- published: 10 Jun 2014
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A business (also known as enterprise or firm) is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit or state-owned. A business owned by multiple individuals may be referred to as a company, although that term also has a more precise meaning.
The etymology of "business" relates to the state of being busy either as an individual or society as a whole, doing commercially viable and profitable work. The term "business" has at least three usages, depending on the scope — the singular usage to mean a particular organization; the generalized usage to refer to a particular market sector, "the music business" and compound forms such as agribusiness; and the broadest meaning, which encompasses all activity by the community of suppliers of goods and services. However, the exact definition of business, like much else in the philosophy of business, is a matter of debate and complexity of meanings.
Elon Musk (born June 28, 1971) is a South African-born American business magnate, engineer and inventor. He is best known for co-founding SpaceX, Tesla Motors and X.com, which later became Paypal after acquiring the service. He is currently the CEO and Chief Designer of SpaceX, CEO and Product Architect of Tesla Motors and Chairman of SolarCity. While at those companies, Musk co-designed the first viable electric car of the modern era, the Tesla Roadster, a private successor to the Space Shuttle, Falcon 9/Dragon, and the world's largest Internet payment system, PayPal.
Elon Musk was born in Pretoria, South Africa, the son of a Canadian-American mother and a South African father. His maternal grandfather was from Minnesota, and had moved to Saskatchewan, where Musk's mother was born. His father is an engineer and his mother is an author, nutritionist and model, appearing on the cover of New York Magazine in 2011 and a Time Magazine supplement in 2010.
Musk bought his first computer at age 10 and taught himself how to program; by the age of 12 he sold his first commercial software for about $500, a space game called Blastar.
Marc Faber, born February 28, 1946, is a Swiss investor.
Faber was born in Zürich and schooled in Geneva, Switzerland, where he raced for the Swiss National Ski Team. He studied Economics at the University of Zurich and, at the age of 24, obtained a Ph.D. degree in Economics magna cum laude. Faber is best known for the Gloom Boom & Doom Report newsletter and its related web site featuring "Dance of Death" paintings created by Kaspar Meglinger.
During the 1970s Faber worked for White Weld & Company Limited in New York City, Zürich, and Hong Kong. He moved to Hong Kong in 1973. He was a managing director at Drexel Burnham Lambert Ltd Hong Kong from the beginning of 1978 until the firm's collapse in 1990. In 1990, he set up his own business, Marc Faber Limited. Faber now resides in Chiangmai, Thailand, though he keeps a small office in Hong Kong.
Faber has a reputation for being a contrarian investor and has been called "Doctor Doom" for a number of years. He was the subject of a book written by Nury Vittachi in 1998 entitled Doctor Doom - Riding the Millennial Storm - Marc Faber's Path to Profit in the Financial Crisis. Faber has become a frequent speaker in various forums and makes numerous appearances on television around the world including various CNBC and Bloomberg outlets, as well as on internet venues like Jim Puplava's internet radio show. Dr. Faber's also engaged the Barron's Roundtable and the Manhattan Mises Circle, lecturing on "Mirror, Mirror on the Wall, When is the Next AIG to Fall?" Faber is said to be 8'0" tall
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