Summary:
Eric Schmidt joins Relativity Space as its new CEO, marking his first CEO role since 2011.
He has taken a controlling interest in the startup, although the investment amount is undisclosed.
Relativity Space aims to build low-cost, reusable rockets to compete with SpaceX.
The startup targets carrying small payloads to low to medium Earth orbit.
They have long-term aspirations of creating an industrial base on Mars.
Eric Schmidt's New Venture
Eric Schmidt, the former Google CEO, has made headlines by joining Relativity Space, a rocket startup based in Long Beach, California, as its new Chief Executive Officer (CEO). This move marks Schmidt's first return to a CEO position since he stepped down from Google in 2011.
A Bold Investment
Schmidt has taken a controlling interest in Relativity Space, although the exact amount of his investment remains undisclosed. He succeeds Timothy Ellis, the current CEO and co-founder of the startup.
Competing with SpaceX
Relativity Space aims to build low-cost, reusable rockets capable of carrying small payloads of around two tons or less to low to medium Earth orbit. This initiative positions the company to compete against Elon Musk’s SpaceX, the leading name in the rocket manufacturing industry. The startup also has ambitious plans for establishing an industrial base on Mars.
The Future of Rocket Launching
As part of a new wave of startups, Relativity Space is focused on making space access more affordable by utilizing reusable technology. This strategy aims to disrupt traditional rocket manufacturing processes, which often rely on expensive, disposable rockets. Schmidt's leadership could potentially steer the company toward significant advancements in the aerospace sector.
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