Big Risk, Big Payback
I remember one time when Warren Buffett mentioned that he and the insurance companies under his fold would be willing to insure anybody if they're willing to pay the premium. In other words, he's willing to take on any risk at the right price.
Richard Branson of course has that same attitude when it comes to Virgin. Look at the difference in a couple of ventures to see the difference. Like I talked about here today, Virgin Comics (did you know they even existed?) has went into a deal with the Sci Fi network to produce comic books with original characters for the purpose of eventually bringing those characters into various roles across numerous platforms.
For some people this is pretty neat and cool stuff.
Ok. Now let's look at Virgin Galactic. It will be the first passenger-carrying flight into outer space on what has already been named the VSS Enterprise.
There is buzz about it everywhere with people speculating on what will happen when the first load of amateur astronauts don't return to the desert runway. In other words it has a lot of risk but the marketing value in literally out of this world, just like the perceived flight will be.
The point is that the announcement itself, along with the ensuing buildup, is already worth millions of dollars in free marketing for the Virgin brand.
The risk is huge, but the payback is already bringing returns with flights being booked for the not too distant future.
What I'm getting at here is that the risk associated with amateur space travel and the excitement it brings, makes the other announcement about Virgin Comic books and partnering with the Sci Fi channel somewhat pale in comparison. Payback for huge visions can be outrageously fantatastic. That's what's happening with Virgin Galactic as they take off into a venture that brings out the explorer in all of us.
Richard Branson conquered the world. Now he wants to fly you to space.
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