Virgin Galactic once again delays commercial suborbital operations
Capitalism in space: In releasing its quarterly report, Virgin Galactic yesterday revealed that it is once again delaying the start of commercial suborbital operations, pushing back from the first quarter of 2023 to the second quarter.
In an earnings call, company executives said that the latest delay was not directly related to supply chain and staffing problems it blamed for the previous delay. Instead, refurbishment work on its WhiteKnightTwo plane, VMS Eve, was taking longer than planned. “The driver is around the amount of time it is taking us to accomplish the work scope on Eve,” said Michael Colglazier, chief executive of Virgin Galactic. “We did not plan the full amount of time that’s been needed to get this work accomplished.”
Company officials also said they are shifting its customer emphasis, now focusing much more on “private and government researchers.” Let me translate: The public is not buying tickets, so Virgin Galactic hopes to convince the government to keep it afloat instead.
I predict this company will likely never fly any customers, and it appears the stock agrees, with the stock plunging in value, from $8.25 to $6.95 in less than a day.
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.
Conscious Choice 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 are available at Amazon, Barnes & Noble, and all book vendors, with the ebook priced at $5.99 before discount. The ebook can also 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.
Autographed printed copies are also available at discount directly from me (hardback $24.95; paperback $14.95; Shipping cost for either: $5.00). Just email me at zimmerman @ nasw dot org.
Capitalism in space: In releasing its quarterly report, Virgin Galactic yesterday revealed that it is once again delaying the start of commercial suborbital operations, pushing back from the first quarter of 2023 to the second quarter.
In an earnings call, company executives said that the latest delay was not directly related to supply chain and staffing problems it blamed for the previous delay. Instead, refurbishment work on its WhiteKnightTwo plane, VMS Eve, was taking longer than planned. “The driver is around the amount of time it is taking us to accomplish the work scope on Eve,” said Michael Colglazier, chief executive of Virgin Galactic. “We did not plan the full amount of time that’s been needed to get this work accomplished.”
Company officials also said they are shifting its customer emphasis, now focusing much more on “private and government researchers.” Let me translate: The public is not buying tickets, so Virgin Galactic hopes to convince the government to keep it afloat instead.
I predict this company will likely never fly any customers, and it appears the stock agrees, with the stock plunging in value, from $8.25 to $6.95 in less than a day.
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.
Conscious Choice 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 are available at Amazon, Barnes & Noble, and all book vendors, with the ebook priced at $5.99 before discount. The ebook can also 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.
Autographed printed copies are also available at discount directly from me (hardback $24.95; paperback $14.95; Shipping cost for either: $5.00). Just email me at zimmerman @ nasw dot org.
1) https://www.youtube.com/watch?v=k5VZjT0JE70 2) “The public is not buying tickets, so Virgin Galactic hopes to convince the government to keep it afloat instead.” no. No. NO, HECK NO. 3) Why isn’t Branson in jail
I guess they deserve a little credit for being the first private entity to reach “space”.. ( well… Burt does).. and for having the infamous accolade of having the first death in that quest.
It is almost too easy to criticize virgin and Branson for their business model, but they blazed a trail that many others are now following.
Groucho to Fenneman:
“Flap your arms, George!”
Lee S: The only trail The Great Sir Richard blazed with his “business model” was hoodwinking thousands of investors out of their money with a shaky, unscalable point design inherited from Burt Rutan (as you admit). SpaceshipOne was just barely adequate to win the X Prize—when Rutan’s legacy company pulled out of supporting the Virgin adventure, that was a giant red flag. I agree with Col. Beausabre that Branson needs to be prosecuted for pumping and dumping the stock of a company that was never capable of fulfilling its lofty promises, of which Branson was undoubtedly fully aware.
Robert wrote: “Let me translate: The public is not buying tickets, so Virgin Galactic hopes to convince the government to keep it afloat instead.”
The company has been bragging for two decades that they have deposits from more than 600 people. If these customers are not following through with the final purchase, that says something bad.
It gets worse :
http://www.parabolicarc.com/2022/08/04/masterclass-announces-richard-branson-to-teach-disruptive-entrepreneurship/
Who are the idiots running Master Class.
Oh well…next to Stossel getting pimp-slapped, this is my favorite video
https://m.youtube.com/watch?v=BzuxEyeqri0
Poor Richard…someone up there is sending you a message
https://ktvz.com/money/cnn-business-consumer/2021/07/10/here-are-just-some-of-richard-bransons-near-death-experiences-ahead-of-his-first-space-flight/