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Rocket Lab, Virgin Orbit lead a new class of small rockets with big ambitions for 2021
SpaceX’s reign as the only privately funded American spaceflight company to reach and successfully deploy small satellite payloads into orbit ended on January 21, 2018, when Rocket Lab’s Electron rocket delivered three customer CubeSats to orbit for the first time.
SpaceX and Rocket Lab have since been the only private American companies to offer dedicated and rideshare delivery of small satellites to orbit. That is until Virgin Orbit joined the competition with the success of its Launch Demo 2 mission earlier this week.
Airdropping rockets
On Sunday, January 17, Virgin Orbit – one of two spaceflight companies backed by billionaire Richard Branson – joined SpaceX and Rocket Lab as the next private American rocket launcher sending small satellites to space. Virgin Orbit delivers its payload slightly differently than SpaceX and Rocket Lab. Virgin Orbit can uniquely offer its customers the flexibility of launch site because its liquid-fueled rocket is dropped mid-air from under the wing of a massive Boeing 747 before propelling itself to space.
In the Spring of 2020 Virgin Orbit conducted its first Launch Demo mission off of the coast of southern California. Prior to the rocket’s first stage ignition, the company achieved the majority of its intended test flight targets. Just after LauncherOne’s first stage ignition the rocket prematurely shut down resulting in the complete loss of the rocket and its payload as it fell to the ocean.
After months of investigation, Virgin Orbit attributed the prematurely terminated flight to a component failure that led to a breach of a high-pressure line starving the engine of Liquid Oxygen resulting in the immediate loss of propulsion. The issue was remedied quickly and Virgin Orbit aimed to fly and launch again in December 2020 for its Launch Demo 2 mission attempting to successfully achieve orbit by the close of the year. In mid-December, the launch date of Launch Demo 2 was postponed until January 2021 due to impacts to operation and scheduling caused by the Covid-19 pandemic.
Virgin Orbit’s 747, Cosmic Girl, piloted by Kelly Latimer took to the skies on Sunday, January 17 with a fully fueled LauncherOne rocket loaded with a payload of nine CubeSat missions made up of ten spacecraft for NASA’s Educational Launch of NanoSatellites (ELaNa XX) series contracted under NASA’s Venture Class Launch Services program.
The Launch Demo 2 mission went off without a hitch. Just as with the first Launch Demo, all pre-launch activities proceeded nominally with Cosmic Girl reaching an altitude of 30,000 feet prior to the release of LauncherOne over the Pacific Ocean. Once released into free flight, the rocket’s first stage engine ignited and carried it through the atmosphere until separation and second stage engine ignition beyond the Kármán line – the recognized point at which “space” is defined beyond Earth’s atmosphere. Eventually, all nine payloads were successfully deployed into orbit completing the first-ever successful mission of an orbital class, liquid-fueled, air-launched rocket to reach space.
Another One Leaves The Crust
SpaceX has set the pace for space in 2021 successfully achieving two orbital-class launches within the first twenty days of the year with a third mission scheduled to depart Launch Complex 40 at Cape Canaveral Space Force Base in Florida on Friday, January 22. Likewise, Rocket Lab looks to aggressively exceed its previous launch record of seven missions in one calendar year. The only way to demolish a previous record is to launch frequently from multiple spaceports. SpaceX currently has three active launchpads, two in Florida and one in California. Within 2021, Rocket Lab will also have three operational launchpads, two in New Zealand and one in Virginia.
On Wednesday, January 20, 2021 – its third anniversary of first making it to orbit – Rocket Lab successfully launched its first Electron mission of 2021 nicknamed “Another One Leaves The Crust.” After standing down from a previous launch attempt on January 16 due to an erroneous sensor, the eighteenth overall mission of the Electron rocket successfully launched and deployed a single communications microsatellite for the European space technology company, OHB Group. The mission took place from Launch Complex 1 in Mahia, New Zealand at 07:26 UTC. This mission brings the total satellites deployed by Rocket Lab to 97.
In a statement provided by Rocket Lab, founder and CEO, Peter Beck, states that “We’re proud to be delivering a speedy and streamlined path to orbit for OHB Group on this mission, with launch taking place within six months of contract signing. By flying as a dedicated mission on Electron, OHB and their mission partners have control over launch timing, orbit, integration schedule, and other mission parameters.”
2021 – The year of the small satellite launcher
Expect SpaceX, Rocket Lab, and Virgin Orbit to be joined by other small launchers looking to break into the market sooner rather than later. Another NASA Venture Class Launch Services provider, Astra – a California-based small satellite launcher that launches from Kodiak, Alaska – narrowly missed beating out Virgin Orbit for the third-place slot in the competition to deliver small satellites to orbit.
On December 15, 2020, Astra launched its small orbital-class vehicle, Rocket 3.2, for the second time from Pacific Spaceport Complex on Kodiak Island, Alaska. The vehicle soared past the Kármán line with the upper stage reaching its targeted altitude of 380 kilometers at 7.2 km/sec but falling just shy of achieving orbital velocity at 7.68 km/sec.
Astra is not the only small private spaceflight company looking to join the ranks of SpaceX, Rocket Lab, and now Virgin Orbit. Texas-based Firefly Aerospace is also expected to join the elite group of privately funded spacefaring companies this year.
In October 2020, Firefly successfully completed acceptance testing of the first stage of its small class Alpha rocket. The stage completed a 35-second static fire demonstrating a full range of thrust vector control maneuvers. The first stage of the Alpha rocket has since been shipped to Firefly’s launch complex at Space Launch Complex 2 West (SLC-2W) at Vandenberg Air Force Base in California. In Novemeber 2020 Firelfy began the integration process of the payloads for the maiden Alpha launch.
In December 2020, Astra and Firefly were awarded Venture Class Launch Services Demonstration 2 firm fixed-priced contracts by NASA’s Launch Services Program along with a third small class launcher, California based Relativity Space. Astra received $3.9 million in funding while Firefly was awarded $9.8 million and Relativity received $3 million to place CubeSats in Low Earth Orbit.
SmallSats and CubeSats are quickly becoming the preferred method of operating in orbit because it is technology and opportunity that is attainable for many smaller companies and other parties interested in reaching space such as universities. As SmallSats continue to rise in popularity so too will the demand to launch them. 2021 is already shaping up to become the year that produces the highest amount of private commercialized spaceflight, ever.
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Elon Musk
Elon Musk’s net worth is nearing $800 billion, and it’s no small part due to xAI
A newly confirmed $20 billion xAI funding round valued the business at $250 billion, adding an estimated $62 billion to Musk’s fortune.
Elon Musk moved within reach of an unprecedented $800 billion net worth after private investors sharply increased the valuation of xAI Holdings, his artificial intelligence and social media company.
A newly confirmed $20 billion funding round valued the business at $250 billion, adding an estimated $62 billion to Musk’s fortune and widening his lead as the world’s wealthiest individual.
xAI’s valuation jump
Forbes confirmed that xAI Holdings was valued at $250 billion following its $20 billion funding round. That’s more than double the $113 billion valuation Musk cited when he merged his AI startup xAI with social media platform X last year. Musk owned roughly 49% of the combined company, which Forbes estimated was worth about $122 billion after the deal closed.
xAI’s recent valuation increase pushed Musk’s total net worth to approximately $780 billion, as per Forbes’ Real-Time Billionaires List. The jump represented one of the single largest wealth gains ever recorded in a private funding round.
Interestingly enough, xAI’s funding round also boosted the AI startup’s other billionaire investors. Saudi investor Prince Alwaleed Bin Talal Alsaud held an estimated 1.6% stake in xAI worth about $4 billion, so the recent funding round boosted his net worth to $19.4 billion. Twitter co-founder Jack Dorsey and Oracle co-founder Larry Ellison each owned roughly 0.8% stakes that are now valued at about $2.1 billion, increasing their net worths to $6 billion and $241 billion, respectively.
The backbone of Musk’s net worth
Despite xAI’s rapid rise, Musk’s net worth is still primarily anchored by SpaceX and Tesla. SpaceX represents Musk’s single most valuable asset, with his 42% stake in the private space company estimated at roughly $336 billion.
Tesla ranks second among Musk’s holdings, as he owns about 12% of the EV maker’s common stock, which is worth approximately $307 billion.
Over the past year, Musk crossed a series of historic milestones, becoming the first person ever worth $500 billion, $600 billion, and $700 billion. He also widened his lead over the world’s second-richest individual, Larry Page, by more than $500 billion.
News
Tesla Cybercab sighting confirms one highly requested feature
The feature will likely allow the Cybercab to continue operating even in conditions when its cameras could be covered with dust, mud, or road grime.
A recent sighting of Tesla’s Cybercab prototype in Chicago appears to confirm a long-requested feature for the autonomous two-seater.
The feature will likely allow the Cybercab to continue operating even in conditions when its cameras could be covered with dust, mud, or road grime.
The Cybercab’s camera washer
The Cybercab prototype in question was sighted in Chicago, and its image was shared widely on social media. While the autonomous two-seater itself was visibly dirty, its rear camera area stood out as noticeably cleaner than the rest of the car. Traces of water were also visible on the trunk. This suggested that the Cybercab is equipped with a rear camera washer.
As noted by Model Y owner and industry watcher Sawyer Merritt, a rear camera washer is a feature many Tesla owners have requested for years, particularly in snowy or wet regions where camera obstruction can affect visibility and the performance of systems like Full Self-Driving (FSD).
While only the rear camera washer was clearly visible, the sighting raises the possibility that Tesla may equip the Cybercab’s other external cameras with similar cleaning systems. Given the vehicle’s fully autonomous design, redundant visibility safeguards would be a logical inclusion.
The Cybercab in Tesla’s autonomous world
The Cybercab is Tesla’s first purpose-built autonomous ride-hailing vehicle, and it is expected to enter production later this year. The vehicle was unveiled in October 2024 at the “We, Robot” event in Los Angeles, and it is expected to be a major growth driver for Tesla as it continues its transition toward an AI- and robotics-focused company. The Cybercab will not include a steering wheel or pedals and is intended to carry one or two passengers per trip, a decision Tesla says reflects real-world ride-hailing usage data.
The Cybercab is also expected to feature in-vehicle entertainment through its center touchscreen, wireless charging, and other rider-focused amenities. Musk has also hinted that the vehicle includes far more innovation than is immediately apparent, stating on X that “there is so much to this car that is not obvious on the surface.”
News
Tesla seen as early winner as Canada reopens door to China-made EVs
Tesla had already prepared for Chinese exports to Canada in 2023 by equipping its Shanghai Gigafactory to produce a Canada-specific version of the Model Y.
Tesla seems poised to be an early beneficiary of Canada’s decision to reopen imports of Chinese-made electric vehicles, following the removal of a 100% tariff that halted shipments last year.
Thanks to Giga Shanghai’s capability to produce Canadian-spec vehicles, it might only be a matter of time before Tesla is able to export vehicles to Canada from China once more.
Under the new U.S.–Canada trade agreement, Canada will allow up to 49,000 vehicles per year to be imported from China at a 6.1% tariff, with the quota potentially rising to 70,000 units within five years, according to Prime Minister Mark Carney.
Half of the initial quota is reserved for vehicles priced under CAD 35,000, a threshold above current Tesla models, though the electric vehicle maker could still benefit from the rule change, as noted in a Reuters report.
Tesla had already prepared for Chinese exports to Canada in 2023 by equipping its Shanghai Gigafactory to produce a Canada-specific version of the Model Y. That year, Tesla began shipping vehicles from Shanghai to Canada, contributing to a sharp 460% year-over-year increase in China-built vehicle imports through Vancouver.
When Ottawa imposed a 100% tariff in 2024, however, Tesla halted those shipments and shifted Canadian supply to its U.S. and Berlin factories. With tariffs now reduced, Tesla could quickly resume China-to-Canada exports.
Beyond manufacturing flexibility, Tesla could also benefit from its established retail presence in Canada. The automaker operates 39 stores across Canada, while Chinese brands like BYD and Nio have yet to enter the Canadian market directly. Tesla’s relatively small lineup, which is comprised of four core models plus the Cybertruck, allows it to move faster on marketing and logistics than competitors with broader portfolios.
Elon Musk’s net worth is nearing $800 billion, and it’s no small part due to xAI
Tesla Cybercab sighting confirms one highly requested feature
