The Space Economy Updated

Sinéad O’Sullivan, an entrepreneurship fellow at Harvard Business School. She explains why so much money is flowing into space tech right now, why asteroid mining is overhyped, and why we won’t be colonizing Mars any time soon.

“So, I think the current earth-facing kind of space economy certainly is going through a huge growth and expansion at the minute. “

“I mean let’s look at the primary cause of the explosion in this market. And it has been a reduction in launch costs. So, whereas it now costs $2,000 – roughly looking at SpaceX numbers, $2,500 to launch one kilogram into space. It used to cost upwards of $50,000 with a very, very long lead time. So, with very cheap access to space, people are putting a lot of satellites into space because it’s making it, the availability of data much higher and the price of that data much cheaper.”