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Jul 10, 2019

Blasting Rich People Into Space Is Better Business Than Uber, Somehow

Posted by in categories: business, transportation

Virgin Galactic is preparing to become the first publicly traded spaceflight company, and the venture is setting a course to be profitable by August 2021, which would put it lightyears ahead of the profitability projections of another transportation-based company that simply moves people around on Earth: Uber.

The Wall Street Journal reports that Virgin Galactic is merging with Social Capital Hedosophia Holdings (SCH), which will take a 49 percent stake and invest about $800 million into the space tourism endeavor.

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