It’s long been an aspirational target for entrepreneurs. It literally goes beyond “blue sky,” in terms of location, to a place no business has gone before: Outer Space!
Longtime space enthusiast and entrepreneur Richard Branson became the first person to travel to space using a self-funded vehicle. While the trip was brief, with Branson releasing an aspirational message during the few minutes of weightlessness afforded, it served to allow him brief bragging rights. Jeff Bezos, the recently retired billionaire executive, is about to launch his space effort, scheduled to launch July 20, the fifty-second anniversary of the Apollo 11 moon landing.1, 2
While these flights are full of such symbolism and pomp, they also reflect space entrepreneurship transitioning from pie-in-the-sky to, well, actual people in the sky. Where once the only space corporations were those with government contracts, working with NASA, the field is now open to potential space tourism, and other private-sector pursuits. Branson seems focused on offering wealthy passengers a trip of a lifetime. Bezos is on the cusp of the same but also has other, larger space-bound aspirations, potentially working with civil, commercial, and defense clients.1, 2
This launch into the final frontier is certainly exciting. As for other down-to-earth matters I remain with feet planted firmly on the ground and monitoring your financial matters. Hailing frequencies are always open, if you have any questions.
All 8 also should consider who they should name as their health care decision-maker and financial power of attorney. They also may want to consider estate strategies that involve life insurance. All 8 are relatively young, which may work to their advantage as they consider the role life insurance can play.
- 1. CNN.com, July 12, 2021
- 2. Fox Business, July 12, 2021
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