Richard Branson's Virgin Orbit rocket firm files for bankruptcy
Business InsiderAPR 2023
Virgin Orbit’s failure was neither sad nor surprising, as its leadership doomed the business before it even started. Branson and Virgin Orbit’s executives simply tried to enter a market in which there was no demand, meaning its future relied simply on the hope that either the UK or US government would buy the company. Mismanagement plagued Virgin Orbit while it bled millions of dollars. Hopefully, this is a clear warning for other companies looking to enter the space industry.
While some may lament the demise of Virgin Orbit, its sibling company Virgin Galactic is there to fill the void as it embarks on its first mission in two years. Branson’s company has worked tirelessly to update its infrastructure and will look to bring flights to the edge of space on a daily basis. One door’s closing means the opening of another, and now Virgin Galactic will receive more attention and resources to aid its advancement in the space industry.