Investment Conference

https://youtu.be/E-squeb0YJA

E-squeb0YJA-t462.28000000000003

And here you're telling us how you want to make cars for $20,000 a piece.