The engineers of SAEA are passionate about entrepreneurship and starting their own ventures. They have been inspired by engineers like Tesla CEO Elon Musk who use their technical skills to create not only a company, but a multi-billion dollar industry.
Elon Musk is an engineer, industrial designer, technology entrepreneur, and philanthropist. He is the founder, CEO and chief engineer/designer of SpaceX; co-founder, CEO and product architect of Tesla Inc.; founder of The Boring Company; co-founder of Neuralink; and co-founder and initial co-chairman of OpenAI.
During their discussion, SAEA members analyzed and assessed Elon Musk’s five rules to create a company:
- Work Super Hard: Musk used to work throughout the day and code every night while building his first business
- Provide a Great Product or Service: the product needs to be much better than legacy brands to gain customers
- Hire Great People: a company is a group of people gathered to create a product or service; the people will determine the success of the company
- Signal over Noise: don’t spend money on things that don’t make the product better; at Tesla, they invest in R&D instead of Marketing
- Take Risks: when you are younger, there is more opportunity for risk given fewer obligations