Abstract

Abstract Innovative ideas have helped bring us some of the most incredible technological advances the world has seen. These ideas have ranged from the practical—“classic” inventions like the telephone—to the out-of-this-world. Who would have believed 15 years ago that today, in 2009, we are literally on the cusp of space tourism. As incredible as the thinking was behind those innovations, there is another element that affects whether or not inventions catch on in a meaningful way. As remarkable as many inventions are, we know that it takes more than innovation to bring big ideas into reality—it takes a deep understanding of what things cost, and of the value that objects or ideas will deliver over time. We all have a telephone, but few of us will ever ride into space. And the reason behind this is simple: cost. Some mobile phone companies will give you a phone for “free” if you purchase an ongoing service plan and, by contrast, a ride on Virgin Galactic is likely to cost more than your home. Big, expensiv...

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