But it sounds like the co-founders both do have significant space industry experience. Maybe not directly with the regulatory aspects, but a little bit of common sense...
Edit: the article describes them as an engineer that developed a satellite concept for Google and the other sold his previous company to Apple. Neither of them have experience in this regulatory environment. Neither Google nor Apple are space companies. These founders are going in on the tech aspect of distributed computing in space, I doubt either has launched a satellite before.
Uber did that, in a different industry, and has had success. I'm appalled by the behavior, but perhaps others are following their model.