SpaceX has been one of the hottest venture-backed start-ups trying to establish market-based competition through a myriad of channels. The company, founded by Elon Musk, is notorious for its daring missions and ambitious plans to revolutionize the world’s internet and space-travel. One of SpaceX’s notable projects, called Starlink, aims to launch a network of satellites that will provide the internet to those across the world. In order to launch this project as well as push the limits of space exploration, SpaceX has been developing different rockets and rocket technologies. One of the best innovations that has come out of SpaceX in the past decade is their self-landing rocket engines, which have changed the game of space travel by making engines reusable and, in turn, reducing the cost of launching rockets.
Even with so much success, SpaceX has seen its deal of failures over the years. Even today, failures are no stranger to the company, with the latest rocket called Starship ending in a fiery explosion at its Boca Chica development facility in Texas on Monday night. The specific rocket being tested was a prototype version of the Super Heavy booster which is designed to provide the extra lift needed to get its Starship spacecraft to orbit.
What do you think about the failed launch and will SpaceX get the Starship into orbit in the near to medium term future?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.