What are some real-world examples of companies that have successfully implemented practices similar to those of Elon Musk at SpaceX?

Elon Musk's approach to business challenged existing paradigms in the space industry in several ways. Firstly, he disrupted the market by offering low-cost solutions through SpaceX, which was a stark contrast to the traditionally high costs associated with space exploration. Secondly, he had to navigate through politics, favoritism, and protectionism that undermined the fundamentals of capitalism. This required a unique approach and a strong determination to succeed despite the odds. His challenges were arguably more significant than those faced by other innovators, such as Steve Jobs, given the nature of the space industry.

Elon Musk implemented several innovative ideas to make SpaceX a low-cost supplier in the space industry. One of the key strategies was the development and use of reusable rockets, which significantly reduced the cost of each launch. SpaceX's Falcon 9 and Falcon Heavy rockets are designed to return to a landing site instead of falling into the ocean after each launch, unlike traditional rockets. This reusability factor drastically cuts the cost of space travel. Another innovation was the in-house manufacturing of most of the rocket components, which helped SpaceX to control costs, quality, and supply chain. Furthermore, SpaceX's approach to constant iteration and improvement of its technology also contributed to cost reduction and efficiency.