Fun discussion this past weekend with Natasha Fatah and Elmer Kim on the CBC News Network Weekend Business Panel. In a busy segment, we discussed the week that was, including:
Falcon Heavy, Spacex, and Tesla’s Wild Ride: With the breathtaking launch of the largest rocket in history, what does this mean for the future of space exploration? With a Tesla Roadster being launched into space, could the Company’s future reach similar heights?
The Cost of Raising the Next Generation of Olympic Athletes: As the 2018 Winter Olympics commence, what are the financial implications of rising to this level of competition? Can Olympians bank on endorsements after they have represented Canada at sport’s highest level?
As a life long space enthusiast, all aspects of the Falcon Heavy launch are not only exciting, but also fascinating from a business perspective. Since humans are explorers at their core, traveling beyond our world and seeking to understand it are within our DNA. Advancements such as more robust space exploration at a much lower cost, the ability to re-use components, and greater functionality are to be celebrated, not to mention the phenomenal release of that Tesla Roadster! Expect far more in the future, including a variety of projects and the Mission to Mars, and hopefully further advancement of rockets and air travel right here on Planet Earth.
And speaking of Earth, Tesla has some definite work to do in resolving its operational issues and increasing its Model 3 production. What’s important to remember is that the Company is moving from a niche manufacturer to “mass production”, which represents a very different business. When this occurs, companies can face a host of growth related issues, many of which are not glamorous and require a lot of analysis and hard work to resolve. Critical to doing so is having the right people in place to get the job done, and advisors can help to move the growth strategy forward.
For many athletes, the pinnacle of their careers is completing on the global stage, something with which the Olympics is synonymous, but getting there in financial terms can be just as challenging. Although some funding is available, what’s often needed is taking a broader approach, including donations, sponsorships, scholarships, and even crowdfunding. The earlier that high potential athletes and their families can start planning, the more resources that can be identified.
We had hoped to chat about the Dow’s wild ride of its own, but time was short on this busy news day. As always, thanks so much, CBC, and see you next time!