Hardware-heavy companies (e.g. a lot of the new space companies) need the level of investment that you can only really get from public markets, but are still qu

Hardware-heavy companies (e.g. a lot of the new space companies) need the level of investment that you can only really get from public markets, but are still quite small companies from the perspective of people here. For example, they might be less than 100 employees but still need half a billion dollars to procure satellite testing and launch services to scale up a constellation they're launching. SPACs have been useful for this purpose. So have governments. The entire US space industry has to be viewed in terms of budget reductions for federal aerospace, in terms of privatization.