The billionaire also said that far too many number-crunchers run American companies and are more concerned about their bottom lines rather than focusing on what really matters: their product and, as a result, the satisfaction of their customers.
During last week’s Wall Street Journal CEO summit, Musk — who recently moved from California to Texas — said, “I think there might be too many MBAs running companies. There’s the MBA-ization of America, which I think is maybe not that great. … There should be more focus on the product itself, less time on board meetings, less time on financials.”
He added, “A company has no value in itself. It only has value to the degree that it is [an] effective allocator of resources to create business services that are of a greater value than the costs of the inputs.”