A mock-up of the Crew Dragon spacecraft is displayed ahead of the NASA Commercial Crew Program (CCP) astronaut visit at the Space Exploration Technologies Corp (SpaceX) headquarters in Hawthorne, California, US, on Aug 13, 2018. (PATRICK T FALLON / BLOOMBERG)
SpaceX CEO Elon Musk on Tuesday said that a potential bankruptcy at the company in the event of a severe global recession would be “unlikely,” but not impossible.
"If a severe global recession were to dry up capital availability / liquidity while SpaceX was losing billions on Starlink & Starship, then bankruptcy, while still unlikely, is not impossible," wrote Musk.
He was replying to an article about the memo he sent to SpaceX employees where he stated the company could face a genuine risk of bankruptcy if Raptor engine problems were not fixed.
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Musk replied with a simple “yes” to a tweet about the Raptor production issue being the biggest potential bottleneck while the company is spending huge amounts on Starship and Starlink.
He then went on to say that the magnitude of the Starship program is not fully appreciated.
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"The magnitude of the Starship program is not widely appreciated. It is designed to extend life to Mars (and the moon), which requires ~1000 times more payload to orbit than all current Earth rockets combined," he wrote.
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