00:00Think Elon Musk named Tesla. Think again. Back in 2004, Musk joined Tesla, a year after engineers
00:06Martin Eberhard and Mark Tarpening founded it. The name Tesla Motors was already taken by someone
00:12in Sacramento. To acquire it, Musk sent the nicest guy from his company to the owner's doorstep,
00:18instructing him to stay until the name was sold. After persistent efforts,
00:23the owner agreed to sell the name for $75,000. Had the deal fallen through,
00:28Musk's backup plan was to name the company Faraday, after the scientist Michael Faraday.
00:33While Musk didn't come up with the name or found the company, he invested $6.5 million,
00:39became chairman and later CEO, driving Tesla to global prominence.
00:43So the next time you see a Tesla on the road, remember, behind the name lies a story of persistence,
00:49strategy, and a $75,000 doorstep negotiation.
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