#928 Elon Musk Is The Greatest Entrepreneur Of All Time

In today's episode, I break down Tesla's recent earnings report and explain why Elon Musk is the greatest entrepreneur ever. ======================= Exodus is leading the world out of the traditional financial system by building beautiful and user-friendly blockchain products. With its focus on design and user experience, Exodus has become one of the most popular and loved cryptocurrency apps. It’s supported on both desktop and mobile, allowing you to sync your wallet across multiple devices so you can have access to your funds anywhere. You can instantly exchange around 100 different cryptocurrencies straight from your wallet. Interactive charts let you view an asset’s price history and your portfolio’s performance over time. And maybe the best part, Exodus is integrated with the Trezor hardware wallet - making advanced security easy for everyone. Visit exodus.com/pomp for your free download or search Exodus on the App Store or Playstore. ======================= Today’s episode is sponsored by Abra. Based in California and backed by top VC firms, Abra is an all-in-one simple, secure app that allows you to trade over 110 cryptocurrencies, get 0% interest loans using your crypto as collateral and earn interest with up to 14% APY on stablecoins and 8.15% APY on Bitcoin. Join nearly 2 million users by downloading Abra from the Google Play or Apple App store. If you download the app today, you will get $15 in free crypto once you fund your account. You came, you invested — now conquer. ======================= DeFi Technologies represents what’s next in the digital economy -- providing simplified, trusted access to crypto, decentralized finance and Web 3.0 investment opportunities. Institutions and investors can gain diversified, secure, compliant, and easily tradable access to a diversified set of industry-leading equity products and protocols, through a single stock purchase on a regulated exchange. Currently listed on U. S. (OTC: DEFTF) and Canadian (NEO:DEFI) exchanges. For more information or to subscribe to receive company updates and financial information, visit our website at http://defi.tech =======================

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:02Anthony Pompliano?

  What's up everyone, this is Anthony Pompliano. Most of you know me as Pomp. You're listening to the Pomp Podcast, simply the best podcast out there. Now let's kick this thing off. Today's episode breaks down why Elon Musk is probably the greatest entrepreneur of all time. Obviously, there's lots of people who hate on Elon, but if you look at the data, it's pretty indisputable. I really enjoy recording these solo episodes and I hope you enjoy them as well. Before we get into this episode, though, I first want to talk about our sponsors. Today's episode is brought to you by Exodus, the world's leading desktop, mobile, and hardware crypto wallet. They offer beautiful, user-friendly blockchain products that sync across all of your devices, making it easier to send, receive, and exchange over 150 or more crypto assets in one place. And with world-class customer service available to

• 0:46Anthony Pompliano?

  you 24/7, Exodus always has your back. But the fun doesn't stop with staking and trading. They recently launched a new NFT marketplace where you can buy and sell your favorite NFTs on the Solana network. By partnering with the popular NFT platform, Magic Eden, they're offering the full Monty on verified collections with more added every single day. Ready to check it out for yourself? Run, don't walk. Over to exodus.com/pomp for your free download today. Again, if you want the world's leading desktop, mobile, and hardware crypto wallet, go to exodus.com/pomp today. Today's episode is sponsored by Abra. They're based in California and they're backed by top VC firms. Abra is an all-in-one, simple, secure app that allows you to trade over

• 1:28Anthony Pompliano?

  110 cryptocurrencies, get 0% interest loans using your crypto as collateral, and earn interest with up to 13% APY on stable coins and 7.15% APY on Bitcoin. You can join nearly 2 million users by downloading Abra from the Google Play or Apple App Store. If you download the app today, you will get $15 in free crypto once you fund your account. You came, you invested, now conquer. Abra, conquer crypto. Go check it out today. This episode is brought to you by DeFi Technologies. DeFi Technologies represents what's next in the digital economy. They're providing simplified, trusted access to crypto, decentralized finance, and Web 3 investment opportunities.

• 2:10Anthony Pompliano?

  And investors can gain diversified, secure, compliant and easily tradable access to a diversified set of industry-leading equity products and protocols through a single-stock purchase on a regulated exchange. DeFi Technologies is currently listed on the US Exchange at DEF TF Stock Ticker and the Canadian NEO Exchange at DEFI. For more information or to subscribe to receive company updates and financial information, visit their website at defi.tech. I'm really excited about what these guys are doing. I've become an advisor to the business, and I highly suggest you go check them out. Go to their website at defi.tech today. All right, let's get in this episode. I hope you guys enjoy this one.

• 2:50Speaker 01

  Anthony Pompliano runs Pomp Investments. All views of him and the guests on his podcast are solely their opinions and do not reflect the opinions of Pomp Investments. You should not treat any opinion expressed by Pomp or his guests as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his personal opinion. This podcast is for informational purposes only.

• 3:13Anthony Pompliano?

  Good morning, everyone. Bang, bang. Electric vehicle company Tesla has been the source of insane controversy for years. The critics believed the company would fail and file for bankruptcy, and the proponents thought that Tesla would be the most valuable company in the world. This type of polarization is exactly what you would expect from a company that's trying to change the world with disruptive technology. As many of you already know, Tesla reported their Q1 earnings yesterday, and they drastically outperformed Wall Street's expectations. They had earnings of $3.22 a share versus the $2.30 a share that was expected. Anytime a company can produce $5 billion in adjusted EBITDA and more than $3 billion in GAAP net income in a single quarter, they're likely to be quite valuable. The most shocking statistic isn't about their financial performance exclusively,

• 3:58Anthony Pompliano?

  though. Tesla has done all of this without any money devoted to marketing. As Gary Black so eloquently pointed out, the most informative chart in the first-quarter earnings deck? The day after the 2022 Super Bowl, Tesla orders surged, which validates the thesis that competitors advertising their new electric vehicles helps Tesla as the electric vehicle market leader the most. Elon then pointed out in response saying that they have a $1 trillion valuation with $0 advertising spend. So Elon Musk and the Tesla team have built a $1 trillion company, yet they spend no money on marketing. Even better, Tesla's sales jumped significantly when their competitors run television ads or marketing campaigns for electric vehicles. It's pretty wild.

• 4:42Anthony Pompliano?

  But while all eyes were on Tesla yesterday, there was another announcement that is worth paying attention to. The Boring Company, a technology company quickly building tunnels underneath cities, announced a $675 million Series C fundraiser at a $5.675 billion valuation. The company's press release states that "The Boring Company creates safe, fast-to-dig, and low-cost transportation, utility, and freight tunnels." The description of their technology is also fairly interesting as well. They say that their mission is "to solve traffic, to beautify cities, and to enable rapid point-to-point transportation." As I was reading the press release, it reminded me of this amazing story about the sense of urgency that Elon and his team operates with. David Perel, back in 2020, tweeted out, saying that Elon Musk once asked his team how long

• 5:26Anthony Pompliano?

  it would take to start digging a tunnel. They said two weeks. He replied, "Let's get started today and see what's the biggest hole we can dig between now and Sunday afternoon, running 24 hours a day." Two hours later, there was a hole in the ground. So this brings us to the ultimate question. Is Elon Musk the greatest entrepreneur of all time? That may sound bombastic or a statement of hyperbole, but think about this for a second. Elon Musk is the wealthiest man in the world. He has built four multi-billion dollar companies and a fifth company worth more than $1 trillion. We don't know the exact valuation of a sixth company, Neuralink, but they've raised over $200 million, so it's likely they're worth at least a billion as well. Here are the companies and their valuations. Tesla is over $1 trillion. SpaceX, over $100 billion.

• 6:11Anthony Pompliano?

  PayPal, over $100 billion. The Boring Company, $5.6 billion. SolarCity, $2.6 billion. And Neuralink, a billion dollar valuation or so. This type of economic value creation is insane. Basically, video game numbers. And you can trace it all back to one man, Elon Musk. So does this mean he is the greatest entrepreneur of all time? Probably. Does it really matter? Probably not. The most impressive part of this whole thing is that the best investment strategy of the last two decades was to simply bet on Elon. It isn't every day that an entrepreneur with this type of skill, persistence, and success comes along. Investing can be hard, as hell sometimes. And other times, you just have to find the right person and keep doubling and tripling down on them.

• 6:54Anthony Pompliano?

  While a good portion of the world keeps hating on Elon Musk, I'll continue to cheer him on. We need as many entrepreneurs and problem solvers in our society as we can get. Elon is a shining example of how private enterprise can help solve some of the society's greatest issues. Plus, we shouldn't think Elon Musk is done yet. He may actually just be getting started. Grant Nisley pointed out that Warren Buffett accumulated 99% of his wealth after his 50th birthday, according to Morgan Housel. Elon Musk is only 50 years old today, and he's already worth 250 billion. If he continues to compound, we're just getting started with the Elon story. Hope each of you has a great start to your day, and I'll talk to everyone tomorrow. Thanks so much for listening to today's episode. I really hope you guys enjoyed this one. Make sure you subscribe on Apple, Spotify, or your favorite podcast player.

• 7:39Anthony Pompliano?

  And if you're looking to try to transition to get a new job in the Bitcoin or crypto industry, we've got you covered. Head over to pompscryptocourse.com. We've developed a curriculum with the top teams across the industry. It's a three-week intensive training program with over 50 events packed into that three-week time period. Go to pompscryptocourse.com to learn more, and I'll meet you guys for the next episode.