The VC watched Musk speak to staff after a rocket launch failed, and the company used up all of its $100 million in funding.
, the Falcon 1 launch is cited as the beginning of a new boom in private funding for space companies. Anderson invested in SpaceX soon after.A VC on Elon Musk's SpaceX board says founders who can't answer this question might miss out on millions in funding."We're looking for founders that have similar approaches to this market as SpaceX — you need vision and real chops," Anderson told Business Insider in an interview.
He also cites three other characteristics and qualities which are apparent in both Musk and founders at Space Angels Network's portfolio companies, in his opinion.2. Careful planning and communication. The best founders provide assurance and security to employees even while they are attempting something very risky.
3. Lead by example and help employees believe that if they expect as much of themselves as the founder does, together they can accomplish incredible things. As with every exciting new market to enter there are those seeking to build businesses which may not stand the test of time or scrutiny. Unsurprisingly, it's not rocket science to expect that space tech founders have a strong grasp of physics in their repertoire, said Anderson.
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