Doug Casey on the Modern Space Race
Doug Casey on the Modern Space Race by Justin Spittler – Casey Research
Justin’s note: Jeff Bezos is selling nearly $1 billion worth of Amazon stock.
Bezos, who founded Amazon, isn’t doing this because he’s short on cash (he’s worth more than $80 billion)…or bearish on Amazon’s share price.
He’s doing this to fund his aerospace company, Blue Origin. As if that weren’t crazy enough, Bezos plans to put about $1 billion of his money into Blue Origin every year until the company can sustain itself.
Bezos isn’t the only billionaire who’s set their sights on space, either. Tesla founder Elon Musk has his own aerospace company called SpaceX.
In short, a modern space race has broken out between two of the world’s richest men.
It’s an exciting trend to say the least. So, a few days ago, I called up Doug Casey to get his take. Below is a transcript of our conversation…
Justin Spittler: Doug, what do you think of this modern-day space race? Are you happy to see billionaires spearheading it instead of governments?
Doug Casey: Absolutely. I don’t know if I’d support Bezos’ political views—he appears to be more or less in the Soros camp—but the guy’s obviously a business genius. He and Musk and others that are getting into the space race are absolutely doing the right thing. Certainly from an intellectual and psychological standpoint. But also from a purely economic one. It’s true that pioneers are the ones who might get arrows in their backs. But the risk/reward ratio here is at least as good as it was when Europeans struck out for the New World 500 years ago.
Space is where the future lies from just about every point of view. And I’d much, much rather have private entrepreneurs like them doing this than having NASA do it. Why? Because NASA is a bureaucracy. It doesn’t react to profit and loss. They don’t either know or care whether they’re creating capital or destroying capital.