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What do you mean "let it fail?" SpaceX has the most profitable launch system in the world and now operates >50% of all satellites in orbit. They aren't exactly in need of a bailout.

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So proof of profitability is that they can shoot their own satellites into orbit?

The proof is that they are continuing to launch more mass into orbit than any other entity on the planet - while holding share liquidity events for their employees multiple times a year where they buy back shares. Proof is that they charge a lower cost to orbit than any of their competitors and has done so for years now.

Their revenue from Starlink is slated to be bigger than the entire NASA budget this year.

When a company is operating at a scale where you are making orders of magnitude more orbital launches than NASA, operating a constellations of 10,000+ satellites, providing internet access to 10s of millions of people and 1 army, has raised $10s of billions in private markets at valuations in the $100s of billions, then the burden of proof is on you claiming the opposite.

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