Elon Musk once thought SpaceX (NASDAQ:SPCX) had "less than a 10% chance" of working when he first started it, a gamble that has since turned into one of the most valuable and influential companies in the global space industry.
Elon Musk Admits He Expected SpaceX To Fail
Addressing employees in Texas on Friday, shortly before ringing the opening bell for SpaceX's first day of trading, the CEO acknowledged that he initially expected the company to fail.
"I gave SpaceX less than a 10% chance of succeeding at all, to be clear. In fact, I told people this. I said, ‘look, we’re probably gonna fail, but you know, should give it a try because if we don’t… we will never be a truly space-bearing civilization,'" he stated.
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