Venture capitalist Tim Draper is best known these days for his investment and bullish outlook in Bitcoin. It wasn't too long ago he was investing in Tesla Inc (NASDAQ:TSLA) and SpaceX, investments that draw continued praise for Elon Musk in a recent interview.
What Happened: In a recent appearance on "The Raz Report" podcast with Benzinga founder Jason Raznick, Draper was asked about the potential impact Musk could make helping President Donald Trump and the White House administration.
"I think he's extraordinary," Draper said.
Draper said Musk is already making a "huge impact" within the government by identifying waste and bad services at high costs.
"Now it needs a transformation."
Draper said Musk is taking all the heat for his actions and likely won't get the praise if he's successful. "I applaud him for that incredible effort."
Musk will be successful, Draper predicts. Draper imagines a world where "America will look really cool" and be the center of all activity, again thanks to Musk. This vision includes big fancy buildings and transportation systems firing on all cylinders.
"It won't remember all the hard work Elon did to get us there."
Why It's Important: Draper said he bought a Tesla Roadster that took three years to deliver, but Musk came through.
"He's come through in the past," Draper said.
Draper was one of the early investors in Tesla Inc, investing in the EV company in a 2006 Series C funding round. The investment happened months before Tesla went public via IPO.
"I made the mistake of selling my Tesla too early."
Draper discussed several of his early investments during the podcast appearance, which include companies like Hotmail, Skype, Twitter, Robinhood, Coinbase and SpaceX.