"Be the House"

(NY Post image)

One common characteristic of getting older is that people become more conservative--politically, culturally, and financially. As life's expiration date approaches, this perspective makes sense.

Older people, including your humble blogger, are less willing to take chances because they have more to protect. If a risky bet turns out wrong, recovery--physical and financial--is difficult and sometimes impossible.

That's why Elon Musk is unique. At 51, his enterprises and his wealth are an order of magnitude bigger than they were ten years ago, yet he's still willing to bet the farm to fulfill his vision(s):

In the span of 24 hours this past week, Elon Musk made three very big bets with three very different companies, together showing his penchant to plow ahead despite sizable risks.

Between Wednesday and Thursday evenings, he stripped celebrities, journalists and other high-profile users of their free, legacy verification on Twitter, risking a VIP revolt on the social-media platform. He promised that the electric-car maker Tesla Inc. increase; green up pointing triangle would chase sales volume at the expense of profitability. And he launched SpaceX’s first of its kind giant space rocket, which exploded on the way to the heavens.

Making big bets doesn't mean that Elon Musk isn't aware of the risks:

“If the odds are probably in your favor, you should make as many decisions as possible within the bounds of what is executable,” Mr. Musk said a few years ago. “This is like being the house in Vegas. Probability is the most powerful force in the universe, which is why the house always wins. Be the house.”

Although he's one of the richest people in the world, amassing wealth was not the goal, just a means to get to his destination. Elon Musk's aspirations are grand indeed: interplanetary space travel, efficient autonomous transportation, and a platform for the free-wheeling exchange of ideas.

Along the way Elon Musk doesn't care how foolish he looks to others. Blowing up a rocketship to find out whether it functions (without hurting anybody) is a necessary step on the way to Mars, and crashing cars is the price for making millions of authomobiles self-driving.

Wealth often induces billionaires to become philanthropists and lift individuals out of poverty. Elon Musk's way of using his wealth, IMHO, will enrich humanity's future.