Elon Musk News 12/13/2016
Daily Elon Musk News
The cherry on the cake is definitely this convoluted attempt by Musk to consolidate his “dreams” with the SolarCity merger. Neither company is financially sound. SolarCity has a hard time making money. Tesla ALMOST never makes money. So where’s the value? The notion that the two will create a solar house that charges your car for almost nothing is grand, but the timelines seem absurd. We can talk all we want about the merit of solar shingles and zero emissions. It very much is the way of the future. That doesn’t mean that Musk and his cohort are going to be the ones to succeed. As shareholders, you need to see a return on your investment. It has been years. Both companies have run up revenues. Both companies have failed to consolidate those gains. This story has Twitter (NYSE:TWTR) written all over it. In many ways both of these firms have been coddled into growth. Between subsidies and “enthusiastic” share pricing (which has allowed for large capital raising through stock sales), Tesla and SolarCity were given the fuel to get the show rolling. Unfortunately this same “incentive” has driven the two companies into complacency. Musk seems convinced that everyone will support his show to the end no matter how long it takes. The longer it takes to deliver some real results, the less likely this will be the case.
In a revised schedule released by NASA on Dec. 12, 2016, it was revealed that SpaceX has delayed test flights for its Crew Dragon spacecraft by a number of months. According to Space News, this is, in part, due to the Sept. 1 Falcon 9 pad explosion.
The NASA statement gave no reason for the delays other than it reflected a “fourth quarter update” from both SpaceX as well as the Boeing dates that were revised in October 2016.
Before the release, SpaceX was still targeting a May 2017 uncrewed test flight and a crewed flight in August 2017. However, that has been pushed to November 2017 and May 2018, respectively.
SpaceX is still investigating the exact cause of the Sept. 1 explosion. The company was hoping to return to flight as early as this week; however, last week, it was revealed the company needed more time to finalize their findings. Currently, the first flight is scheduled for early January 2017. That flight is expected to send 10 Iridium NEXT satellites into orbit from Vandenberg Air Force Base in California.