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Blasting Rich People Into Space Is Better Business Than Uber, Somehow

Posted in business, transportation

Virgin Galactic is preparing to become the first publicly traded spaceflight company, and the venture is setting a course to be profitable by August 2021, which would put it lightyears ahead of the profitability projections of another transportation-based company that simply moves people around on Earth: Uber.

The Wall Street Journal reports that Virgin Galactic is merging with Social Capital Hedosophia Holdings (SCH), which will take a 49 percent stake and invest about $800 million into the space tourism endeavor.

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