The New York Times Chicago Tribune: Better Source Needed

n 1995, Musk and his brother, Kimbal, started Zip2, a web software company, with money raised
from a small group of angel investors.[40] The company developed and marketed an internet city
guide for the newspaper publishing industry, with maps, directions and yellow pages, [63] with the
vector graphics mapping and direction code being implemented by Musk in Java.[64][better source needed] Musk
obtained contracts with The New York Times and the Chicago Tribune,[65][66] and persuaded the board
of directors to abandon plans for a merger with CitySearch.[67] Musk's attempts to become CEO were
thwarted by the board.[43] Compaq acquired Zip2 for US$307 million in cash[43]:109 in February 1999.
[68]
Musk received US$22 million for his 7 percent share from the sale.[65][43]:109[66]
X.com and PayPal

Main articles: PayPal and X.com
In March 1999, Musk co-founded X.com, an online financial services and e-mail payment company,
with US$10 million from the sale of Zip2.[67][66] One year later, the company merged with Confinity,[65]
[69]
which had a money-transfer service called PayPal.[66] The merged company focused on the PayPal
service and was renamed PayPal in 2001. [70] Musk was ousted in October 2000 from his role as CEO
(although he remained on the board) due to disagreements with other company executives over his
desire to move PayPal's Unix-based infrastructure to a Microsoft one.[71] In October 2002, PayPal
was acquired by eBay for US$1.5 billion in stock, of which Musk received US$165 million.[citation
needed]
Before its sale, Musk, who was the company's largest shareholder, owned 11.7% of PayPal's
shares.[72][non-primary source needed]
In July 2017, Musk purchased the domain X.com from PayPal for an undisclosed amount, stating
that it has sentimental value to him.[73]
SpaceX
Main article: SpaceX
In 2001, Musk conceived Mars Oasis, an idea to land a miniature experimental greenhouse on Mars,
containing food crops growing on Martian regolith, in an attempt to reawaken public interest in space
exploration.[74][75] In October 2001, Musk traveled to Moscow with Jim Cantrell (an aerospace supplies
fixer), and Adeo Ressi (his best friend from college), to buy refurbished Dnepr Intercontinental
ballistic missiles (ICBMs) that could send the envisioned payloads into space. The group met with
companies such as NPO Lavochkin and Kosmotras; however, according to Cantrell, Musk was seen
as a novice and was consequently spat on by one of the Russian chief designers. [76] The group
returned to the United States empty-handed. In February 2002, the group returned to Russia to look
for three ICBMs, bringing along Mike Griffin. Griffin had worked for the CIA's venture capital arm, In-
Q-Tel, as well as NASA's Jet Propulsion Laboratory, and was just leaving Orbital Sciences, a maker
of satellites and spacecraft. The group had another meeting with Kosmotras and were offered one
rocket for US$8 million. Musk considered the price too high, and stormed out of the meeting. On the
flight back from Moscow, Musk realized that he could start a company that could build the affordable
rockets he needed.[76] According to early Tesla and SpaceX investor Steve Jurvetson,[77] Musk
calculated that the raw materials for building a rocket were only 3 percent of the sales price of a
rocket at the time. It was concluded that[by whom?], in theory, by applying vertical integration and the
modular approach employed in software engineering, SpaceX could cut launch price by a factor of
ten and still enjoy a 70-percent gross margin.[78][better source needed] Ultimately, Musk ended up founding
SpaceX with the long-term goal of creating a true spacefaring civilization. [79][citation needed]
Musk and President Barack Obama at the Falcon 9 launch site in 2010
With US$100 million of his early fortune,[80] Musk founded Space Exploration Technologies Corp.,

traded as SpaceX, in May 2002.[81] Musk is chief executive officer (CEO) and chief technology
officer (CTO) of the Hawthorne, California-based company. By 2016, Musk's private trust held 54%
of SpaceX stock, equivalent to 78% of voting shares.[82]
SpaceX develops and manufactures space launch vehicles with a focus on advancing the state of
rocket technology. The company's first two launch vehicles were the Falcon 1 and Falcon 9 rockets
(a nod to Star Wars' Millennium Falcon), and its first spacecraft was the Dragon (a nod to Puff the
Magic Dragon).[83][failed verification] SpaceX designed a family of launch vehicles and the Dragon
multipurpose spacecraft over a span of seven years. In September 2008, SpaceX's Falcon 1 rocket
became the first privately funded liquid-fueled vehicle to put a satellite into Earth orbit. [43]
SpaceX is both the largest private producer of rocket engines in the world and holder of the record
for the highest thrust-to-weight ratio for a rocket engine (the Merlin 1D).[84][85] SpaceX has produced
more than 100 operational Merlin 1D engines. According to SpaceX, each Merlin 1D engine can
vertically lift the weight of 40 average family cars, and in combination, the 9 Merlin engines in the
Falcon 9 first stage produce anywhere from 5.8 to 6.7 MN (1.3 to 1.5 million pounds) of thrust,
depending on altitude.[86]
NASA Administrator Charles Bolden congratulates Musk in front of the Dragon capsule in 2012, following the

first successful mission by a private company to carry supplies to the International Space Station
In 2006, NASA announced that the company was one of two selected to provide crew and cargo
resupply demonstration contracts to the International Space Station,[87] followed by a US$1.6
billion Commercial Resupply Services program contract on December 23, 2008, for 12 flights of its
Falcon 9 rocket and Dragon spacecraft to the Space Station, replacing the US Space Shuttle after it
retired in 2011.[88] On May 25, 2012, the SpaceX Dragon vehicle berthed with the ISS, making history
as the first commercial company to launch and berth a vehicle to the International Space Station.[89]
Starting in 2011, SpaceX received funding under NASA's Commercial Crew Development program,
to develop the Dragon 2 crew capsule.[90] A contract to provide crew flights to the ISS was awarded in
2014.[91]
Musk believed the key to making space travel affordable was to make rockets reusable, though
space industry experts[who?] believed reusable rockets were impossible or infeasible. [92][full citation needed] On
December 22, 2015, SpaceX successfully landed the first stage of its Falcon rocket back at
the launch pad, the first time this had been achieved by an orbital rocket. [93] The first stage recovery
was replicated several times in 2016 by landing on an autonomous spaceport drone ship, an ocean-
based recovery platform,[94] and by the end of 2017, SpaceX had landed and recovered the first stage
on 16 consecutive missions where a landing and recovery were attempted, including all 14 attempts
in 2017. Twenty out of 42 first stage Falcon 9 boosters have been recovered overall since the Falcon
9 maiden flight in 2010.[95]
In 2017 SpaceX launched 18 successful missions, more than doubling their highest previous year of
8.[96]
Musk's Tesla Roadster in orbit after the Falcon Heavy test flight in 2018
On February 6, 2018, SpaceX successfully launched the Falcon Heavy, the fourth-highest capacity
rocket ever built (after Saturn V, Energia and N1) and the most powerful rocket in operation as of
2018.[citation needed] The inaugural mission carried a Tesla Roadster belonging to Musk as a dummy
payload.[97][98]
SpaceX began development of the Starlink constellation of low Earth orbit satellites in 2015 to
provide satellite Internet access, with the first two prototype test-flight satellites launched in February
2018. A second set of test satellites and the first large deployment of a piece of the constellation
occurred on May 24, 2019 UTC when the first 60 operational satellites were launched. [99][100] The total
cost of the decade-long project to design, build, and deploy the constellation was estimated by
SpaceX in May 2018 to be about US$10 billion.[101]
Musk was influenced by Isaac Asimov's Foundation series[102] and views space exploration as an
important step in preserving and expanding the consciousness of human life. [103] Musk said that
multiplanetary life may serve as a hedge against threats to the survival of the human species:
SpaceX DM-1 preflight. Musk (furthest left) with members of NASA, March 2019
An asteroid or a super volcano could destroy us, and we face risks the dinosaurs never saw: an
engineered virus, inadvertent creation of a micro black hole, catastrophic global warming or some
as-yet-unknown technology could spell the end of us. Humankind evolved over millions of years, but
in the last sixty years, atomic weaponry created the potential to extinguish ourselves. Sooner or
later, we must expand life beyond this green and blue ball—or go extinct.
Space X's goal is to reduce the cost of human spaceflight by a factor of 10.[104] In a 2011 interview, he
said he hopes to send humans to Mars' surface within 10–20 years.[105][citation needed] In Ashlee
Vance's biography, Musk stated that he wants to establish a Mars colony by 2040, with a population
of 80,000.[44] Musk stated that, since Mars' atmosphere lacks oxygen, all transportation would have to
be electric (electric cars, electric trains, Hyperloop, electric aircraft). [citation needed] Musk stated in June
2016 that the first uncrewed flight of the larger Interplanetary Spaceship was aimed for departure to
the red planet in 2022, to be followed by the first crewed ITS Mars flight departing in 2024. [106] In
September 2016, Musk revealed details of his architecture to explore and colonize Mars.[107

The New York Times Chicago Tribune: Better Source Needed

Uploaded by

Copyright:

Available Formats

The New York Times Chicago Tribune: Better Source Needed

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

The New York Times Chicago Tribune: Better Source Needed

Uploaded by

Copyright:

Available Formats

n 1995, Musk and his brother, Kimbal, started Zip2, a web software company, with money raised

X.com and PayPal

With US$100 million of his early fortune,[80] Musk founded Space Exploration Technologies Corp.,

NASA Administrator Charles Bolden congratulates Musk in front of the Dragon capsule in 2012, following the

Musk's Tesla Roadster in orbit after the Falcon Heavy test flight in 2018

You might also like

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.