SpaceX founder and CEO Elon Musk is an ardent follower of capitalism. He has said that capitalism is “the best form of business” and that it will be around for a very long time. However, in a recent interview with analysts, he indicated that he might be open to trying some sort of Austrian Economics during his term as President of the United States. For someone who is generally a fan of capitalism, this is quite a curious stance. But perhaps Musk is taking a step towards realizing his dreams. After all, if capitalism works for him then why shouldn’t it work for the rest of us?
If you have any doubts about whether or not Musk is the right man for the job of President then take a step back and look at what he has done so far. Sure he has started up a company that is worth billions and has plans to send people on a trip to Mars in the next 10 years. However, he has not quite been able to create that same sense of hope and promise that many of us have grown to love and trust.
So, now we have this curious little back-handed endorsement from someone so close to the technology giant that has a lot of respect. If you do not believe that being the founder and CEO of one of the most successful companies in the world while also having an ardent affection for it is a good thing then perhaps you should rethink your endorsement of him. In the world of business endorsements, this can spell disaster. After all, if the person you are endorsing does not have the right vision, then their endorsement is not much of a value.
Perhaps we need to ask ourselves why we should even care about this endorsement? Why would this little back-handed compliment to make much difference in our future economic growth? Surely, as we continue to evolve into the next generation of entrepreneurs and leaders that we will become, these problems will be nonexistent. And, if that is the case then why do we even need to worry about this? Is it not enough to simply move forward and allow the chips to fall where they may?
However, I do believe that this is a very good thing. In fact, I really feel that we should look at Cryptocurrency Systems such as Musk’s as an investment opportunity. That is not to say that we should jump on the first profitable trend that comes along, but what we need to do is invest in strong companies and fundamentals. By using strong fundamentals such as strong business plans, adequate financial backing and an efficient and effective marketing plan, we can take advantage of the real estate of the future. By putting our eggs in one basket with a strong company such as Tesla, we can be assured that our investment will always have a substantial and solid return. Therefore, it behooves us to carefully consider if such a risk is truly acceptable when the potential returns are so large.
By recognizing that Cryptocurrency Systems such as Musk’s will always be here in the future, we can also make better use of our current tax system to our economic advantage. Currently, our tax code is written in favor of large corporations with extensive bank accounts and thousands of employees. This has given us in the United States, the ability to leverage ourselves through tax deferral and write-offs to avoid paying our share of taxes. If we are to utilize our current tax codes, we must ensure that future generations benefit from the economic prosperity built upon the backs of the pioneers of the free enterprise system we proudly stand and fight.