At the event, Musk answered a range of questions from the audience, offering updates on his new rocket, insight on how to save humankind from World War III, and warnings about the dangers of artificial intelligence.
He fears another "dark age" should a third world war occur, and feels that Mars will be integral to helping the human race survive and regenerate. He also predicted a utopian social model for the red planet, akin to the ancient Greek republics, without the slavery.
Musk went on to say the colony would need basic living fundamentals before it officially becomes a colony, hinting at things like glass domes and power stations.
"I think most likely the form of government on Mars would be a direct democracy, where people vote directly on issues", he said.
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"This has been our pattern in the past". From there, he said he hopes for an explosion of entrepreneurial opportunity from iron foundries to pizza joints and even great bars, which he joked would be called the "Mars Bar".
On a lighter note, Mr Musk said he was excited about the potential for launching new industries from a complete fresh starting point. In the long-term, the billionaire space entrepreneur whose plans include making human life multi-planetary, intends to make Starlink a communication bridge between Earth and colonized Mars.
In response to those who have dismissed his doomsay concerns, Musk had this to say: "Mark my words, AI is far more risky than nukes".
"This is a case where you have a very serious danger to the public, therefore there needs to be a public body that has insight and then oversight to confirm that everyone is developing AI safely - this is extremely important", he said.
"The thing about spaceflight is all of us working together... and we're trying to think of an image, something to sort of shock people into thinking about this again", Nolan said.
"My point was AI is far more unsafe than nukes". And if he doesn't try and get us to Mars, who will?