• About Us
  • Contact Us
  • Cookie policy (EU)
  • Home
  • Privacy Policy
  • Video
  • Write for us
Today Headline
  • HOME
  • NEWS
    • POLITICS
    • News for today
    • Borisov news
  • FINANCE
    • Business
    • Insurance
  • Video
  • TECHNOLOGY
  • ENTERPRISE
  • LIFESTYLE
    • TRAVEL
    • HEALTH
    • ENTERTAINMENT
  • AUTOMOTIVE
  • SPORTS
  • Travel and Tourism
  • HOME
  • NEWS
    • POLITICS
    • News for today
    • Borisov news
  • FINANCE
    • Business
    • Insurance
  • Video
  • TECHNOLOGY
  • ENTERPRISE
  • LIFESTYLE
    • TRAVEL
    • HEALTH
    • ENTERTAINMENT
  • AUTOMOTIVE
  • SPORTS
  • Travel and Tourism
No Result
View All Result
TodayHeadline
No Result
View All Result

Elon Musk warns SpaceX faces ‘genuine risk of bankruptcy’

December 1, 2021
in Technology
0
Elon Musk warns SpaceX faces ‘genuine risk of bankruptcy’
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter


Elon Musk warned SpaceX employees that the firm could face a possible bankruptcy if it doesn’t make progress on developing the Raptor engines designed to power its Starship rocket.

Starship is the spacecraft that SpaceX intends to use to send humans and cargo to the Moon as well as Mars.

Musk fired off an urgent companywide e-mail on Friday in which he described the “Raptor production crisis” as a “disaster” which was “much worse than it seemed a few weeks ago.”

The firm has so far conducted several short test flights of its prototype from its Texas facility. But in order to send Starship into orbit, it will need as many as 39 Raptor engines on each spacecraft – requiring employees to significantly ramp up production.

“We face genuine risk of bankruptcy if we cannot achieve a Starship flight rate of at least once every two weeks next year,” the SpaceX boss wrote in the e-mail, which was first reported by Space Explored.

Musk’s dire e-mail comes less than two weeks after he told the National Academies that SpaceX is planning to send its Starship rocket into orbit from its Boca Chica, Texas, site in January.

Falcon 9 rocket
SpaceX Falcon 9 rockets are partially reusable.
Getty Images

Musk told his employees that he had initially planned to take the long Thanksgiving holiday off. But when he realized just how bad the situation was with the Raptor engine, he changed course and worked through Friday night and into the weekend.

“We need all hands on deck to recover from what is, quite frankly, a disaster,” Musk wrote.

Earlier this month, SpaceX was rocked by the departure of Will Heltsley, the vice president of propulsion. Before leaving the company, Heltsley was removed from its Raptor development line, according to CNBC.

Musk wrote in his e-mail that SpaceX executives who looked closer into the problems plaguing production of the Raptor engines found them to be “far more severe” than initially thought.

Musk said earlier this month that he wasn’t certain if Starship could successfully reach orbit on its first try. But he said that he was “confident” the rocket will reach space sometime in 2022. Musk also said that “at least 90 percent” of the Starship development was “internally funded thus far.”

SpaceX aims to make both the Starship spacecraft and its rockets and booster fully reusable. Its current line of Falcon 9 rockets are just partially reusable. While the booster and land and re-launch, the upper portion of the rocket cannot be reused.

SpaceX, which employs 7,000 people, is estimated to be worth over $100 billion. It recently won a $2.9 billion contract from NASA to develop a lunar lander that could carry astronauts to the moon.

SpaceX beat out Jeff Bezos’ competing outfit Blue Origin, which failed in its legal effort to block the contract. Bezos and Musk are also battling it out in the satellite internet space, which will offer high-speed internet connections to customers from low orbit.

SpaceX has so far launched 1,700 Starlink satellites into orbit. Thus far it has attracted 140,000 userss who pay $99 per month. Amazon, the online retailer founded by Bezos, is preparing to launch prototype satellites from Project Kuiper in the fourth quarter of 2022.

Amazon said it hopes to have 3,236 satellites in low Earth orbit at a cost of $10 billion.

Tags: bankruptcyElonfacesgenuineMuskriskSpaceXwarns
Previous Post

MRI reveals altered brain structure in fetuses exposed to alcohol

Next Post

Series Boss On What It All Means & Season 2 – Deadline

Related Posts

Technology

Iplicit launches new board and announces senior appointments

The award-winning accounting software developer,...

Read more
Technology

Reuters reveals Musk seeks to put in less money in new Twitter deal financing

Business & FinanceDealsHuman InterestTechnology02 May...

Read more
Technology

Research allows for 3D printing of ‘organic electronics’

An example of 3D laser...

Read more
Technology

Team develops biobatteries that use bacteria to generate power for weeks

Credit: Anwar Elhadad et al,...

Read more
Technology

Conductive polymer holds promise for the next generation of organic electronics

Concept illustration depicts highly mobile...

Read more
Load More
Next Post
Series Boss On What It All Means & Season 2 – Deadline

Series Boss On What It All Means & Season 2 – Deadline

  • Trending
  • Comments
  • Latest
Who is Sergeant at Arms Michael C. Stenger?

Who is Sergeant at Arms Michael C. Stenger?

The Best Pasta Salad Recipes

Horror as goat gives birth to ‘humanoid kid’ with baby-like face

Six times actors really romped in sex scenes that make 365 DNI look tame

Six times actors really romped in sex scenes that make 365 DNI look tame

liposuction

Maintaining Results After a Liposuction Procedure

injector

How to Find the Best Filler Injector for the Best Results

A Comprehensive Review of Stellar Repair for Excel

Greek Myths

Top Greek Myths You Should Know To Understand Goddess Paintings

About Us

Todayheadline the independent news and topics discovery
A home-grown and independent news and topic aggregation . displays breaking news linking to news websites all around the world.

Follow Us

Latest News

liposuction

Maintaining Results After a Liposuction Procedure

injector

How to Find the Best Filler Injector for the Best Results

liposuction

Maintaining Results After a Liposuction Procedure

injector

How to Find the Best Filler Injector for the Best Results

A Comprehensive Review of Stellar Repair for Excel

  • Real Estate
  • Education
  • Parenting
  • Cooking
  • NFL Games On TV Today
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

No Result
View All Result
  • Real Estate
  • Education
  • Parenting
  • Cooking
  • NFL Games On TV Today
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Posting....