The world of space exploration is undergoing a seismic shift. For decades, the final frontier was the exclusive playground of superpowers, government agencies like NASA and the ESA were the only entities with the pockets deep enough to build rockets, launch satellites, and peer into the deep cosmos. But today, the script is flipping. We are witnessing the dawn of the "New Space" economy, where private capital isn't just supporting government missions; it’s leading them.
At SkyMapper, we are fascinated by how this influx of private investment is reshaping our access to the stars. The value of investing in space is no longer just about national prestige; it is about economic growth, technological acceleration, and now, the democratization of scientific discovery.
The ROI of the Cosmos
Why invest in space? The question is often asked by those who see plenty of problems right here on Earth. But the history of space exploration shows that money spent "up there" pays dividends down here.
Investments in space infrastructure have birthed entirely new industries. From the satellite networks that power our GPS and global communications to the Earth-observation data that helps farmers maximize crop yields and climate scientists track global warming, the "space-for-Earth" economy is already massive. Analysts project the global space economy could reach $1.8 trillion by 2035.
But beyond the immediate economic returns, private investment is driving efficiency. The "commercial" mindset has slashed launch costs by over 90% in the last two decades, thanks to reusable rockets and competitive innovation. Now, that same private-sector disruption is coming for pure science.
From Public Funding to Private Science
Historically, while private companies built the hardware, the funding for science, telescopes, probes, and rovers, came from the taxpayer. This made sense: fundamental science is high-risk and doesn't always have an immediate profit margin.
However, a new wave of "philanthropic science" and private ventures is emerging. Billionaires and private consortiums are realizing that they can fund scientific instruments faster and often cheaper than government bureaucracies. This transition suggests a future where our understanding of the universe is fueled not just by congressional budgets, but by private visionaries.
The Lazuli Example: A Private Eye on the Sky
The most striking example of this trend is the recently announced Lazuli Space Telescope. Funded by Schmidt Sciences (the philanthropic organization of Eric and Wendy Schmidt), Lazuli is set to be a game-changer. It is a 3-meter space telescope, significantly larger than the Hubble Space Telescope’s 2.4-meter mirror, designed to hunt for exoplanets and capture cosmic transients like supernovae.
This isn't a government project. It’s a privately funded mission costing hundreds of millions of dollars, with a planned launch around 2028. It represents a massive leap in what private money can achieve: a "Great Observatory" class instrument that rivals NASA's best, built on a timeline that would be impossible for a federal agency.
Public Questions for a Private Telescope
While the technological ambition of Lazuli is exciting, it raises profound questions about the relationship between private ownership and public science. A recent article in Scientific American highlights the unique position Lazuli occupies and the questions it forces us to ask:
- Who decides what we see? Typically, time on major space telescopes like Hubble or JWST is allocated by committees of scientists who review proposals from the global community. Schmidt Sciences has promised an "open data model" with merit-based access for astronomers worldwide. But the question remains: does the owner retain the ultimate veto power? In a future dominated by private instruments, could scientific priorities be skewed toward the interests of the funders rather than the consensus of the scientific community?
- Is data truly for everyone? Publicly funded science implies public ownership of the data. Lazuli promises open access, but as more private telescopes launch, will that standard hold? Could we see a future where high-value astronomical data becomes a proprietary asset, sold to the highest bidder or locked behind paywalls?
- Can philanthropy replace policy? Projects like Lazuli are fantastic supplements to NASA, but they rely on the whims of wealthy individuals. Can we build a sustainable long-term science strategy on private generosity, or does this risk letting public funding atrophy?
The Future is Hybrid
The value of investment into space exploration is undeniable. It drives our technology forward and expands our horizons. The Lazuli project proves that the private sector is ready to take on the mantle of heavy-lifting in space science.
For the public and the scientific community, the challenge will be to ensure that as funding goes private, the spirit of discovery remains public. If Lazuli succeeds, it may well prove that the best way to map the sky is with a partnership that combines the speed of private capital with the rigorous openness of public science.
At SkyMapper, we’ll be watching closely, and we can’t wait to see the images Lazuli sends home.
