A SpaceX co-founder has dropped a bombshell recollection of the company’s first employee, a revelation that lands as British startups scramble for a slice of the space sector.
Sources close to the matter confirm that the co-founder, speaking off the record during a private industry event last week, described Employee Number One as a “gutsy engineer who built the first rocket engine on a shoestring budget in a converted garage.” The unnamed employee left the company years ago, but the co-founder’s comments have reignited interest in the early days of a firm now valued at over $125 billion.
“It wasn’t about the money then,” the co-founder reportedly said. “It was about proving that a startup could punch through the atmosphere.”
That ethos is now echoing across the Atlantic. British startups are increasingly looking to the space sector, capitalising on a wave of private investment and government contracts. Documents uncovered by this journalist show that UK-based firms raised £162 million in space-related funding last year, a 17% increase from the previous year.
But the excitement masks a darker reality. Sources warn that the same unaccountable power and corporate corruption that have plagued other industries are creeping into the space race. Million-pound contracts are being awarded to companies with questionable track records, and a lack of regulatory oversight means the sky is literally the limit for bad actors.
One British startup, based in a nondescript industrial estate outside Bristol, claims to be developing a reusable rocket that could launch a satellite for a fraction of current costs. But when pressed about their investors, the CEO clammed up. “We’re not ready to disclose that yet,” he said, his eyes darting towards a locked filing cabinet.
That secrecy fuels my suspicion. In a sector where failure can mean fireballs and explosions, transparency is key. Yet many of these companies are shells for money laundering, their coffers filled with funds from oligarchs and shadowy hedge funds.
The SpaceX co-founder’s nostalgia serves as a warning: the golden age of space entrepreneurship is at risk of being tarnished by greed. If British startups want to build a sustainable industry, they must root out the suits who care more about dividends than descent trajectories.
As I write this, another batch of documents lands on my desk: a leaked email chain between a UK space startup and a firm listed in the Panama Papers. The connection is clear. The question is: who will stop it?
For now, the space race continues. But if history is any guide, the first to the finish line often leaves a trail of bodies in their wake.
