
The Case Against Vertical Integration
SpaceX built everything in-house and won. Now every serious launch company is asking whether that was the lesson or the exception. The answer matters more than the industry wants to admit.
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JWST was supposed to confirm what we thought we knew about the early universe. Instead it keeps finding galaxies that shouldn't exist, in places they shouldn't be, at sizes that don't fit the models. Cosmology is having a very good crisis.

SpaceX built everything in-house and won. Now every serious launch company is asking whether that was the lesson or the exception. The answer matters more than the industry wants to admit.
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After three decades of political retreat, nuclear energy is attracting serious capital and serious policy attention again. The reasons have less to do with climate ideology than with the arithmetic of the power grid.
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After sixty years of false starts, nuclear thermal propulsion is attracting serious investment and serious government attention. This time the physics haven't changed, but the politics have.
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Starlink has the subscribers. Amazon has the distribution. OneWeb has the spectrum. The satellite broadband market is settling into a structure that looks less like a competitive market and more like a set of parallel monopolies serving different customers.
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The Department of Defense has spent decades building launch infrastructure it owns and operates. The rise of commercial launch providers is forcing a reckoning with that model.
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Artemis I flew around the Moon and came home. No crew, no landing, no surface operations. And yet the mission settled several questions that mattered enormously — about SLS, about Orion, and about whether NASA can still execute deep space missions at all.
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The FAA licenses rocket launches. The FCC coordinates spectrum. The Department of Commerce oversees remote sensing. No single agency understands the full stack of what a modern space company does, and that fragmentation is becoming a competitive liability for the United States.
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Falcon 9 proved reusability. Starship promises scale. New Glenn offers reliability. The heavy lift market is about to get very crowded — and the economics will never be the same.
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Starlink has 4 million subscribers and a defense contract. Amazon is launching Kuiper. OneWeb is flying. The low Earth orbit broadband market is about to find out whether there is room for more than one winner, and the answer will be determined as much by spectrum rights as by launch cadence.
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