Commercial rockets can now go public, which is quite impressive in itself. However, the real interest doesn't lie in the IPO itself, but in the fact that it openly states a harsh reality—some ventures must burn money continuously for many years before they can see a glimmer of success.

In recent years, what are commercial rocket companies afraid of? To be honest, their biggest fear is not failure. The true nightmare is: before failure even occurs, funding runs out, and the path is blocked. Money keeps burning endlessly, technology advances bit by bit, sounding like steady progress. But during this process, the capital market keeps asking the same question: When will you make money? When will you see a return? Sometimes, this pressure is more deadly than technical challenges. Many projects fail not because of technical issues, but because of the irreconcilable tension between long-term financing and short-term accountability. To some extent, going public is a form of compromise—it acknowledges the necessity of burning money and provides entrepreneurs with credit to keep moving forward.