Elon Musk, Jeff Bezos, Yuri Milner – are they extremely wealthy? Yes, but space is not a hobby for these billionaires. Using lessons they learned from e-commerce, technology and aerospace, they are driving extreme growth in the space industry. These individuals can clearly see the enormous potential space offers – just as they saw the potential of online payment systems and the ability to buy anything you could think of from your computer on one single website.
Unlike the early days of the tech industry, you cannot build your first rocket in your garage for a few hundred dollars. It’s a non-starter. However, the previously unimaginable success of the tech industry has allowed some visionary entrepreneurs to amass a large amount of wealth – enough to build a rocket. Rather than retiring to an island in the Caribbean, billionaires like Musk and Bezos are re-investing that money in a new market, one that could potentially be another unimaginably successful industry that leads to many new verticals, a growing economy, more jobs and inspiration for generations.
This high cost of starting a space business is the single greatest barrier to entry for entrepreneurs – these billionaires are slowly lowering this barrier.
The Space Frontier Foundation stands for innovation, collaboration and a better future for generations to come. The recent announcement (Breakthrough Starshot) from Yuri Milner and Stephen Hawking is an excellent example of tech and space collaborating to accelerate progress and discovery. Looking to the past, Rockefeller’s oil fortune was re-invested in science and education, leading to the development of the first vaccine for pneumococcal pneumonia.
Just two days before SpaceX achieved their astounding Falcon-9 landing on April 8, leaders from the space and tech industries gathered together to solve problems “at warp speed” in San Francisco. Watch the video: