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Capitalism in space: The Israeli Google Lunar X-Prize competitor, SpaceIL, still needs to raise $7.5 million by December 20th or it will be forced to drop out of the competition, even though they say their spacecraft is finished.
SpaceIL initially estimated it would need about $8 million for the GLXP effort, but costs soared to $85 million, team members said. The team needs to raise $30 million by Dec. 20 to pay its bills. It has secured $22.5 million in pledges, contingent on the team’s ability to raise that additional $7.5 million.
I must admit that something about this stinks. Their budget has gone up more than ten times from its original estimate, from $8 million to $85 million. They have so far raised $55 million of hard cash, which is still about seven times their original budget, and with this they have actually built their spacecraft. Why do their need another $30 million? And why the hard December 20th deadline or they shut down?
As I say, something about this situation doesn’t feel right to me.