Innovation in Times of Crisis: Outsiders Lead the Way V0.2

In times of crisis, those who can most afford to take risks are often the least willing to take them. This is because they have the most to lose if they fail. However, it is often these outsiders who are the ones who drive innovation forward. Established institutions are often set in their ways, making them averse to taking chances. They are also more likely to be risk-averse because they have a lot to lose if their innovations fail. This is why innovation often originates from outsiders who are not beholden to the status quo. Elon Musk and SpaceX Elon Musk was forced to launch SpaceX after several failed attempts to negotiate a deal with existing satellite launching companies because he was dissatisfied with the high cost and long wait times associated with their services. In 2001, Musk tried to buy a refurbished Russian ICBM to launch a satellite into orbit, but he was quoted a price of $30 million. He realized that at this price, space travel would be inaccessible to most people, so...