A 2008 video of Elon Musk. I was broke, Tesla was losing money


In a 2008 video, Elon Musk talks about Tesla and more.

A video from 13 years ago in which Elon Musk explains why Tesla cars are so expensive has resurfaced online and is currently going viral on Twitter. Elon Musk’s Tesla is counted among the world’s most valuable auto companies today, but it wasn’t always that way. In 2008, which Musk has previously said was the “worst year” of his life, Tesla was losing money.

According to Space.com, the CEO of SpaceX and Tesla Motors told 60 Minutes correspondent Scott Pelley in an interview that his Falcon 1 rocket had failed, while the Tesla Roadster, a two-seat sports car, was rapidly losing money. At the time, Musk himself was in debt.

“To save Tesla, Musk needed millions of investors. His fortune was gone,” Pelley said.

It was later this year that Elon Musk stood in front of an audience of around 300 from the film, television and music industries for an event hosted by The Hollywood Hill and spoke about Tesla’s electric cars.

A video of the December 2008 event went viral after Silicon Valley owners of Tesla shared it on Twitter yesterday. “Whenever someone buys a Tesla Roadster sports car … every penny Tesla makes goes toward developing a smaller, lower-cost vehicle,” Musk says in the video. In addition, he responded to criticism that Tesla’s expensive electric vehicles are just “toys for rich people” and do not actually help the environment, explaining that it takes time to optimize new technology.

The video has amassed more than 2.2 million views on the microblogging platform, along with thousands of likes and retweets.

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“My restaurants are struggling to stay open, but when you have vision and refuse to stay, it’s videos like this that push me the most. Good for you, Elon. Never stop believing,” wrote one person in the comment section.

“The greatest businessman of our time,” commented another.

You can see the full presentation here.

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