Elon Musk isn’t just tooting his own horn when he says he doesn’t need to keep his technology top secret to succeed, he’s actually making a totally “gangster” business move… according to Daymond John.
The “Shark Tank” star was on TMZ Live Friday, explaining why Elon’s unwritten rule of not patenting Tesla and SpaceX innovations is paying off for him … and more. First, Daymond says patents can slow companies down, and it’s often all about speed when it comes to getting a good product to market to beat the competition.
As we reported, Elon dropped his “off-patent” bombshell while on “Jay Leno‘s Garage” this week — explaining that he’s not the least bit afraid to go head-to-head with other companies or inventors.
Elon Musk is betting on himself by avoiding innovation patents
In fact, DJ points out that Elon has said he won’t sue anyone who wants to use Tesla’s technology in good faith, so he goes along the way … allowing others to build on his ideas and create better technology to advance the society.
Now don’t screw around… Daymond says there’s still value in some patents for the average Joe inventor, but for the richest man in the world, it’s a waste of time AND money!