While I am as critical of government overspending as anyone, this comparison misses some important nuances.
Let's take the SpaceX example. SpaceX is great in terms of pushing innovation. But there would be no SpaceX without NASA or other government entities. They need those tax dollars (especially early on) to survive. And when they lose a government payload, the government takes something to the tune of 80% of the loss because they are self-insured. This has the effect of SpaceX farming out their risk to the government.
But this is one of the areas where the government excels. Namely, taking large risks in nascent fields where the risk is too big for private companies to balance against the benefit by themselves. But the complexities and unknowns that create that risk is also the very same thing that creates the budget and schedule risk as well.
Let's take the SpaceX example. SpaceX is great in terms of pushing innovation. But there would be no SpaceX without NASA or other government entities. They need those tax dollars (especially early on) to survive. And when they lose a government payload, the government takes something to the tune of 80% of the loss because they are self-insured. This has the effect of SpaceX farming out their risk to the government.
But this is one of the areas where the government excels. Namely, taking large risks in nascent fields where the risk is too big for private companies to balance against the benefit by themselves. But the complexities and unknowns that create that risk is also the very same thing that creates the budget and schedule risk as well.