Elon Musk implemented several innovative ideas to make SpaceX a low-cost supplier in the space industry. One of the key strategies was the development and use of reusable rockets, which significantly reduced the cost of each launch. SpaceX's Falcon 9 and Falcon Heavy rockets are designed to return to a landing site instead of falling into the ocean after each launch, unlike traditional rockets. This reusability factor drastically cuts the cost of space travel. Another innovation was the in-house manufacturing of most of the rocket components, which helped SpaceX to control costs, quality, and supply chain. Furthermore, SpaceX's approach to constant iteration and improvement of its technology also contributed to cost reduction and efficiency.
Elon Musk's ascension has been described by experts as the fastest bout of wealth creation in histor...
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