Space commerce & the future economy: Kevin O'Connell on investing, AI, and Mars missions
Six decades after Star Trek's Captain James T. Kirk began his mission to boldly go where no man has gone before, US President Donald Trump has vowed to make the science fiction character's pledge a reality. Critics of such a mission to Mars have called it an expensive vanity project with no return on investment.
But for others the announcement of such astral ambition within an inauguration address has inspired a new era of excitement about space exploration. And it's an exciting time for the global space economy overall as SpaceX and Blue Origins lead a growing private sector pursuit of orbital opportunities.
Up to a hundred countries now have some form of space program with India and Japan and countries in Africa and the Middle East joining the established space nations in Western Europe, Russia, China and the US. The upside is unlimited.
Beyond space tourism and the mining of asteroids of valuable minerals, there's the prospect of new jobs, new skills and entirely new industries developing. But there are challenges too.
What will be the impact of AI? How should we regulate space so it doesn't become a wild west of competing companies and countries? And how can we ensure the space race doesn't develop into Star Wars?
Riz Khan's guest on this episode is Kevin O 'Connell, Donald Trump's Director of Space Commerce during his first presidency. He was awarded the Vice President's Dedicated Service Award for his support to the National Space Council and has been given a lifetime achievement award for his work in space commerce.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab News
29 minutes ago
- Arab News
Pakistan calls for Israel's accountability for Iran war after army chief's meeting with US president
ISLAMABAD: Pakistan's foreign office on Thursday called on the international community to end Israel's ongoing war against Iran, condemning Tel Aviv for launching an 'unjustified and illegitimate' attack and demanding its accountability. The statement came hours after Pakistan's army chief, Field Marshal Syed Asim Munir, attended a luncheon at the White House hosted by US President Donald Trump, a rare engagement that lasted longer than scheduled. Trump, who has publicly backed Israeli Prime Minister Benjamin Netanyahu and stated Iran will not be allowed to acquire nuclear weapons, confirmed that the Israel-Iran conflict was discussed during his meeting with Munir. While he did not share further details, Pakistan has maintained its longstanding position that Israel's war with Iran threatens to destabilize the region. 'Pakistan strongly condemns unjustified and illegitimate aggression by Israel against the Islamic Republic of Iran,' foreign office spokesperson Ambassador Shafqat Ali Khan said at the outset of his weekly press briefing. 'Pakistan stands in resolute solidarity with the people of Iran and unequivocally denounces these blatant provocations, which constitute a grave danger and a serious threat to the peace, security, and stability of the entire region and beyond, with serious implications,' he added. 'The international community and the United Nations bear the responsibility to uphold international law, stop this aggression immediately and hold the aggressor accountable for its actions.' Khan pointed to a joint statement released earlier this week by 20 countries, including Pakistan, calling for an immediate halt to hostilities in the Middle East and urging de-escalation. The statement underscored the urgent need to establish 'a Middle East Zone Free of Nuclear Weapons and Other Weapons of Mass Destruction,' applying to all states in the region without exception. It further called on all Middle Eastern countries to join the Nuclear Non-Proliferation Treaty (NPT). Asked whether the United States sought any 'special favor' from Pakistan during the army chief's meeting with Trump, Khan said both nations share 'strong and multifaceted relations' with 'a full agenda of interaction and cooperation.' 'So, I don't know how to characterize or define a special favor,' he remarked. The spokesperson reiterated that Pakistan has consistently advocated for diplomatic solutions to international conflicts and would support any meaningful initiative in that direction.
Arab News
an hour ago
- Arab News
SpaceX Starship explodes during routine test
HOUSTON: One of Elon Musk's SpaceX Starships exploded during a routine test in Texas late Wednesday, law enforcement officials said, in the latest setback to the billionaire's dream of turning humanity into an interplanetary species. The Starship 36 suffered 'catastrophic failure and exploded' at the Starbase launch facility shortly after 11:00 p.m. (0400 GMT Thursday), a Facebook post by Cameron County authorities said. A video shared with the post showed the megarocket attached to the launch arm and then a flash and a towering, fiery explosion. Musk's Space X said the rocket was preparing for the tenth flight test when it 'experienced a major anomaly while on a test stand at Starbase,' without elaborating on the nature of the complication. 'A safety clear area around the site was maintained throughout the operation and all personnel are safe and accounted for,' Space X said on social media. 'There are no hazards to residents in surrounding communities, and we ask that individuals do not attempt to approach the area while safing operations continue.' The Starship was not scheduled for launch on Wednesday evening when the explosion occurred during a 'routine static fire test,' according to the Cameron County authorities. During a static fire, part of the procedures preceding a launch, the Starship's Super Heavy booster would be anchored to the ground to prevent it from lifting off during the test-firing. Starbase, on the south Texas coast near the border with Mexico, is the headquarters for Musk's space project. Musk appeared to downplay the incident early on Thursday. 'Just a scratch,' he posted on his social media platform X, although without context it was unclear if he was referring to the fiery explosion of the rocket. Standing 123 meters tall, Starship is the world's largest and most powerful rocket and is central to Musk's long-term vision of colonizing Mars. The Starship is billed as a fully reusable rocket with a payload capacity of up to 150 metric tonnes. The latest setback follows the explosion of a prototype Starship over the Indian Ocean in late May. The biggest and most powerful launch vehicle ever built had lifted off from the Starbase facility on May 27, but the first-stage Super Heavy booster blew up instead of executing its planned splashdown in the Gulf of Mexico. The previous two outings also ended poorly, with the upper stage disintegrating over the Caribbean. However, the failures will likely do little to dent Musk's spacefaring ambitions. SpaceX has been betting that its 'fail fast, learn fast' ethos, which has helped it dominate commercial spaceflight, will eventually pay off. The company has caught the Super Heavy booster in the launch tower's giant robotic arms three times – a daring engineering feat it sees as key to rapid reusability and slashing costs. NASA is also increasingly reliant on SpaceX, whose Dragon spacecraft is vital for ferrying astronauts to and from the International Space Station. The Federal Aviation Administration approved an increase in annual Starship rocket launches from five to 25 in early May, stating that the increased frequency would not adversely affect the environment. The decision overruled objections from conservation groups that had warned the expansion could endanger sea turtles and shorebirds.
Arab News
2 hours ago
- Arab News
Syria completes first global SWIFT transfer since war
DAMASCUS: Syrian Arab Republic has carried out its first international bank transaction via the SWIFT system since the outbreak of its 14-year civil war, its central bank governor said on Thursday, a milestone in the country's push to reintegrate into the global financial system. Abdelkader Husriyeh told Reuters in Damascus that a direct commercial transaction had been carried out from a Syrian to an Italian bank on Sunday, and that transactions with US banks could begin within weeks. 'The door is now open to more such transactions,' he said. Syrian banks were largely cut off from the world during the civil war after a crackdown by Bashar Assad on anti-government protests in 2011 led Western states to impose sanctions, including on Syria's central bank. Assad was ousted as president in a lightning offensive by rebels last year and Syria has since taken steps to re-establish international ties, culminating in a May meeting between interim President Ahmed Al-Sharaa and US President Donald Trump in Riyadh. The US then significantly eased its sanctions and some in Congress are pushing for them to be totally repealed. Europe has announced the end of its economic sanctions regime. Syria needs to make transfers with Western financial institutions in order to bring in huge sums for reconstruction and to kickstart a war-ravaged economy that has left nine out of 10 people poor, according to the UN. Husriyeh chaired a high-level virtual meeting on Wednesday bringing together Syrian banks, several US banks and US officials, including Washington's Syria envoy Thomas Barrack. The aim of the meeting was to accelerate the reconnection of Syria's banking system to the global financial system and Husriyeh extended a formal invitation to US banks to re-establish correspondent banking ties. 'We have two clear targets: have US banks set up representative offices in Syria and have transactions resume between Syrian and American banks. I think the latter can happen in a matter of weeks,' Husriyeh told Reuters. Among the banks invited to Wednesday's conference were JP Morgan, Morgan Stanley and Citibank, though it was not immediately clear who attended.
