Experience Space
Like Never Before

China's Tianwen-2 reached the quasi-moon Kamoʻoalewa in June 2026 to grab an asteroid sample, return it to Earth by 2027, then chase a comet.

Side-by-side: Roman, Hubble, JWST, and Euclid compared on mirror size, field of view, wavelength, orbit, and science goals — with a full comparison table.

NASA's X-59 flew supersonic on June 5, 2026. Here's what the Quesst mission means for quiet supersonic travel — and if a Concorde successor is really coming.

On May 28, 2026, a New Glenn static fire anomaly levelled Launch Complex 36. Here's what it means for Blue Moon, Artemis 3, and NASA's 2028 moon landing.

NASA's $749M Moon Base Phase One — Astrolab CLV-1 and Lunar Outpost Pegasus rovers, Blue Moon Mk1 LTV delivery, and Firefly's MoonFall hopper drones.

SpaceX has roughly $22 billion of lifetime federal commitments, $3.8 billion in FY2024 obligations, and a 100% sweep of NSSL Phase 3 Lane 1 task orders awarded through May 2026. The bull case is that this concentration is the moat. The bear case is that this concentration is the tail risk. We build the full contract stack, walk the audit trail, and weigh the political volatility that bracketed June 2025.

The institutional thesis on SpaceX at $1.75–2.0 trillion. We build the full sum-of-the-parts across Launch Services, Starlink, Starshield, and Dragon, weigh the bull case against the bear case with explicit probability weights, and route to four supporting deep dives — Valuation & Secondary Markets, Starship Economics, Government Contract Risk, and Starlink Unit Economics.

SpaceX trades at ~$1.51T on Forge Global and $1.86T-implied on Hiive as of May 12-13, 2026. Project Apex — the codename for the confidentially filed IPO — targets $1.75-2T. We build the SOTP, walk the comparable multiples, and explain why a $350B Sacra mark and an $800B December tender now coexist with bank desks pitching $2T.

Starlink's 60-70% EBITDA margin is either the most defensible moat in telecom or the most temporary. This is the model behind the number: per-satellite CapEx by generation, ARPU segmented across five customer tiers, $/Mbps math versus fiber and GEO, churn dynamics, Direct-to-Cell take-rate sensitivity, and regional capacity vs demand. The unit economics either survive Amazon Leo and OneWeb pressure or they don't.

Starship is the single most consequential variable in the SpaceX SOTP. The marketed economics — $20-30M per launch, $100-200/kg to LEO — would re-base the entire space economy. The probable economics through 2028 are different. We build the model, weigh HLS execution risk, and explain why the Mars architecture is the most over-discussed and least near-term-relevant part of the thesis.