How To Become A Quadrillionaire | Answers With Joe

[@yogibear6363]

The value of diamonds is inflated by the companies (ie: De Beers) hoarding diamonds to keep the available supply low and thus the price high.

[@dunmermage]

Yup, and we can lab-grow diamonds of top quality from fraction of the price, yet people will say it's "fake", even though it is just pure, crystallized carbon.

[@Scobo03]

If diamonds were really rare, I wouldn't be able to buy diamond tipped drill bits.

[@P0LARice]

@@Scobo03 if diamonds were really rare you would only be able to buy them in drill bits.

[@lostwizard]

Yup. The diamond cartel is the ultimate in racketeering. And definitely should have all legal protections removed.

[@Krmpfpks]

Scobo03 it’s the large ones not grown in a lab that are rare. The one used for drill bits are in unlimited supply.

[@EEVblog]

Q) How To Become A Quadrillionaire: A) Wait for your fiat currency to collapse. Or just buy some Zimbabwean trillion dollar notes if you are in a hurry.

[@fordmustnagisbestcarath5046]

or B) accidentaly land the asteroid mining probe inside a country that doesnt like you and make them rich

[@JLocke573]

How to become a quadrillionaire: Step 1: Be a billionaire

[@thulyblu5486]

Step 2: put it in a savings account Step 3: wait

[@autohmae]

@@thulyblu5486 that's not how hat works, you hire people who make money for you by investing in stuff and stocks, etc.

[@avery7690]

@@autohmae I agree you should invest.. but accrued interest on a billion dollars is money you, if you're like me, could just live off without having to work for the rest of your life.

[@imperatorcaesardivifiliusa2158]

autohmae it was a joke

[@autohmae]

@@avery7690 But obviously not the way to get to a quadrillion.

[@4thImpulse]

"Basically made out of lil' Jon's teeth," is the best analogy I've heard all day.

[@greganthony804]

What?

[@doommuffinz5276]

Lol yes

[@NicleT]

My father have this syllogism: - Rare things are expensive. - Cheap horses are rare. - So cheap horses are expensive. Ironically, that’s how markets works sometimes!!

[@impyre2513]

Price is merely a reflection of what someone will pay for something. In a perfect market, with sane and logical participants this ends up being determined by the balance of supply and demand. You can have something extraordinarily rare, with little value if no one wants eeds it... (Toast with elvis' face? The lost episode of a show no one watched?) And you can have common items and resources with relatively high value because everyone wants it. (Lithium? Ink?)

[@impyre2513]

That having been said, people are often the furthest thing from sane and logical. Also, common misconceptions (like thinking rare = valuable) can contribute to prices not being a perfect representation of market equilibrium. Which is to say that price isn't always a reliable indicator of value OR rarity.

[@caz5800]

Oh my... my brain!!! Auch!!

[@avelkm]

@@impyre2513 You are wrong in two ways. First, supply/demand equilibrium is just an assumption (hypothesis, if you will), it doesn't emerge from Logic. Second, for "ideal conditions" you need not only perfectly logical people, but also absolute knowledge. While first is achievable in model environments (robots trading on stock markets, as an example), absolute knowledge is impossible. So this hypothesis is unachievable even in theory, which makes it almost useless in most cases.

[@factsverse9957]

There must be a false, or at least flawed premise (assumption) to the argument since you have just shown a contradiction, mathematically speaking.

[@theCodyReeder]

Unfortunately step one is: become a billionaire.

[@Eastern-Asia]

Woah! Didn't expect you here

[@simplyhuman3982]

And reality sucks.

[@nustada]

If an idea is good enough you don't need money. You can use other peoples money.

[@drippingwax]

Fine! What is step one for becoming a millionaire?!

[@nustada]

@@drippingwax Become a singleionaire.

[@WoodHughes]

The Expanse is largely about asteroid mining culture. The book “Delta V” is actually about asteroid mining Specifically of Ryugu. Not only mining, but processing the ore into pure metals and gases and constructing ships on site to ferry the products back to Earth orbit. Maybe the best hard science book I’ve read since the days of Asimov and Clarke.

[@Mach1Greeble]

Delta V is one of my fav books ever. It blew me away.

[@Big_Not_Good]

Author?

[@WoodHughes]

Big, Not Good Daniel Suarez.

[@squirlmy]

​@@WoodHughes for a second I thought you were making some comment about Daniel Suarez. It took me a few to realize you were responding to @Big, Not Good ;D

[@CarFreeSegnitz]

Ronald McReynolds "...refine...an asteroid..." sure there's a reason. Starting with metal alloys, you want to start with known metals of known purities so you can alloy them to get desired properties. For really sophisticated stuff like microchips you'll need to start with extremely pure elements so that chip fabrication can precisely control the doping steps. I'd agree with not bothering to relocated entire asteroids. No point in relocating a huge mass of silicates just to refine out the metals or ices or whatever and then largely ignore the silicates. A case could be made for relocating an asteroid to an orbit closer to the sun to speed the manufacturing process with access to more energy. There is an interesting concept of bagging carbonaceous chondrites to extract volatile ices. While it's debatable whether a bag constitutes an enclosed spaceship it is more than just attaching a rocket to an asteroid. Dr Bruce Damer has a few videos in which he describes the bagging of asteroids but his concept leaves them bagged and inoculated with biomass and seeds, a floating blob of living stuff that might reprocess air, purify water and maybe provide food.

[@charleshamilton9274]

As I just rewatched all four seasons of “The Expanse” this was very timely. And informative. And, as a quadrillionaire, I can finally afford to buy pistachios at Whole Foods.

[@damonguzman]

Underrated Comment

[@binalith4898]

bravo

[@grandetaco4416]

All we need is a small triangle shaped space ship that makes little pew pew noises.

[@billdecat855]

Oh, you are showing your age.... and so am I cuz I know what you're talking about. Fav video game of the early 80's

[@Russo-Delenda-Est]

I wonder if that Japanese probe made a pew pew sound when it shot that asteroid?

[@wednesday914]

Classic

[@KingOpenReview]

Teacher: Today we're gonna learn about Ceres. Siri: 👀

[@elsa7565]

0:55 "I've got four words for you: The Dutch East India Company" Four words, indeed

[@antoniocastro4371]

Sorry, but its 5 words!!!

[@fionafiona1146]

No south see bubble tho.

[@joescott]

Everybody knows that "East" is not a word. Duh.

[@twiggyjohn-johnmerleemondg1754]

That's Actually 5ive Words Heh Lol

[@Barkhuizen1975]

Well the original name is 3 letters, the English 5 so it's on average 4 letters. I think we can let it slide LOL

[@stephenbrazanskas3233]

Why not mine dead satellites? Gotta be millions of dollars floating around nearby and it would clean up near earth orbit.

[@michaczajka3854]

Why somebody would like to buy it?

[@CarFreeSegnitz]

All of satellites and space junk put together weighs about 5,000 metric tons (5 million kg), and that includes the ISS. That meteor that exploded over Chelyabinsk, Russia, back in 2013, weighed an estimated 12,000 tons, and it was only about 19-20 metres across. Ryugu is roughly 870 metres across and weighs about 450 BILLION kg. But more importantly Ryugu and a few others like it and Bennu are potentially hazardous objects. They're not currently in danger of running into Earth but would take only a minor perturbation to put them in Earth's path. Mining both would not only net about a million times more material than humanity has ever launched but also completely eliminate them as threats to Earth.

[@stephenbrazanskas3233]

@@CarFreeSegnitz I'm thinking ease of access. These dead satellites can be harvested with current technology and a little creativity. Ryugu and others we can visit and bring back a handful of dust but that's about it .... Now. Just thinking we could clean up our own backyard, and learn a little, before we take the next step.

[@calgar42k]

@@CarFreeSegnitz and it s not happening tomorrow ! not even in the next century ...

[@CAMacKenzie]

@@CarFreeSegnitz On the other hand, the dead sats contain the very things new sats would be made of, require little refining, are close by, and present a present hazard to space use which could be mitigated by their removal.

[@Cosmic_Railgun]

Honestly thought the title of this was How to Become a Quesadilla.

[@joescott]

That's next week's video.

[@davidw7269]

You sound delicious.

[@RoverIAC]

yeah, 3 min in and realized "this ain't gonna help me get a job".

[@than217]

Rick and Morty season 12: "I turned myself into a Quesadilla Morty!!!!"

[@ohmisterjeff]

@@than217 I totally heard that in Rick's voice in my mind

[@deet2440]

“A lot more money is made in the rush than the gold” Hmm

[@CAMacKenzie]

I liked that line. It was true.

[@Karim_teran]

You want to make money in a gold rush? sell shovels.

[@anoaboadosaro]

@@Karim_teran and monopolize the shovel industry.

[@juleswild9498]

Joe I've been watching your channel for years and it is hightime I told you thank you very much for all the diverse content and food for thought you deliver constantly, you rock mate!

[@hazonku]

When you watch the video & Joe talks about something you were directly involved with! 😮 Proud to say I'm a member of the CosmoQuest community on Twitch that helped map Bennu for the landing! Through their efforts in citizen science we mapped that bad boy in record timing.

[@acehighjohn1759]

Start with a quintillion and make some bad decisions 🤑

[@francb1276]

Who do you think you are, Donald Trump? ;-)

[@blackdogslivesmatter1568]

@@francb1276 wtf...that was exactly what I thought when I saw that comment.

[@exoplanets]

Haha

[@cautiousoptimist]

Best answer ever... :-)

[@frankmueller2781]

Sounds fun! It be happy to give it a go!

[@albevanhanoy]

"Japan beat the US to shooting an asteroid." is officially the new best quote of 2020.

[@ValensBellator]

My sense of national shame deepens tremendously... 😂

[@NoOne-qo6nb]

Good thing it wasn't Chinese or they'd send a bill for the bullet to the asteroids parents

[@parker7444]

no the best one is "how we gonna mine these big rock potatoes in the sky"

[@iainballas]

*Sad eagle noises*

[@simplyhuman3982]

I played asteroids 30 years ago.

[@andyyyz9114]

Joe: Words I can't say "... Siri ..." Jo later: "Ceres" :)

[@exoplanets]

Oh

[@hayo7073]

Oh

[@thebigpicture2032]

Now a bunch of mining equipment is on its way to Joe’s house.

[@mellaniemellbourne7050]

Hey Joe! Fan for years, new patron. This video made me think... I often wonder what would happen if rare and precious resources suddenly weren't rare. Rare and precious meaning not only hard to find, but useful beyond its intrinsic rarity. Gold is rare, but it's also really useful in electronics and in applications where long term corrosive resistance is needed. So imagine suddenly the world's supply of gold is increased to an extent where it costs the same by weight as aluminum. Sure, there would be financial disruption that would definitely have some kind of chaotic effect on things, but now suddenly we have so much more of this useful element that perhaps new materials and technologies are possible. I'm sure lots of things "could be" if the materials for them were easier and cheaper to find, so replace gold with anything and imagine the possibilities. I would love to see you tackle this topic, as you tend to be really good at these "what if" scenarios and explain them in an interesting and engaging way. Thanks for posting!

[@Nonpartisanmusic]

By the time someone manages to get a quintillion worth asteroid we may have already replaced metal with some sort of weird organic megastrong silicon-like material or god knows what....

[@nikolas869]

That's graphene , you are talking about graphene

[@MrWhangdoodles]

@@AaronRMG Then nanobots building with graphene or making diamondoid structures.

[@theultimatereductionist7592]

8:17 So that's how you knock off the crispy chocolately outer shell to get to the gooey creamy caramel nougat center.

[@PatriarchalCompass]

I don't care if I clean toilets but I want to work for an Asteroid mining startup

[@danpenia219]

Well you have Naveen Jain's company

[@electronresonator8882]

but they hire robots for that

[@j5665]

@@danpenia219 Now get cleaning Chris lol

[@danpenia219]

@@electronresonator8882 there are not robots that clean toilets lol

[@ProfTydrim]

@Romain Pecher We?

[@Foreign501st]

Longer videos like this are great. I can't get enough of this channel! Thanks Joe!

[@finlayfarrier2016]

As he says it’s simple supply and demand if there was that high an amount of a scarce metal brought to earth it would lose most of its value so asteroid mining is only useful if the supply is low enough that the cost to mine and transport the asteroid is less than to obtain it on earth

[@joescott]

Exactly. Well said.

[@austinreid3951]

Yup! so unless scarcity becomes a real issue real soon we wont be seeing asteroid mining. and even if we do it will be small scale. If you found gold, it would crash the economy putting that much into circulation. And unless you like watching the Swiss panic and most of the worlds money become pointless overnight dont do that thing!

[@KendrickMan]

I wonder if the source accounted for that

[@unf3z4nt]

Gold and platinum is just the first excuse to head to the skies. The leftover ''waste'' will be a blank slate for living space for a world of one's design. That by itself will be the most precious asset any space rock could provide.

[@z-beeblebrox]

@@austinreid3951 Luckily, modern currency isn't backed by gold so it won't make money worthless. But it will still throw everything into chaos

[@maxsmodels]

In the days of the Dutch commercial dominance you have to remember this: In those days there were only about 6 things to do for pleasure: eat, sleep, drink, gamble, read, and have sex. The idea of something that could literally spice up the bland food of the era was literally with its weight in silver if not gold.

[@Jivolt]

2:57 Why’d they change it? I can’t say. People just liked it better that way.

[@joescott]

I kinda feel sorry for anybody from Istanbul that travels to the US because they must hear that song constantly.

[@kylekoschalk7011]

That's nobody's business but the Turks...

[@Jivolt]

@Joe Scott True. But if it's the TMBG version than they're probably okay with it because it has been scientifically proven that it is impossible to get sick of any song from the Flood album.

[@dabberd6203]

Just watched this and I think Joe nailed it when he mentioned infrastructure. It really is all about infrastructure. The current commercial space race wouldn't be possible if the US hadn't spent billions of dollars on establishing launch sites like Kennedy, Vanderburg and Wallops Island as well as the educational infrastructure to train the scientists and engineers that research, design, and build the commercial rockets (thank you once again Apollo). Asteroid mining would require the same infrastructure creation, which greedy, short-sighted investors are unwilling to finance. In short, asteroid mining would require another Apollo program.

[@JakesOnline]

Imagine a volcano spewing gold and platinum lava.

[@francoislacombe9071]

Mmmmm 🤤

[@Rkenton48]

If that were to happen, we would be in some serious trouble as it would be coming from DEEP inside the Earth's interior.

[@elizabethsullivan7176]

There are planets in other galaxies that are actually giant diamonds

[@JakesOnline]

@@elizabethsullivan7176 let's go

[@TomTalley]

Another interesting conversation, Joe...thanks. I don't think I have heard much discussion about the risk of disturbing the relatively stable orbits if these asteroids by mining them. Seems like they would have sorted out their current positions after bumping into things for a few million years. My suggestion would be to concentrate on developing the infrastructure necessary to change the orbits of near earth crossing asteroids to prevent the largest ones from causing damage, and potentially steer mineable ones to landing spots. Without that capability, any disturbance in the equalibrium in asteroids has the potential to cause many more neo's against which we would be defenceless. Perhaps grab a few and bring them to orbit and mine them there, dropping chuncks now and then using reentry heat as a process heat source. Just a thought. Sure enjoy the shows...thanks doing them..

[@richardgillette5759]

8:40 "That's no asteroid. It's a space station!"

[@danam2584]

How could your comment only have 9 thumbs up?

[@danpenia219]

I have a bad feeling about this

[@CAPSLOCKPUNDIT]

"You betcher asteroid, kid."

[@8584zender]

@@danam2584 Because it butchered the line. Moon not asteroid.

[@danam2584]

@@8584zender Crap!! Thanks for pointing that out!🤦‍♂️

[@SapientPearwood]

I love this topic so much! I work at NASA and conversations like this are a big part of our day to day. Personally, I think ISRU will be absolutely critical. Also tho, topics like cryo fluid management, in space refueling, ship to ship propellant transfer, in space manufacturing, high isp propulsion systems like electric and nuclear thermal, and long duration human habitation (just to name a few) will also be critical for developing self sufficient space infrastructure and economies. My favorite infrastructure idea is a martian skyhook

[@BenTheSkipper]

this video reminds me of what I learnt in History class... "The diffusion theory" which can explain the popularisation of agriculture

[@kugreymon]

Hey Joe, Earth Scientist in training here, a slight correction at around 5:00 It is NOT because asteroid was smaller. The processes that causes heavy metal to sink differentiate light mineral above and heavy one below VERY efficiently. It has more to do with the timing. It is called the late heavy bombardment. It is basically a meteor bombardment of Earth surface AFTER the crust harden and cooled, so the minerals and ores are stuck on the hard surface and didnt sink down like previous meteors.

[@enthusia492]

Just stay away from any blue glowy stuff you find on those asteroids.

[@Tautolonaut]

Nah, shove it into soft drinks and sell it to the plebs.

[@than217]

Beltalowda on Eros deserve to protect themselves from the Inners!!!

[@enthusia492]

@@than217 Inyalowda na wanya Belta be da free people! sasa ke?

[@Rkenton48]

or green slime

[@michaczajka3854]

Actually i would throw it into Mars and feed with rabits, you know theose reproduce pretty fast

[@kerink]

my brothers working on the psyche mission! so cool to see you talk about it

[@yourselfiegotleaked]

EXPANSE REFERENCE YES everyone please watch The Expanse it's the best sci-fi show running right now

[@yourselfiegotleaked]

@@Ynehrs in the future, humanity has colonized the solar system. We have colonies on Mars, the moon, asteroids, and the moons of Jupiter. The earth is united under the planetary government of the United Nations, and Mars is united under one Martian government. The colonies in the belt and moons are controlled by Earth and Mars. Mars and the Earth have been locked in a cold war for decades, leading to the belt to get more independent. The belt survives off of asteroid mining mainly. The catalyst for the conflict of the show is the entrance of an extraterrestrial molecule which seems to be alien in nature, and can be weaponised to be even worse than nuclear weapons. Great show and well worth watching. First season is a bit slow, but it picks up and all comes together in a fantastic way. Hope I sold you.

[@demandred1957]

@@yourselfiegotleaked how did you miss explaining the main draw...? The science!

[@dismafuggerhere2753]

was my previous reply that problematic ?

[@demandred1957]

@@Ynehrs he forgot to mention that the science in the show is 90% legit. All the maneuvers the ships do are how real spaceships move etc.

[@votalis4089]

@@Ynehrs First season is a mixed bag, as is the case with most shows. It takes a little while to get invested in the story and characters. Also the tone of it is a little darker and grittier than the subsequent seasons. Starting with the second season it's truly the best sci-fi show ever though.

[@landokhan]

“I’m so clever” -Joe Scott 2020

[@MichaelJONeill333]

Hey Joe. Just want to thank you again for your videos. I know I've said this many times but you are my favorite KZbinr of all time. And I mean that. You are funny (check!) You're charasmatic (check!) And you are very informative and very very creative! (Check! Check!). Thanks again for your reply last week on my comment about putting my Golden Retriever of 14 down. Never stop making videos man. Stay awesome!

[@coyoteboy5601]

Watching Joe gives me a little more hope for the future.

[@joescott]

Thanks dude!

[@MichaelJONeill333]

Joe Scott U B THE MAN

[@jamessherosick2747]

If it weren't for the dead dog reference, I might think you a kiss-up.

[@tattooryry6859]

I wish I had him as a science teacher. Best class ever!

[@AlexandruJalea]

@10:22 I'm only talking about Shaft. Can you dig it? Nicely done Joe!

[@frank1803]

2:38 Spices , especially Sweet 'n Low.... that was the defining moment!

[@shahzaib4011]

0:55 "I've got four words for you: Theduc Heas Tindi Acompany" Don't worry Joe, we got you.

[@jamikine]

"How To Become A Quadrillionaire" Joe: Not a quadrillionaire. *stonks*

[@iminvisible873]

Who’s joe?

[@JohnPorsbjerg]

DONT GIVE JEFF ANY GOOD IDEAS JOE, NOW THIS ONE IS GONNA BE ON YOU

[@KingArthurWs]

I did some math, and a Starship rocket could go to 16 psyche and come back with ~1 hundred billion dollars of material. (Based on the estimated worth of 16 psyche divided by the estimated area of the asteroid in cubic meters, divided by the number of payloads needed to completely mine it.

[@rpastorchik]

"I'm looking at you Jeff Bezos" LOL

[@prodigalsun1678]

The perfect ad timing at 12:13

[@Luchingador]

I DON'T WANNA CLOSE MY EYES... I DON'T WANNA FALL SLEEP!!!

[@nub-cake]

Thank you Joe for detailed videos like these. They might not get the initial performance of "Why Whales Explode" but they provide immeasurable value. Sincerely appreciated, thank you sir.

[@rallekralle11]

"japan beat the US to shooting an asteroid" deep impact was a thing edit: it was a comet, i remembered wrong

[@Nicolasgusso]

So the US beat japan at Kamikazing an asteroid?

[@unf3z4nt]

Not a big difference in a grand scheme of things. That Japanese probe is shipping back far more material back to Earth than a few microscopic grains of comet dust collected by the Americans. Still a huge loss, but a better prospecting mission by the Japanese.

[@sgeorge1701]

Comet/Asteroid - both are tough targets USA hit the target first, with a bigger impactor, and on July 4th.... Happy Independence day!

[@electronresonator8882]

but they're not allowed to make nuclear weapons, or even defend themselves, so it's still win for so many years to the future until they able to make one and send their troops to war

[@NozomuYume]

A comet is just an asteroid that passes close enough to the sun to lose water and other volatiles. Once it's out of water anything left over is called an asteroid again. i.e. comet/asteroid is a dumb distinction because it's based entirely on its composition and how warm it gets. The only reason they are classified so differently is because they look different. Comets have been seen with the naked eye since antiquity and nobody really knew what they were. Later, after the discovery of the asteroid belt (and after deciding they were too many any too small to call planets), the new name was made to distinguish. Yet if you took a lot of objects from the outer solar system and put them in near earth orbit, they'd stop being asteroids and become comets instead. Then they'd become asteroids again once they stopped spewing volatiles. See? Dumb distinction.

[@hendreeks2585]

"There are no laws on Ceres, only cops"

[@CT-um7zq]

Btw, The Expance tv show. Awesome!!!

[@mlc4495]

The books on which they're based are pretty excellent as well.

[@CT-um7zq]

@@mlc4495 😱how in the world is this the first time I hear about it? Damn! I been missing out. Thanks for letting me know.

[@iain3713]

C T the books are better :)

[@steveswangler6373]

Joe’s joke about the nutmeg falling out of his cupboard each time he opens his door is an example that the majority of people have much more in common than we don’t.

[@remkoburger6595]

Joe: Mentions the Expanse book series Me: EEEEEEEEEEE

[@ericwang8377]

the amount of knowledge and laugh I got from this channel... I love it man, keep up the good work!

[@wavetrex]

Answer: Live in Zimbabwe.

[@hameedullahjasat2560]

Woah I live in zim

[@harbinger_9152]

Joe. Joooooe! You teach me on a variety of delightful things weekly, and today I need to return the generosity. A dying wise man once told me (and I shall pass onto you) “nutmeg is the secret ingredient to anything that tastes good”. We’re no where near even, but I hope that I have changed your life for the better. Also, leave it to a Texan to be embarrassed by not shooting the moon before Japan. LOL Cheers!

[@pomicultorul]

Sir, you have a fantastic channel here! Thank you very much for the content!

[@joescott]

Thank you!

[@malcolmhardwick4258]

Joes a real star !

[@HayderAbdulridha]

9:41 If you are interested in this topic, then I highly HIGHLY reccomend the Expanse. Trust me, it's literally (in my opinion) the greatest TV Show ever made. Very realistic.

[@almightysosa3007]

Am I the only one who saw the moonraker poster for a split second at 10:43 😂

[@almightysosa3007]

hyper troll chris oblock bang bang 300

[@brycejohnson6209]

What people ignore about the expected wealth is that you have to have a price that will pay your recurring costs plus your amortization of set-up expenses. And those figures have to be less than 'other' sources. Put another way, 'my lowest cost is your highest cost' IF there is competition. There is EXTREME pressure to reduce the number of people in space to reduce mining costs. This will not change no matter how cheap transportation gets.

[@jgr7487]

Economy Explained has a *GREAT* video on the VOC!

[@joescott]

I watched it when researching this! Yes, great video.

[@jgr7487]

@@joescott oh, have you watched his vid on asteroid mining? there's something that made me like yours more than theirs, maybe the positivity or its "laid-backness", idk.

[@gvrbeer7441]

@@joescott I'm glad you mentioned this. As a Dutch guy in the UK it's annoying to hear that the people here just get taught that 'Britain ruled the sea'. They are under the impression that they are the only European country that explored the world and think they have discovered everything. It's even more frustrating when they have no clue about their own former colonised countries, having me to explain where Myanmar (Burma) is.

[@ElijahPerrin80]

I am a big fan of building moon infrastructure and use the collection of asteroids that have collected there for quite a while now, and when we can use the moon as a way of collecting asteroids by crashing them into open areas of the moon for mining and storage until needed. Great show Joe.

[@PaulPaulPaulson]

I'm in! Where do I have to sign to join the Joe Scott East Solar Asteroid Mining Company?

[@explorerofworlds512]

I will join you as soon as we figure out if we need to travel East or West to get to Jupiter.

[@ProfTydrim]

@@explorerofworlds512 shame. You beat me to that comment

[@arturduchene]

Infrastructure. You just said the magic woid, Groucho. Fascinating subject. Been pondering it for six decades. It is an amazing time to be living in now to see the birth of space research (exploring) & development (infrastructure). Astronomical!

[@thisisfyne]

Thank god I'm super early on this video, NOW I have the best chance to become a quadrillionaire!!

[@joescott]

Hurry, before other people catch on!

[@thisisfyne]

@@joescott For sure! I discovered your channel a week ago btw, I've been bingewatching since and thoroughly enjoy the content! Keep it up mate :)

[@wolfjemidas]

Damn, got here too late. Well, good luck then mate

[@jimgriffiths9071]

Hurray for the Belters! Lets go sign up Joe!

[@BenTheSkipper]

This video feels like an Advanced² geography class 😂

[@joescott]

Pop quiz next week, be ready for it.

[@BenTheSkipper]

if i like this video,@@joescott ....will you give me an A++?

[@LegionKilo]

4:01 "But IMMANUEL what we could do...." Joe, I think you meant Imagine.

[@adventuresphere7036]

Here I thought Joe was going to say he was single and taking applications💗💗

[@tomjary9284]

😂😂 yeah his wife is gonna kick him out of the house & he will be homeless & probably begging outside nasa.

[@adventuresphere7036]

tom jary 😂😂😂

[@elizabethsullivan7176]

Just signed up for CuriosityStream. I've been debating getting it for quite a while. I definitely have a passion for learning, especially when it comes to space exploration. Voyager 2 was launched only 8 days after my 6th birthday, and I can remember being fascinated with the images it sent back of Jupiter and then Saturn (still my two favorite planets). My birthday is actually the same day as the height of the Perseid meteor shower (I like to joke that I was brought to earth via a meteorite 😄) My husband sure thinks I'm a "space case" 😄 I would have loved to be an astronaut, but I'm terrible at math, which is kind of important to know, so I watch a lot of space documentaries.

[@Scott_C]

"get that sweet asss....teroid resource" 😂 19:43

[@Stranger69in]

@18:30 not to mention the fact that you speak of profits from one trip, I'd imagine if someone goes through all the work of setting up a mining operation they gonna do more than one haul and then destroy their equipment

[@petemurphy7164]

Joe, I live in Holland, I would love to see you attempt to pronounce the Dutch name of the VOC

[@Sadowsky46]

Pete Murphy yeah, and think about those times when the Netherlands still mattered 😉

[@petemurphy7164]

@@Sadowsky46 ouch, *burn* 🤣

[@BRUHItsABunny]

XD feel ya

[@aerojetrocketdyners-2538]

@@Sadowsky46 you mean flanders?

[@willyreeves319]

the gateway project seems to be a good first step. starting funding could be just to get the knowledge about how much gravity do we need long term and some early tourism, an expanded earth level gravity ring made entirely (or mostly) for tourism. probably have a small amount of that space for experiments also. but this would give others a place they could dock to and storage space could relatively easily be added and/or additional rings built with that as their main purpose making multi-trip ships an option. refueling, crew transfer, cargo transfer all done in space with having to get into or out of a gravity well with your space ship (a real one not just the payload part of a launch vehicle)

[@awkwardauntie1978]

10:22 I'm just talkin' "bout Shaft!

[@jamesowens7176]

They say that Shaft mining is a bad mutha

[@michaeljustice2876]

Joe, please make a video about all interesting space projects that are currently active. From all countries that have space programs. Landing on astroids is definitely notable! Edit: maybe even planned missions that are in the making? Title could be "where we're going."

[@TheRealGuywithoutaMustache]

How to become a quadrillionaire: *Be MrBeast*

[@pressaltf4forfreevbucks179]

"S" stands for "some random guy without a mustache"

[@byronwatkins2565]

There is already a consortium of investors drawing up plans to tweak the trajectory of a near earth asteroid sometime in this decade. The goal is a "reverse slingshot" orbit to slow its orbital motion around the sun... sort of backwards to using Jupiter, Saturn, and Neptune to accelerate spacecraft. Ultimately, these tweaks are designed to deliver it into an earth orbit so it can be mined.

[@davidmills6721]

I've always wondered if we start pulling in asteroids could we upset the gravity pull on each planet in some unknowingly way.

[@matthewmcallister9354]

I know I'm late to this but I love the they might be giants reference

[@drewdurant3835]

I thought term for an asteroids ☄️ near earth was “NEO” (Near earth object).

[@cynicalnews963]

NEO means Near Earth Orbit (where the International Space Station is.)

[@HeriEystberg]

Morpheus: 👀

[@fhmconsulting4982]

Space Industries, based in Western Australia, is developing robotic mining for Helium-3 on the moon and has booked its mission for 2022 on Ariane. Western Australia already leads the world in robotic mining and Helium-3 is one of the rarest of rare minerals, so it seems to have a very good business case. Mars is also a potential Helium-3 resource so if all goes well this company could do a Dutch East India...for Helium-3

[@eliyasne9695]

1:42 About the duch east india company: "Economics Explained" recently made a video diving into that company's valuation and why its *inaccurate* and *misleading* to value that company at $7,800,000,000,000

[@Yutani_Crayven]

So, why is it inaccurate or misleading?

[@baileyhayes844]

@@Yutani_Crayven go watch the video, i guess

[@blueckaym]

Excellent video Joe! Not just because of the interesting subject (and the lots and lots of zeroes ;)) but because it was greatly presented!

[@brycenmccrary4193]

"Alot can be said about how the way the Dutch East India Company ran their business" ... Slavery lmao.

[@duanesamuelson2256]

Slavery, actually waring with nations and other companies...

[@CarFreeSegnitz]

250,000 standing army ready to carry out "diplomacy". Oh, okay, let's be honest: "outright theft".

[@DiederikCA]

The Dutch East India company was more about exploitation and coercion than slave trade. The Dutch West India company was all about slave trade. Mostly though, the East India Company's innovation in financing and risk management, combined with its massive size and judicial preferential position allowed it to become a corporate superpower.

[@calgar42k]

lol when was the last time Brycen got whipped and forced into labor ? you want justice sue the slaverers oops they are all dead !

[@focusstudios1296]

@Calgar he’s just being honest about history. No need to be confrontational

[@OldManPaxusYT]

*It's 2 MONTHS FREE, not one month! (when u use JOESCOTT)* OK, I _actually_ signed up and I still can't find "Secrets of the solar system" 😥 Hey Joe, who are you sleeping with over at Curiosity Stream?! When i asked them if I could be an affiliate, like you, I got this reply from Scotty, "My apologies, we are not accepting affiliates at this time. Thank you for your interest. " 🤫

[@Nicolasgusso]

"Japan betean the US at shooting a asteroid...." And US beat Japan at kamikazing an asteroid :D :D :D

[@matheussanthiago9685]

how the turntables

[@Kholdaimon]

The Dutch East India Company didn't sell New Amsterdam because of nutmeg, they sold it because the Governor (Peter Stuyvesant) had reported that the colonists were getting restless and he predicted that they would revolt due to taxes. Which they did, a 100 years later, but still... And the fact that the Dutch didn't own New Amsterdam any more didn't really hurt the traders because they still used it for trade... The Dutch also reconquered New Amsterdam and sold it off after the war ended several times... And every time they lost no trade because of it... So yeah, selling New Amsterdam was just smart, they didn't need to own it to make money of it and they knew that at some point the settlers would revolt against their European overlords...

[@phizicks]

The Portuguese dominated SOMETHING? I was proud for a second... just a second..

[@ThinWhiteAxe]

The Portuguese ruled the seas and therefore the world for quite a long time around the 15th century.

[@robinsuj]

The Portuguese were at one point the biggest (or second biggest, or both at the same time, depending on how you define "biggest") empire on Earth.

[@bluemountain4181]

In the 15th and 16th Centuries Portugal was one of the most powerful countries in Europe

[@danam2584]

YES! What everyone else said.

[@Rkenton48]

uh, yeah. at one time Spain and Portugal were the only navies out there. The pope divided the globe (Even then they knew it was round) and granted Spain and Portugal each half the world to rule over trade. Stopped a war by doing that. But, then the English started making ships, and the rest is history.

[@Zekonos1]

"ancient asteroid impacts" is a hell of a phrase to get your brain going

[@CT-um7zq]

Is there even that much money in the world? Well, if someone makes that much money, does that mean the rest of us have none?

[@davidandrews2972]

I wondered too so I looked it up. There's about $37 trillion in cash in the world, although a lot more value is tied up in property and when you get into stock and the derivatives markets it gets hard to say. Add everything up and you get to maybe a couple of quadrillion tops.

[@michaelspence2508]

Money is an information protocol more than anything else these days. We adjust it to reflect different things, but mostly it reflects the availability of resources. When people put cash values on asteroids, that's not because that's how much a person would get if they brought one back (they wouldn't). It's to give a sense of how much stuff is there (see? Information). One of the biggest uses for asteroids would be to build things already in space. You know how Jeff Bezos wants to build O'Neil Cylinders? Well, shipping all those building materials to space would be insanely expensive (FAR more than the materials themselves in most cases). But if you capture an asteroid, you could theoretically sell some of those same materials *to* Mr Bezos for ten times what they were worth on the ground and it would be at a significant discount from his perspective. I say theoretically, because there are a *lot* of economic forces at play here. The ratio of supply to demand and the overall size of the market are the first two that come to mind, but I'm sure there are more. Although in the beginning, Jeff Bezos is rich enough that whole companies could probably spring up, just to sell space resources to him.

[@CT-um7zq]

@@michaelspence2508 And yet, despite all this progress, it looks like we are heading back to the economic times of kings and land barons.

[@Smokey420Greenleaf]

the problem with asteroid or space mining is simple... bringing back minerals from space would pretty much instantly crash the global market and force the price of whatever you gathered into the ground.

[@likearockcm]

You know how quadrillionares are ,they won't be happy till they're googolaires.🤦‍♂️

[@stardolphin2]

Mmm...when your money outweighs your asteroid, it's kinda overkill.

[@benl8962]

Lol, you literally wouldn't be able to spend a quadrillion dollars in a lifetime. You could probably buy the entire earth and still have money left

[@Rkenton48]

and marry a really hot young wife and run for president.... hey...

[@b1ackrussian]

As Joe said about the Gold Rush - the rush made more money, than gold. I think infrastructure that's created for mining would be worth quadrillions, and raw materials like iron, nickel and gold will be just that - raw materials to build infrastructure. Actually H2O will be more valuable because it will dictate how many people can live in that place.

[@basv8456]

Hoor ik nou VOC? G E K O L O N I S E E R D

[@curiosity_saved_the_cat]

Hèhè, eindelijk een keer iemand die deze referentie gebruikt op een 'gepast' moment. 👍

[@tho2mas2000]

Ik zocht hem al 😂

[@JorgenKremer]

Er hangen hier nog wel een paar Nederlanders rond, na uren door de comments scrollen begon ik te twijfelen.

[@dernthehermit3541]

I think the real value of mining asteroids will be the use of material in space. It costs a lot of money to get stuff out of Earth's gravity well, and our plans for orbital infrastructure can get a lot more ambitious per dollar when we already have millions of tons of material up there.

[@mlc4495]

If any space material ends up on earth it'll likely be as finished product. It doesn't really seem feasible, or profitable to send mined raw materials from asteroids down the gravity well. I agree that space resources will be an in-situ resource for further expansion of the space economy. One major concern I'd have with this however is the idea of earth nation States fighting over space resources. That's what I love about the quoted Expanse series, there's a single UN govt responsible for space colonisation and exploitation of its raw materials. We'll never have a space economy if we continue with the present arrangement of competing nations trying to do their own thing.

[@DustinMarsau]

pretty sure to get rich you just drain all the money from poor people. sick

[@shellynm3480]

Sure looks that way. What happens when they figure out exactly how much cheap labor is needed?

[@ThinWhiteAxe]

@@shellynm3480 poor oppressed robots?

[@DFX2KX]

That's the *easiest* way, to be sure. But it isn't the best way, or even the most profitable one. People suck at long-term planning, tho, so it's what we're used to.

[@DustinMarsau]

@@shellynm3480 there is no reason an american CEO should make 475x more than the average working person. most of the rest of the world doesn't let this extremity exist. Its unethical

[@DustinMarsau]

@attack333 ok attack propoganda robot. You probably also think it's ok that small businesses pay taxes while the major corporations don't pay their fair share of taxes moving money to places like the Cayman isles

[@mabellewis6384]

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[@cryptobanter8301]

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[@thomasaaron9261]

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[@cityprepping4660]

Very true, Bitcon Investment had changed my life completely. I love there future of it!

[@cryptomobster9285]

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[@mabellewis6384]

@@thomasaaron9261 good choice is working