Three Private Companies Building Space Shuttle Replacements
It’s amazing how a simple signature in Washington can cause an explosion in innovation. No, I’m not talking about new laws, but rather, the loosening of federal oversight that opens the door to the private sector.
Consider a seemingly arcane move in 2000, made by President Clinton, to change Global Positioning System data from “selective availability” to public record. His approval opened the floodgates to spawn an entire consumer technology industry for GPS systems we now take for granted.
Savvy investors who saw the big potential in privatization made a killing as a result. Consider that from 2001 to 2007, Garmin (GRMN) stock soared from less than $10 in 2000 to more than $120 in 2007, while the market added about 25% in the same period.