Our thesis
Draft. Launch cost / kg has crossed a threshold where space-based infrastructure becomes a unit-economics business, not a sovereign expense. ARK-style framing: we are in the same phase relative to space as we were to the internet in 1995.
Sub-themes we track
Launch services
Rocket Lab as the credible #2 to SpaceX (private); Neutron is the test.
Direct-to-cell
AST SpaceMobile vs Starlink Direct — who scales coverage first.
Lunar economy
Intuitive Machines, CLPS contract pipeline.
Space-based ISR
Crossover with Defense vertical — constellation defense doctrine.
Indicators we monitor
- •Launch cadence + cost / kg disclosures
- •NASA CLPS award flow
- •Mobile network operator partnerships (direct-to-cell)
- •Defense space-budget line items
In coverage
View all →Recent trail signals
See trail →No smart-money signals yet. Trigger ingestion via
/admin/run-13f.