What should be the priority topic for the space finance working group in 2023

Typically these presentations are to people outside the space industry (by design).

But now I will be presenting to ‘insiders’. And so it is time for an adaptation of the message to better meet this new audience where they are.

And that is why I have been thinking about the future.

The future is what unites the space industry together. Scientists, engineers, artists and enthusiasts alike all look to an ideal future with hope. Dreaming of a semi-utopian future that many can see in their mind’s eye. For 70 years this tribe has grown, and languished, but always kept their eye on this future. Hope fueling their drive to make that future real.

Or did it?

What if I told you those dreams are what hold the space industry back?

And that it is time to accept that the future will look a lot like the past.

Would you believe me?

Well let me take you back to Robert Goddard so I can show you that from the beginning it was the dreamers who languished, while the ruthless pragmatists advanced in leaps and bounds.

In 1919 Goddard published concept for a rocket, that among other things could go to the moon (and detonate a giant pile of ‘flash powder’ to prove it had been there). Up until this point Goddard had been working on near-term, practical applications for the small rocket motors he had designed and built. But after the publication of the article he was seen as someone out of touch with reality.

Now is when you jump to Goddard’s defense and say that everything he theorized came to pass.

And that he was visionary. And that without his designs we would never have been to the moon.

That is all true.

Without his research there wouldn’t be the space sector we know today. And so he deserves his title as Father of the Space Age

But as a direct result of his statement about the theoretical moon mission the Father of the Space Age gave his child away…to the Nazis. And it was Nazis who built the foundations upon which rests everything we have done in space.

Yes there is more context than just that. Yes I am simplifying things to make a point.

But that point is still valid.

In order to make the future happen you cannot scare the people who will fund said future. The public, and their representatives in government have a very narrow view of reality. Everything they know to be real is what is happening now or what will happen within the next year or two. Go further than that and you are literally out of touch with their reality.

And regardless of whether or not history proves you right - you will be less effective than you otherwise could be.

So - in short - don’t be like Dr Robert Goddard. Have big dreams and ambitions, but build them one step at a time. Otherwise you might give someone with worse intentions a chance to build their future on your work.

And with that cheery note - lets get to the rest of this week’s update.

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Outreach:

One Big Outreach Thing: The Capitol Hill Club’s space series is back - and space finance was the first topic.

• More Details: This week I participated in the opening panel of the Capitol Hill Club’s space event series alongside John Rood, Michael Mealling and Artiom Anisimov where we talked about investing in the space sector. We had a good group of people who attended, ranging from Congressional staffers and former Congresspeople to investors and the government relations teams from space companies. Overall it was a great chance to talk about the need for new types of government support for space investors, and how people outside the space sector can get involved.

Future Outreach: Next week we are working with our members to develop 2023’s policy priorities in advance of the new Congress. If you are interested in providing comments ahead of our policies going final feel free to let me know. We’ll also be at a luncheon with members of the National Space Council (moderated by our friend Meredith Garofalo).

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Operations:

One Big Operations Thing: New Worlds, New Worlds, and more New Worlds

• More Details: This week we doubled down on supporting the planning for New Worlds in Austin at the end of the month. April joined the planning effort, and we are working to help secure a few more speakers and sponsors, all while trying to up attendance. You can find out more about the event here - but I don’t know what more you need to know other than it is going to be in Austin at the perfect time of year.

Future Operations: Next week we will be more of the same with New Worlds, and we will also add in some work on next year’s Defense and Space VIP reception on the sidelines of SXSW. We have a handful of early sponsors - and after last year saw ~300 people attend (when we could only accommodate 150) - we are likely to be expanding to a bigger venue. Let me know if you are interested in hearing more about partnering with us.

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Other Stuff:

One Big Other Thing: Our circle of partners is expanding again.

• More Details: We are exploring a partnership with The Alternative Investment Management Association to help educate their members on the potential of investing in the space sector. With their 2,100 members (who have ~$3T of assets under management) they represent a significant pool of potential new entrants to the space investing world.

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Well then - I started things off a little heavy - but I think we ended things a little lighter.

So - I’ll see you back here next week - unless I see you out there sooner (or you unsubscribe).

-T

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