Other biases mentioned include:
Google effect (digital amnesia) - we tend to forget information that's easily looked up on search engines.
Gambler's fallacy - we think future possibilities are affected by past events.
Backfire effect - disproving evidence sometimes has the unwarranted effect of confirming our beliefs.
The Tesla boss has six children – the oldest who are teenagers.
In 2020, he had a son called X AE A-XII with his partner at the time, musician Grimes.
He also shares five teenage sons with ex-wife Justine Wilson.
He told Today he will father X a similar way to his older children.
"If I have a trip for Tesla to China, for example, I'll bring the kids with me and we'll go see the Great Wall or we took the bullet train from Beijing to Xian and saw the Terracotta Warriors," he said.
He added, he created an online school for his five older children that has "actually worked out pretty well."
His Twitter advice comes just days after he became embroiled in an ugly argument online.
He labelled a US Senator a "Karen" for questioning his taxes while legislation that could force him to pay the Government US$50 billion ($74b) hangs over his head.
Democrats in the United States are trying to pass new rules that would tax the richest people in the country at a much higher rate. The Tesla boss would be one of the most affected by Build Back Better reform and be taxed up to US$50b in the first five years of the programme.
Senator Elizabeth Warren, an advocate for higher taxes on the wealthy and the bill itself, took aim at him on Twitter.
"Let's change the rigged tax code so The Person of the Year will actually pay taxes and stop freeloading off everyone else," she wrote, referring to Musk, who was named Time magazine's person of the year earlier in the week for his contributions to business and space exploration.
Warren has previously advocated for an annual wealth tax of 4 per cent on wealth in excess of US$1b.
Musk clapped back at the Senator labelling her a "Karen" for her behaviour.
"You remind me of when I was a kid and my friend's angry mom would just randomly yell at everyone for no reason," he said.
"Please don't call the manager on me, Senator Karen."
Karen is a common online slur used to describe Baby Boomers. It is described by the Urban Dictionary as a person who ''makes solutions to others' problems an inconvenience to her although she isn't even remotely affected".
