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Often times, many of us forget to look around and realize how lucky we are to have what we have. At a time when tensions are relatively high due to the current elections, a pandemic, and a string of bad luck that we have all embraced throughout 2020, there are some appropriate moments that allow us to look back and realize how really grateful we should be, even if things don’t look very promising.
A perfect example of this was November 3rd earlier this week. That day, just twelve years ago, we were reminded that Tesla had taken out a $ 40 million loan that kept the lights on and gave the small and improbably successful automaker a chance at success. It was “the last hour of the last possible day,” said CEO Elon Musk on Twitter. “We were 3 days before bankruptcy.”
The story of Musk and Tesla’s near destruction twelve years ago puts a lot into perspective. To me it is reminiscent of an old saying: “It is not over until the fat lady sings.” It’s weird, but it shows that anything can happen while there is still time.
Musk and Tesla attempted to build an auto company during what was arguably the most difficult time for American cars in the country’s history. Numerous companies sought government support to keep their doors open, jobs disappeared, and the once roaring American economy was crippled by the 2008 financial crisis.
Not only was it one of the worst financial times to start an auto company, but it wasn’t Tesla’s goal to build an ordinary gas car. It wanted to completely change the mood of a car in the United States. Battery-powered cars were neither popular nor widespread. They were a dream come true for many, but no one would have thought that they would soon be a successful source for passenger transportation.
Well, everyone except Elon Musk and his team of engineers at Tesla.
Musk frontally recognizes the needs of the time. “It’s extremely difficult to raise money for an electric car startup (which was considered super quirky at the time) while stalwarts like GM & Chrysler went bankrupt,” he added to his tweets chain. And while he suffered from keeping Tesla’s lights on, Musk concluded that the only way would be to put the last part of his money into the failing company. “I invested the last of my money even though I thought we would still fail. But for Tesla it was either that or certain death. “
A couple of years forward to 2017. Tesla is doing fine, but is working to accelerate the Model 3 mass production efforts. Eventually, Tesla worked on developing a battery, an electric vehicle that could meet the budgets of many people around the world – powered car with good performance and acceptable range. But it wasn’t easy and almost led to the company going bankrupt.
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When asked about the Model 3 ramp, Musk said Tesla was “about a month” away from going broke again. “The Model 3 ramp has been exposed to extreme stress and pain for a long time – from mid-2017 to mid-2019. Production and logistics hell,” added Musk.
A few years later, let’s take a look at 2020.
Tesla is the world’s most valuable automotive company. There have been five profitable quarters in a row. It comes from most deliveries and production figures for a quarter of all time. More gigafactories are being built.
Above all, Tesla influences the automotive industry. Companies that never believed in electric vehicles are forced to develop them. If they don’t, they will inevitably fall behind.
In all of the tough times and adversities that Tesla faced, it always got through. Tesla was an unlikely competitor entering a market with new technology at a time when companies were desperate to keep their doors open. He somehow survived.
At a time when the country is almost equally divided over who wants to rule the United States for the next four years, conflicting views on a global pandemic are regularly voiced and other social issues are discussed on a daily basis. It’s always important to remember stories like these. With an almost negative chance of winning, Tesla prevailed on two separate occasions. Patience, hard work, and a little luck brought the unlikely auto company from the depths of Chapter 11 to a superstar in the auto industry.
If that’s the only bit of positivity you read this week, I really hope it helps you realize how grateful you should be for the grand scheme of things. Sometimes the cards just aren’t in your favor and you have a couple of downturns that make you wonder if what you’re doing is right. The dark times are certainly tough, but without darkness the light would mean nothing to us.
I use this newsletter to share my thoughts on what is going on in the Tesla world. If you’d like to speak to me directly, you can email me or reach me on twitter. I do not bite, be sure to reach!
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