Posts Tagged ‘elon musk’

Elon Musk: Databases COBOL

Posted by admin on Friday, January 20, 2023

Meaning of Elon Musk Money Quote: saying money, finance and banking is using outdated technology. Elon Musk said:
 
 
Money is actually a set of heterogeneous databases with vast amounts of legacy code still using COBOL on mainframes in batch mode Quote
 

“Money is actually a set of heterogeneous databases with vast amounts of legacy code still using COBOL on mainframes in batch mode” — Elon Musk

 

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In this quote, Elon Musk seems to be making a technical comparison between money and outdated computer systems. When he refers to money being “a set of heterogeneous databases with vast amounts of legacy code still using COBOL on mainframes in batch mode”, Musk appears to be humorously implying that the global financial infrastructure and methods for managing money still rely on antiquated technologies like COBOL (an old programming language) and batch processing on mainframe computers (large centralized systems).

The quote suggests Musk views the underlying technology powering the movement and record-keeping of money as outdated and in need of modernization. So in essence, he seems to be jokingly equating the current financial system to old computer systems still clinging to obsolete technologies and methods of the past.


 

Elon Musk: Time Ultimate Value

Posted by admin on Monday, June 27, 2022

Meaning of Elon Musk Money Quote: saying time has more value and having more makes anyone richer than those with only cash. Elon Musk said:
 
Time is the ultimate currency Quote
 

“Time is the ultimate currency” — Elon Musk

 

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In this quote, Elon Musk seems to be suggesting that time is the most valuable commodity or “currency” that people have. When he refers to time as the “ultimate currency”, Musk appears to mean that time is more important than money, as we cannot make more time but we can always make or earn more money.

The quote implies that Musk views time as extremely precious and finite, seeing it as our most scarce and non-renewable resource. So in summary, this statement means Musk believes time is more important than financial wealth, and that we should spend and invest our time wisely as it is our most valuable currency in life.

Elon Musk: Physical Work Choice

Posted by admin on Friday, October 1, 2021

Elon Musk Money Quote saying sometime in the future, we will have the choice whether to do manual labor and will require basic income. Elon Musk said:
 
Essentially, in the future, physical work will be a choice. This is why I think long term there will need to be a universal basic income Quote
 

“Essentially, in the future, physical work will be a choice. This is why I think long term there will need to be a universal basic income” — Elon Musk

 

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In this quote, Elon Musk is further expanding on his view that advances in automation and AI will significantly reduce the need for human physical labor over the long run. He suggests that as machines are increasingly capable of performing physical tasks, work involving manual labor or movement will become optional for humans rather than a necessity out of economic demands. Musk implies that a future with very high levels of automation may make physical work more of a personal choice than an obligation.

Given this potential scenario, he reiterates his belief that some form of universal basic income will likely be required to support citizens, since automation may eliminate the need for much human physical work and the jobs that currently depend on it. So in essence, Musk is connecting the dots between increasing automation, declining demand for human physical effort, and the probable long-term need for a basic income system as a result

Elon Musk: Universal Basic Income

Posted by admin on Tuesday, June 13, 2017

Elon Musk Money Quote saying that because robots and automation are going to take jobs, we will be likely to end up with Universal Basic Income (UBI). Elon Musk said:
 
There is a pretty good chance we end up with a universal basic income, or something like that, due to automation Quote
 

“There is a pretty good chance we end up with a universal basic income, or something like that, due to automation” — Elon Musk

 

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In this quote, Elon Musk is echoing the view expressed by Johann Rupert earlier – that advances in automation and artificial intelligence could significantly reduce the number of jobs available, to the point that some form of universal basic income program may become necessary. By saying there is a “pretty good chance” of this, Musk seems to believe the rise of automation poses a real risk of widespread unemployment.

His statement implies that a universal basic income system, where everyone receives a set amount of money from the government regularly, could act as a safeguard against the societal impacts of job losses to machines and help ensure citizens have their basic needs met. So in summary, Musk is acknowledging the potential job disruption of new technologies and suggesting a basic income program may be required as a result of the effects of automation.

Elon Musk: Borrow Money for Rent

Posted by admin on Monday, June 6, 2016

Elon Musk Money Quote saying his percentage of the profits from sale of PayPal were invested in his other business ideas. Elon Musk said:
 
My proceeds from the PayPal acquisition were $180 million. I put $100 million in SpaceX, $70m in Tesla, and $10m in Solar City. I had to borrow money for rent Quote
 

“My proceeds from the PayPal acquisition were $180 million. I put $100 million in SpaceX, $70m in Tesla, and $10m in Solar City. I had to borrow money for rent” — Elon Musk

 

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In this quote, Elon Musk is describing what he did with the proceeds from the sale of his company PayPal in 2002. He invested $100 million into his rocket company SpaceX, $70 million into the electric car company Tesla, and $10 million into the solar energy company SolarCity.

The fact that Musk then had to borrow money for rent suggests he put virtually all of the $180 million he received from PayPal back into his new business ventures, leaving himself cash-poor personally as a result.

The quote paints Musk as someone fully committed to and confident in his ambitious vision, willing to risk all his PayPal fortune on revolutionary companies focused on space travel, electric vehicles and sustainable energy rather than keeping the money for himself.

Elon Musk on Future of Humanity over Cash

Posted by admin on Friday, September 13, 2013

Elon Musk Money Quote saying to do well (make money) while doing good by seeking ways of solving the problems of humanity. Elon Musk said:

 
'What are some of the other problems that ... most affect the future of humanity?' Not from the perspective, 'What's the best way to make money?' Quote

 

“What are some of the other problems that … most affect the future of humanity?’ Not from the perspective, ‘What’s the best way to make money?”

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In this quote, Elon Musk is suggesting that when considering major problems and challenges that could impact humanity’s future, the primary perspective or motivation should not simply be “What’s the best way to make money?”.

Rather than viewing the future solely through a profit-oriented lens, Musk appears to be advocating for taking a wider view focused on issues that could truly affect humanity for better or worse on a large scale.

The quote implies Musk believes the most consequential questions are not those centered around maximizing financial returns, but rather those examining risks, problems and opportunities from a perspective aiming to benefit humanity as a whole in the long run regardless of monetary factors.

Money Quotes Daily

Money Quotes Daily