Capitalism ?in? space? Continuing his steady off-loading of Virgin Galactic stock since the company went public, Richard Branson has sold another 10.5 million shares, lowering his steadily shrinking ownership share another 4% to 18% total.
The sale garnered him $300 million in cash.
When the company went public in 2019, Branson reserved for himself 51% ownership. Since then he has periodically sold off large chunks, usually well timed to specifically planned events that worked to pump up the stock’s price. This last sale obviously was planned to take advantage of the publicity following Branson’s own suborbital flight in July.
While Virgin Galactic might have a future in suborbital space tourism, I remain very skeptical. It certainly does not have a future in the larger orbital market, as it has no experience building real rockets (Virgin Orbit was spun off this company years ago, taking with it all that experience). Thus, the company has very limited possibilities. As the orbital market grows and becomes dominant, I can’t see there being that much long term interest in short suborbital hops.
I think Branson agrees with me, which is why he is getting out when the getting is good. That he is following the classic and very corrupt method of “pump and dump” only solidifies my belief that he is an outright con-man.
That the mainstream press continues to genuflect before him only tells us how corrupt and incompetent that press has become.
Now available in hardback and paperback as well as ebook!
From the press release: In this ground-breaking new history of early America, historian Robert Zimmerman not only exposes the lie behind The New York Times 1619 Project that falsely claims slavery is central to the history of the United States, he also provides profound lessons about the nature of human societies, lessons important for Americans today as well as for all future settlers on Mars and elsewhere in space.
Conscious Choice: The origins of slavery in America and why it matters today and for our future in outer space
, is a riveting page-turning story that documents how slavery slowly became pervasive in the southern British colonies of North America, colonies founded by a people and culture that not only did not allow slavery but in every way were hostile to the practice.
does more however. In telling the tragic history of the Virginia colony and the rise of slavery there, Zimmerman lays out the proper path for creating healthy societies in places like the Moon and Mars.
“Zimmerman’s ground-breaking history provides every future generation the basic framework for establishing new societies on other worlds. We would be wise to heed what he says.” —Robert Zubrin, founder of founder of the Mars Society.
All editions available at Amazon, Barnes & Noble, and all book vendors. The ebook can be purchased direct from my ebook publisher, ebookit, in which case you don't support the big tech companies and I get a bigger cut much sooner. Note that the price for the ebook, $3.99, goes up to $5.99 on September 1, 2022.
Autographed printed copies are also available at discount directly from me (hardback $24.95; paperback $14.95). Just email me at zimmerman @ nasw dot org.