It is not only Elon Musk and SpaceX that is trying to venture into space as private missions. In India, too, this is happening, albeit on a smaller scale. In India it is called ‘Prarambh’ (the beginning) and ISRO helped the launch this rocket, built by Skyroot Aerospace.

November 18, 2022, at 11.30am, history was created in India as Vikram-S, India’s first privately-developed rocket, had a successful lift-off from ISRO’s launch pad in Sriharikota.

The 6m rocket, which was developed by Hyderabad-based start-up Skyroot Aerospace Private Limited, hit a peak altitude of 89.5 km before splashing into the Bay of Bengal, about five minutes after the launch. Mission Prarambh was a complete success.

Skyroot Aerospace Private Limited is preparing to launch at least two rockets a month by the end of 2025 while also developing reusable rocket engines. The rocket Vikram-S is a single-stage solid fuelled, sub-orbital rocket developed over two years by incorporating advanced technologies including carbon composite structures and 3D-printed components.

Equipped with a gross lift off mass of 545kg, and payload mass of 80 kg, Vikram-S carried with it three customer payloads, which will map the measurement and validation of certain flight parameters and payload integration processes.

The booster stage of a rocket is the engine that helps it achieve ‘escape velocity’, following which the booster detaches from the main rocket, re-enters Earth, and uses small motors to land. The engine, or the booster, thus can be reused for future missions, saving costs for a rocket launch services firm. Elon Musk’s SpaceX is the only firm to have managed this feat.

To be sure, SpaceX made its first orbital commercial spaceflight in October 2008, carrying private satellites into orbit. After 14 years and over $10 billion in funding, the company does an average of over five launches every month—having completed 56 successful launch missions as of November 20.

In comparison, Skyroot Aerospace was incorporated in 2018. Skyroot Aerospace’s first launch, four years in the making, took place from the ISRO-maintained Satish Dhawan Space Centre in Sriharikota on November 18 .

This was a technology demonstration flight to showcase the capabilities of the company. The rocket will help validate the technologies that will be used in the subsequent Vikram-1 orbital vehicle of Skyroot that is planned for launch next year, subject to technical clearance by IN-SPACe.

Founded by Pawan Kumar Chandana and Naga Bharath Daka in June 2018 Skyroot Aerospace is a two-time national award-winning space start-up, with 200 employees, and is the largest funded private space start up in India with Rs526 crore raised as capital till date.

“We started four years ago and when we started there was no policy but we took that leap with faith. But now the policy has come up and we got support from ISRO,” Chandana told the media.

“Vikram-S rocket meets all flight parameters – 89.5 km peak altitude achieved and completed required mission,” he added.

Jitendra Singh, Union Minister of State, Science & Technology; Minister of State Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, called this a “New beginning, a new dawn. This is the beginning of building India’s own space ecosystem.”

S. Somnath, Chairman, Indian Space Research Organisation (ISRO) and Secretary Department of Space (DoS) said, “We thought it’s a difficult journey but they (Skyroot team) proved us wrong.”

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Following a lot of dithering and after a court threatened action, Elon Musk, the world’s richest man, finally completed the $ 44billion takeover deal of Twitter, the world’s most powerful messaging app. The company has filed details of this with the US government.

Immediately after takeover, Musk tweeted: “the bird is freed,” adding “let the good times roll”. Then he fired a number of the company’s top executives, including CEO Parag Agrawal.

While this is one end of a journey for Musk, after he first began flirting with the idea of owning Twitter in early April, when he bought 9.2% of the company for $3 billion. Now, having decided to take the entire company private, he will start his new chapter.

At this point questions remain over the platform’s future direction.

Musk wasted no time clearing house when he got in: He fired CEO Parag Agrawal, CFO Ned Segal, General Counsel Sean Edgett and Head of Legal, Trust and Safety Vijaya Gadde, basically at the same time he was officially handed the keys.

Clearly, there was no love lost between Musk and Agrawal. And he’d previously been criticized for posting criticism of Gadde that essentially got her targeted by his sycophantic troll army. Plus, for the Twitter top legal brass, he probably wasn’t feeling too great about that bit of litigation the deal closing helped him escape.

Now, legal experts are concerned about Musk’s financial liabilities that lay ahead, especially employee compensation and maintaining a thick cash flow for the business. The New York Times stated that Twitter’s approximate 7,500 employees may be due $100 million under the company’s compensation programme.

As per reports, Musk will be required to pay more than $200 million to the aforesaid three fired executives. Agrawal is slated to receive the largest payout. This was finalised when he took over as the CEO of Twitter in November 2021 because he signed the deal with a ‘golden parachute’ clause. In the contract with Twitter, he was guaranteed severance compensation of about $42 million. This could have been realised if Twitter let go of Agrawal within a year of his assuming the office.

Beyond the severance, direct stocks held by Agrawal, Gadde, and other fired leaders will be bought back for $54.20 (roughly Rs 4,500) per share. The SEC filing shows that Agrawal owns 128,753 direct shares worth $6,978,413, and Gadde’s 623,156 direct stocks are worth $ 33,775,055.

Now, there is always a chance that Elon Musk may refuse to pay this money, citing some clause or rule in employment contract. But if that happens, chances are that there will again be a court case, somewhat like what happened in the last few months when Musk went back on his agreement to buy Twitter and the company management then dragged him to court.

Just to make it clear: As the trial neared, Musk changed his mind again and told the court that he would buy Twitter.

Elon Musk went from an enthusiastic buyer to one where he got cold feet to the one where he entered the Twitter headquarters in California with a ceramic sink in his hand. The months-long legal battle ended a day before the court-ordered deadline when Musk completed the takeover on October 27.

In July, Musk officially wanted to back out of the deal. After initially agreeing to buy the company in April, Musk spent months attempting to get out of the deal, first citing concerns about the number of bots on the platform and later allegations raised by a company whistleblower.

Musk alleged that the company failed to adequately disclose the number of spam and fake accounts on the service.

On October 3, Musk said he wanted to pursue his acquisition of Twitter at the original price of $ 54.20 a share if the social messaging service dropped its litigation.

On October 27, Elon Musk officially completed the transaction.

On October 27, Musk wrote a message intended to reassure advertisers that social messaging services wouldn’t devolve into “a free-for-all hellscape, where anything can be said with no consequences!”

“The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence,” Musk said in the message. “There is currently great danger that social media will splinter into far-right wing and far left-wing echo chambers that generate more hate and divide our society.”

Musk said in May he would reverse Twitter’s ban on Donald Trump, whose account was removed after the attack on the U.S. Capitol. A representative for Trump did not immediately respond for comment, but the former U.S. president previously said he won’t return to the platform and has instead launched his own social media app, Truth Social.

Musk tried to calm Twitter employee fears that major layoffs are coming and assured advertisers that his past criticism of Twitter’s content moderation rules would not harm its appeal.

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A number of top executives, including the CEO, Parag Agrawal, Vijaya Gadde, the head of legal, policy and trust; Chief Financial Officer Ned Segal, who joined Twitter in 2017; and Sean Edgett, who has been general counsel at Twitter since 2012 have reportedly been fired.

It brings to a close a saga that saw Twitter go to court to hold the billionaire to the terms of a takeover deal that he had tried to escape.

Shareholders will be paid $54.20 per share, and Twitter will now operate as a private company. The completion caps a convoluted saga that began in January with the billionaire’s quiet accumulation of a major stake in the company, his growing exasperation with how it’s run and an eventual merger accord that he later spent months trying to unravel.

On October 4, Musk agreed to proceed on his originally proposed terms, and a Delaware Chancery Court judge gave the two sides until October 28 to wrap up the deal. That deadline was met, and now Musk, who is CEO of both Tesla Inc. and SpaceX, also controls Twitter, a service he uses often but criticizes openly, and that he has promised to change dramatically. The company’s shares are no longer expected to trade on the New York Stock Exchange.

Musk’s ownership will bring immediate disruption to Twitter’s operations, in part because many of his ideas for how to change the company are at odds with how it has been run for years. He has said he wants to ensure “free speech” on the social network, which is likely to mean looser content moderation standards, and plans to restore some high-profile accounts that were kicked off Twitter for breaking rules,such as former U.S. President Donald Trump’s. More broadly, Musk’s initiatives threaten to undo years of Twitter’s efforts to reduce bullying and abuse on the platform.

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Technology drives the world these days. It also drives human passion and the stock market. So when Elon Musk, the richest man on the planet, said he wants to buy Twitter, all for himself, things got a little out of hand. When he said the price was $ 44 billion, things got wild. Then he pressed the pause button on the sale. That’s how things have gone bizarre.

Here is an introduction to what you can expect in this edition, and more.

Watch, before you read on to find more at:

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When Twitter agreed to be bought over by billionaire Elon Musk, its board was not even sure that Musk would be specifically interested in the social media attributes of the platform. Knowing Musk, he always has other ideas up his sleeve. Top US media houses, such as the International New York Times, have already started shouting from rooftops, clamouring that Twitter would become a “scary place” after this, that workplace racial slurs will become commonplace now. It is as if humanity will suffer one last hiccup and die if the basic structure of Twitter is tinkered with.

Quite some time back, one top entrepreneur had told a very interesting story. The businessman had made a ton of money the traditional way, and was not too interested in the EV market, or in Elon Musk’s company Tesla. This was till his son joined Tesla. One day his son comes to him and asks him why he is not investing in Tesla. The businessman was adamant that he was not interested in investing in a car company, especially an EV company. He admitted that he was not aware of the business statistics of the EV market and that he would not want to invest in something he did not understand.

That was till his son explained to him that Tesla was less of a car company and more of a data company. Every time one Tesla is driven out – or drives out, if it is on auto drive mode – the car collects and relays data to the company. It collects data on the route taken, on the choices of the user/owner and on a thousand other parameters. Such data not only goes into Musk’s other products – such as the Gigafactory, or even SpaceX – but also yields other business benefits. The businessman did not have to be convinced further. His initial investment in Tesla has now paid rich dividends.

That is the extent of Musk’s thoughts. Hence when current CEO Parag Agrawal says that he has “no idea which direction Twitter will go in”, he seems to be speaking the truth.

The first time Twitter staff came ‘face to face’ with Musk was in January 2020, when a large number of Twitter employees gathered in Houston for a corporate summit called #OneTeam. That was when Twitter founder Jack Dorsey, who was CEO at the time, told all that he had invited a surprise guest. As a smiling Musk appeared remotely, on giant screens, the crowd cheered, clapped and said: “We love you.”

That love seems to have disappeared. Inside the offices of Twitter now there is massive tension as to what Musk wants to do and why he is taking Twitter private. He may be the richest man on the planet, but even he will not have cash lying around to fund part of the $44 billion buyout. He has already sold Tesla shares to possibly fund this acquisition, but now more stories are tumbling out.

Stock sales begin
That process has already started. Media reports say that just days after agreeing to buy Twitter Musk sold roughly $8.5bn (£6.8bn) worth of shares in the electric car maker. This is to help Musk finance his mega purchase. This sale was expected, and the Tesla stock had fallen sharply amid this speculation. Then, later in the week, Musk tweeted that he had no plans to sell any more of his shares in the electric carmaker.

According to filings with the US Securities and Exchange Commission, Musk sold a total of 9.6 million Tesla shares. That still leaves Musk with more than 15% of the company. This was the first time Musk sold shares in Tesla, since offloading $16.4bn worth of stock in November and December last year.

Musk has said that he would commit $21bn of his assets to help finance the $44bn deal to buy Twitter. Even at this point Musk is the world’s richest person, with an estimated net worth of almost $250bn, mostly due to his Tesla stake.

He also has a more than 40% stake in the rocket company SpaceX, which is estimated to be worth $100bn.

The twist
However, here comes the twist. Recently, Musk has said that he has paused the purchase of the massive social media platform, alleging that Twitter has more than the 5% fake accounts that twitter had earlier said it has. According to Musk, this means there will be less number of accounts onboard to monetise.

The truth in this can only be adjudged through a massive audit and it is not even sure that this can actually be done. Now allegations have surfaced that Musk might be wanting to rig the Twitter share price downwards with this claim – Twitter shares have already fallen and when he does make his move, he will, therefore have to shell out less money than already planned.

This is not impossible, but highly improbable. The Securities and Exchange Commission will not take kindly to such moves in a deal that had gone a long way. It will nw be up to Musk to prove that the number of fake accounts are actually more. How does he do that?

Free speech
Let us return to the original line of thought, though. So Musk wants to change Twitter desperately and wants to change it back to its supposed “free speech” days. To make his point he has even joked that he will buy Coca Cola next and put the cocaine right back into Coke. Coca Cola actually did have a small percentage of cocaine in each bottle during its formative days, stopped when law said so. Surely this is not Musk’s prime intent, but a wild remark to make his point on Twitter.

Remember one thing for sure. Musk has huge business interests in China and Russia. If Twitter can return to China, that would be great. Also, there is a possibility that Twitter could become basically a data company. It still is, but with a large number of roadblocks being set up by the Twitter staff, adhering to several government structures, this possibility has dwindled.

However, how can Musk promote his “free speech” agenda in China? Chinese laws will not allow that. Hence, there is another twist in the tale. Musk will do something that he may not be allowed to do by stakeholders in a public company. But Musk cannot do anything that the law of the land does not allow. Hence he seems to be straitjacketed both ways.

We should wait and watch, but in the meantime, remain wary that Twitter’s composition and flavour might change completely.

Confusion
As of now, there is a lot of confusion over what Musk intends to do with Twitter.

The employees are reportedly frustrated that they had heard little from management about what the sale means for them, so they asked CEO Agrawal, then asked Musk himself in questions sent on Twitter and some even went to Charles Schwab, the financial firm that manages their stock options.

They were none the richer for that, except that Agrawal and Twitter’s chair, Bret Taylor, came back to them and clarified that compensation would remain largely the same under Musk, though there will certainly be changes in Twitter’s policies and culture.

Agarwal’s comment was typical corporatese. Said he: “We constantly evolve our policies. Once the deal closes, we don’t know what direction this company will go in.”

The West is eager to know whether former President Donald Trump would be allowed back into the Twitter fold. Why this is so earthshakingly important is not clear, though.

So the world’s town square, as Twitter is often referred to, will be different. That should not change the town, should not change intelligent minds. That should not mean that Musk will be able to propagate anything he wishes, denying the authority of local laws. He will not be able to do that. Hence the West’s worries are not too well placed at the moment.

Some employees said that they are worried that Musk would “undo the years of work they have put into cleaning up the toxic corners of the platform, upend their stock compensation in the process of taking the company private, and disrupt Twitter’s culture with his unpredictable management style and abrupt proclamations,” as per a report. But people forget that Twitter is not a country. It is a social media platform within the jurisdictions of many countries. To that extent, Musk may have a plan that could be way different that what is being discussed. He is not paying $54.20 per share, a good premium, for nothing.

The only sticking point is that founder Dorsey will have to part with only $ 1billion. That is the value of the limited number of stocks her owns. Agarwal gets $ 40 million, but he sticks around too.

Watch the tweets from now.

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The deal, which will take the company private, caps off a whirlwind period in which the Tesla and SpaceX CEO became one of Twitter’s largest shareholders, was offered and turned down a seat on its board and bid to buy the company all in less than a month.

Under the terms of the deal, shareholders will receive $54.20 in cash for each share of Twitter stock they own, matching Musk’s original offer and marking a 38% premium over the stock price the day before Musk revealed his stake in the company.

Twitter said Musk secured $25.5 billion of debt and margin loan financing and is providing a $21 billion equity commitment.

“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,” Twitter independent board chair Bret Taylor said in a statement, calling the deal” the best path forward for Twitter’s stockholders.”

In an internal message to employees obtained by CNN, Twitter CEO Parag Agrawal said he would hold an all-hands meeting with Taylor on Monday afternoon to answer questions about the deal. “I know this is a significant change and you’re likely processing what this means for you and Twitter’s future,” he said.

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By the end of t he 40th day she had travelled 700 miles (1,127 kilometers), while pulling behind her a pulk, or sledge with all of her kit. She did this while she trudged through temperatures of minus 50 degrees Celsius and wind speeds of around 60mph.

she said in her blog: “This expedition was always about so much more than me. I want to encourage people to push their boundaries and to believe in themselves, and I want you to be able to do it without being labeled a rebel. I have been told no on many occasions and told to ‘just do the normal thing’, but we create our own normal.”

Alka Mittal is the first woman CMD of ONGC
Oil  and Natural Gas Corporation’s (ONGC) Director of Human Resources Alka Mittal has taken over the additional charge of Chairman and Managing Director (CMD) of the company, becoming the first woman to hold the post. Mittal replaced Subhash Kumar who superannuated on December 31. In 2018 Mittal had taken over as Director, HR of the giant Maharatna company, becoming the first woman to hold the post of a full-time director on the board.

Alka Mittal is a post-graduate and a doctorate in commerce. She became the first woman to join ONGC’s board on November 27, 2018.

ISRO has a new chairman
Senior rocket scientist S Somanath has become the new Chairman of the Indian Space Research Organization (ISRO), succeeding K. Sivan. Somanath was Director of the Vikram Sarabhai Space Center (VSSC) in Thiruvananthapuram. He becomes the fourth Keralite to occupy the topmost post in ISRO.

At the ISRO, was associated with the Polar Satellite Launch Vehicle (PSLV) Project during its initial phase. Later he became the Associate Director (Projects) of the VSSC and also the Project Director of the GSLV Mk-III launch vehicle in 2010. He was also the Deputy Director of Propulsion and Space Ordinance Entity till November 2014.

In June 2015, he took over as Director of the Liquid Propulsion Systems Center (LPSC) at Valiamala, Thiruvananthapuram, and served there until January 2018.

First woman captain of US nuclear carrier
Capt  Amy Bauernschmidt became the first woman to lead a nuclear carrier in US Navy history when the USS Abraham Lincoln was deployed this week from San Diego. Bauernschmidt had served as Abraham Lincoln’s executive officer from 2016 to 2019.

She took over command from Capt Walt Slaughter during a ceremony last August. Bauernschmidt said: “There is no more humbling sense of responsibility than to know you are entrusted with the care of the people who have chosen to protect our nation. Thank you, Capt. Slaughter, for turning over the finest ship in the fleet.”

Before this, Bauernschmidt had served as the commanding officer of Helicopter Maritime Strike Squadron 70 and the amphibious transport dock San Diego. She has completed more than 3,000 flight hours during her career.

Elon Musk is Time magazine’s 2021 Person of the Year
Time   magazine has named Elon Musk as its Person of the Year 2021. Musk, the initiator of Tesla Motors, but now better known as the founder and CEO of space exploration company SpaceX, has been at the forefront of innovation as well as American entrepreneurship.

It is also a matter of fact that recently he passed Amazon founder Jeff Bezos as the world’s wealthiest person. Forbes estimates his wealth at $265.4 billion, way ahead of the rest of the super rich pack.

Time has termed Musk in several ways, including “clown, genius, edgelord, visionary, industrialist, showman.”

 Today, Musk is at the forefront of American space exploration’s private arm, his Spacex, having won an exclusive National Aeronautics and Space Administration award in April. Said Time: “Musk’s rise coincides with broader trends of which he and his fellow technology magnates are part cause and part effect.”

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