The Internet isn't the only place to innovate, says the founder of Tesla, SpaceX, and SolarCity.
There wasn't much talk of digital when Elon Musk took the stage at the D: All Things Digital Conference. In fact, the Tesla CEO urged entrepreneurs to focus on just the opposite--life beyond the web.
Though Musk has made great strides in bringing electric cars to consumers, that's nothing compared to what's been achieved online, said All things D's Walt Mossberg. Musk agreed, but offered a different take.
"There are lot of things that provide a small amount of value to a large amount of people, and that sums up to some large value, and that's still good," he said, noting a lot "enormously talented people" still work in this field.
But in order to truly change the world, entrepreneurs need to get out of their comfort zone.
"I'd recommend that people consider arenas outside of the Internet, because there's a lot of industries that could use that entrepreneurial talent and the skills that people have learned in creating companies," he said.
"There's actually a lot of opportunity in these industries, particularly in ones that have been dominated by oligopolistic companies for a long time. Oligopolies are not great at innovation. Innovation comes from new entrants in the arena, and so when an industry has had an absence of new entrants, it tends to have a very limited innovation."
Watch the full interview below and tell us if you agree with Musk in the comments.
JANA KASPERKEVIC is a graduate of Baruch College, City University of New York, where she earned a bachelors degree in Journalism and Political Science. She covers start-ups, small businesses, and entrepreneurship for Inc. Her work has appeared in The Village Voice, InvestmentNews, Business Insider, and Houston Chronicle, among others. She lives in Brooklyn. @kasperka