3-2-1 Liftoff: The Launch of the Space Industry
The first space race raged between two economic superpowers one upping one another to demonstrate technological superiority. Half a century later, the space race is back on, however this time it is being led by privately owned companies rather than geopolitical superpowers. Throughout the 20th century, space travel resulted in massive bottom line losses, propped up by taxpayer dollars with little more than scientific research and spectacular pictures to show for it. At the turn of the century, growing concerns over climate resulted in some people hypothesizing that making humans interplanetary could be solution to this problem. To make space travel viable for large masses in a manner it never was before, Elon Musk believed the most important challenge to solve was making space travel “affordable” which ultimately led to the beginning of SpaceX [NASDAQ: SPCX]