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Business Standard
18 hours ago
- Business
- Business Standard
Time to retire the ISS? Musk pushes for Mars as next big space destination
Elon Musk has once again stirred the space debate with call to retire the International Space Station (ISS). The SpaceX CEO shared a post on X detailing the space-related funding from US President Donald Trump's latest tax bill, which includes $1.25 billion for the ISS. Musk said, 'It's time to retire the Space Station and focus on Mars.' ELON MUSK 'It's time to retire the Space Station and focus on Mars.' — Tesla Owners Silicon Valley (@teslaownersSV) July 3, 2025 The same bill also sets aside $325 million for the safe deorbiting of the ISS by 2030 — an acknowledgement that the end of its mission may be near. Why Musk believes the ISS has outlived its purpose Musk has long been vocal about his view that the ISS no longer offers sufficient return on investment. According to him, its aging infrastructure — many parts of which are over 20 years old — poses a growing maintenance challenge and limits its scientific output. He argues that continued funding for the station pulls resources away from bigger priorities, namely, sending humans to Mars. For Musk, Mars is not just the next frontier but a crucial lifeboat for humanity's future. In his vision, planetary colonisation is essential, and all efforts — including financial ones — should now be directed toward that goal. A viral glimpse of the red planet Elon Musk's Mars ambitions are not just limited to statements. In February this year, he reignited public interest by sharing an AI-generated video on X, showcasing a futuristic city on Mars. The one-minute, 12-second clip, captioned 'Welcome to Mars', featured an advanced Martian settlement and quickly went viral. Welcome to Mars — Elon Musk (@elonmusk) February 11, 2025 A long-standing obsession with Mars Musk has never hidden his ambitions for a multi-planetary future. At the 2016 Recode Code Conference, he said, 'If things go according to plan, we should be able to launch people probably in 2024 with arrival in 2025,' referring to his plans to send humans to Mars. Aging infrastructure and deorbit plans In July 2024, Nasa had confirmed that the International Space Station (ISS) cannot remain in orbit indefinitely due to the effects of Earth's atmosphere, which causes gradual orbital decay even at its altitude of about 415 km (257 miles). Without regular reboosts, the ISS would naturally re-enter the atmosphere within one to two years, making a controlled deorbit essential to avoid the risk of debris falling on populated areas. The US space agency has evaluated various options for the station's end-of-life, including disassembly, boosting to a higher orbit, or transferring to commercial operators, but concluded that a controlled deorbit using a dedicated vehicle is the safest and only viable method. In 2024, Nasa selected SpaceX to develop this deorbit vehicle, which will guide the station to a remote part of the ocean at the end of its mission in 2030, minimising risks to people and property on Earth.
Yahoo
23-03-2025
- Business
- Yahoo
Jeff Bezos' Top Tips for Getting Richer
Amazon founder Jeff Bezos is known worldwide for being a savvy businessman, making him one of the richest people in the world, with a net worth of $213.9 billion according to Forbes. Read Next: For You: This fortune didn't appear overnight. Bezos accumulated his wealth over decades, navigating plenty of pitfalls and setbacks along the way. Despite obstacles, he remained focused on his goals, continuously learning and refining his approach to business. Along the path to obtaining billionaire status, Bezos has acquired wisdom and insight that can help other entrepreneurs looking to strike gold. Here are Jeff Bezos' top tips for getting richer: In a 1997 letter to Amazon shareholders, Bezos wrote: 'We believe that a fundamental measure of our success will be the shareholder value we create over the long term.' Bezos has always emphasized the importance of thinking less about short-term gains and more about building toward the future. That same letter included another key statement: 'We will continue to make investment decisions in light of long-term market leadership considerations rather than short-term profitability considerations or short-term Wall Street reactions.' This philosophy has been pivotal to Amazon's success, showing that wealth-building demands patience, strategic investments, and a willingness to think beyond immediate returns. Learn More: Clocking in and clocking out just to earn a paycheck is one way to go about work. But Bezos knows that building real wealth requires passion — that extra something that gets you up in the morning ready to invest your whole self into your company. Speaking at the Forum on Leadership at the George W. Bush Presidential Center, Bezos said: 'You can have a job, or you can have a career, or you can have a calling. And if you can somehow figure out how to have a calling, you have hit the jackpot.' While some chase trends for quick profits, Bezos encourages entrepreneurs to look inward and explore what they believe they can give to the world, using that drive as motivation. When work aligns with personal passion, financial success becomes a natural byproduct. Any entrepreneur would love a simple formula to make their business successful and themselves rich. But even the most successful entrepreneurs don't get it right on the first try. Bezos has repeatedly stressed the importance of being willing to try new strategies, all while innovating and adapting along the way. 'If you double the number of experiments you do per year, you're going to double your inventiveness,' he explained at the 2016 Recode Code Conference. Amazon is now a global powerhouse, but in the 1990s, the idea of an online retail business was considered revolutionary and highly risky. Many doubted Bezos' decision to leave his stable finance job and put everything into a new internet startup. 'I think that's probably true for all kinds of risks in life, not just for starting a business,' he told Business Insider in 2018. 'Life is full of different risks. And I think that, when you think about the things that you will regret when you're 80, they're almost always the things that you did not do.' This may be the most important lesson that Bezos offers for getting richer: take calculated risks in business and in life. The bigger the risk, the bigger the potential payoff. More From GOBankingRates 4 Things To Watch for as Elon Musk Takes on Social Security I'm a Retired Boomer: 6 Bills I Canceled This Year That Were a Waste of Money Warren Buffett: 10 Things Poor People Waste Money On 25 Creative Ways To Save Money This article originally appeared on Jeff Bezos' Top Tips for Getting Richer Sign in to access your portfolio
