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It's worth noting that Schmidt restructured Relativity Space’s finances to take the controlling stake, which diluted existing investors’ ownership https://t.co/135tKdx8u1
Why now? Relativity’s vision aligns with Schmidt’s interest in big tech challenges. The company aims for Mars and low-cost launches, but faces stiff competition. Will Schmidt’s $39B net worth and connections could give them an edge.
Schmidt’s leadership comes as Relativity hits milestones: Terran R’s design is complete, propulsion testing is underway, and flight production has started.
Relativity Space, founded in 2015, builds 3D-printed reusable rockets like SpaceX’s Falcon 9. With $2.4B raised, they’re gearing up to launch Terran R in 2026 to compete in the commercial space market.
🚀 Breaking News: Eric Schmidt, former Google CEO, is taking the helm at Relativity Space as CEO! He’s also grabbing a controlling stake in the rocket startup. Big move in the space race. #RelativitySpace#SpaceX
@BLSmith2112@SawyerMerritt lol. just a rate buy down with chase acting as lender. They still book profit on each sale while also boosting demand. The interest they would have earned over the 60 month term assuming the 20% down, would be ~$4k, amortized over 60 mos. Lending isn’t their prime biz model…
@CanteringClark The theory that has stuck with me since FOMC, is that Powell has insight into a very bad economic outcome (re - earnings compression, tightening/raising so fast). I.E. he knows it'll be bad, so let it rip, allowing more buffer for the coming correction.