What were you excited about as a kid?
That’s what you’re passionate about, VCs will fund you, etc. Life’s do short to do something for somebody else

Government can’t take risk for space frontier as there’re too many issues involved that would cause them to lose out politically
Have to go with the private industry

Long Term Mission – Asteroid Miner, lots of $$ in there

How X Prize Foundation is financed

Spirit of St Louis – Flight across the Atlantic for a prize

If he can do it, everyone can do it – the flying fool, Lindberg

Hence X Prize is the prize to simulate the prize for Lindbergh

Line of Super Credibility – Things you do that no matter what you do it will succeed. Line of credibility only brings you to being acknowledged

Insurance Company took the bet with X Prize that for each trench of advancement, the company will pay out

Founded Zero G airplanes to have fun

Space Adventures – Rocket Racing League

True breakthroughs require taking risk. The day before something takes off, it is a crazy idea. Got to be willing to take these risks.

How can we incentivize really crazy stuff? Originally was by government.

Average age of Apollo program engineers was 26 as nobody was there to tell them what they could or could not do. Same as dot com revolution.

Go do the crazy idea. Have to take risk.

X Prize is to change behavior

http://www.xprize.org/, http://www.gozerog.com/, http://www.rocketracingleague.com/

Leverage on people’s capabilities for sponsorship instead of $$ all the time
When you ask for great advice you get great money
It’s a people process, not a $ process

Make other people heroes

peter@xprize.org