The story of David and Goliath was about a smaller weaker person who used his intelligence and skill to defeat a more powerful adversary. The conquest of space is similar.

Until the middle of the last century, many questioned whether humanity could ever escape the thrall of gravity. Our efforts looked feeble against the “gravity well” more than 100 miles deep that keeps us anchored to this globe. Not only that, but anyone who studies even our solar system — forget the greater regions — is left humbled and awed at how puny all things terrestrial seem by comparison.

Those scientists who deemed space flight possible almost universally agreed that only rocketry offered the necessary ratio of thrust to weight.

Rockets have a big problem. More than 95% of their weight is consumed by the propellant; it’s a very inefficient way to get payloads into space. It’s also costly. Reducing the cost of getting payloads into orbit is the “holy grail” of space development.

In recent years, multiple new approaches have looked ever more viable. (I have written previously of the space elevator, which many consider to be the ultimate solution.) Now comes one that brings to mind David’s slingshot.

Specifically, it’s called the “slingatron.” Defensetech.org reports that researchers at the Army Research Lab are studying new ways to use this approach. While it’s long been of theoretical interest, the Slingatron actually may be viable.

How does it work? In the slingatron, the payload would be spun ever faster in a spiral tube. (Imagine an amusement park ride, albeit one unsuited to living organisms.)

It could be used to launch nanosatellites, space station components or even pieces of a space ship to be assembled in orbit like tinkertoys. (It also has military uses, which should help with the funding. For example, it might work better than lasers as a missile defense system, sending a devastating barrage of buckshot at the target.)

Researchers have determined that the slingatron could work fine for launching lunar ores into space; gravity is lower there. For it to work on Earth, certain improvements in its component materials are necessary. However, researchers are hopeful that some of the exotic new materials such as carbon nanotubes now entering volume production may suffice.

Regardless of whether the slingatron or another approach holds the winning ticket as a replacement for rocketry, one thing is certain. This will have greater economic “accelerator effects” than any previous technology excepting perhaps the computer.

Why? Cheap, reliable access to space means an end to the everyday shortages and limitations we take for granted. Within a generation of this technology being commercially deployed, we will permanently cease to have shortages of energy, raw materials of every kind and even land.

The asteroid belt contains all of the same raw materials we mine on Earth, but in astronomically greater availability. We would have to strip mine the whole surface of the earth to a depth of ½ mile — a preposterous notion — to match what’s out there.

The asteroids can be used to build, among other things, solar power satellites and space colonies (AKA O’Neills, in honor of their inventor, Princeton physicist Dr. Gerard O’Neill).

The opportunity to beam unlimited quantities of “clean, green” power wherever it’s needed on the globe will end energy shortages for centuries. This effectively means forever, since further energy breakthroughs will follow.

O’Neills will be hundreds of miles long, rotating around their axis to simulate gravity. They will superficially resemble huge tin cans, but a more apt analogy favored by Dr. O’Neill in his breakthrough work, The High Frontier was “crystal cathedral.”

Each O’Neill will house hundreds of thousands of people. Thanks to self-replicating manufacturing systems, already being pioneered on Earth, they can be constructed over the course of this century in such quantities that we can move everyone who wishes such from living on earth to living in space. There are multiple reasons this will be a compelling “alternative lifestyle”; far more than I can cover here.

Apart from permanent residency, virtually every one of means will choose to vacation in space. Imagine a mile-long, perfect ski slope where the weather is always optimal. Now consider a Hawaiian paradise sans mosquitos.

Getting even more exotic: how would you like to fly like a bird, under your own power, using nothing but plastic strap-on wings? It will be a favorite hobby of O’Neill residents, for whom gravity will be partially optional.

Water sports will take on a whole other dimension when gravity becomes optional. Speaking of dimensions, choreographers will have a field day writing dances to be performed in low gravity. I’ll leave the benefits of zero-gravity sex to your imagination.

You may be thinking I’ve been watching too much science fiction. That’s understandable. But consider this: if someone had told your grandfather in 1950 that his grandkids would live in a world filled with intelligent machines, machines that run most of the repetitive business processes in the world and even make decisions, machines that can actually carry on conversations with people, what would he have thought?

In addition, the progress of technological change is happening faster and faster, as well documented by futurist Ray Kurzweil. It may not be your grandkids, who see all this happen. It could be you.

But, how will you afford all this?

One option is to invest in this revolution while it is still young. (I’ve previously written that the real space age began with the winning of the Ansari X prize a few short years ago. It was proof by private enterprise, not government, that a reusable vehicle could hoist passengers from Earth to outer space, return them safely and then do it again, thereby radically cutting costs and increasing safety.)

Companies such as Transformational Technologies Portfolio holdings SpaceDev (SPDV.OB: OTC BB) and Orbital Sciences (ORB: NYSE) are building substantial businesses by investing in a long-range vision of creating the infrastructure for a space-faring civilization.

Indeed, SpaceDev’s revolutionary “laughing gas and rubber” rocket engine” not only powered the Ansari Ansari X prize winning entry, but looks poised to power Virgin Galactic’s fleet of space tourism craft.

Most investment analysts suffer from market myopia: they can’t see past the next quarter. Our space development companies are looking ahead a decade and more. Assuming they’re right, we’ll look pretty smart ourselves in a few years when the power of this “sky’s the limit” economic multiplier begins to be widely appreciated.

To your profitable future,
Jonathan Kolber
June 20, 2007

Investing in Space Technology was originally featured in the Penny Sleuth.