The whole story of #VirginOrbit is such a massive shame. Look how hopeful this video was, the possibilities were endless. New jobs were to be created, new science and technology careers for young people would come to #Cornwall. For generations anyone wanting to follow a technical career had to leave. Maybe now things would start to change? Then on 9 January 2023 the first launch from Newquay failed to reach orbit. Game over. They later declared Chapter 11 bankruptcy on 4 April 2023. Sad times 😔
El Miura 1 ha volado por fin en una misión suborbital exitosa que no habría sido posible sin el apoyo financiero del sector público. PLD Space fue fundada en 2011, y ya en 2012 pudo beneficiarse de financiación pública a través del instrumento NEOTEC del Centro para el Desarrollo Tecnológico Industrial (CDTI), dependiente del Ministerio de Ciencia e Innovación. 🧵
@brucknerite
So #PLDSpace with #muira1 cost €45 million since 2011. 12 years. And #VirginOrbit started in 2017 and dissolved assets at $36 million after only 6 years.
As a comparison, #France#CNIL fined #google for breach of data protection for €50 million in 2019.
As a further comparison a house in London was bought in 2011 it was sold in June this year (2023) for £37million more than it was worth £5.8 million
No one should be surprised Virgin Orbit failed—it had a terrible business plan - Branson dug the 747 aircraft acquired by Virgin Orbit. (credit: Eric Be... - https://arstechnica.com/?p=1941760#virginorbit#space