I see the Falcon 9 as the new Boeing 747. The origin of the 747 is fascinating. It went from an agreement between the Pan Am CEO and Boeing CEO at a golf game

I see the Falcon 9 as the new Boeing 747. The origin of the 747 is fascinating. It went from an agreement between the Pan Am CEO and Boeing CEO at a golf game to a prototype in 2.5 years at a time before computer-aided engineering (slide rules all the way). It was also meant to be a holdover until the SST came online (which never happened of course). But the 747 was so succcessful and dominant for 40+ years that it was a massive profit-center for Boeing. The R&D had long since been paid for and the profit margin was huge. The dominance only really broke because engines became so efficient that 4 engine planes no longer made sense, especially with the lower speed modern passenger aircraft go (the 747 would go Mach ~0.9, a 787 or A350 will top out at Mach ~0.8 for efficiency reasons). The Falcon 9 is in that same class of industry dominance. The profit margin on a reusable launch must be massive. It's also incredibly reliable. Even when competitors build a reusable rocket, it'll take time to have a proven track record. Until then, it's a license to print money.