Crony capitalism stinks all the away around but when young innovative companies engage in it it’s especially frustrating. Elon Musk, Mr. SpaceX and Mr. Tesla, has long benefited from the goodwill of the American (or in this case Texas) taxpayers.
(From The Washington Free Beacon)
Shortly before a private spaceflight company’s test rocket exploded over southern Texas last weekend, state lawmakers announced millions in subsidies to get the company to continue launching rockets in the Lone Star State.
Space Exploration Technologies, commonly known as SpaceX, will receive more than $15 million in public financing to build a launch pad in Cameron County, near the Mexican border.
The subsidies came after SpaceX’s founder, billionaire tech mogul and pop technologist Elon Musk, made campaign contributions to key state lawmakers and hired lobbyists with ties to Austin.