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Why investors are following Musk, Bezos in betting on the stars

February 1, 2016

 

Last year, when Google and Fidelity invested $1 billion into Elon Musk’s SpaceX, one of the company’s earliest backers also wanted to get in on the latest round of funding.

But SpaceX ever-so politely asked Steve Jurvetson’s Silicon Valley venture capital firm to kindly hold off. SpaceX, one of the hottest enterprises in the rising commercial space industry, suddenly could afford to turn money away.

“There’s so much interest, they can’t take it all,” Jurvetson said. So they decided to “just bring on one new investor to make life simple.”

With some significant breakthroughs, led by high-profile billionaires such as Musk, Amazon.com founder Jeffrey P. Bezos and Virgin Galactic’s Richard Branson, the commercial space sector has started to capture the public imagination and make space travel cool again.

Sourced through Scoop.it from: www.washingtonpost.com

The space industry is starting to attract investors who are more interested in the bottom line than they are in the cool factor.

See on Scoop.itWearable Technology and the Internet of Things

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