Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future by Ashlee Vance- Book Summary - Readtrepreneur
(Disclaimer: This is NOT the original book, but an unofficial summary.)
Have you ever had fantasies as a child about the good battling the evil forces? Elon Musk was just like that but he took these fantasies seriously and acted upon them with his strong belief that he could change humanity's future with various innovations. He later become involved in creating futuristic cars and rockets and became the CEO of three successful companies.
(Note: This summary is wholly written and published by readtrepreneur.com It is not affiliated with the original author in any way)
"Failure is an option here. If things are not failing, you are not innovating enough" - Elon Musk
Elon Musk had big, great dreams since he was little and he jumped at every opportunity he could get to make his dreams come true. However, it was not easy and he met with many failures along the way. However, Musk remained positive nonetheless and never gave up his dreams. He overcame all the odds and is now an inspiring figure to many and an authority in the fields of automotive, space and utility.
P.S. Elon Musk was an eccentric man and getting his approval for writing his life story did not come easy. However, as you read this book, you will realise that there is a lot to learn about and from this amazing man.
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Chapter 1. Optimal Stopping – When to Stop Looking
One thing that makes life difficult is not knowing when to stop – this has been labeled as the Optimal Stopping Problem. There is a danger of quitting too early and missing out on something good, or quitting too late and exhausting the little energy and time that we have.
Thankfully, there is an algorithm that will make decisions much easier. It’s not entirely foolproof, but it will produce better outcomes than doing things randomly.
The Optimal Stopping Problem deals not with what option to select but how many choices to consider. Based on statistical data, the ideal percentage is 37%.
The Secretary Problem explores the idea of Optimal Stopping. Someone tasked to hire a secretary has to choose among applicants, but he must know when to stop so that he will not miss someone who is good for the job.
In looking for the secretary, stopping late means prolonging the choice unnecessarily, while stopping too early lets the best applicant go unhired. The strategy is to find a reasonable balance between the two conditions.
