Below is an excerpt of MilkyWayEconomy's 2020, best selling space economics book, "Blockchain & The Space Economy". We've decieded to release select chapters of the book as blog post because a) after reading it you'll run out and buy the book ;-) and b) despite being accidental VCs in Space we're really just nerds who want to share cool facts about Space with anyone willing to listen. So, enjoy!
In order to grasp the implications of The Space Economy, we have to look at how the economics of life here on earth work. For instance, you would never say “The internet economy” when discussing Amazon, Apple, Google, or the majority of commerce that takes place on the World Wide Web (WWW). There is no “World Wide Web” economy. There is simply THE ECONOMY. Does the web play a role in THE ECONOMY? Considering that the only trillion-dollar companies are all web-based technology companies (Microsoft, Amazon, Google) we’d have to say yes.The internet economy plays a role in THE ECONOMY, though we would never think to separate the two. It’s just the economy.
Space is strikingly similar to the WWW. Or the world wide web is eerily similar to Space. They both exist. Business, science, politics, gambling, and other strategic and mundane things happen there. And those things that happen in Space (as with the things that happen in cyberspace) impact economies and conditions on the ground. In fact, what happens in Space (like the web) doesn’t just affect what happens on the ground, but often enough determines and directs developments on the ground. What will the impact of the Space Economy be? (Author's update: As of January 2023 The Space Economy is valued at a little over $503B, up from $450B when this book was first published in 2020) From business, education, shipping, logistics, medical research, travel, tourism, health, medicine and politics, the Space Economy is the next frontier of human exploration and growth. Space is this generation's unexplored ocean. Bold explorers will venture into Space and then on into Outer Space. Millions of star bound pioneers and pilgrims will follow.
In many respects, 2020 is like 1492. However, this time, when Columbus sails the ocean blue, she will do it on a BFR rocket. The “New World” she’ll discover won’t be what we now call the Americas but will instead be the space borne child of dreams, imagination, loss, and perseverance that Humanity births amongst the cosmos. Humanity is headed to the stars. Not just because we have an indomitable spirit to go where no woman has gone before; but because we also sorta ruined the planet. And we need a Plan(et) B.
Plan(et) B starts with The Space Economy. After all, Humanity’s greatest feat isn’t going to pay for itself.
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