Space is having its internet moment. Investors should act accordingly.

In the 1990s, the internet stopped being a novelty and started to resemble what it is today. The release of the Mosaic browser in 1993 made the web usable for ordinary people. Amazon listed on Nasdaq in 1997. And by 2000, Cisco briefly became the most valuable company in the world. The bubble later burst — but the networks that had been built did not disappear. The internet began to underpin trade, security and everyday life. Some investors saw what was happening. They invested once the networks were widely used, the rules were settled and customers were paying every month or signing long contracts. They did not wait for the technology to be perfect but for demand to steady.