• SpaceX: The Company That Turned Space Into Infrastructure

    SpaceX is no longer just a rocket company. That sentence is the key to understanding both the excitement and the risk around its planned public listing. For most of its history, SpaceX was understood as Elon Musk’s audacious attempt to reduce the cost of space access and make humanity a multi-planetary civilisation. That story is still there. It remains central to the company’s identity. But the business now sitting in front of public investors is broader, stranger and more strategically complex than the original “private rocket company” label suggests.

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