International Security & Defense

The U.S. government is currently working on creating a so called Space Force. Legislation to establish the branch is expected to be included in the Pentagon's budget proposal next year, but it would still need approval from Congress.

If the Space Force branch is established, tech companies and defense contractors in Massachusetts stand to make millions — if not billions — in new contracts.

What the Iron Man-like character is claiming for his futuristic automotive company is not unheard of. On a systemic basis, mammoth institutional investment—especially from sovereign wealth funds (SWFs)—is flowing into start-ups and technology-oriented publicly traded companies. In this case, Saudi billions would help Mr Musk escape the pressures of being publicly listed. SWFs have invested large sums into high-growth start-ups promising innovation and financial returns. In fact, just this month, Saudi’s Public Investment Fund (PIF) announced a US$1bn investment in Tesla’s rival, Lucid, and a US$2bn stake in Tesla. The rise in SWF balance sheets and activity is having ramifications on global efforts to be more Silicon Valley-like, and on Silicon Valley itself.

You may not realize it, but you probably interact with some space object every day. Maybe it’s your car, your television or even your internet — each relies on some space-orbiting satellite to function. Satellites are accessed by millions of devices a day and are robust providers of service. But trusting these satellites as much as we do is risky as they are all extremely vulnerable to cyberattacks.

When we think about critical infrastructure, the first assets that come to mind include the electric grid, water networks and transportation systems. Further unpacking the definition of critical infrastructure, we consider industries such as agriculture, defense or the financial sector. However, we rarely think about where the underlying systems that enable technology functionality across these sectors physically reside, who developed the technology, and who can access and manage that technology.

President Trump has hurled so many thunderbolts recently that people may have missed the one that could have the greatest long-term impact on America’s national security — his directive to the Pentagon last week to start creating a new military service that he dubbed the “Space Force.”