Elon Musk Quotes
You should be innovating so fast that you're invalidating your prior patents.
He observes that the richest people and businesses tend to be monopolies or dominate a market although very often the are not the best.
In the War of 1812, in retaliation of English facilities being attacked by Americans in Canada, the British raided Washington DC and burned the White House. They had also set up a battery of cannon in front of the Patent Office building—one of the most impressive in Washington—and were about to destroy it. The Superintendent came out with this speech. The British officer ordered the cannon removed and the Patent Office with its models was saved.
This is a very important quotation in the Patent world. One of the major justifications for giving patent monopoly to an inventor is that without the patent protection people would not invest time, effort or money to invent things. However many of the great inventors have not agreed. The original Constitutional purpose in granting patents was to stimulate disclosure of technology to other inventors and educate the nation. That is why all patents are public and can be viewed by all.
He is referring to high technology companies or companies that utilize technology in their business processes in unique ways. McGraw Hill, the publishing company, is a dominant firm, but does very little basic research. Nor does the New York Times Company, the world’s dominant newspaper.
Elon Reeve Musk FRS is a business magnate, industrial designer, and engineer. He is the founder, CEO, CTO, and chief designer of SpaceX; early stage investor, CEO, and product architect of Tesla, Inc.; founder of The Boring Company; co-founder of Neuralink; and co-founder and initial co-chairman of OpenAI. A centibillionaire, Musk is one of the richest people in the world.