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Investors and prizes etc.

Posted by: Ekkehard Augustin - Sat Jun 21, 2008 5:45 pm
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Investors and prizes etc. 
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Post Investors and prizes etc.   Posted on: Sat Jun 21, 2008 5:45 pm
In several threads of several sections it has been said and discussed if the prize moneys set for orbital prizes are sufficient or not - I in particular want to mention Andy Hill here.

Under this aspect I find the article "Challenges Ahead for New Space Investors" ( www.space.com/news/080619-newspace-challenges.html ) very interesting. The article says
Quote:
Gingrich said the risk-adverse focus of NASA and space-oriented government offices has stymied progress in both commercial and government-sponsored exploration efforts.

"We have adopted an insane model of being so risk averse that we spend so much time and money on avoiding error that we avoid achievement," Gingrich said, noting that if the country today tolerated risk as well as it did in the first 25 years of aviation, "we would have a colony on Mars by now."

Gingrich said tax-free cash prizes for major accomplishments, like a $1 billion purse for the ability to repeatedly launch and land a recoverable orbital spacecraft, could do wonders for spurring private innovation. If the prizes are set to be budgeted only in the year they are won, rather than set aside for years until a winner comes forward, then it might be more palatable for lawmakers, he added.

"I am passionately committed to prizes," Gingrich said. "The great power of prizes is simple; they allow anybody anywhere who's competent to try and solve a problem."


Gingrich is chairman of the investment-company Gingrich Gropu according to the article - and thus tells what real investors think.

May be that only prizes awarding very much capital or cash may attrct the investors required.

Richard Speck also is assisted by what Gibgrich is quoted to have said - NASA is too risk-adverse and - my personal and subjective reading - an obstacle to major achievements in space.

What do you think? What are in particular your reactions and thoughts, Andy Hill and Richard Speck?



Dipl.-Volkswirt (bdvb) Augustin (Political Economist)


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