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Virgin Galactic: Promoters and Prizes

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Financing the New Space Industry
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Abstract

McCurdy describes the events that led to the creation of Virgin Galactic, notably the evolution of the Ansari X Prize and the investments it attracted. Upon completing the first task necessary to receive the $10 million award, the pilot of the winning entry hoisted a sign with the name of his spacecraft SpaceShipOne followed by the words “Government Zero.” Competitors could not seek government help to win the prize.

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Notes

  1. 1.

    Jeff Foust, “SpaceShipOne, government one?” The Space Review (June 21, 2010).

  2. 2.

    Ansari XPRIZE, <ansari.xprize.org> 9 November 2016 (accessed 9 November 2016).

  3. 3.

    Peter Diamandis, “LinkedIn: Experience,” <linkedin.com/in/peterdiamandis> 9 November 2016 (accessed 9 November 2016).

  4. 4.

    Helen O’Neill, “The space visionary behind the X Prize,” Today <today.com> 16 October 2004 (accessed 9 November 2016).

  5. 5.

    Peter Diamandis, “The X PRIZE Competition,” New Space Markets: Symposium proceedings: International symposium, Strassbourg, France. 1 May 1998: 213–22 (accessed 9 November 2016); Instagram photo: Peter Diamandis, @peterhdiamandis <imgrum.net> 18 May 2016 (accessed 9 November 2016).

  6. 6.

    Quoted from Helen O’Neill, “The space visionary behind the X Prize,” www.today.com (October 16, 2004). Accessed November 16, 2016.

  7. 7.

    Eric Dash, “America’s 40 Richest Under 40,” Fortune (September 17, 2001); Anousheh Ansari with Homer Hickam, My Dream of Stars: From Daughter of Iran to Space Pioneer. New York: Palgrave Macmillan, 2010.

  8. 8.

    Ansari, My Dream of Stars, 75; Irene Klotz, “Space Race II Looking for a hole in one,” Space Daily/UPI (August 31, 2004). Accessed November 16, 2016.

  9. 9.

    Ansari, My Dream of Stars, 90; New Mexico Museum of Space History, International Space Hall of Fame, “Anousheh Ansari,” <nmspacemuseum.org> 2016 (accessed November 16, 2016).

  10. 10.

    Quoted from Ian Parker, “The X Prize: Competing in the entrepreneurial space race,” New Yorker (October 4, 2004). The article should be required reading for anyone interested in the new space movement.

  11. 11.

    Forbes, “Forbes Four Hundred Richest People in America,” Forbes.com, 1996. Accessed November 17, 2016.

  12. 12.

    Ansari, My Dream of Stars, 78.

  13. 13.

    Parker, “The X Prize;” Alan Boyle, “Engine flaw causes Space Transport’s Rubicon to explode after launch, no one hurt.” msnbc.com (August 9, 2004). See also Cathleen Manville, “Rocket engine fails; Rubicon destroyed in test flight off Queets.” spacefellowship.com (August 9, 2004). Both accessed November 17, 2016.

  14. 14.

    They are the da Vinci project with its balloon-lofted Wild Fire rocket (ready to launch but never flown); Armadillo Aerospace, whose cone-shaped Armadillo crashed in early August 2004; the V-2-shaped Canadian Arrow subjected to two drop tests in mid-2004; and the ill-fated Rubicon 1 flown by the Space Transportation Corporation of Forks, Washington. A Romanian team designed a winged Orizont suborbital vehicle and flew a more conventional Demonstrator 2B in September 2004. See Tariq Malik, “X Prize Contenders Prepare for Drop Test,” Space.com (August 13, 2004).

  15. 15.

    Leonard David, “The Next Great Space Race: SpaceShipOne and Wild Fire to Go for the Gold.” Space.com (July 27, 2004). The contributed worker time estimate is based on a reported volunteer value of $10–15 million.

  16. 16.

    See Patrick L. Thimangu, “They fueled the flight,” St. Louis Business Journal (June 24, 2004) and Chris Dubbs and Emeline Paat-Dahlstrom, Realizing Tomorrow: The Path to Private Spaceflight. Lincoln: University of Nebraska Press, 2011: 176.

  17. 17.

    See Carl Hoffman, “The Right Stuff,” Wired (July 1, 2003). For comments on the trillion-dollar space industry, see Kevin O’Connell, “Remarks on the Trillion Dollar Space Economy,” U.S. Department of Commerce, Office of Space Commerce, November 27, 2018.

  18. 18.

    Paul Allen, <paulallen.com> 2017 (accessed April 28, 2017); David Kushner, Masters of Doom. Random House, 2004.

  19. 19.

    Ansari, My Dream of Stars, 78.

  20. 20.

    U.S. Department of Transportation, Federal Aviation Administration, The U.S. Commercial Suborbital Industry: A Space Renaissance in the Making. Office of Commercial Space Transportation, 2013: 15.

  21. 21.

    Mike Wall, “Ticket Price for Private Spaceflights on Virgin Galactic’s SpaceShipTwo Going Up,” Space.com (April 30, 2013). See also “Now Virgin to offer trips to space,” CNN.com (September 27, 2004) and Sarah Gordon, “Virgin group: Brand it like Branson,” Financial Times (November 5, 2014).

  22. 22.

    Alex Knapp, “Bootstrapping to the Stars,” Forbes (June 18, 2014); Andy Pasztor, “Economy Fare ($100,000) Lifts Space-Tourism Race,” Wall Street Journal (March 26, 2008).

  23. 23.

    U.S. Department of Transportation, The U.S. Commercial Suborbital Industry.

  24. 24.

    Aabar, “Aabar Investments and Virgin Group Agree Equity Investment Partnership in Virgin Galactic,” (28 July 2009).

  25. 25.

    Gordon, “Virgin group: Brand it like Branson.”

  26. 26.

    Gordon, “Virgin group: Brand it like Branson.”

  27. 27.

    Virgin Galactic, “Virgin Galactic Wins NASA Contract to Launch More Than a Dozen Satellites on LauncherOne,” (October 14, 2015).

  28. 28.

    The X Prize Foundation received its tax-exempt status in 1999. Source: X Prize Foundation Inc, GuideStar, <guidestar.org> 2017 (accessed April 28, 2017).

  29. 29.

    Jeff Foust, “Virgin Galactic and the future of commercial spaceflight,” The Space Review (May 23, 2005).

  30. 30.

    G. Daly, C. Knight, K. Mason, “Observations and comments on Cal/OSHA report (Inspection No: 31081103) on fatal accident at Mojave test site of Scaled Composites at the Mojave Air and Space Port, 26th July 2007.”

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McCurdy, H.E. (2019). Virgin Galactic: Promoters and Prizes. In: Financing the New Space Industry. Palgrave Studies in the History of Science and Technology. Palgrave Pivot, Cham. https://doi.org/10.1007/978-3-030-32292-2_9

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