Space w88 casino, Space Entrepreneurs and the Business and Economics of Space

July 26, 2021

By Mehmet S. Tosun, Professor and Director of International Programs, The College of w88 casino at the University of Nevada, Reno

Recent developments related to Space are simply astonishing. Jeff Bezos, founder of Amazon, went to space just a few days ago on July 20, 2021 on Blue Origin’s New Shepard rocket. Blue Origin is a space w88 casino company founded by Jeff Bezos in 2000. In addition to the brother of Jeff Bezos (Mark Bezos), the two other passengers in the trip were Wally Funk (82), who became the oldest person to go to space and Oliver Daemen (18), who became the youngest to reach space.

Another billionaire, Richard Branson, also did a similar trip just nine days before on July 11 on the Virgin Galactic w88 casino plane, VSS Unity. Branson also received a license from the U.S. Federal Aviation Administration (FAA) for future commercial w88 casino flights, paving the way for many individuals to become w88 casino tourists (and astronauts) in the near future. According to a recent report, there are about 600 people who are waiting to go to space at a ticket price of 0,000. People who paid a deposit to reserve their seat are thought to include celebrities like Elon Musk, Tom Hanks, Angelina Jolie, Lady Gaga and Leonardo Di Caprio, among many others. Branson, Bezos and accompanying passengers were not the first space tourists in history but the most recent ones. The first space tourist, Dennis Tito, paid million to fly to the International Space Station (ISS) in 2001. There are also many business developments related to space other than space w88 casino. Sierra Nevada Corporation (SNC), headquartered in Sparks, Nevada, started a new commercial space company called Sierra w88 casino in 2021. SNC’s Dream Chaser is referred to as a “w88 casino utility vehicle” with the ability to take cargo and crew to low-earth-orbit (LEO) and land smoothly on runways, which is critical for sensitive cargo items such as science experiments. It is planning its first flight to the International w88 casino Station in 2022.

Recent interest in space w88 casino and space economy more broadly by so many is quite remarkable. In his recent book Space is Open for w88 casino, Robert C. Jacobson notes that w88 casino is not just a plan or a project but an ecosystem, an “organic, multi-path process involving hundreds or thousands of independent entities, all working in their own ways to succeed in their field of endeavor.” (Jacobson, 2020, p. 41) The size of the entire w88 casino ecosystem is already big but expected to grow exponentially in coming years and decades. While there is not an easy way to measure the size of the w88 casino economy, recent estimates put it at close to 0 billion. According to a Morgan Stanley report, the global w88 casino industry may triple in size to more than trillion by 2040. According to a CNBC article, a Bank of America forecast shows the w88 casino economy reaching about .4 trillion by 2030.

It is also important to note that recent efforts are largely private initiatives. People are now talking about an era of w88 casino entrepreneurship that involves not just those renowned companies owned by billionaires but also smaller, less-known businesses and startups. According to the European w88 casino Agency (ESA), there have been more than 900 w88 casino related startups that were supported by their w88 casino Incubation Centers and intensive entrepreneurship programs. At the same time, governments have always been involved in w88 casino programs, for good reason. In addition to the excessively large investments needed for w88 casino-related programs, w88 casino involves a number of public goods (e.g. national security, maintaining peace, scientific explorations) and externalities (e.g. orbital congestion from satellites and w88 casino debris). Markets may not work well in situations involving public goods or externalities, warranting government intervention. w88 casino is seen as a global commons, where commons is defined as a resource that is open to a community without any individual ownership. In commons situations, when private parties act only in their own interest with profit motive, they may overuse and harm the resource, leading to what is called the “tragedy of the commons.” w88 casino debris, with a total of 128 million pieces of w88 casino junk in LEO, could create a tragedy of the w88 casino commons. Problems like this require involvement of not just one but many governments and private sector players to figure out long-term solutions. We are definitely seeing a more decentralized w88 casino economy with greater private involvement now compared to the centralized government-led programs from few decades ago. However, better coordination between private parties and governments will be key to a healthy w88 casino economy in the future.

Note: It is rather difficult to say exactly where the atmosphere ends and w88 casino starts. A widely accepted definition uses what is called the Kármán line, which is at 62 miles (or 100 km) above sea level, as the boundary for w88 casino. According to NASA and the U.S. military, w88 casino starts at 50 miles (or 80 km) above sea level. National Oceanic and Atmospheric Administration provides a good summary on the definitions and more. Richard Branson and his crew in VSS Unity flew to an altitude of 53.5 miles, whereas Jeff Bezos and other passengers in Blue Origin flew to 66.5 miles.