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Monday, October 6th, 2008
articles.php?which=ForEveryCrazyIdeaTheresACrazierInvestor
For Every Crazy Idea There's A Crazier Investor.

Here's further proof that no matter how out-there your idea is, there's someone to fund it. SpaceX, a "space exploration technologies" company secured $20 million in funding this week. Its goal is to "reduce the cost and increase the reliability of space access by a factor of ten." Nevermind that the most recent space ship they constructed—and launched—crashed in the Pacific with the ashes of 208 people, including the actor who played Scotty on Star Trek aboard (Don't ask us...). Three other rockets that they've launched have also gone down in flames.

If you're wondering how a business like that could get more than a dime from a VC, there's a simple answer. SpaceX CEO Elon Musk is the former co-founder of Paypal. And the VC firm funding SpaceX is operated by Peter Thiel, the eccentric other founding half of Paypal. While obviously Thiel's relationship with Musk played a role in his decision to fund SpaceX, he's nonetheless known for strange investments. He most recently invested half a million dollars in the Seasteading Institute, a company whose goal is to start "libertarian ocean colonies." Need we say more?

SpaceX

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