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PayPal Founder Wants To Launch Satellites

Posted by Hemos on from the go-up-up-up-going-up-up-up dept.

XNormal writes "Elon Musk, founder of Zip2 and PayPal is planning to build a launcher for small satellites. Much of his personal fortune come from the IPO of PayPal and subsequent sale to eBay. The amount of money he plans to spend on this project is not much more than Denis Tito spent on his space station visit. The difference is that this venture actually tries to do something productive. Elon is also behind the Life to Mars mission."

5 of 197 comments (clear)

  1. And of course.. by Large+Green+Mallard · · Score: 5, Interesting

    He won't have to get approval for his space mission because it's not a space flight, it's an interstratum transport venture, which isn't regulated like space flights are

    (cf: PayPal not being a bank and thus have responsibilities to the FED and FDIC :)

  2. I'm unimpressed... by WolfWithoutAClause · · Score: 4, Interesting
    His projected cost per kilogram is about $20K. That's similar to the cost of the space shuttle per kg, but that launches 40 times more stuff. Big flippin' deal.

    By comparison, the Russian Proton rocket is down at $2.6K/kg.

    But if he really wanted to do something impressive he would design a 2 stage fully reusable rocket. That could probably launch for $0.5K/kg to $1K/kg.

    --

    -WolfWithoutAClause

    "Gravity is only a theory, not a fact!"
  3. Vision by andyring · · Score: 4, Interesting
    Like it or hate it, admit it. This guy's got vision. Not only did he start one of the few remaining "dot coms", he seems to have another idea that could really take off (no pun intended). Perhaps he'll be able to come up with a cheaper and/or easier method for deploying satellites, in fact it sounds like that's what it's all about. Satellites work wonders already, and if they become more within the reach of a wider market, I can see only good things coming from it. Who knows, maybe better satellite 'net access, cheaper satellite phones, more amateur radio satellites, increased competition all around.

    More power to ya!

  4. Let me get this straight by USC-MBA · · Score: 4, Interesting
    Here we have Elton Musk, boy genius, whose company, PayPal, in spite of the fact that its business model consisited essentially of investing its customers' deposits and pocketing the returns while performing currency exchanges (think: how high could the overhead possibly be on such a service? And variable costs are essentially zero!) while at the same time collecting fees off Business and Premier PayPal accounts, still took four years to acheive profitability.

    Mr. Musk is now going to enter into the commercial sattelite launch industry, an industry whose barriers to entry are (ahem) astronimical, and compete with far cheaper Russian services. Since Mr. Musk is not utilizing any new technological innovation, he will presumably rely purely on his business know-how to make his sattelite company as efficient as PayPal...

    Oh, the things a measly 1.5 billion and dollars will do to a man's ego...

  5. Re:Productive? by nomadic · · Score: 5, Interesting

    Agreed. The opposition to Tito's flight from the slashdot crowd is mainly jealousy that they didn't have a chance to do the same thing. The opposition from the NASA crowd is over the fact that someone from outside their little clique had the gall to get himself up there. Bunch of overbearing elitists with square haircuts who forget who pays their salaries; space was supposed to be opened up for everyone, not just them.

    The ironic thing is Tito is a former NASA engineer, with the same background as the many of the other astronauts.