The risk of linking arms with Elon Musk in the state of Florida is twofold. The first risk is associated with the political capital and reputational risk associated with Elon Musk as a somewhat controversial figure. The second risk is of a more direct financial nature with a potential lack of return on investment from capital expenditure (capital which would otherwise primarily come from state coffers) to support any initiatives which Musk brings to the state.
The reward of linking arms with Elon Musk in the state of Florida is also twofold. The first reward is the expected investment, long term economic growth, and job creation which Musk would bring to the state economy as a result of initiatives such as the Hyperloop, The Boring Company, and those being conducted by the SpaceX company. The second reward is the reputation boost which the state would gain by working with Musk, given his public popularity and success, particularly as an entrepreneur. This could be beneficial to tourism and digital tech industries in the state.