Everyone from financier Michael Milken to bankers and venture capitalists had an opinion about the market-rattling coronavirus at the annual Montgomery Summit in Santa Monica that gathered top-flight investors and entrepreneurs. "Some of you made a tough decision by coming here," conference organizer Jamie Montgomery told a lunchtime crowd. "I'll breath easy the next couple weeks if nothing happens."
Relativity Space co-founder Tim Ellis said Thursday that he expects that 20,000 satellites will launch in the next five years, representing a $25 billion market for the 3D rocket printer to compete in.
The company, which recently announced it is moving into a new headquarters complex in Long Beach, is currently building its first rocket, which is expected to launch next year. His goal is to make the company a strong competitor in the $350 billion space economy against bigger rivals like Space X and Jeff Bezos' Blue Origin.
Space City – Long Beach?
The oceanside city, known by tourists as the home of the Queen Mary, scored another win as it competes with Houston and Cape Canaveral as a hub for the new privately-led space race. Relativity Space, a five-year-old rocket maker, is opening a new 120,000 square foot manufacturing facility in Long Beach that bolsters the city's economic ambitions.
Relativity joins Virgin Orbit, Google-backed SpinLaunch, and others that established headquarters in Long Beach. Relativity's Friday announcement that its relocating from Los Angeles is another step in reviving the city's reputation as an aerospace hub.