SpaceX
SpaceX’s Crew Dragon one step closer to human spaceflight after flawless launch
SpaceX has completed the first half of its critical Crew Dragon test flight, launching the brand new spacecraft into low Earth orbit (LEO) on the back of one of its workhorse Falcon 9 rockets. The rocket performed nominally, successfully sending the human-rated vehicle on its way towards the International Space Station (ISS).
Scheduled to dock with the ISS as early as 6 am EST (13:00 UTC) March 3rd, Crew Dragon will now face the real challenge of this demonstration mission, successfully operating in orbit and autonomously docking with the ISS. Along the way, SpaceX will be flight-testing a number of technologies and systems new to the company, while also providing reams of data that will help both SpaceX and NASA determine whether Crew Dragon performed as intended and is truly ready to carry astronauts into orbit.
https://twitter.com/_TomCross_/status/1101764440800878593
While this successful launch is a critical milestone for DM-1, Crew Dragon, SpaceX, and NASA, it’s hard to say there is anything particularly shocking about its successful completion. Including this launch, SpaceX has now successfully launched Falcon 9 42 times in a row since January 2017, including seven orbital launches and ISS missions with Cargo Dragon, a heavily proven spacecraft with 16 successful missions since its 2012 debut. Put simply, SpaceX has an incredibly dense volume of experience successfully launching, landing, recovering, and refurbishing orbital-class rockets and spacecraft, as well as a proven track record of success and an ability to confront and move past challenging vehicle failures.
Crew Dragon demo mission (DM-1) is set to launch early tomorrow morning, March 2, at 2:49 a.m. EST from Kennedy Space Center. What an absolutely breathtaking scene at LC-39A. #spacex #nasa #CrewDragon #falcon9 pic.twitter.com/T95wCumGzq
— Pauline Acalin (@w00ki33) March 1, 2019
Crew Dragon’s successful launch is no less of a major achievement, even if it was about as much of a known quantity as any other Falcon 9 mission. The real challenge ahead of the spacecraft is successfully demonstrating the efficacy of its design and operations in space, particularly while interacting and docking with the ISS. Prior to tomorrow morning, all SpaceX Dragons have berthed with the ISS, meaning that they effectively come up from underneath the ISS (a lower orbit), stop a few meters away, and are ‘grappled’ by a large robotic arm (known as Canadarm2) that also attaches the spacecraft to a docking port. If – at any point during the pre-berthing approach – Cargo Dragon were to lose control, the spacecraft would essentially fall back down the gravitational hill it had just climbed, a built-in abort that would nominally prevent the spacecraft from impacting the Station in most failure scenarios.
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The launch of Crew Dragon demo (DM-1) as seen from the roof of NASA’s Vehicle Assembly Building. What a powerful and moving mission. Another step closer! #spacex #nasa #CrewDragon pic.twitter.com/aWIPtDcVir
— Pauline Acalin (@w00ki33) March 2, 2019
Crew Dragon, on the other hand, has been designed to dock with the ISS. Generally speaking, this means that the spacecraft will approach the Station side-on, as if it were a car accelerating faster than another car in the same ‘lane’. While there are many built-in points during the docking approach where Crew Dragon will halt all forward movement, the differing docking approach means that any loss of control or contact while on a vector towards the ISS could mean that it is unable to abort, significantly increasing the likelihood of an impact event in worst-case scenarios. While Crew Dragon is designed with extreme redundancy and fault-tolerance in mind, the stakes are definitively higher compared to Cargo Dragon.
Liftoff of Dragon 2 at 2:49am! SpaceX’s first flight of their new capsule preparing to take astronauts back to the International Space Station from American soil.
See the full launch gallery and support NASAspaceflight by subscribing to L2: https://t.co/whUFQd0FNU pic.twitter.com/TIhJxCSM8j
— Brady Kenniston (@TheFavoritist) March 2, 2019
Conscious of this fact, the new spacecraft will be tasked with completing a significant number of on-orbit maneuvers to verify nominal performance before allowing the autonomous vehicle to attempt a docking with the ISS. While that docking attempt is scheduled to occur as early as 6 am EST (13:00 UTC), live coverage – hosted by both NASA and SpaceX – will begin around 3:30 am EST (10:30 UTC) on Sunday, March 3rd. While these on-orbit webcasts can admittedly be rather dry compared to the thrill of launch, it will arguably be the most significant and mission-critical portion of Crew Dragon’s launch debut, alongside the spacecraft’s safe reentry and Atlantic Ocean landing and recovery. Follow along live at spacex.com/webcast.
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Elon Musk has declared that SpaceX has effectively solved one of Starship’s most persistent engineering challenges: the reliability of its heat shield tiles.
During the company’s first-ever Earnings Call, the SpaceX CEO stated:
“I don’t want to jinx it or anything, but I think I would call the heat shield problem solved at this point. All indications from data and visual inspection is we have solved it. That doesn’t mean we won’t make improvements, but we do not see any technical obstacles to achieving rapid reusability at this point.”
Starship’s heat shield consists of roughly 18,000 hexagonal ceramic tiles covering the windward side of the upper stage. These tiles form the thermal protection system that shields the vehicle’s stainless-steel structure from the extreme heat of atmospheric reentry.
Elon says he believes the heat shield problem with Starship is currently solved.
He called it “arguably the single biggest problem” pic.twitter.com/eEE9vM5zlz
— TESLARATI (@Teslarati) August 4, 2026
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During descent, atmospheric friction generates temperatures exceeding several thousand degrees Celsius and creates plasma flows capable of melting unprotected metal. The tiles absorb, radiate, and insulate against this energy, allowing the vehicle to survive and potentially fly again. Without a durable heat shield, full and rapid reusability, the cornerstone of Starship’s design for frequent launches, satellite deployments, and deep-space missions, would remain impossible.
The tiles have long been a source of difficulty. On earlier test flights, a significant number of tiles detached during ascent due to vibration, aerodynamic loads, and imperfect attachment methods using pins and adhesives. Gaps between tiles allowed hot plasma to infiltrate, causing secondary damage and hot spots on the underlying structure.
These issues echoed challenges faced by NASA’s Space Shuttle, whose ceramic tiles required extensive, labor-intensive inspections and replacements between missions, preventing rapid turnaround. SpaceX has iteratively improved materials, standardized tile shapes, refined attachment techniques, added secondary ablative layers, and tested sealing methods such as “crunch wrap” felt to close gaps.
Progress was visible across Flights 10–12, with steadily better tile retention, yet questions remained about whether the system could support the minimal-refurbishment goal of rapid reuse.
Flight 13 on July 24 provided the decisive evidence. Ship 40 flew a deliberately more demanding profile with higher dynamic pressure to stress the heat shield beyond typical operational loads. It successfully deployed 20 operational Starlink V3 satellites, the first such payload on a Starship mission, performed an in-space Raptor engine relight, and executed a controlled reentry.
Elon Musk sheds two new bits of detail on Starship after 13th test launch
Cameras on six of the satellites and onboard sensors captured extensive imagery and data of the shield throughout the flight. The ship then achieved its softest splashdown to date in the Indian Ocean, remaining intact and floating rather than breaking apart or exploding as on prior missions. This allowed drone inspections and continuous telemetry of the heat shield in near-real time.
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Post-flight analysis showed the majority of tiles remaining attached with only minor damage and limited plasma streaking at seams. Musk noted that the mission delivered “all the heat shield data we needed and then some.” Combined with visual inspections, these results underpinned his subsequent assessment that the core technical barriers to rapid reusability have been cleared. While refinements will continue, Flight 13 marked a pivotal step toward Starship’s operational future.
SpaceX COO Gwynne Shotwell outlined ambitious plans for Starlink Mobile during the company’s August 4 Earnings call, signaling a direct challenge to U.S. wireless giants like AT&T, T-Mobile, and Verizon.
Shotwell noted that the three companies generate roughly $600 billion in combined annual revenue. “I anticipate us to be able to acquire quite a few of their customers because I think our service will be better,” she said. “We will eliminate dead zones leveraging the satellites in orbit. It will be better during any natural disaster… I’m quite excited about Starlink Mobile.”
SpaceX President & COO Gwynne Shotwell on @Starlink Mobile and its impact on Verizon, AT&T and T-Mobile:
“Roughly, between them, $600 billion a year. I anticipate us to be able to acquire quite a few of their customers. Our service will be better. We will eliminate dead zones… pic.twitter.com/UYZUkrGc0L
— Sawyer Merritt (@SawyerMerritt) August 4, 2026
SpaceX intends to combine its satellite constellation with terrestrial infrastructure. The company has acquired about 65 MHz of spectrum from EchoStar and plans to deploy next-generation Starlink Mobile satellites in 2027, with upgraded service targeted for the end of that year.
Shotwell described the enhanced network, leveraging more satellites and spectrum, as potentially “100 times better” than the current direct-to-cell offering, which already supports basic texting and app-based voice/video in coverage gaps through partnerships. She also indicated plans for low-cost cellular base stations that could integrate with existing Starlink dishes, creating a hybrid system for broader capacity in urban, suburban, and rural areas.
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For the general public, Starlink Mobile promises significant advantages. Satellite connectivity can fill gaps where traditional cell towers fail, delivering service in remote locations, mountains, or during outages caused by storms, wildfires, or infrastructure damage—conditions in which ground networks often collapse.
Users could enjoy more consistent coverage without relying solely on dense tower builds, potentially at competitive prices as SpaceX scales. The hybrid approach aims to support full mobile services, including higher-speed data, while working with unmodified smartphones over time.
These developments revive long-standing but unfounded rumors of a Musk-developed “Tesla phone.” Speculative claims of a “Pi Phone” or similar device with built-in Starlink connectivity have circulated for years on social media, often featuring fabricated images and details. Elon Musk has repeatedly denied any such plans, stating Tesla has no intention of entering the smartphone market unless forced by extreme circumstances with app stores.
No official product, filings, or development announcements have ever materialized; the rumors remain hoaxes.
The announcement quickly pressured telecom stocks. Shares of AT&T, Verizon, and T-Mobile fell between roughly 2 and 4 percent in after-hours and premarket trading as investors weighed the competitive threat from a hybrid satellite-terrestrial network.
While execution challenges remain—spectrum deployment, infrastructure rollout, and regulatory hurdles—Shotwell’s remarks mark SpaceX’s clearest signal yet of entering the consumer mobile market as a full competitor.
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Venture capitalist Chamath Palihapitiya has cautioned investors shorting SpaceX shares, drawing a direct parallel to the intense short-selling pressure Tesla faced in its early public years.
Responding to reports of elevated short interest in the newly public rocket, satellite, and AI company, Palihapitiya noted that similar dynamics played out with Tesla, where aggressive short sellers ultimately “went broke.”
SpaceX (NASDAQ: SPCX) went public on June 12, 2026, in the largest IPO on record, pricing at $135 per share. Shares quickly surged to an all-time high of $225.64 just days later, briefly implying a valuation exceeding $2 trillion. The stock has since retreated sharply amid valuation concerns, lockup expiration fears, and broader market dynamics.
By early August, it traded near $108–$125, representing a roughly 50 percent decline from the peak and bringing the market capitalization closer to the $1.5–1.7 trillion range. On August 4, shares closed up more than 9 percent at $125.33 ahead of earnings before facing pressure in after-hours and premarket trading.
Short interest has climbed dramatically. According to S3 Partners data widely cited in market reports, short positions reached approximately 219.3 million shares by late July, about 34 percent of the limited public float of roughly 640 million shares, and represented a notional value of around $24.6 billion.
Utilization of shares available to borrow hit 95 percent, with borrow fees rising. This level of shorting exceeded the dollar value of short bets against Tesla at the time and built rapidly ahead of two catalysts: the company’s first post-IPO earnings and an August 6 lockup expiration that could free up to 911.5 million additional shares.
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CEO Elon Musk has issued warnings of his own. In mid-July, as short interest approached one-third of the float, he posted that “the survival probability of firms who maintain a significant short position in SpaceX over time is very low,” reiterating his view that the company could ultimately be worth more than Earth if it achieves its goals.
On August 4, just before earnings, Musk responded to the latest short-interest data by saying, “I try to warn them, but they just double down.”
SpaceX delivered its first quarterly results as a public company after the close on August 4. Second-quarter revenue rose 92 percent year-over-year to $7.8 billion, beating consensus estimates near $6.8–6.9 billion.
The net loss narrowed to $541 million, or 9 cents per share, better than the roughly 23–24 cent loss expected. Starlink/connectivity contributed about $4.3 billion (up 66 percent), while the AI business generated $2.6 billion (up roughly 250 percent). Capital expenditures were heavy at $18.4 billion, largely tied to AI infrastructure. Management projected a $100 billion annualized revenue run rate by year-end 2026 and outlined a path toward $1 trillion in annual revenue by 2030.
The combination of Chamath’s historical reminder, Musk’s repeated alerts, and the company’s ambitious growth targets underscores the high-stakes debate surrounding SPCX. Short sellers are positioned for near-term supply pressure from the lockup, while long-term bulls point to Starlink scale, Starship progress, and AI compute expansion as reasons the bears may ultimately face the same fate as many early Tesla skeptics.
SpaceX has solved Starship’s biggest challenge, Elon Musk says
SpaceX is coming for wireless giants with Starlink Mobile
