Virgin Galactic Is Looking For 1,000 People To Buy Its $450,000 Spaceflight Tickets (engadget.com) 70
Virgin Galactic announced that it's opening ticket sales to the general public for its spaceflight system, "letting you become an astronaut if you're willing to pay $450,000 and put down a $150,000 deposit," reports Engadget. From the report: For that $450K, you'll get a 90-minute ride to the edge of space including the "signature air launch and Mach-3 boost to space," the company said. Passengers will enjoy several minutes of weightlessness and spectacular views of Earth from the 17 windows, as it showed in a new video (below). The ticket also includes several days of astronaut training, a fitted Under Armour spacesuit, and membership in the Future Astronaut community. All flights launch from Spaceport America in New Mexico.
"We plan to have our first 1,000 customers on board at the start of commercial service later this year, providing an incredibly strong foundation as we begin regular operations and scale our fleet," said Virgin Galactic CEO Michael Colglazier in a statement. As of late last year, the company had sold 100 tickets to space at the updated $450,000 ticket price. Around 700 people, including Elon Musk, have made reservations.
"We plan to have our first 1,000 customers on board at the start of commercial service later this year, providing an incredibly strong foundation as we begin regular operations and scale our fleet," said Virgin Galactic CEO Michael Colglazier in a statement. As of late last year, the company had sold 100 tickets to space at the updated $450,000 ticket price. Around 700 people, including Elon Musk, have made reservations.
First, they need a launch system (Score:2, Insightful)
I suppose there are varying definitions of space, but for my money, if they aren't reaching a potentially stable orbit, it's just high atmosphere.
I just read up on "Virgin Orbit", which is the spinoff that has actually (once?) managed to launch a couple of cube-sats into orbit. "Virgin Orbit underwent a SPAC merger with NextGen Acquisition Corp. II to become public.. These SPACs (Special Purpose Acquisition Companies) are coming up more and more often in the news, and they sound like some sort of rigged g
Re: First, they need a launch system (Score:2)
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swing.
and a miss.
i thought virgin had hired an evangelical in the marketing department
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It's a lot of money for 10 minutes on the edge of space. The first person ever to reach space managed to do one orbit.
Re:First, they need a launch system (Score:5, Informative)
I'm a SPAC investor. It works like this: The SPAC does an IPO at $10/share. This money goes into a trust account. The SPAC has no operations. Investment is done on the perceived strength of the mangers. Their whole purpose is to affect a merger within 18 months. If they fail to complete a deal by then, the money in the trust is returned to shareholders, plus interest, minus expenses. So while it is a mostly-blind investment, that reduces the risk that they fail to make a deal. If they do make a deal, it generally include a PIPE (Private Investment in Public Equity) which is additional shares sold to (usually institutional) investors to make up the balance of whatever the merger target is perceived to be worth. The target company gets the money in the trust, plus the money from the PIPE. After the merger is announced, individual stockholders have the option to participate, or to get their $10 (plus interest, minus expenses) back instead. If the SPAC managers and the target company managers all do a good job, after the merger the stock will continue to trade at $10. If the SPAC managers do a better job, then the price of the stock goes up; investors made more money, but the target company still only got the $10! If the stock price goes down, it means the target company received more than the market thinks they're worth, and they did better.
The reason it is popular is that since there are no operations when the SPAC does the IPO, there are almost no disclosures. The prospectus is just details about the SPAC setup, not the actual business that you're investing in. So the paperwork is easy, and not informative. And the merger target has limited public disclosures until well after the merger when they eventually file a annual report. This not only saves money, but it means that the IPO process doesn't expose information to competitors before they've received the money.
There are no tax advantages. It is all about the timing and expense of paperwork and when the listing compliance rules take full effect.
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You realise that the reason we have disclosure requirements for IPOs is so that investors don't get fleeced. There is a valid argument that some of this could be streamlined, but the SPAC structure is basically trading transparency for 'trust' in whoever the SPAC sponsor is.
While there is no reason that couldn't work out well, such opacity is essentially how Madoff was able to run his empire for so long. There is a long history of new schemes which resulted in investors being fleeced, and almost all of thos
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And thats the problem with your argument.... because this is what actually happens when they follow your disclosure logic to its conclusion... and you are not happy
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By using a shell company to go public, the target company can avoid the scrutiny that it would otherwise be required to submit to.
Regulations mandating public disclosure in the run up to an IPO are there specifically to stop the public getting screwed over. These regulations are there for a reason - there's clearly been a time when this was a problem.
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How I look at it is that a SPAC has a professional management team. They are there to merge with *somebody*, but not just *anybody*. The investors in the SPAC are trusting that the management team does a good job, picks a good company to merge with, and does all their due diligence.
I'm fairly new to investing, and I know I don't even know all the right questions to ask of an IPO, let alone be able to correctly interpret all the answers. Plus, any investor in a SPAC still has, right up to the last minute,
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You won't get fleeced; read the prospectus, it explains that it is a high risk investment, and you don't know what you're buying.
That's not getting fleeced at all, the risk is fully disclosed. There is no trick, no scam.
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Sounds like a loophole to enable a pump and dump.
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That could happen, but usually that is outside forces driving the price up at the merger announcement, then it dumps back towards $10. There is very heavy gravity towards $10, because if it is below that you can just opt out and get your $10 back (plus interest, minus expenses). And on the other side, the PIPE is usually larger than the IPO, and those shares will be near $10 too. Often a little higher, but including a bunch of $11.50 warrants, too. And there are also $11.50 warrants that get issued as part
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I suppose there are varying definitions of space, but for my money, if they aren't reaching a potentially stable orbit, it's just high atmosphere.
The conventional definition of "space" is above the von Kármán line, 100 km. This is pretty much above the atmosphere. By this definition... Virgin Galactic almost, but doesn't quite make it. (record for their aircraft is 82.7 km.)
To stay in space (for more than a few minutes), you need to get to orbit.
I just read up on "Virgin Orbit", which is the spinoff that has actually (once?) managed to launch a couple of cube-sats into orbit.
Yep, Virgin Orbit launches into orbit; they've so far done it three times. But not people.
For fun? (Score:2)
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Richard Branson is his friend. I suspect the Tesla board would not approve him flying on it at this early stage. His compensation plan forbids him from engaging in unreasonably risky activities. But over time he may be allowed to take a flight. He doesn’t have other plans to fly in space that I’m aware of.
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Unreasonably risky activities, huh? They really have a lot of confidence about this, don't they? If they consider going on this flight unreasonably risky activity, well, I'm not sure I could be paid enough to consider going myself ;)
Nota bene (Score:2)
Note that one of those people will probably die.
Re: Nota bene (Score:2)
Is this how we get rid of all the streamers in one go? (Because you know it will be full of rich YouTube personalities.) One mistaked check/value and the whole thing lights up like a giant candle.
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you are thinking *way* to small.
mandatory tickets for all celebrities!
frequent repeat trips for the survivors!
hmm, maybe there *is* a use for Boeing engineering here . . .
Re: Those fading memories of a useful Internet... (Score:2, Funny)
General Public? (Score:2, Informative)
Virgin Galactic Is Looking For 1,000 People To Buy Its $450,000 Spaceflight Tickets
The General public cannot afford $450,000 spaceflight tickets. The General 1% is, however, able to afford such a frivolity so the headline should be correspondingly modified.
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What's the attraction? You get to be the Nth tourist to the edge of space, not exactly a big deal.
Seems like a huge lack of imagination if that's the best you can come up with to spend $450k on.
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The attraction, I imagine, would be the unique experience of going up to the edge of space on a rocket. Some weightlessness and cool views.
Sure you're not Neil Armstrong but seems fun, I'd do it if it were cheaper. But if you have fuck-you money, $450k might not be a big deal.
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The General 1% is, however, able to afford such a frivolity so the headline should be correspondingly modified.
"frivolity" indeed. I know a few rich people who might possibly pony up that much for an orbital flight. But for a glorified vomit-comet? I think they may be struggling to sell that many seats.
If SpaceX gets Starship working, they should be able to do lunar flyby flights (like Dear Moon) for that sort of money per seat, and the demand will be huge.
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Even 1%'ers would balk at a $450,000 space plane ticket. At that income level, you're still making "only" $500,000 a year.
The 0.1%'ers wouldn't mind spending that kind of money, though. I'm not sure if there are enough of those available who are willing to risk getting blown up in a rocket explosion, though.
Sorry (Score:3)
"Virgin Galactic Is Looking For 1,000 People To Buy Its $450,000 Spaceflight Tickets"
I spent a few minutes looking through the couch cushions, but so far I've only managed 57 cents and a Peppermint Life Saver.
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Okay, okay.
To you my friend, $449,000
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I'll take a couch cushion too, just in case the problems occur over land.
First 1000 customers.. (Score:2)
profligate waste of money (Score:3)
Re:profligate waste of money (Score:4, Interesting)
Think of what could be done with $450,000,000. Freeway overpasses, parking stations, football stadiums, studies of bellybutton lint. It's a crime.
Considering the billions (trillions?) of dollars spent building churches over the centuries, think of what could have been done with that money to feed the poor, house the homeless, etc. It's a crime.
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Unfortunately, what we're seeing here isn't really "creating" anything. It's rich people shuffling money about among themselves while looking down their noses at those of us that would rather see that money put to positive use. Or, heavens forbid, get circulating in the general economy again instead of being holed up or shuffled among mad money bros.
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Well, sure. But that's a millionaire's favorite hobby anyway. Never mind when you get to billionaire territory. Yachts, private jets, limos, now we're into rockets.
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$450 thousand, not $450 million. That's not even close to one freeway overpass or football stadium. Maybe a cheap parking station though. One could argue it's still a waste, but nowhere near as bad as a $450 million price tag would be.
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$450 thousand, not $450 million.
A thousand tickets at $450,000 each.
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Think of what could be done with the $85,000,000,000 spent on video games annually. Or doesn't that count because it is only a few dollars at a time?
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Astronaut (Score:2)
"letting you become an astronaut..." ... Unless the FAA had modified the criteria to become an astronaut two months ago [slashdot.org], explicitly preventing passengers from commertial flights from being called astronauts. Sorry guys, this is just a huge rollercoaster experience, you are not getting your wings.
Re: Astronaut (Score:2)
Unless each one of them participates on a space mission. And you'd better believe all passengers will be trying to twist the definition of a space mission, lol.
Just wait a couple years (Score:3)
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Brings up an interesting question. Airlines don't dare charge customers by weight. Luggage is no problem but the human beings don't get weighed. Or measured to see if they fit in the seats.
There would likely be some legal issues if they tried. Some people have disabilities that affect their weight, for example.
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"There would likely be some legal issues if they tried"
No. For example, clothing companies are not required to sell all sizes at the same price.
Maybe if they called it something honest like The Lazy Fat Fucker Surcharge, there would be grounds for a case ?
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There most likely will be PR issues (disasters?).
Assuming you don't buy your ticket the day of the flight, you could gain (or lose) weight (or even declare a different weight when buying the ticket).
You have on one end the boxers that "gain" a couple of kilograms (or more) between the official weighing and the match.
You also have the rowing teams' coxswain, which actually loses that couple of kilograms between weighing and race (because too light a coxswain brings a race time penalty).
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Some people have disabilities that affect their weight, for example.
Yes they do and as the insanity is bound to continue, restaurants of the future will no noubt have to provide extra helpings for those with eating disorders.
Idiocracy isn't coming; it's here: "Jackass Forever" = "Ow My Balls"
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You sure?
https://www.theguardian.com/wo... [theguardian.com]
There has been at least one airlines which has been charging by your weight since a few years ago. Not sure if they are still doing it.
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This has already come up with space tourism. Someone who was supposed to go on the Inspiration4 orbital tourist flight gave his seat to a friend because he didn't think he could lose enough weight in time for the mission. There were no legal issues or bad publicity there.
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Maybe people are more understanding with space because it's accepted that weight is a huge factor, where as on aircraft it's just a question of a few bucks more on fuel.
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> I've seen estimates as low as $50 per pound to orbit.
sounds good . . . but what is the return fare?
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If some of the cost estimates are true, a few years from now SpaceX could be offering orbital tourist trips aboard Starship for less than $100,000 per person, and that's a conservative estimate. I've seen estimates as low as $50 per pound to orbit.
You are only getting a ride into space for $50 per pound ($110/kg) of your body weight if you don't mind being stuffed into a box without air - like a piece of luggage (but the weight of the box would increase the cost a bit).
How much would it cost to launch you, and something that keeps you alive too?
We have a good example to use as an estimate - the Dragon capsule. It can hold up to 7 people, its bare dry mass is 4200 kg, and an operational weight of 6000 kg, which would be about right with seven 70 kg hu
An astronaut eh? (Score:2)
Sure...Sure... (Score:2)
I'll gladly pay your Tuesday, for a spaceflight today.
So they like me? (Score:2)
I'm looking for thousand people paying me half a mil too for years now.
83 dollars a second (Score:2)
"Around 700 people, including Elon Musk..." (Score:2)
Around 700 people, including Elon Musk, have made reservations.
Imagine the conspiracy theories if Elon Musk goes down in flames riding an aspiring competitor's spaceplane...
Astronaut? No way. (Score:2)
> ... you become an astronaut if you're willing to pay $450,000 ...
In no way does paying for a ride make someone an astronaut any more than paying for an airline ticket makes one a pilot.
The whole concept of calling some joyriding meatbag an astronaut greatly diminishes the astronaut profession.
Wow! What a great deal! (Score:2)
At that price, why not get two? I mean, I already have a yacht to park my yacht in (lulz doesn't everyone?) so I've been looking to spend all this extra money I've made at my job. Given that prices are so low and my income so high, it's just been piling up in my bank account!
What a time to be alive, folks!
We can drive down the street and see homeless folks, the economy is teetering on the edge of collapse, but hey, at least I can spend what it would take 5 middle class folks years to make just to take a joy
It's nothing more... (Score:1)
Me, too (Score:1)
Virgin Galactic Is Looking For 1,000 People To Buy Its $450,000 Spaceflight Tickets
And I'm looking for 1,000 people to buy my $450,000 NFTs of vids I took of grass growing.
Wish in one hand and shit in the other. See which one fills up first.