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#13 Elon Musk and Why SpaceX Will Colonize Mars
Founders
Embrace Risk to Streamline Aerospace Costs
The aerospace industry faces high costs due to a culture of risk aversion prevalent among large companies, which often prioritize minimizing their own liabilities over adopting newer technologies. This reluctance leads to reliance on outdated components, such as rocket engines from the 1960s, rather than pursuing innovation. Additionally, a lack of vertical integration contributes to increased expenses, as many aerospace firms outsource production to multiple layers of subcontractors, adding significant overhead costs. To reduce expenses, there is a crucial need for companies to embrace more direct manufacturing processes and take calculated risks in their operations.
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