FAILING FORWARD 002: Lessons from Elon Musk’s Entrepreneurial Setbacks

Elon Musk is the epitome of ambition—a relentless visionary who constantly pushes the boundaries of possibility. But even the most daring dreamers sometimes stumble. While Musk is celebrated for his monumental successes, not every venture has soared to the heights of Tesla or SpaceX. Let’s delve into these ten failed or struggling ventures and remember the Nigerian saying: “Èébú ò p’óko mó. Ohun tó bá sùn, ó máa jí”—“Failure does not kill the farmer. What sleeps will surely wake up.” True entrepreneurship lies in rising from each setback, armed with lessons learned and a stronger resolve.

Musk’s vision for X.com was to revolutionize online banking. However, it quickly ran into technical and organizational challenges. Although X.com eventually evolved into PayPal, a hugely successful payment platform, Musk was pushed out as CEO before its triumph. He had to watch from the sidelines as others built upon his initial vision. In the Yoruba language, there’s a saying: “Adìẹ f’ókàn tan ara rẹ̀, kó máa wò’lé lásán ni”—“The chicken that deceives itself only wastes its own time.” Sometimes, our greatest ideas may not come to fruition exactly as we envision, and we must be prepared to let go for greater outcomes.

Zip2 was Musk’s first startup, designed to offer online city guides for newspapers. Though it sold for nearly $300 million, Musk didn’t have the opportunity to see his vision fully realized due to the company’s early sale. This experience reminds us that success may arrive, but not always in the form we expect. As the Nigerian proverb says, “Person wey get pot, no fit cook soup; na another person dey chop am!”—“The person who owns the pot may not be the one to cook or eat the soup.” Sometimes, we lay the foundation for others to enjoy the rewards, teaching us humility and the value of contributing to a bigger picture.

Musk established the Musk Foundation with philanthropic intentions, yet the organization has faced criticism for a lack of clear, impactful outcomes. It’s a reminder that, like in business, charity demands careful planning, transparency, and sustained effort to make a genuine difference. The Yoruba have a saying for this: “Ajá tó fi ara t’àlàáfià je àjò, kò ní’le sùn”—“The dog that enjoys the journey without focus will find no place to rest.” True philanthropy requires more than just grand ideas; it calls for commitment and the discipline to see them through, or else it risks becoming ineffective.

Acquired by Tesla, SolarCity was Musk’s effort to revolutionize the energy market with solar technology. However, it faced financial struggles, legal battles, and criticism for how the acquisition was handled. The Yoruba proverb, “Àgbà tó mọ pé òdòdó kìí gbó igbógbó lówó rè”—“An elder who values integrity will not allow weeds to overshadow his garden”—captures the idea that sometimes, the way we handle our responsibilities can affect our reputation. SolarCity’s challenges show the importance of foresight and accountability, especially when steering a company through difficult transitions.

The Hyperloop, a high-speed transportation concept introduced by Musk, captivated the world with its futuristic promise. However, it has been beset by technical, financial, and regulatory hurdles, with many questioning its feasibility. This illustrates the Yoruba wisdom: “Ko si agbara to ko ni ojuti”—“No power comes without its own shame.” Even the most powerful ideas face criticism and setbacks. Musk’s Hyperloop journey reminds us that ambition must be tempered with patience, as challenges are an inevitable part of pushing boundaries.

Musk co-founded OpenAI to advance artificial intelligence, but he later left the board, citing concerns about AI’s trajectory. His departure raised questions about how his involvement might have influenced OpenAI’s future. The Nigerian saying, “If you dey fear tomorrow, you no go chop today!”—“If you are too afraid of tomorrow, you won’t enjoy today”—reflects the necessity of balancing caution with action. Musk’s decision highlights that sometimes, we must make difficult choices, even if it means leaving behind something we helped build.

Musk’s grand vision of colonizing Mars has fascinated millions, but experts remain skeptical about the technical and logistical challenges involved. The Yoruba proverb, “Omi tán láti’ra, kò tán láti lálà”—“The water may dry up from the well, but the dream remains”—captures the resilience of a powerful dream. Even if Musk’s Mars colonization plans are delayed, the vision endures, inspiring others to think beyond earthly limits. Ambitious dreams require time and determination, reminding us that setbacks are just part of the journey.

Musk launched The Boring Company to tackle urban traffic issues through underground tunnels. However, regulatory delays and public opposition have hindered its progress. “If na only yam you get for farm, no go invite people come chop fufu!”—“If all you have is yam, don’t invite people to eat pounded yam”—teaches us the importance of managing expectations and not overpromising based on limited resources. Sometimes, our vision may need to be scaled back or re-evaluated in light of practical realities.

Tesla’s first car, the Roadster, faced numerous production delays, cost issues, and performance criticisms, nearly pushing Tesla into bankruptcy. The Yoruba saying, “Àgbàlagbà kò s’èrí, kíkú lon jẹrù wò”—“The elder does not rush; he carefully watches the path”—reminds us that patience and persistence are essential when tackling monumental tasks. Musk’s experience with the Roadster teaches that while pushing boundaries, we must exercise patience and endurance to see our vision come to life.

Neuralink, Musk’s ambitious project to merge humans with machines, has faced numerous technical and ethical challenges. Many remain skeptical about its viability, and the challenges are significant. “Person wey carry too much load for head, na him go fall for ground pass”—“The person who carries too much on their head is likely to fall”—warns against taking on too much at once. Neuralink’s hurdles serve as a reminder that while bold visions are inspiring, they demand careful steps, prioritization, and a balanced approach.

These stories reflect a truth well understood in Nigerian culture: “Kò sí títà tí kò ní’dà”—“There is no fall without a rise.” Every failure holds within it a lesson, every setback an opportunity to grow. Musk’s story reminds us that failure is not the end; it is a step forward. As we explore the failures of prominent entrepreneurs, let us remember that each fall plants the seeds for a future rise.