LABJ Insider

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LABJ Insider
Los Angeles Business Journal Editor Scott Robson

In a week that saw thousands demonstrate peacefully, hundreds loot violently, an ongoing pandemic reduced to secondary headlines and, just for good measure, a 5.5 magnitude earthquake, it seems like Los Angeles couldn’t really handle any more big developments.

But we got one anyway — and it came in the welcome form of positive news.

Make no mistake, the SpaceX launch on May 30 that carried two American astronauts into orbit from U.S. soil for the first time in nearly a decade was a very big deal.

Especially for the L.A. area, which remains an epicenter of the aerospace industry.

During normal times, of course, the SpaceX achievement — 20 years in the making — would be celebrated for days. But these are not normal times, and the news cycle is set to warp speed.

As hard as it is to believe that Elon Musk can be overshadowed, that’s just what happened last week when the cheers for the SpaceX Crew Dragon capsule launch receded much too quickly.

Regardless of your feelings about Musk, the multibillionaire visionary and his Hawthorne-based team deserve big praise for, with apologies to Neil Armstrong, this giant leap.

With one successful launch, SpaceX gave a jumpstart to a key sector of L.A.’s economy and a fresh spark to one of our most forward-looking industries.

• • •

The Los Angeles Pride Parade will still celebrate its 50th anniversary this month, but not in the way organizers had originally hoped.

With original parade plans scrapped over Covid-19 concerns, Christopher Street West, the event’s nonprofit organizer, made the pivot to a solidarity march on June 14 that aligns the LGBTQ community with the Black Lives Matter movement. There will also be a 90-minute TV special to be broadcast June 27 on KABC and a series of radio segments airing all month on iHeartMedia stations across the L.A. market.

Normally, the parade is big business. Lastyear, according to a study by Beacon Economics, the event generated $42.2 million in spending and supported the equivalent of 830 jobs across L.A. County.

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