@a16z
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@a16z In 2002, Elon Musk started Space Exploration Technologies Corp., later shortened to SpaceX after selling PayPal and becoming focused on radically lowering the cost of getting to orbit so humans could eventually settle on Mars. Musk invested roughly $100 million of his own capital, recruited veteran aerospace engineers, and led development of Falcon 1, the company’s first orbital rocket. After three failed launches and nearing bankruptcy, Falcon 1 finally reached orbit in 2008, becoming the first privately developed liquid‑fuel rocket to do so and effectively “inventing” a new model for venture‑backed, founder‑led access to space that set the stage for Falcon 9, reusable boosters, and Starship.
