Can a Crypto Fortune Fund a New Space Station?

Vast Space Station: Summary

Key Concepts:

• Private space stations
• Commercial LEO (Low Earth Orbit) development
• Vertical integration in space industry
• Artificial gravity space station
• Micrometeorite shielding
• NASA Commercial LEO Development Program
• SpaceX Falcon 9 rocket and Crew Dragon capsule

Company Overview and Goals

Vast is a company founded in 2021 by cryptocurrency billionaire Jed McCaleb with the goal of creating the first private space station. Their ambitious timeline aims to launch their first space station, Haven-1, by May 2026, followed by the first module of Haven-2 in 2028, intended as a replacement for the International Space Station (ISS). Vast currently employs 650 people, with a growth rate of 10 people per week, primarily in engineering and manufacturing.

Funding and Motivation

Jed McCaleb is investing $1 billion of his own money into Vast to build Haven-1 and compete for the NASA Commercial LEO Development Program. McCaleb's motivation stems from a desire to "change the trajectory of humanity" and create a frontier for people in space. He views this as a more meaningful use of his wealth than personal luxuries.

Jed McCaleb's Background

McCaleb has a background in programming and cryptocurrency. He founded Mount Gox, one of the first Bitcoin trading platforms, and later co-founded Ripple. He sold a significant amount of Ripple currency, netting at least $2 billion, which is now funding Vast.

Acquisition of Launcher

Vast's initial moves included acquiring Launcher, an aerospace startup founded by Max Haot. Launcher was developing a rocket and engine and had launched test satellites, although these experienced failures in orbit.

Haven-1 Design and Features

Haven-1 is designed with input from Peter Russell-Clarke, a former Apple designer. Key features include:

• A window for observation.
• Micrometeorite shielding to protect the crew. The shielding is designed with multiple layers such that a projectile arriving at 5 km/s would puncture the first layer but not the pressure vessel.
• A comfortable sleeping environment with a system that applies constant pressure to simulate Earth-like sleep.

Vertical Integration and Manufacturing

Vast emphasizes vertical integration, building components in-house rather than sourcing them externally. This approach is exemplified by their machine shop, which sculpts parts from raw materials. Manufacturing a specific flight part for Haven-1 takes approximately three days in-house, compared to a potentially much longer lead time when purchasing externally.

Key Personnel

Drew Feustel, a former NASA astronaut with 23 years of experience, including work on repairing the Hubble Telescope, has joined Vast. His presence lends credibility to the company's efforts.

NASA's Role and the CLD Program

NASA plans to retire the ISS by 2030 and is working with commercial partners through the Commercial LEO Development Program to develop commercial space destinations. NASA aims to become a customer of these commercial space stations. Vast views winning a NASA contract as essential for its long-term survival.

Competition

Vast faces competition from companies like Axiom Space, Blue Origin, and Voyager, many of which have been working on their space stations for a longer period.

Partnership with SpaceX

Vast has multiple contracts with SpaceX, utilizing the Falcon 9 rocket for launching Haven-1 and the Crew Dragon capsule for transporting astronauts. This partnership is seen as strategically important for Vast's long-term goals, including contributing to SpaceX's quest to Mars.

Manufacturing and Testing

Vast is rapidly expanding its facilities and prioritizing speed over cost. They are manufacturing multiple articles to avoid delays in case of problems. The company is actively testing components like windows and hatches for the Haven-1 space station.

Challenges and Risks

Vast faces significant challenges, including:

• The complexity of developing and operating a space station.
• The need to develop vehicles and technologies to keep humans alive in orbit.
• Competition from established players in the space industry.
• The risk of micrometeorite strikes.
• The uncertainty surrounding NASA's future plans and funding.

Notable Quotes

• Jed McCaleb: "Like what's interesting is actually like building things and like, actually changing the trajectory of humanity, which I think we can do here at Vast."
• Drew Feustel: "Having lived in space for six and a half months, I have a good understanding of what works in space and what doesn't."
• Vast Representative: "So, for us, it's a matter of existence to win that competition. We don’t think that, without NASA as an anchor customer right now, the market is there for us to exist after that."

Technical Terms

• LEO (Low Earth Orbit): An orbit around Earth at an altitude of approximately 2,000 km (1,200 mi) or less.
• Vertical Integration: A strategy where a company owns or controls its suppliers, distributors, or retail locations to control its supply chain.
• Micrometeorite: A tiny particle of space dust or rock that orbits the Sun.
• CGI: Computer-Generated Imagery.

Conclusion

Vast is pursuing an ambitious goal of creating a private space station with an aggressive timeline. The company is backed by significant personal investment from Jed McCaleb and is leveraging partnerships with SpaceX and expertise from industry veterans like Drew Feustel. While the project faces considerable challenges and risks, its success could represent a significant step forward for commercial space development. The outcome hinges on securing a NASA contract and successfully executing its technical and operational plans.