The Outsider 92
is considered to have the best car design ever made, it’s
also unreliable. Elon recalled that the “Jag” was like a bad
girlfriend since it kept breaking down. It even broke down
on the way home from the car dealer.^124
To get this first investment, Elon agreed to replace
himself as CEO of Zip2. Replacing an inexperienced CEO
with an experienced one is a common thing to do in new
companies as they grow, and Elon assisted in the recruiting
process. They decided that Rich Sorkin was best suited to
become the new CEO. Sorkin had a degree in economics
from the Yale University and an MBA from the Stanford
University Graduate School of Business. Before joining
Zip2, he worked at companies such as Goldman Sachs and
Creative Labs. When he took over the rudder, Elon thought
it was a good idea because the value of his shares in Zip2
would increase if they hired a competent CEO. But he
would later regret the decision to step down as CEO.71,324
As Elon is a person with strong views, he didn’t al-
ways share the new CEO’s vision. Zip2 wasn’t a consumer
company with a recognized brand name. The only clue a
website was a part of Zip2 was that it included a smaller
logo with the text “Powered by Zip2.” Elon wanted more
visibility, and visibility to him meant he wanted his picture
on the front page of a magazine.^263 “I’d like to be on the
cover of Rolling Stone, that would be cool,” Elon said.^27
Elon lost more and more power. Due to all the new
investments, his share of the company decreased. Four out
of seven board members consisted of the new investors:
Knight Ridder, Hearst, and The New York Times. These