« Internet Reduces Elite Universities' Competitive Edge | Main | "If Ethanol Made Economic Sense, It Wouldn't Need a Subsidy" »


Entrepreneur's $100 Million Rocket Destroyed

Lesson one:  entreprepreneurship is risky, and often fails.  Lesson two:  when an entreprepreneur's rocket is destroyed, his $100 million goes up in smoke; when NASA's rocket is destroyed, your $100 million goes up in smoke. 

Government and industry efforts to develop innovative, less costly rockets suffered a high-profile setback Friday, when the initial flight of a satellite launcher bankrolled by outspoken entrepreneur Elon Musk ended in failure.

After Mr. Musk spent nearly four years and well over $100 million of his personal fortune to create a rocket company from scratch, his Falcon project became the best-known and most aggressive entrant in the fledgling small-rocket segment.  But according to preliminary assessments, a fuel leak and resulting fire during last week's inaugural launch shut down the main engines less than 30 seconds after blastoff from a Pacific atoll.  The rocket and a research satellite built by Air Force Academy students were destroyed.

 

For the full story, see:

Pasztor, Andy.  "Entrepreneur's Rocket Suffers Setback During Maiden Launch."  Wall Street Journal (Monday, March 27, 2006):  A14.




Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)

HP3D5006CropSmall.jpg


















The StatCounter number above reports the number of "page loads" since the counter was installed late on 2/26/08. Page loads are defined on the site as "The number of times your page has been visited."


View My Stats