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Tesla CEO Elon Musk has claimed that the acceptance rate for jobs at his auto manufacturing company Tesla and his space exploration company SpaceX is lower than that of the world's most prestigious universities, such as Harvard.

While speaking on a Twitter space on Tuesday, Musk highlighted that the overwhelming demand for working at his companies has made the competition for positions particularly fierce. According to Musk, around 3.6 million people have applied for roles at Tesla. However, the number of available positions is estimated to be between 20,000 to 30,000, making the acceptance rate startlingly low.

The tech mogul compared this to the acceptance rate of Harvard University, known for its stringent admission criteria, asserting that Tesla and SpaceX are even harder to get into. With Harvard's acceptance rate hovering around 4 per cent, the comparison underscores the intense competition for roles within Musk's innovative enterprises.

"Around 3.6 million people have applied for a job at Tesla. And I mean, we would only add, like, say, 20,000 or 30,000 jobs. So the acceptance rate for Tesla is much lower, he said.

It is much more difficult to get into Tesla or SpaceX than Harvard. The acceptance rate is even lower. The acceptance rate is lower than the most demanding universities in the world. It's insane," said Musk.

Musk's recent decisions at Twitter were also discussed on the space. After acquiring the social media giant, Musk made widespread job cuts, reducing the workforce from 7800 to just 1500.

He explained that the urgency of the situation led to a necessity for swift action, which might have resulted in some employees being let go without comprehensive evaluations of their roles or contributions.

Musk stated, "Sometimes it gets a little late. Desperate times call for desperate measures. So there's no question that some of the people who were let go probably shouldn't have been let go because we simply did not have the time to figure out we had to make widespread cuts to get the run rate under control."

The tech tycoon clarified that the staff reduction was not a reflection on the employees' abilities or performance, but a requirement to quickly decrease both headcount and non-personnel expenses. Despite these measures, Musk disclosed that Twitter is still not breaking even, but they are close.

He added, "This is not to say that, hey, everyone who is let go from Twitter is, like, somehow terrible or something. It's just we have to, with very little information, get the headcount expenses and the non-personnel expenses down to where we're at least break even. And we're not quite at break-even yet, but we're close, and we need to do it fast."

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'Much more difficult to get into SpaceX, Tesla than Harvard,' says Elon Musk - Business Today