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  "documentTitle": "Astra Space, Inc. (ASTR)",
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  "authorName": "Kerrisdale Capital",
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  "presentationDate": "2021-12-01 00:00:00",
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  "notes": "The slide uses a table to contrast Astra's projected costs with SpaceX's current and future costs, arguing that Astra's business model is threatened by the economics of reusability.",
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      "text": "Astra's strategy has locked itself into pursuit of unproven demand for frequent launches of a rocket that is too small and incapable of competing with the improving economics of re-usability.",
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      "text": "$/kg Production Cost: $20",
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      "text": "Astra is hellbent on lowering costs to $1m ($500k each for materials and labor) per rocket by 2025 when it hopes to have 300+ rockets moving through the factory...",
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      "text": "If [Astra] hits its cadence and that's a big if - then they have hit the ceiling, there's nothing else they can do. If anyone else comes in and does something similar and can use a rocket just one time — An engineer at a small launch company.",
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      "text": "Source: Astra investor presentations, public comments from Elon Musk, Kerrisdale Analysis.",
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      "text": "BOM + Labor Cost ($ M) | Payload to LEO (kg) | $/kg Production Cost | Timeframe",
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      "text": "Marginal Cost Benefit of Reusable Rockets",
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