Published on Nov 8, 2015
Elon Musk sits with Ron Baron from Baron Capital Management at the Baron Investment Conference.

00:00. Introduction
03:50. Early days, motivation & oil industry FUD campaign
11:25. Birth and rise of Tesla
16:20. Huge Tesla factory
19:25. Tesla ambition – millions of cars
20:33. Gigafactory Government fundings
24:19. Gigafactory media incident
25:22. Battery technology outlook & costs
33:00. Tesla safety
40:13. SpaceX reusable rockets
44:15. Lyft vs. Uber
46:20. Model 3 driving experience
48:50. Charging locations

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0:00good morning
0:03my name is glad honey and I’m a research analyst at their in capital following to
0:11take an energy infrastructure sectors it is my distinct pleasure to introduce our
0:17next guest he’s a man who has been identified as everything from a
0:22supervillain to a superhero he doesn’t stop at changing our world as we know it
0:29he’s on a mission to change our galaxy Elon Musk
0:46company whose mission is to accelerate their worlds transition to sustainable
0:53transport in 2004 elam was a leading investor in Tesla’s first announced the
1:00ground and in 2008 when the company was near bankruptcy Elan became CEO in led
1:09its growth over five billion dollars of revenue today
1:18the company develop electric vehicles the roadster model S model ex the Model
1:28S has been described as a remarkable car that pays a new unorthodox course and
1:35it’s a powerful statement of American start-up ingenuity Model X which was
1:42recently launched has away time of over a year
1:48Tesla sold almost 200,000 vehicles electric vehicles to date
1:53test leads building a battery manufacturing plant codigo factory that
1:58will be ten times bigger than the largest Boeing facility producing
2:02Dreamliners interestingly Tesla is the largest battery consumer in the world
2:09surpassing consumer electronics companies like Samson and Apple you line
2:15is a scientist and inventor and designer and one of the world’s most innovative
2:22minds he’s helping to advance some of the world’s most disruptive technologies
2:27Tesla in the auto industry SpaceX in the aerospace industry and SolarCity in the
2:34power industry now please welcome elan and run for a conversation
2:46so when I started my career when I my first client told me that what was most
2:52important was finding someone who could realize degree make it happen and that’s
3:00been my whole career finding people in which to invest in whom to invest I was
3:04with Eric Schmidt recently he’s a chairman of Google and he’s one of his
3:09best friends and he was telling me that he regards Eli as a combination of water
3:15crisis there and Thomas Edison and I didn’t really know very much what walter
3:20Chrysler until I looked him up on google and and pretty dress you be compared to
3:25those two guys so so so again keeping with the hearing about investing in
3:31people so we’re investing in you and and and I think we’re talking about five
3:37billion dollars in revenues sure you believe this is just a very beginning so
3:42so I think it’s such a little bit before we get into the business on your
3:46background we started talking about that before so he came from South Africa your
3:51dad was an engineer and your mother my mother’s model and educationist and one
3:59of your brothers work with you to the first come together and so have you know
4:05I know I was also a founder of these games and the kind of games and then he
4:11was a founder of PayPal so the PayPal PayPal that’s old when public seven
4:17eight hundred million dollars though there Friday into eBay but ultimately
4:21fifty billion that presumably that has some impact on the way you think about
4:28actually I actually was against the sale I wasn’t the sale but I was always
4:38largest you know the time but only have like 12 percent as everybody else really
4:44wanted to sell so we went for doing that but I think I think we probably
4:49shouldn’t yeah
4:53so so he’s reading about your history and and we spoken before obviously and
5:01about your interest in space and sustainable transport and solar energy
5:06goes come from
5:08well when I was in college I thought about what would most affect the future
5:16of humanity and I want to be involved in those the some of those areas and I
5:23thought there P
5:24things today that I came up with that would really affect our future as a
5:30civilization one of them was the internet and the other was sustainable
5:38energy consumption of that and the third was making life multi planetary and
5:47therefore were genetics and an ally and I don’t think I’ve been involved in
5:57those areas but I just those who are in the abstract of what I thought it would
6:01affect things and going back a little further I actually didn’t really expect
6:09to be involved in creating companies when I was in high school or middle
6:15school I actually was sort of physics and nuclear physics
6:23understand more about the nature of the universe but then things like the
6:30superconducting supercollider got cancelled and I thought well you know
6:34like what if I’m stuck in a situation like that and then that’s like some
6:39active government basically stops things and then I would be a waste of their own
6:46when it when I think about the course and so obviously you know if you’re
6:52using hydrocarbons in burning
6:54and wrecking the environment makes it tough to the diner in few pointed out
6:59unless we adapt to start to read
7:02monoxide and so so so so that’s your effort there but yeah actually in
7:11college my interest in sustainable energy was really good at the time was
7:17was really from the standpoint of of essentially running out of hydrocarbons
7:23to minor burn so there’s there’s a limited supply of oil in the ground and
7:29eventually would have to transition to something that sustainable because what
7:36we’re doing well for the ground were essentially
7:39accumulates solar energy that was bound up in plants and animals and that over
7:46hundreds of billions of years was turned into you
7:49oil and and and that’s that’s also a finite and if we run out of that and
7:57don’t have a good solution then they would be economic collapse into positive
8:02environmental concerns and is there was actually what sort of initiative by just
8:07isn’t sustainable energy and sort of logical if energy needs to be
8:13sustainable if it’s going to last for long term and then over time it became
8:18apparent that there was there was actually even more pressing concern
8:22which is that we’re quite materially changing the chemical constituents of
8:26the oceans and atmosphere and the way that humanity has grown up around the
8:32world is that with so much to me about cities settlements of pounds right along
8:39the coastline and the world is quite sort of delicate
8:46industry chemical balance and so that if we do take
8:52billions of tons of co2 that was buried deep underground and has been since in
8:58most cases the Precambrian hero when the most sophisticated thing was like a
9:03sponge and that would be it would be about experiments run so so it seems so
9:09obvious and we have all these power companies to make all these cars every
9:13year to burn gasoline and nobody wanted to do it white light weight to it so
9:20obviously read evidence in exon was in the paper about the impact they have on
9:26the environment and they hit it just like the cigarette companies in 1866
9:33same playbook the crazy thing is I’d recommend reading the book merchants of
9:38doubt cause the actual explored sometimes I just such a few hours and
9:45sort of explored

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