Steve Jurvetson never sells a share of a company he invests in

TL;DR

Draper Fisher Jurvetson (DFJ) managing director Steve Jurvetson discusses his investments in SpaceX and Tesla, highlighting the risks and successes of backing bold innovations in the technology and space industries.

Transcript

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Key Insights

• 🥺 Investing in bold and risky innovations can lead to significant success, as seen in the cases of Tesla and SpaceX.
• 🎴 Machine learning and advanced algorithms will play a crucial role in the development of future technologies, including autonomous cars, robotics, and artificial intelligence.

Questions & Answers

Q: Why did Steve Jurvetson invest in Tesla when many others thought investing in a car company was risky?

Jurvetson saw the pragmatic path that Tesla had laid out for creating an electrified automobile industry and believed in their vision. Despite the risks, he saw potential for Tesla to prove that an electric car could be both high-performance and appealing to customers.

Q: How did Jurvetson deal with the near-failure of Tesla during the 2008 financial crisis?

Jurvetson and other investors rallied around Elon Musk's bold move to personally finance the company to keep it afloat. Other sources of capital eventually came in, and the company was able to overcome its financial difficulties and continue its journey towards success.

Q: What made Jurvetson believe that SpaceX could revolutionize the space industry?

SpaceX's strategy of using modular components and commercial off-the-shelf technologies, along with their successful launch of the Falcon 1 rocket, convinced Jurvetson that the company had the potential to make significant advancements in the space industry.

Q: How does Jurvetson view the future of robotics and artificial intelligence?

Jurvetson believes that the use of machine learning and advanced algorithms will drive the development of robotic technologies that far exceed human capabilities. He sees machine learning as the key to building products and services that feel like magic and that exceed human understanding.

Summary & Key Takeaways

• Steve Jurvetson invested in Tesla Motors and SpaceX, both of which faced near-death experiences but have gone on to become successful ventures in the automotive and space industries.

• When investing in Tesla, Jurvetson saw the potential for a pragmatic path to creating an electrified automobile industry, starting with the roadster and eventually expanding to other models.

• SpaceX's strategy of using modular components and proving the concept with the Falcon 1 rocket impressed Jurvetson, and he saw potential for the company to revolutionize the space industry.