Virgin Galactic paved a major milestone in the space industry by taking their aircraft to the edge of space — all without a government agency, a spaceship, and complex space suits. Some have passed this off as some billionaire stunt and nothing of concern to the common man, but it’s not just billionaires that can benefit from this expansion into space — it’s the average person. The Space Race among billionaires is truly heating up too, in fact, Amazon founder Jeff Bezos will be taking off on Tuesday from a remote area of west Texas on his Blue Origin rocket. That means just in July of 2021 two non-astronauts or simply normal people (outside of their immense wealth of course) have made it into space.
This milestone, albeit, not obvious at first glance is a major step forward in the progress of mankind as a civilization and in the economy. By taking steps to commercialize space it not only brings everyone one step closer to visiting space but shows that progress is possible, while creating a whole new potential industry that could branch off or inspire even more ventures.
In space, there truly is not limit. But it’s not just far off tech and dreams that should excite you, but rather, real contributions made by space technology in realistic timeframes. After all, investments in space have already led to innovations such as high-efficiency solar panels, ear thermometers, and scratch-resistant eyeglasses. Infect, space tech has directly helped generate cutting edge medical technologies, from artificial limbs to artificial hearts to insulin pumps – this step forward could be helping lives back down on earth much sooner than we thought.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.