![]() ![]() This was the first major milestone in the Elon Musk PayPal story. In March 1999, Musk incorporated his financial service site, which he named X.com. Using one or more of these four principles will open you to opportunities to create more inventive solutions.) Second, remain open to alternative ideas and criticism. This means any design or device that is created for convenience rather than because it adds value. In Smarter Faster Better, Duhigg explains the other two principles: First, shun clichés, since these ideas don’t feel authentic or meaningful. (Shortform note: Musk’s idea for X.com was the product of exploring a way to combine two ideas in a new way and of his frustration with a deficiency in the banking industry, which are two of Charles Duhigg’s four principles of “productive innovation,” or creativity. He decided to create a full-service online bank, complete with checkings and savings accounts, brokerage services, and insurance. Vance explains that he believed the banking industry needed to modernize and embrace new technology. He thought back to his bank internship and his frustration with the bureaucracy of the bank industry. Musk was ready to move on to his next venture. With money from the Zip2 deal and insight on how to manage a team. The Elon Musk PayPal story begins with a company called X.com. However, the PayPal executives weren’t too happy with Musk.Ĭontinue reading to learn more about the Elon Musk PayPal story. The company later merged with its biggest competitor which later became known as PayPal. The Elon Musk PayPal story began when Musk started a full-service online bank called X.com. What is the Elon Musk PayPal story? What was Elon’s role in the creation of PayPal and why was he forced to leave? Like this article? Sign up for a free trial here. Shortform has the world's best summaries and analyses of books you should be reading. This article is an excerpt from the Shortform book guide to "Elon Musk" by Ashlee Vance. ![]()
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