Why Tesla Took So Long To Succeed...

Hey, hey, welcome back to the show. Today we're gonna talk about evolutionary products and businesses versus revolutionary products and businesses. I was just reading a quote from a great guy I follow, and he said, it's faster to disrupt a market than it is to create a market. And that got my head spinning a little bit about this concept. Now I'm gonna dive in just a second. It's something my, actually a few mentors taught me years ago, and I've mulled over it, and I've thought a lot about this, and I think it's very crucial when you're starting a funnel, or any business to think what type of business or product are you getting into. Before I go any further, if you like this episode or show, whatever, please subscribe below. We have a free Facebook group as well if you guys wanna join our free Facebook group. Hop in there, I go live in there. As well, if you guys can like this video, if you like some of the content we're putting out, like the video. It helps us know what type of stuff you guys like and what kind of stuff you guys don't like, and so I can tailor some content towards What you want to see in the future, so let us know below too if you have future topics or content you want us to cover. All right, so back to the topic: evolutionary versus revolutionary. Few years ago, I sit down with a mentor and he told me this. He's a bridger. When you create a business, it is much easier to create an evolutionary business versus a revolutionary business. I go, "What do you mean?" He goes, "For example," he goes, "Bridger, we have had." cars that can run on hydrogen and electricity since the 1980s. You can look it up. There's a number of inventors in the '80s and '90s that produced cars that run on water, hydrogen-produced cars, and cars that run on electricity. And he goes, what's interesting is those cars and those products were so revolutionary that They, one way or another, got taken out or got bankrupt, and big oil companies and big conglomerates around the world that had a lot of power currently in a market, they're not gonna let a revolutionary product, a revolutionary product like a car that can run on water is very revolutionary. They're not gonna let that power slip away. There's a number of entrepreneurs that couldn't do this. Finally, Elon Musk had enough money, enough backing, enough of everything after selling PayPal and starting a few other companies to go and launch Tesla, but, and Tesla today is this incredible business, right? It's, you know, got a huge market cap, these huge evaluations, everyone loves Tesla, right? It has taken them 20 years to get where they are today. I mean, Tesla is, I actually was watching an interview from Elon Musk earlier about Tesla, and he said, Tesla, running a car company is one of the hardest companies on the planet to run. And somebody asked him, even harder than SpaceX? He goes, well, I mean, he was saying almost as hard or even harder than running SpaceX was running a car manufacturer, a car company, because there are, especially an electric car vehicle maker, there are so many of these big power oil companies and other conglomerates in the market that want you to go down. They will short your stock price. They'll do all sorts of things to push it down. Thankfully for us, Elon Musk had the cojones to go and keep Tesla running, and they were in the red for so many years. They finally turned a profit like in, I can't remember the year, 2015 maybe? And since then, they've done really well, but I mean, for 7, 8, 9 years, they did not turn a profit, Tesla. They were losing money every single year for investors because they, and it took a long time 'cause they had a revolutionary product. So back to my mentor, he's telling me, Bridger, it's a lot easier, it's a lot faster. And again, we have said this before, money loves speed, right? Money loves speed. It's a lot easier to have a revolutionary, or excuse me, an evolutionary product. A product that builds upon an existing space. So for example, the internet, right, and this is back to the, it's harder to create a market versus disrupting a market. And I'll use, actually, let's use a fund example. I'm not gonna use the internet. Internet's another example we could use. Let's talk about investing in venture capital, okay? Investing in small startups. This did not exist in a broad scale like we have today. This was an entire blue ocean that entrepreneurs, fund managers had to go out and slowly convince and warm up investors over time to invest in small tech startups. And eventually you finally get a Microsoft that took off and these investors go, wow, that was actually pretty incredible. Then you have an Apple that takes off and you have these other small tech companies, you have Compaq Computers, all the early-day kind of computer companies, HP Computer, you know, all these investors got into and were making huge returns, right? Early investors into Yahoo and so eventually you got investors to slowly warm up and it created a market of investors that liked venture capital, right? That would say, you know what, I would put money into a venture capital fund and I actually wanna get into that space. That took, think about that timeline, about 30, 40 years to build a market. Now, It's much easier, since the market is built, to disrupt the market and come in and say, hey, we're doing seed. We're doing early-stage seed investment venture capital, or we're doing, we're gonna disrupt venture capital and we're doing only fintech venture capital. We're only gonna do a certain aspect of venture capital, because they have already created the market. And we talk about red ocean and blue ocean, you guys have probably heard that before. They've already created, they've gone out, found the blue ocean, turned it into a red ocean, and now it's a lot easier for you to disrupt. That red ocean since it's already been created and created customers or investors for us. Is that kinda making sense? Again, back to this, and again, and when you're disrupting, you gotta think through, is this evolutionary or revolutionary? I got pitched a fund a little bit ago. I'm not gonna tell you all the details. I don't wanna disrupt this entrepreneur, but he wanted to start a fund that they were gonna fund projects that were gonna take place on the moon. Okay, and he said this is going to be a whole new space of investing. We're going to fund companies on the moon. And for me, I asked him, I said, how are you doing raising money? Have you raised the money? He goes, well, it's— we've had a tough time. And I go, well, no duh. You have— you have to find an investor that is already used to very risky investments, but now you're taking it to another level of we're going to invest in companies that are going to be on the moon. And I'm not going to tell you all the stuff they're doing, but We can't even invest in probably until 2025. This is a long-term future play. And it's a very, you're creating a whole new market of investors that are okay with investing into that type of niche. And I wouldn't say it's a revolutionary product, but he's trying to create an evolutionary product, but it's pretty far-fetched. Now you can do this. I'm not saying don't do it, I'm just saying it's slower. It's a lot slower to go and create an entire market. It's much faster to disrupt a current market that's already out there, a current real estate market or current hedge fund market. You have a new strategy inside that's going to trade derivatives, whatever it is. A lot easier to disrupt an existing market than go and try to create a brand new market yourself. You see the same thing happening with cryptocurrency. Okay, cryptocurrency has been around. We've had cryptocurrency since, what, I think it's like 2011, 2012, something like that. We've had cryptocurrency for a long time, and that is a brand new market. It's almost been 10 years that investors have slowly warmed up and felt more and more comfortable about this space. But now, if you see right now, now investors are warmed up to crypto, they like it, it's becoming a household conversation of Bitcoin, Ethereum, and some of these major coins, that investors or entrepreneurs can now disrupt and launch their own coin off of that and ride those coattails, and it's a lot faster to disrupt. It's a lot faster to evolve on a Bitcoin than create a Bitcoin from the ground up. And when you do that, you're gonna have a lot of problems like those, those early car companies that had early electric vehicles or early hydrogen process vehicles. There are people with power in other markets that are gonna come after you. And so this mentor told me, he said, Bridger, any business you start, remember to think through what type of business. Is this a revolutionary business? Is this an evolutionary business? And am I gonna be disrupting or creating a market? That's all I got for you guys today. Let me know if you guys like this episode. Comment, subscribe, whatever it is on this page. Let me know what you guys think. By the way, we've got some fun giveaways and stuff we do on our Facebook group. We have a Funnel Launch Formula guide if you've ever seen our stuff in there, and other programs we have on there, so click on that and I'll see you guys there. Thanks, bye.