If you’re one of the thousands who cashed in on the historic launch of SpaceX’s stock, you owe NASA a thank you. After all, the company’s trillion-dollar initial public offering is a triumph of public policy as well as a testament to Elon Musk’s talents as an entrepreneur.
SpaceX’s rise can be traced back to NASA’s controversial 2004 decision to transition away from its old shuttle program towards a new generation of commercial launch vehicles to get cargo — and eventually crew — to the International Space Station.
The company was chosen to compete to build one of these next-generation rocket systems and eventually produced the Falcon 9, which allows customers from NASA to the Department of Defense to other commercial companies to launch more frequently and for less than was thought possible.
Thanks to these lower launch costs, America is also now home to a broad, vibrant commercial space industry that is the envy of the world, encompassing everything from the low-Earth orbit satellites that provide Internet to rural areas to the remote sensing satellites that help Ukraine stave off Russian aggression.
