Are American companies thinking about innovation the right way?

Innovation is crucial for game-changing advancements in society, whether it's treatments for serious diseases, developments in AI technology, or rocket science.

Today on the show, we're airing two episodes from our daily economics show The Indicator. First, a new paper suggests that breakthrough innovations are more likely at smaller, younger companies. We talk to an inventor who left a big pharmaceutical company to start afresh, leading to some incredible treatments for serious diseases.

Then, it's off to Mars — or at least, on the way. Elon Musk's company SpaceX did a first test launch of a rocket meant to go all the way to the red planet. The rocket made it up off of the launch pad and lumbered briefly through the sky before self-destructing over the Gulf of Mexico. Suffice it to say, it's not quite ready. NPR science correspondent Geoff Brumfiel walks us through SpaceX's business plan as we try to figure out if this company has the funding and business acumen to reach its moonshot goal.

These two Indicator episodes were originally produced by Corey Bridges and Brittany Cronin, engineered by Katherine Silva and James Willets, and fact-checked by Dylan Sloan and Sierra Juarez. Viet Le is the Senior producer of The Indicator. Kate Concannon edits the show.

The Planet Money version was produced by Willa Rubin, engineered by Robert Rodriguez and edited by Keith Romer.

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Music: "Love Rocket," "Say My Name," and "Digital Love."