Branson's 'space' flight cracked open a market

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Branson's 'space' flight cracked open a market

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• Into space, or not: There was debate about whether the billionaire owner of Virgin Galactic - Richard Branson - went into space or not, but what he did achieve was a massive spectacle, and the opening up of a whole new market.
• Business model: Branson's business model has been "no core competence" but building on brand promise by finding unique niches across diverse markets. 

1. The 4 minutes of weightless existence he had aboard VSS Unity (@ $2,50,000 per seat) has created demand for more such experiences
2. Experts later claimed it wasn't space flight at all as Branson reached just 85 km high (so not space, but high-altitude flight)
3. Jeff Bezos' Blue Origin is claiming to now prepare to cross the Karman Line, beyond which it is airless
4. Science thinks space is 15 km beyond that

• Suborbital flights: Virgin's suborbital flight has given the much-desired push to space tourism from rich would-be space-farers. Other billionaires are jumping on the bandwagon before it picks speed - Bezos would reach space by 20th July, and then his firm Blue Origin will launch similar tour service.
• X Prize 1996: This race commenced way back when a $10 million prize was set up name X price - later "Ansari X Prize in 2004". It was for the first non-govt firm to send humans into space using a reusable craft, twice, in 14 days. 

1. The goal was to push the spirit of exploration and getting investments in a challenging field
2. Potential spin-offs would give other humans tremendous benefits

• Daily lives of modern humans: Many technologies used today have come from grand new projects launched earlier. Now huge private companies are entering what was a state-dominated sector so far. Perhaps such advances lie in store that we haven't yet imagined.
• Three way battle: Soon, three space firms are going to compete very hard with each other. The potential benefits for humans will be immense, hopefully.
• Summary: The desire of mankind to explore new vistas, and the potential market size for space tourism, is likely going to be a success story soon.

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