The transcript states that NASA's shift to the safer, but less ambitious, Space Shuttle program after the Apollo 13 incident "pretty much ended the first space age".
The Ansari XPrize, a ten-million-dollar reward for the first privately funded team to launch a reusable manned spacecraft into space twice within two weeks, is cited as the beginning of the restart of the second space age.
The "picks and shovels" approach in space entrepreneurship refers to focusing on providing essential equipment and services to the space industry rather than directly competing in the high-risk, end-product markets (like space tourism or satellite launches). It's about supplying the tools and infrastructure needed by others in the field.
The correct answer is: The entrepreneur provides equipment to others in the new industry.
I lack the ability to access external websites or specific files online, including the YouTube video link you provided. Therefore, I cannot provide you with a summary, key takeaways, or follow-up questions based on that video. To get the information you need, please provide the video's transcript.
This video lecture discusses the history of space entrepreneurship, highlighting key figures and events that shaped the first and second space ages. It explores the role of entrepreneurs in driving innovation and commercialization within the space industry, focusing on both successes and failures. The lecture also examines funding sources for space ventures and the various emerging space business areas.