A commercial space transportation company is about to go public with a valuation of around $1 billion, despite not yet providing commercial space transportation. Momentus of Santa Clara, California—which sells in-space shuttle services that help move satellites between orbits—is having what one might call a moment in the sunshine. And the 3-year-old start-up isn’t even unusual: Space is filling up with all manner of start-ups that resemble the flowers that once sparked a speculative bubble centuries ago. In fact, we’re approaching tulipmania in space.
