ROOM
79
Astronautics
The best NewSpace companies will mimic old
space companies, in that their business models
will be aligned broadly with industry dynamics
and take their cues from space policy. They
will hire experienced and seasoned talent and,
notwithstanding their star-up ethos, they will still
maintain a ‘measure twice and cut once’ mentality
to insure they are seen as a safe pair of hands.
The best traditional space companies, in turn,
will better mimic a successful NewSpace company.
They will create skunk works or other mechanisms
to insure they are innovating and disrupting their
sectors even if it is to their short term detriment.
They will look to other industries for both business
models and talent, and they will drop any pretence of
superiority for a healthy fear of the status-quo. The
future of the industry is very bright for those entities
self-aware enough to truly know how the industry is
changing and strategic and proactive enough to shape
their particular role in the industry by their actions.
About the author
Dylan Taylor is an investor and thought leader in the space industry. A
founding partner of the Space Angels Network, Dylan speaks regularly
on matters regarding the future of the space industry and the space
economy. He is a Crown Fellow of the Aspen Institute, Delphi Fellow of
Big Think and a Young Global Leader of the World Economic Forum. He
holds an MBA from the University of Chicago.
I predict that in
the future the
commercial
sectorwill
take an even
larger role in
shaping both
the priorities
and the laws
and policies
governing space
space becoming less influential in that process
and some of the protectionism surrounding jobs
being lessened, but also because ultimately the
commercial space sector will become an even
more mainstream topic for citizens.
Increasingly the constituencies in countries
around the world will expect more from their
space programmes and become more involved
with how they see human’s future in space. Adroit
politicians will tap into the interest and leverage it
for maximum effect.
Looking forward
The economics of the space industry is evolving
rapidly. New sources of capital continue to
be attracted to the industry, unlocking more
innovation which should ultimately lead to
a handful of winners that will in turn attract
new capital. This flywheel effect is just getting
started in the space sector and should have a
dramatic impact in reshaping the industry.
Traditional space companies must be aware
of historical analogues to what is happening in
space and be very careful to not fall prey to the
pitfalls inherent with the innovator’s dilemma
and competing with companies driven by
innovation and ‘fail fast’ business models.
Changing times -
SpaceX’s Falcon 9 and
Dragon lift off from Launch
Pad 39A on 19 February
2017, the first launch from
this pad since the final
flight of the Space Shuttle
in July 2011. The pad has
since been reconfigured
for use by the commercial
space company.
SpaceX
