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When it comes to figuring out how to be most useful, Elon Musk, the visionary entrepreneur behind Tesla, SpaceX, and other groundbreaking ventures, has a straightforward yet profound approach. His advice boils down to one key question: What is the utility delta compared to the current state of the art, and how many people would it affect?
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Utility Delta: Making a Difference
The term "utility delta" refers to the change or improvement your idea brings compared to what currently exists. Musk suggests that you evaluate the potential impact of your creation by considering how much better it is than the current state of the art. This improvement can be in terms of efficiency, effectiveness, cost, convenience, or any other relevant metric.
Scale of Impact: Reaching People
The second part of Musk's formula is about scale—how many people your idea will affect. He points out that there are two viable paths to being useful:
Big Difference, Smaller Audience: Create something that makes a significant improvement but only impacts a smaller, targeted group of people. For example, a specialized medical device that dramatically improves treatment for a specific condition can make a big difference in the lives of those it affects, even if the number of people is relatively small.
Small Difference, Larger Audience: Alternatively, develop something that might offer a smaller improvement but has the potential to reach and benefit a vast number of people. Social media platforms like Twitter initially provided a new way for people to share short updates. While the individual utility might seem small, the sheer number of users makes the overall impact huge.
Examples in Action
Tesla: When Musk founded Tesla, he aimed to create electric cars that were not just environmentally friendly but also high-performing and desirable. The utility delta was significant: reducing emissions while offering a compelling alternative to traditional cars. While initially targeting a niche market of early adopters, the impact has grown as electric vehicles become more mainstream.
SpaceX: With SpaceX, Musk aimed to revolutionize space travel by drastically reducing costs and increasing reliability. The utility delta here is immense, as it opens up possibilities for space exploration and even colonization that were previously unimaginable. Though space travel might seem like it affects a small number of people now, the long-term implications could be vast.
YouTube: On the other hand, YouTube is an example of making a small difference for a massive audience. It made sharing videos online easy and accessible, a seemingly small utility delta compared to previous methods. However, its reach is enormous, with billions of users worldwide.
Conclusion
Elon Musk's advice on figuring out how to be most useful revolves around understanding the balance between the utility delta of your idea and the number of people it affects. Whether you're aiming to make a significant difference for a smaller group or a smaller difference for a vast audience, the key is to create something that provides meaningful improvement.
By focusing on these two aspects—how much better your idea is and how many people it can help—you can chart a path to making a significant impact, just like Musk has done with his groundbreaking ventures.
Understand easily with Elon Musk: