existing space stuff is things like telcom and remote sensing. This is getting commodified fast, but as launch costs continue to fall, it's going to open up new opportunities- either for very niche sensors/payloads or trying to use new capabilities to displace somone like Planet
novel space stuff would be something like in-space manufacturing of exotic materials, or semi-routine orbital tourism. There's probably more opportunities here than we realize, but that's unknown-unknown until people start to experiment