Neil here.

To see any major tech progression in the near future, whether it’s on Earth or beyond, we need to funnel more private dollars into space.

The world depends on space tech, not just for space launches and travel, but for driving progress in much of the tech that we use every single day.

We’re in the midst of a 21st century “space race” – but this time, it’s private companies that are going head to head.

In May 2020, SpaceX made history as the first private company to send a manned spacecraft into space.

The spacecraft held two NASA astronauts, delivering them to the International Space Station and returning them home safely just two weeks ago.

Not only was this trip the first manned U.S. spacecraft launch in a decade, it was also the first successful splashdown of a U.S. spacecraft since the Apollo program ended 45 years ago.

The SpaceX launch and return were huge deals.

They show both the potential of space travel to become easier and more accessible, as well as the value of partnering private companies with government agencies to make the seemingly impossible happen.

There is incredible value in partnering government agencies and private companies, like NASA did with SpaceX.

These types of partnerships benefit both sides.

In this case, NASA took advantage of the private sector’s inherent creativity… while avoiding the majority of production time, effort, and risk it would take to build a new spacecraft of their own.

And on the other side, SpaceX received over $3.1 billion in funding (and two experienced astronauts) from NASA for the project, ensuring massive revenue growth and worldwide renown for participating.

SpaceX, like most private companies, can generally achieve much larger goals with much less money, making their NASA partnership a win-win for both parties.

But Elon Musk isn’t the only person making waves in space tech.

He’s facing swift competition from other private equity greats, like Jeff Bezos’ Blue Origin and Robert Bigelow’s Bigelow Aerospace.

Competition may not be good for startups… But it’s great for consumers. As more companies try to get in on the action, the benefits of space tech will become more accessible to all.

Space tech development could make things like landing on the moon again, or even living on the moon, a reality.

It could also fuel future travels to Mars and other planets, and ultimately make space travel as easy as getting on an airplane is today.

But it’s not just about space…

This type of competition will also push progress in sectors we utilize every single day here on Earth.

I’m talking about things like 5G, GPS, and other satellite-dependent industries that will have nowhere to go if space tech slows down.

The possibilities here are endless.

To me, that’s the beauty of startups. They have the hustle, willpower, and imagination to achieve the unimaginable… something agencies and large corporations can’t do alone.

And the greatest tech developments we’ve ever seen – whether in space or not – have come from these teams of entrepreneurs with seemingly impossible ideas.

The big guys need to rely on the agility and brainpower of startups if they want to see any progress in space tech – or any other industry, for that matter.

Space travel is only the beginning of what private companies can achieve… and that’s why I’m so excited you’re here to be a part of it all.

Just remember to always follow the money.

You should always pay attention to what industries the biggest corporations and agencies are funding… because chances are, these are the most influential gamechangers out there.

And these days, space tech definitely fits the bill.

Have a great weekend, and I’ll be back soon with another update.

Until next time,

Neil Patel