Innovation and breaking new ground is the basis of entrepreneurship, but this is often limited to a single field or industry. However, some of the most iconic entrepreneurs, in terms of their mass appeal and status in the public eye, seem to transcend such limitations. They become the symbols of the emerging world of the future, by backing breakthrough ideas across multiple industries and applications.
Two entrepreneurs that meet these criteria, are Elon Musk and Richard Branson. Their impact on the collective imagination of our world, is nothing short of transformative. Rather than backing small improvements in the way things are done, and the sort of technology and services we are accustomed to, these two individuals have made a career of shooting for the moon.
Taking entrepreneurship to the next level
It’s not my contention that only these two gentlemen are the only ones leading the shift to a new, ambitious, and future-ready model of entrepreneurship. On the contrary, several innovations with the potential to completely transform our world are currently being gestated in very small startups, most of which we have probably never heard of.
However, every evolution in ideas seems to gather around a few figureheads, for better or for worse. It’s part of human nature to be inspired by others, and seek to associate our own ideas with those most visibly active, within the shift. From this perspective, Musk and Branson have emerged as the current torchbearers of a tech-led transformation of our world. Given the pace at which our world is changing, it is very likely that in a few short months, some other entrepreneurs might get identified with that evolution.
Despite the disclaimer in the previous paragraph, I do want to look at these two entrepreneurs, and how their journey reflects on the new innovation led world we are all a part of. As a teenager, Richard Branson started one of the first mail order LP record businesses in the UK, with what amounts to pocket change. In a journey of several decades, he became the CEO of a multi-faceted business empire – from such humble beginnings – eventually becoming the third oldest person to reach suborbital space, on 11 July 2021 – attaining a peak altitude of just over 86 km, for about an hour. Not just that, the company that initiated this maiden flight is called Virgin Galactic, indicating an ambition that far exceeds the current generation of technologies, by what is likely to be more than a century!
Elon Musk has a similar, if shorter, career graph. After his exit from Paypal, Musk has consistently escalated the ambition of the projects he backs. From electric cars, and distributed rooftop solar energy, he has moved on to ground based transport like Hyperloop, which can people and goods at speeds far exceeding that of passenger jets, at potential volumes that dwarf multi-lane highways, and a fraction of the energy consumption; and reusable rockets!
This is not a small leap. Every time the speed and volume at which we transport things and individuals increases, the world economy expands exponentially. Can you imagine the difference it would make to have a worldwide Hyperloop network?! Don’t forget that Eurasia and Africa are separated by a very small channel; and the Bering Strait is a small enough that our prehistoric ancestors crossed it, as genetics proves – thus allowing a short crossover between Eurasia, and the Americas.
Such a network would make it possible to travel almost anywhere in the world in around 3 or less, once Hyperloop achieves its highest projected speeds! Australia, New Zealand, and the Pacific islands would be the only regions it would take slightly longer to get to. Similarly, the Musk backed reusable rocket technology is a significant step, which will eventually prove to be a small initial step, in making humans a multi-planetary civilization.
Celebrating the mindset of gamechanging entrepreneurship
As I have pointed out before, there are several entrepreneurs developing tech on a tiny budget, right now, which will become hugely empowering breakthroughs, in upcoming decades. What makes Musk and Branson the current figureheads of this change are, both, the scale of their ambition, and the fact that they have some personal fame and notoriety, as ‘celebrity’ entrepreneurs.
In much the same way as sports champions spawn the next generation of achievers in their field; or musicians following in the footsteps of their heroes help form new aesthetics and genres; people like Musk and Branson will be the forerunners of the next generation of entrepreneurs, which thinks completely out of the box.
I’m just glad that we live in an era, in which ‘Rockstar’ status is being extended to entrepreneurs and innovators – often considered ‘dry’ and ‘boring’, in the past. This ‘hero-worship’ will have tremendous positive impact, in the coming few years.
