SpaceX IPO Will Bolster America’s Tech Supremacy
The United States is still the country forging the planetary future.
The coming IPO for SpaceX matters less for its gargantuan size than because it marks a dramatic change in the tech sphere. The IPO has the potential to make SpaceX one of the world’s most valuable companies, given suggestions that the listing could raise $80 billion in funding. This is far higher than the $26 billion raised by the world’s most profitable company, Saudi Aramco, in 2019. More significantly, however, after decades in which software has ruled America’s stock market, the SpaceX IPO represents a step toward a new age where the most valuable tech companies are centered around space. This signals a broader shift in investor confidence away from purely digital platforms and toward physical, infrastructure-heavy innovation.
Whereas the enormous wealth of Google, Microsoft, Meta, Apple, and Amazon is built on improving the experience of the internet, SpaceX and other rising space firms are expanding the human horizon into space. This is significant, as it suggests that the next era of technological dominance may lie in scientific expansion and the resulting industrial capacity, rather than internet infrastructure. The potential is almost incalculable. Global space industry revenues have grown to over $600 billion in the past few years and are projected to hit $1.8 trillion by 2035. Clearly, investors view the sector as a long-term economic frontier.
Economic Dynamism
The Price of Stagnation: Britain’s Retreat from Dynamism
We face a basic issue: we do not let cities or communities grow or die.
.jpg)
London and the Architecture of Creative Growth
Preserving London's creative dynamism will require humility from policymakers and a commitment to keeping the city liveable.
.jpg)
.jpg)
Edmund Phelps: Economist of Values
Edmund Phelps was rooted in an older tradition of economics, that of political economy, than perhaps even he recognized.
AI Vulnerability Can Spur Tech Progress
Until recently, finding software vulnerabilities, especially in applications where the source code is unavailable, was the province of a tiny, elite group of reverse engineers.
