6 ms·

>massive subsidies Misinformation

eblume 10d ago
I was curious, so I checked. I don't know if this is a reputable source: https://subsidytracker.goodjobsfirst.org/parent/space-exploration-technologies-spacex https://subsidytracker.goodjobsfirst.org/parent/space-explor... If that's correct, then yeah, I struggle to find much to be upset about with this list. $106M federal loan against what they've built feels, I don't know, about correct for a telecom. Light even. The tax abatement stuff sounds gross but not surprising. (There are other forms of subsidy than this list would show, though! So, yeah, always going to be an argument.)
- inemesitaffia 9d ago
  The ~$106 million was an EXIM loan for an Israeli satellite launch. (Export financing) https://www.exim.gov/news/ex-im-bank-approves-1054-million-loan-finance-spacex-launch https://www.exim.gov/news/ex-im-bank-approves-1054-million-l... Unless the solar was also supplied by SpaceX (possible;unlikely) that amount doesn't reflect what SpaceX got i.e SpaceX gets it's cash immediately and the debtor is the Israeli launch company. (Does that constitute a subsidy to SpaceX or the foreign company?) The launch failed and SpaceX was on the hook for the money or a replacement launch as covered here https://spaceflightnow.com/2017/10/26/israels-spacecom-books-launch-with-spacex-using-pre-paid-amos-6-credits/ https://spaceflightnow.com/2017/10/26/israels-spacecom-books... There was also financing for other launches like this https://spacenews.com/ex-im-bank-finances-spacex-launch-deal/ https://spacenews.com/ex-im-bank-finances-spacex-launch-deal... and I wonder why it wasn't included. I also wonder if Spacecom, the Israeli provider didn't get other EXIM loans for its launches. SpaceX has been trying to get actual federal subsidies for ages but has been failing. (RDOF, BEAD) As for the tax abatement, it's the exact tax abatement other companies have got in the past, not something custom created for SpaceX. SpaceX spent ~$7 million a day before swallowing xAi (monumental error IMO) I don't know what amount is supposed to be massive compared to its size.

I was curious, so I checked. I don't know if this is a reputable source: https://subsidytracker.goodjobsfirst.org/parent/space-exploration-technologies-spacex https://subsidytracker.goodjobsfirst.org/parent/space-explor... If that's correct, then yeah, I struggle to find much to be upset about with this list. $106M federal loan against what they've built feels, I don't know, about correct for a telecom. Light even. The tax abatement stuff sounds gross but not surprising. (There are other forms of subsidy than this list would show, though! So, yeah, always going to be an argument.)

inemesitaffia 9d ago
The ~$106 million was an EXIM loan for an Israeli satellite launch. (Export financing) https://www.exim.gov/news/ex-im-bank-approves-1054-million-loan-finance-spacex-launch https://www.exim.gov/news/ex-im-bank-approves-1054-million-l... Unless the solar was also supplied by SpaceX (possible;unlikely) that amount doesn't reflect what SpaceX got i.e SpaceX gets it's cash immediately and the debtor is the Israeli launch company. (Does that constitute a subsidy to SpaceX or the foreign company?) The launch failed and SpaceX was on the hook for the money or a replacement launch as covered here https://spaceflightnow.com/2017/10/26/israels-spacecom-books-launch-with-spacex-using-pre-paid-amos-6-credits/ https://spaceflightnow.com/2017/10/26/israels-spacecom-books... There was also financing for other launches like this https://spacenews.com/ex-im-bank-finances-spacex-launch-deal/ https://spacenews.com/ex-im-bank-finances-spacex-launch-deal... and I wonder why it wasn't included. I also wonder if Spacecom, the Israeli provider didn't get other EXIM loans for its launches. SpaceX has been trying to get actual federal subsidies for ages but has been failing. (RDOF, BEAD) As for the tax abatement, it's the exact tax abatement other companies have got in the past, not something custom created for SpaceX. SpaceX spent ~$7 million a day before swallowing xAi (monumental error IMO) I don't know what amount is supposed to be massive compared to its size.