RedBull manned space program delivers while space shuttle crawls around on the ground in LA...
by the way, he wasn't in space quite yet. Entry from true orbit in a similar parachute dive manner would not be the same engineering challenge. Speeds would be much higher (9.81m/s2 acceleration without any friction until you get there, or more like 8.6 m/s2 as pointed out very clearly
here) and heat buildup would be so rapid, even a heat shield made of a few cases of RedBull would not protect the astronaut.
400km up in the space station, if you jumped out the window and fell straight down (impossible, as you are orbiting at 27,600km/h, but let's assume shuttle failure and complete dead stop) to about 100km where the first gas molecules will begin to slow you down, you'd probably reach something like 6000mph before the first resistance and heat buildup begins.
Even if you come down at an angle (e.g. you don't drop straight down like an asteroid, but at an angle like the shuttle on re-entry, it gets really hot - that angle they entry at is about the only one that works - faster and the vehicle or parachutist bounces back into space like a skipping stone on water, try it slower and you're getting back to the 6000mph scenario and your descent speed is too high. Without propulsion to decelerate you before the atmosphere, there's just no way to parachute from outside of it and live.
This balloon jump stuff "research" will only help if the Virgin Galactic capsule or whatever space vehicle should fail at a medium to high elevation, because a bailout at mach 5 while still in low orbit and dense air isn't too nice to your freshly pressed space suit either
That balloon wasn't moving forward, unlike any space ship that wants to reach orbit.
