Summary of DEBUNKING ELON MUSK Pt1 (1080p)

00:00:00 - 00:25:00

This video debunks claims made by Elon Musk about his company Tesla Motors. The video uses evidence to show that Tesla's technology is not as advanced as Musk claims it is, and that the company is not profitable.

• 00:00:00 In this video, the common sense skeptic crew dismantles the claims made by Elon Musk that he is the richest man in the world. They point out that Musk's claims about his technologies being too good to be true and his attacks on other people are examples of his stupidity.
• 00:05:00 In this video, debunker Elon Musk takes on the myths surrounding his life and career. He argues that, contrary to popular belief, he is not a self-made billionaire, did not attend graduate school, and does not have an IQ in the high 150s.
• 00:10:00 In 1995, Musk created a global information network, Zip2, which aimed to convince businesses to create an online presence. However,Musk's work was later dismantled and he became upset. He demanded that the professional coders work the same insane hours that he did, but they were only willing to commit to 9-to-5. This led to Musk's reputation for being unreasonable to work for. In 1998, Musk made a deal with City Search to merge his company, Zip2, with theirs. However, he led a revolt against the CEO, Greg Sorkin, and the deal fell through. In 1999, Compaq offered Musk and his brother Corey a deal worth 305 million dollars. However, the brothers decided to sell Zip2 to COMPACT instead. This resulted in the layoffs of 10 of their workforce.
• 00:15:00 In the early 1990s, computer company Zip2 was acquired by Compaq for $300 million. As the company's stock price soared, the Musk brothers made out like bandits, with Elon adding 22 million dollars to his brother Kimball's 15 million dollar investment. However, in September 2001, HP acquired Zip2 for a final stock price of 12.35. Anyone who had bought and held Zip2's stock at its height lost 75% of their investment. In 2000, Musk founded x.com, an online banking company that failed to live up to its lofty expectations. Co-founder Bill Harris left shortly after the company was founded, and the three other original founders--Fricker, Payne, and Ho--all left soon after. As x.com's stock price plummeted, Musk was able to convince Mike Moritz of Sequoia Capital to invest in the company. However, Moritz saw through the company's facade and threw money at it anyway, while another company, E-Trade, was making headway in the online finance world. Fricker retired from his role as CEO of Stifel, Gabelli, and Mohn in 2012, having served for 12 years. After the Zip2 acquisition, Musk and
• 00:20:00 In this video, chaos and turmoil apparently ensued at least in part because of Elon Musk's copying of promotional models from a startup called Confinity. Paypal, which was released in July of 1999, almost a year before Musk and Harris had their falling out, was created by Peter Thiel and Max Levchin, and was gaining notoriety at the time. Musk was not the founder of the company that wrote Paypal, and the company was not even called PayPal when Musk is introduced as the founder of the company. When Musk became the CEO of Paypal, he fired the previous CEO, Bill Harris, and replaced him with Peter Thiel. The coalition of former Confinity board members, with the intent to dethrone Musk, voted to remove him from his CEO position in September of 2000. Musk himself became the target of the coalition, and was eventually fired from all roles in the company. Paypal rebranded itself to PayPal, and removed all traces of the x.com branding. The company went public in February of 2002, and eBay bought the company for 1.5 billion dollars.
• 00:25:00 This YouTube video debunks claims made by Elon Musk about the potential of his company, Tesla Motors. The video uses evidence to show that Tesla's technology is not as advanced as Musk claims it is, and that the company is not profitable.