The Space Economy

CHAPTER 1Space Is the Next Big Thing: To See the Future of Your Job, Your Investments, and the Economy, Look Up

If you've ever wished that someone from the future had tapped you on the shoulder and told you to invest in Apple Computer in 1983, found an e‐commerce company in 1996, or take a risk on that Google gig in 2002 instead of playing it safe at Bear Stearns, you understand the importance of distinguishing signal from noise. It's as crucial for personal success as it is for commercial satellites.

The pattern repeats throughout history: As a new wave of opportunity builds, a handful of people position themselves to ride that wave to its crest and prosper. The rest of us watch them rise and wish for time machines.

No one is born with the ability to see through the hype and zero in on what's really next. The winners earn their edge through the accumulation of knowledge and insight. Read on to join their ranks.

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To understand the scope and potential of the Space Economy, look at the rise of a now‐ubiquitous space‐based technology: the Global Positioning System (GPS). The story of GPS and how it has fundamentally changed the world will help you grasp the far greater potential of the Space Economy as a whole.

On September 1, 1983, a Soviet fighter plane shot down Korean Airlines Flight 007 en route from New York City to Seoul, South Korea. A navigational error had sent the Boeing 747 passenger plane into Soviet airspace at a moment of peak Cold War paranoia. Within minutes, ...