Luna Corp had the wrong goal
Its good to know that David's not involved with Walt. he seemed like a nice guy at the conferences I saw him at, although perhaps a little naive about the business world.
In my opinion his big mistake was focusing on the Moon which is boring, its hard to raise money from angels for boring ventures. I think if he focused on sending a rover to Mars he would had a much easier time raising money while the cost wouldn't have been that much greater.