Why are telescopes built?

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Technology progresses, and the new telescope will give us much more information than the 3-5 old ones that will be removed. In particular, we should be able to gather more information on exoplanets and their atmospheres, which may help us find life or planets capable of sustaining it. The new telescope is designed like a double-hulled ship, with sensors to alert when there is even potential for a spill. I can't speak to the old telescope leaking, aside from the fact they are going through a lot of technical and legal steps to ensure it is handled appropriately.