Elon Musk's SpaceX let go 10% of its 6,000 person staff today. In May of last year, the company stated that it has had "many years" of continuing profitability and in recent weeks raised $273 million so far in a planned $500 million funding round.
"To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company," SpaceX president Gwynne Shotwell wrote in an email to employees. "Either of these developments, even when attempted separately, have bankrupted other organizations. This means we must part ways with some talented and hardworking members of our team..."
From the Los Angeles Times:
SpaceX makes most of its money from commercial and national security satellite launches, as well as two NASA contracts, one a multibillion-dollar deal to deliver cargo to the International Space Station and the other up to $2.6 billion to develop a capsule that will deliver astronauts to the space station. The first launch of that capsule, without a crew, is planned for February.
The Elon Musk-led company has even more ambitious — and expensive — plans. Musk has said SpaceX will conduct a “hopper test” of its Mars spaceship prototype as early as next month...
SpaceX is offering a minimum of eight weeks’ pay and other benefits to laid-off workers, according to Shotwell’s email.
Documents on an unprotected, network-connected drive owned by an employee of Nokia shed light on the inner workings of Russia’s networked surveillance system known as SORM (Russian: COPM).
Thomas Piketty, the French economist behind 2014's game-changing Capital in the 21st Century, has a new book, Capital and Ideology (out in France now, coming in English in 2020), which uses the same long-run economic series that Capital 21C benefited from to understand the relationship between wealth and ideology. Central to Piketty's thesis: that it's […]
The real estate bubble is in trouble: London's luxury housing market has been in freefall for years, and New York's retail vacancy has been soaring, even as global super-luxe housing is also tanking.
If you’re part of the maker community, you know Make:. Though Make: magazine is off the shelves as of this year, the eBooks and resources put out by Maker Media are still a fantastic resource for the new generation of tinkerers, hackers, and robotics geeks. If you’re in that tribe, listen up: they’ve released a […]
Life isn’t getting any less hectic, and pressure cookers are a quick, healthy solution for a growing number of kitchens. But if you thought your Instant Pot was versatile, there’s a major upgrade on the market: The Yedi 9-in-1 Total Package Instant Programmable Pressure Cooker. If you’ve somehow never used a pressure cooker before, try […]
When it comes to data analytics or deep learning, there’s one language behind the apps and algorithms that power the biggest companies of today: Python. The best part about this tool is that as versatile as it is, it’s actually fairly easy to learn. But mastery? For that, you need more than just a beginners’ […]