The name Elon Musk is quickly becoming familiar to most households. This is because of his involvement with the technology industry through Tesla Motors Inc (NASDAQ:TSLA) and SpaceX.
Mr. Musk is the Chief Executive Officer for both companies, and the two have had significant influence in the tech industry, especially in the recent past. Tesla quickly rose to fame due to its venture with electric automotive technology. The company is currently viewed as the leading automotive company when it comes to luxury electric motor vehicles through the famous Tesla Model S. SpaceX on the other hand was recently in the spotlight after one of its space shuttle exploded midflight.
The space exploration company had partnered up with NASA to launch an unmanned shuttle to deliver resources to the International Space Station. The mission was rather unsuccessful. Aside from the negative event that took place, Mr. Musk has been at the center of modern technology. One might view his work as competitive compared to other firms, but there are different angles to look at it.
Tesla is in the automotive business but is also planning to expand its venture to the electric storage industry. Most power providers, particularly in the United States, might not be happy with the situation. However, for Musk and his team, it is not a competition, but rather a way to overcome the technological barriers by building new infrastructure and technologies. Many analysts feel that the company is in its right element with the pursuit of alternative energy solutions.
Partnerships between Tesla and other firms in conjunction with its head start give it an added advantage over the competing firms. SpaceX has also been kind enough to venture into partnerships with NASA and Microsoft Corporation (NASDAQ:MSFT). The later had planned to use its Hololense devices for research and development in the space mission.
Musk’s businesses are oriented towards pushing resources to new heights rather than beating the competition. His effective resource utilization promotes competition as an added benefit.