In this column, let's look at Elon Musk, also known to some as the real-world Tony Stark from Iron Man. He is reported to have taught himself computer programming at the age of 10 and later sold video game code for USD 500 when he was only 12 years of age. He went on to study a dual degree in physics and economics at the University of Pennsylvania and began a PhD in applied physics and materials science at Stanford University but later left the program after only two days to pursue his entrepreneurial aspirations. Musk is also responsible for founding Zip2, PayPal, Tesla, SpaceX and SolarCity.

 At university, Musk first began contemplating humanity's place in the future and realized that the biggest problems in the 21st century would be sustainable energy and transport. These realizations led to the later development and foundation of electronic vehicle maker Tesla and solar energy firm SolarCity. Ever the dreamer, Musk also has a vision for using SpaceX, the fourth active orbital launch facility following the US, Russia and China, and the first private facility, in a bid to colonize the planet Mars.

 Musk is also famous in China for being a visionary with big plans. He pursues businesses that contribute to the future of humanity and technological advancement, as opposed to entrepreneurs who focus mainly on making their fortune.

 To drive all this innovation, Musk makes use of First Principles thinking.

 This links back to Musk's days of studying physics as First Principles thinking is a physics way of looking at the world meaning that any concept or idea is brought down to its most fundamental truths and reasoned up from there.

 Reasoning by analogy is based on the idea that objects often bear a resemblance to other objects. This means that an observation of this similarity implies that there are other similarities between the two items. This is natural and people tend to make comparisons when they come across something new. The main point is that learning from experience can save time. However, this often leads to a natural sameness as creativity is often stifled in favor of adhering to familiar methods.

 For example, imagine you were tasked with creating a new marketing strategy. If we follow analogical reasoning, we would adapt and follow a previously successful case. In contrast, with First Principles thinking, you would begin by asking questions such as: How can we make our products appeal to customers? Is there anything we have missed? How can we convince them that our products are exactly what they want? What causes customer complaints and how can we deal with it? How can we make our products memorable?

 In short, it is important to do the groundwork first and set up foundations for a more effective marketing strategy, in this case, rather than copying what has come before.

 China was first introduced to Elon Musk through his company Tesla. The younger generations see Tesla as a "cool" brand developing fascinating electric automobiles that do not require fuel and are free of deadly air pollutants.

 As is well-known, Tesla focuses on the optimization of eco-friendly electric vehicles in a bid to offer an alternative to diesel powered vehicles. While initially high in price, the cost of purchasing a new Tesla is notably decreasing. The first sports car cost up to USD 100,000 with later models coming down to USD 50,000 and the third-generation electric vehicle leveling off at around USD 30,000.

 What facilitated this price reduction was the application of First Principles thinking to the design of the vehicle. As is well-known, to reduce the final selling price of any product, there is a need to first lower the manufacturing cost. Musk applied First Principles thinking and through research of battery materials, could produce an electric car battery at a fraction of the price; a drop from USD 600 per kW to USD 80 per kW. This is significant as the battery is not only a core element of an electric vehicle, it is also one of the most expensive components.

 SpaceX is something of a pioneer in the space industry. There were no other private companies prior to SpaceX with most aerospace development being undertaken with national-level support. As such, there was a high entry-barrier to the field, which saw Elon Musk struggle but despite several failures and the financial crisis in 2008, a contract with NASA, worth USD 1.6 billion, helped the entrepreneur get back on his feet again.

 Once again, Musk used First Principles thinking as he planned his mission to space. Like his work with Tesla, he had the company consider the materials required to produce a rocket and he soon realized that to reduce costs was to create a reusable rocket.

 Years ago, many Chinese people saw the first Chinese-made rocket launched into space. This was thrilling to watch as parts of the rocket were discarded at different stages of the launch. The fact that most parts of a rocket have previously been discarded, thus rendering the rocket useless after one launch, is where the concept for a reusable rocket was born. SpaceX later was successful with its production of the world's first reusable rocket, capable of both launching and returning, and thus saved cost.

 Hypothesis development, particularly in the technology field, requires extensive study before it can be made into a reality. Elon Musk himself said that he may even come across as obsessive as he tries to make his dreams come true. It is his desire though to seek out fundamental truths that truly epitomizes modern, creative leadership. How about then, instead of merely praising and imitating his work, we look further into the fundamentals of Musk's innovations? He has always maintained a keen interest in new fields and has never hesitated in taking on challenges. Part of what helped him accomplish such extraordinary feats as he sought neither fortune nor fame, was the First Principles thinking. Even last year, Musk announced his plan to build a network of high-speed, transportation tunnels beneath Los Angeles, his Hyperloop. If successful again, high-speed travel around the world may also soon become a reality. Of course, it is no easy feat to use First Principles thinking in every instance, as Elon Musk does, but we can at least begin by considering our own fundamentals to realize our true worth.