40 REAL-LEADERS.COM / SUMMER 2022 COVER STORY “WHAT MADE ELON MUSK, JEFF BEZOS, STEVE JOBS, OR EVEN MAHATMA GANDHI SUCCESSFUL? IT WASN’T MONEY OR PERSONALITY THAT MADE THEM SUCCESSFUL, BUT RATHER, THEIR MINDSET.” companies and household names such as Virgin Galactic, Blue Origin, and SpaceX. In addition, the organization has launchedmore than $140 million in prize purses, including the $15 million Global Learning XPRIZE, the $10million QualcommTricorder XPRIZE, and the $1.4 millionWendy Schmidt Oil Cleanup XPRIZE. Born in the 1960s, Diamandis was inspired by sci-fi TV programs like Star Trek and the Apollo moon landing, whichmade him passionate about opening the frontiers of space. The Apollo program showed what was possible by landing a man on the moon. Still, it was evident to Diamandis over the subsequent 20 years that governments were not going to deliver solutions to commercial space travel. “They were slow and risk-averse,” he recalls. “I’ve always been an entrepreneur and a firm believer that capitalism is an engine that makes things cheaper, faster, and better. I became obsessed with the challenge of engaging this engine of capitalism in space.” Incentivize Innovation Incentivizing innovation with prize money became the answer for Diamandis. Twenty-six teams from seven countries competed for the first XPRIZE and collectively spent $100million pursuing the $10million prize. Beyond the goal of launching the first private spaceflight, the investment in R&D by participants stimulated entire new sectors and created an economic ripple effect. The success of this approach attracted the interest of Google cofounder Larry Page, Tesla founder ElonMusk, andmovie director James Cameron, who joined the board of XPRIZE. In 2005, after the first prize was won, Diamandis faced a dilemma: “Did we shut down the venture and call it a success, or should we turn this idea into a platform for focusing entrepreneurs on other big, global challenges?” Naturally, Diamandis’ entrepreneurial spirit made him follow the latter. Now, 27 years later, the foundation offers prizes for solving big problems around water, education, health, transportation, the environment, food, and energy. “We started with the space challenge, turned to prevalent world problems, and are now looking at how millions of people around the world can become passionate about making a positive change in the world,” hints Diamandis on the next phase of the XPRIZE. Early Innovations Needs Time to Catch On Like most pioneers, Diamandis has faced doubt and skepticism from the outset. Public opinion can also skew the historical importance of a new idea. Take the example of Jeff Bezos and William Shatner, who were scorned online for going into space — seen as wealthy individuals going on a joy ride. So, when does space travel stop being a joyride and become an industry? Diamandis puts this into historical perspective. “When flight was first invented, it wasn’t with the view to move people from point A to B,” he explains. “The first pilots would fly over towns to attract crowds and offer individuals sightseeing tours of the countryside for $5. These early joyrides were the first interactions the public had with flight, and it was only in the 1930s, decades later, that we saw flight being used for point-to-point travel. We’re still in that early ‘joyride’ stage of space travel today, where people with the means are paying for an experience. The next stage is to explore how space becomes a viable industry that can benefit humanity.” The benefits, according to Diamandis, are enormous. The things we place value on here on Earth, such as metals, minerals, energy, and
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