Liftoff
Getting to space is something billions of people all over the world have dreamed of since they were a kid, however, since humans first got to space in the 20th century the only people to turn this into reality were employees of the government – extensively trained astronauts of each governments space programs. Along the way, capitalism stepped into the picture, as it does in most industries today. Billionaires have joined that elite group of people making it into space. You may think… why should I care? I mean you can do anything with enough money, right? Well although that is true, billionaires setting a precedent of making it to space is an important benchmark in progress for the average person because it is a step in having non-professionals making it into space. In other words, it is a steppingstone for commercial spaceflight becoming a thing.
The latest billionaire to turn this dream into reality is Richard Branson. Just yesterday, Branson was able to make it into space using his company (Virgin Galactic’s) aircraft. According to CNBC, the flight occurred at Spaceport America, along a desolate stretch of New Mexican desert using Virgin’s SpaceShipTwo Unity craft. The craft is designed to take off on a conventional runway while attached to the underbelly of a carrier ship known as WhiteKnightTwo. The vehicles fly to an altitude of 50,000 feet, where Unity is subsequently released, and its engine ignites to rocket all the way to the edge of space. The mission is something Branson has been working towards for 17 years, since 2004 when he founded the company.
Virgin Galactic plans to conduct many more flight tests and hopefully start commercial flights next year for private customers, with each ride costing upwards of $250,000. What do you think about commercial spaceflight? And do you think it is a good long-term investment?
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.
