Failure is not something most people like to dwell on, but in Sweden, a psychologist by the name of Dr. Samuel West has founded a museum dedicated to it. The Museum of Failure showcases a curated collection of past mistakes to illustrate that innovation is a high-risk business. The museum’s current exhibit, on tour in Brooklyn, New York, includes lessons from Elon Musk, the famous Tesla and SpaceX CEO.
Elon Musk has seen a fair share of Failures in his Career
Musk has earned his place in the Museum of Failure with 14 lessons from his failures, including his two children’s unusual names, X AE A-XII and Exa Dark Sideræl, and a failed attempt to walk away from a deal to buy Twitter for $44 billion. Musk’s other failures cited in the exhibit include Tesla and SpaceX almost going bankrupt in 2008, falsely tweeting about Tesla’s privatization, and being recognized by the Guinness World Records for “the largest personal property loss in history.”
The exhibit also showcases some of Musk’s successes, including accomplishments at Tesla and SpaceX, and his previous title as the world’s richest man. At the end of 2022, Tesla’s stock price plummeted, and Musk lost his status as the world’s richest man for the first time, being replaced by Louis Vuitton CEO Bernard Arnault. Musk is currently the second richest man in the world.
The exhibit raises some thought-provoking questions about innovation, failure, and success. The museum’s display challenges visitors to look at Musk’s legacy and decide for themselves whether he has failed or succeeded. “Musk has been one of, if not the most polarizing, figures of the past decade, and his status has been hotly debated,” the exhibit states. “It is true that Tesla revolutionized the electric car industry, but Musk didn’t actually create the technology. He invested smartly. Does investing in bold ventures count as innovation?”
Musk himself sees failure differently. He does not view failure as a downer but as a necessary path for companies to prosper. “If things aren’t failing, you’re not innovating enough,” he said in a 2012 speech in London.
The Museum of Failure’s exhibit on Elon Musk shows that even the world’s most successful entrepreneurs make mistakes. By highlighting these failures, the museum aims to show that failure is not the end of the road, but rather a stepping stone to success. Visitors to the exhibit can learn from Musk’s mistakes and be inspired to take risks and innovate in their own lives and businesses.
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(Via)
