SpaceX, Elon Musk’s privately funded rocket venture, has reached space! The video above shows the successful launch and orbit of Falcon 1, a launch vehicle developed entirely out of pocket by PayPal founder Elon Musk. This marks the first time a private company has created a vehicle to break out of earth’s atmosphere and achieve orbit. This major feat opens the door for presumably much lower cost satellite launches, and may usher in a new era where corporations and not countries are in a space race. Congratulations to the employees of SpaceX in this magnificent feat of ingenuity.