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Space x near bankruptcy?

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posted on Dec, 13 2021 @ 01:16 PM
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Saw a lot of comments saying they should export space tech to other nations. I don’t think this will go anywhere

The issue with this aside from the scientific (and potentially future economic) applications a space program is a matter of national prestige. India, Russia and China can all build their own spacecraft. None of them want to be reliant on anyone else to produce spacecraft.

Remember when NASA was totally reliant on the Russian Space Agency for a period because they had no space launch systems when the Space Shuttle was retired? Nobody wants to be in that situation. It’s embarassing if nothing else.

Not to mention these space programs often have a military angle. Especially Russia and China. If you were a Russian or Chinese official you’d have to be a complete idiot to enturst an American corporation with the task of launching your new military satellite. No espionage please!

SpaceX just doesn’t seem to have much of a market. Which i find conflicting since I am all for the exploration and utilisation of space, and think this should be a major focus for all mankind. At the same time i view the idea of any benefits of space exploration being confined into the hands of a wealthy few corporations with the utmost contempt.
edit on 13122021 by Ohanka because: (no reason given)



posted on Dec, 13 2021 @ 01:33 PM
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a reply to: Ohanka

Roscosmos announced that they'll be sending their cosmonaut Anna Kikina up in a Crew Dragon to the ISS in late 2022 in Crew 5. It's not a full purchase, having an American astronaut go up in a Soyuz (MS-22) as part of the agreement. I believe it stems from each nation wanting at least one representative for each Expedition.

Why would you think SpaceX doesn't have a market? Yes, Starlink is a gamble, however in terms of lifting capacity and capabilities they have swiftly become an industry leader.



posted on Dec, 13 2021 @ 01:40 PM
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a reply to: cmdrkeenkid

Not sure where the demand is for heavy lift will come from.
Starship is projected to have a payload capacity for a single launch that's higher than the total payload per year of other agencies.

And no, not Hughes net.
Project kuiper and one net.
Not launched yet but it's coming.
The 42000 satellite idea is doomed to fail.



posted on Dec, 13 2021 @ 01:51 PM
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I thought Space X was doing great. They beat Bezos like a drum on NASA contracts. Maybe he should have done the millionaire and billionaire and celebrity 10-minute space ride too.



posted on Dec, 13 2021 @ 01:59 PM
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a reply to: Bluntone22

There is still a demand for heavy lift, and when cheaper and easier access becomes available (a la Starship or New Glenn) the demand will increase. The USAF has already expressed interested for on demand, global heavy lift capabilities, for example.

Kuiper is planned to have a few thousand satellites to become initially operational, I believe around 3500. One Web will need at least 650 for initial limited operations, with expansion following for a wider rollout. They have a couple hundred satellites already on orbit.



posted on Dec, 13 2021 @ 02:08 PM
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originally posted by: peaceinoutz
I thought Space X was doing great. They beat Bezos like a drum on NASA contracts. Maybe he should have done the millionaire and billionaire and celebrity 10-minute space ride too.

When it comes to Musk, you have to remember that he'll let hype outweigh reality every single time.

This sure sounds like Musk is trying to issue his legally-required Going Concern Warning, without actually admitting that this is what he's doing.

I read about a week ago that Musk has sold his mansion, and the article noted that he has essentially liquidated his assets (meaning that he has no physical property worth speaking of). I'm seriously wondering if Musk is planning to leave the United States.
edit on 13-12-2021 by AndyFromMichigan because: (no reason given)



posted on Dec, 13 2021 @ 02:17 PM
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a reply to: AndyFromMichigan

He’s certainly a flaky guy. …And he has 300 billion dollars stock wealth. Strange he’s complaining.

Of course, on another level, maybe he knows something we ordinary folks don't know.



posted on Dec, 13 2021 @ 02:43 PM
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a reply to: AndyFromMichigan

His wealth is from stocks that never pay dividends....hmmm



posted on Dec, 13 2021 @ 03:03 PM
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He needs to get his hands on that 32kb RAM computer that was used for the first Apollo mission
edit on 13-12-2021 by cooperton because: (no reason given)



posted on Dec, 13 2021 @ 03:31 PM
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a reply to: AndyFromMichigan

Why would you think that he's giving a Going Concern? There is no evidence that SpaceX is about to fail within the next twelve months. Also, SpaceX is not a publicly traded company and there would be no legal requirement to issue any such statement.

He sold his extra homes because of people criticizing his wealth and to get out from under California taxes and regulations. Also, he has a hefty tax bill, so he may need the cash. The majority of his wealth is in his companies, not as liquid assets.

Elon Musk faces a $15 billion tax bill, which is likely the real reason he's selling stock


As Tesla noted in its third-quarter Securities and Exchange Commission 10-Q filing this year: "If the price of our common stock were to decline substantially, Mr. Musk may be forced by one or more of the banking institutions to sell shares of Tesla common stock to satisfy his loan obligations if he could not do so through other means. Any such sales could cause the price of our common stock to decline further."

The options expire in August of next year. Yet in order to exercise them, Musk has to pay the income tax on the gain. Since the options are taxed as an employee benefit or compensation, they will be taxed at top ordinary-income levels, or 37% plus the 3.8% net investment tax. He will also have to pay the 13.3% top tax rate in California since the options were granted and mostly earned while he was a California tax resident.

Combined, the state and federal tax rate will be 54.1%. So the total tax bill on his options, at the current price, would be $15 billion.



posted on Dec, 13 2021 @ 03:41 PM
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originally posted by: peaceinoutz
a reply to: AndyFromMichigan

He’s certainly a flaky guy. …And he has 300 billion dollars stock wealth. Strange he’s complaining.

Of course, on another level, maybe he knows something we ordinary folks don't know.

That's the thing about stocks. Until you cash them out, it might as well be Monopoly money.

Musk is also no stranger to stock market manipulation (making comments that seem intended to impact the price of your company's stocks). He got into a lot of trouble for it a while back -- anybody else would have been hit with an indictment by the SEC, but Musk as always appears to be immune to such things.



posted on Dec, 13 2021 @ 03:45 PM
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originally posted by: AndyFromMichigan
... Musk as always appears to be immune to such things.


Uh... No?

Elon Musk Settles SEC Fraud Charges; Tesla Charged With and Resolves Securities Law Charge



Musk and Tesla have agreed to settle the charges against them without admitting or denying the SEC’s allegations. Among other relief, the settlements require that:


• Musk will step down as Tesla’s Chairman and be replaced by an independent Chairman. Musk will be ineligible to be re-elected Chairman for three years;
• Tesla will appoint a total of two new independent directors to its board;
• Tesla will establish a new committee of independent directors and put in place additional controls and procedures to oversee Musk’s communications;
• Musk and Tesla will each pay a separate $20 million penalty. The $40 million in penalties will be distributed to harmed investors under a court-approved process.


edit on 12/13/2021 by cmdrkeenkid because: Trying to fix broken list tags within ex quote. Doesn't look like it worked in the preview. 🤷‍♂️

edit on 12/13/2021 by cmdrkeenkid because: It didn't. Did manual bullet points the old fashioned way.

edit on 12/13/2021 by cmdrkeenkid because: Forgot a bullet point.



posted on Dec, 13 2021 @ 07:28 PM
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a reply to: cmdrkeenkid

bombardment of what? 42000 satellites?

The ground... where they fall.

(like some outer limits village full of larger beings maybe...)
edit on 13-12-2021 by infiniteMeow because: crash war



posted on Dec, 13 2021 @ 09:32 PM
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a reply to: infiniteMeow

They are designed to not make it to the ground, even if they were to deorbit near populated areas. That will not be an issue. The disintegration is complete.

So far around 140 have been deorbited already. At least another ten are scheduled to be as well, with an additional 20+ that have failed and are in naturally decaying orbits.

The only villages that need to worry of rockets landing on them are in China, and SpaceX isn't the cause of that.



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