This Hot Air Balloon Takes You to the Edge of Space

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Dec. 11 (Bloomberg) –- World View Enterprises CEO Jane Poynter discusses how $75,000 and a hot air balloon can get you 19 miles high. She speaks with Adam Johnson and Trish Regan on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Here to explain how the whole thing works.

Where are you in the process?

We will start testing in the spring.

Then we will be ready to fly you and everyone else up to about 100,000 feet at the end of 2016. what was the inspiration to do this?

It is kind of out there, no pun intended.

I have been involved in commercial space practically my entire life.

People have been flying balloons for decades.

A handful of people, about six people have been up to this altitude back in the 1950s. the first person when up to 100,000 feet in a helium balloon in 1967. the idea itself is not brand- new.

However, being able to take all of us up there is brand-new.

Is this a passion, is this a profitable opportunity?

What is the driving force to make this thing a reality?

All of the above.

The market right now looks really promising.

In the luxury market, people are wanting to spend their money on incredible experiences.

That is one aspect.

Personally, i am excited about the aspect of going myself and seeing that view.

That is the basic question, will i get back down?

Of course, we are building all kinds of safety features into this thing.

One of them is the power wing.

There is effectively what looks like a parachute, and it is pre- deployed.

That means it's out all the time.

You have effectively turned your capsule into a glider.

Do you have oxygen?

The capsule is like a spacecraft.

We are looking at pictures, it's very attractive.

The designers would be so happy to hear you say that.

I'm not saying i necessarily want to get into it.

Richard branson has been on the show many times.

He is all excited about virgin galactic, what they are doing.

But $250,000 versus 75,000 dollars, how are you able to undercut the price so much?

It is an incredibly different experience.

We are using a helium balloon.

In many ways, it's much simpler.

But it gives you a very different experience.

May be the next time we do this interview, it will be in one of your capsule's. coming up, what is the key to success?

According to our next guest,

This text has been automatically generated. It may not be 100% accurate.

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