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Step by Step: How Elon Musk Built His Empire (by Anna Vital)“The next Bill Gates will not build an operating system. The next Larry Page or Sergey Brin won’t make a search engine. Tomorrow’s champions will not win by competing ruthlessly in today’s marketplace. They will escape competition altogether, because their businesses will be unique.”– Peter Thiel in “Zero to One” In the bookZero to One, prominent entrepreneur and investor Peter Thiel shares his vision on what it takes to create an extraordinary company. Specifically, Thiel believes that instead of making incremental upgrades to an existing product or service, a company must aim to do something completely new to avoid ruthless competition. While Thiel has worked with many impressive people over the years, Thiel points to Elon Musk as a particularlysuccessful memberof the Paypal Mafia that has gone “zero to one” many times. THE RÉSUMÉAt only the…

‘P50-M send-off gift for Reyes’

From the Philippine Daily Inquirer.

MANILA, Philippines—A retired lieutenant colonel on Thursday made a surprise appearance at the Senate and disclosed how he and his ex-bosses allegedly amassed wealth, with a large portion of the loot taken from soldiers’ salaries.

Seated on a wheelchair following a stroke, George Rabusa dropped a bombshell: that Angelo Reyes, a former Armed Forces chief of staff, received a send-off gift (“pabaon”) of “not less than” P50 million when he retired in 2001.

Rabusa said he personally delivered the cash to the “White House,” Reyes’ then quarters at Camp Aguinaldo, that year. He said he was accompanied by the then military comptroller, Lt. Gen. Jacinto Ligot.

“We had to convert [the money] to dollars because it was very bulky,” Rabusa said during the Senate blue ribbon committee’s initial hearing on the plea bargain between government prosecutors and ex-military comptroller Carlos Garcia.

On top of the purported “pabaon,” Reyes, who later became defense secretary, allegedly received a monthly take of at least P5 million—or around P100 million in his 20 months as AFP chief of staff. Rabusa said he and Ligot made the monthly deliveries.

Rabusa said Reyes’ office also received another P5 million monthly, but added that the amount was spent for office needs and was not necessarily pocketed by Reyes.

He said the distribution of hefty amounts to top military officials was a “tradition” in the AFP. “It was there when we got there. We inherited it from those who came before us,” he said.

He added that this tradition had also benefited two other AFP chiefs of staff, Diomedio Villanueva and Roy Cimatu, who allegedly each received around P10 million as a “start-up” fund.

“As soon as they assumed office, they already asked to be given,” he claimed.

Can’t remember

Reyes did not vehemently deny Rabusa’s claims, saying only: “I cannot remember accepting” the P50-million “pabaon.”

Ligot also claimed—to the senators’ disbelief—that he could not remember accompanying Rabusa to deliver the money to Reyes.

“I cannot recall going there every month. We go there occasionally…” he said.


How convenient for Reyes, "I cannot remember receiving P50 million". Not I did not receive P50 million, but I can't remember receiving P50 million. So the question is, how much was he getting that P50 million is actually forgettable?

Read the full article here.

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