ELON Musk’s words have gone viral once more – and this latest quote could shed light on his failed Twitter deal.
A few years ago, Musk shared with Fast Company his recipe for success.
Elon Musk’s words have gone viral once more – and this latest quote could shed light on his failed Twitter deal.[/caption]
And, according to the Tesla CEO, one of the most important ingredients is ‘failure’.
“Failure is an option here. If things are not failing you are not innovating,” Musk said.
The sentiment came as a shock to the millions who associate Musk with success and an enormous amount of wealth.
However, his latest Twitter deal can serve as an example of how this quote comes into play.
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The fight for Twitter
Musk made headlines this past April when he announced that was wanting to buy Twitter.
Months later, on July 8, 2022, Musk officially terminated his Twitter $44 billion deal, per Reuters.
Musk cites “material breach of multiple provisions of the agreement,” according to the news outlet.
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Since the news went public, Twitter fell six percent in extended trading.
Why would Elon let this deal fail?
Musk’s quote, which has recently been shared by thousands on Twitter, may shed some light on this.
Entrepreneurs often take risks to be successful – but just as important is knowing when to let go of a deal and accept the loss.
According to Musk, this loss, or failure, can oftentimes propel one to greatness.
While discussing Musk’s approach to success, Medium reported: “In the entrepreneurial world, many think that a failed venture means they’ve failed as an entrepreneur — which is far from the truth.”
“And while this fear of failure may be a driving force for a lot of entrepreneurs, it can also make a lot of people freeze. If you’re too scared to try something new, you may never reach your potential.”
With regards to Twitter, it seemed Musk’s demands weren’t getting sufficiently met by the shareholders.
And in this case, it seemed failure was an option for the SpaceX CEO – though only time can tell if he decides to go after Twitter again.
Marcel Schwantes writes for Inc. that by acknowledging failure, “you’ll be able to spot impending issues earlier and minimize the inevitable pain and suffering Musk describes.”
