WEBVTT - Bonus: Hustle, Risk & Rockets: Lessons from Sir Peter Beck

0:00:01.000 --> 0:00:04.760
<v Speaker 1>You're listening to a shares these podcast, we just.

0:00:04.680 --> 0:00:07.200
<v Speaker 2>Want to in your head right now, what have investors

0:00:07.200 --> 0:00:10.840
<v Speaker 2>and other humans got to be optimistic about looking towards space?

0:00:11.280 --> 0:00:14.000
<v Speaker 1>I mean it's so exciting. I mean, you know, there's

0:00:14.160 --> 0:00:18.360
<v Speaker 1>real tangible plans and opportunities to send humans to other planets.

0:00:18.520 --> 0:00:21.439
<v Speaker 1>If you look at the commercial space industry, we just

0:00:21.480 --> 0:00:24.479
<v Speaker 1>built too spacecraft commercially to go to Mars, and you

0:00:24.480 --> 0:00:26.799
<v Speaker 1>know there's there's so many, so many cool projects that

0:00:26.840 --> 0:00:29.320
<v Speaker 1>we get to work on and so many cool opportunities.

0:00:29.480 --> 0:00:32.120
<v Speaker 1>And you know, typically the space, you know, space has

0:00:32.120 --> 0:00:34.760
<v Speaker 1>been a domain for government, it's not commercial companies. And

0:00:35.000 --> 0:00:37.320
<v Speaker 1>you know, as a public company, everyone can come along

0:00:37.320 --> 0:00:40.760
<v Speaker 1>for the ride too. So yeah, I think it's tremendously exciting.

0:00:40.880 --> 0:00:42.720
<v Speaker 2>Do you have one key focus when it comes to

0:00:42.800 --> 0:00:45.440
<v Speaker 2>leading your team? One value that you wouldn't sacrifice?

0:00:45.840 --> 0:00:50.120
<v Speaker 1>Hustle the rocket lab hustle, So everybody is expected like

0:00:50.200 --> 0:00:53.360
<v Speaker 1>if barriers come up, you've just got to climb over them.

0:00:53.560 --> 0:00:56.080
<v Speaker 1>And you know, if you look at our competitors, we

0:00:56.120 --> 0:00:58.560
<v Speaker 1>are never going to outspend our computers, but we could

0:00:58.560 --> 0:00:59.880
<v Speaker 1>sure as heck out to hustle them.

0:01:00.720 --> 0:01:03.320
<v Speaker 2>Love it. You've talked a lot about risk. It's a

0:01:03.400 --> 0:01:05.399
<v Speaker 2>huge part of any space related work. What is your

0:01:05.440 --> 0:01:08.000
<v Speaker 2>advice to leaders who struggle with risk and how should

0:01:08.000 --> 0:01:09.520
<v Speaker 2>they think about or approach it.

0:01:09.920 --> 0:01:12.640
<v Speaker 1>So there's perceived risk and then there's actual risk, So

0:01:12.800 --> 0:01:15.120
<v Speaker 1>making sure you don't get confused with those two and

0:01:15.160 --> 0:01:17.240
<v Speaker 1>then you know, you have to take a level of

0:01:17.319 --> 0:01:20.000
<v Speaker 1>risk if you want to achieve good things, But you

0:01:20.000 --> 0:01:21.920
<v Speaker 1>should never take a level of risk that you know

0:01:22.200 --> 0:01:24.440
<v Speaker 1>is pushing all the chips. In so roca A Lab,

0:01:24.520 --> 0:01:27.640
<v Speaker 1>Yes we take risk, but we never take so much

0:01:27.720 --> 0:01:29.639
<v Speaker 1>risk that that we ever put you know, the company

0:01:29.800 --> 0:01:33.520
<v Speaker 1>at risk. I've actually got a sign on my toolbox

0:01:33.560 --> 0:01:36.480
<v Speaker 1>at home that said says everything is sweetened by risk.

0:01:37.080 --> 0:01:39.320
<v Speaker 1>So you have to you have to get comfortable with risk,

0:01:39.400 --> 0:01:42.319
<v Speaker 1>but it should be it should be well engineered risk.

0:01:43.080 --> 0:01:45.040
<v Speaker 2>So pressure is a given when you're building a rocket

0:01:45.080 --> 0:01:48.040
<v Speaker 2>like Neutron with a tight deadline. How do you motivate

0:01:48.040 --> 0:01:50.279
<v Speaker 2>your team to stay productive and inspired when the stakes

0:01:50.280 --> 0:01:50.720
<v Speaker 2>are high?

0:01:51.640 --> 0:01:53.920
<v Speaker 1>Well, the team at RockA Lab is just so awesome,

0:01:54.040 --> 0:01:57.200
<v Speaker 1>like we don't have to do that. Everybody believes in

0:01:57.200 --> 0:01:59.720
<v Speaker 1>the mission, believes in the company. You know, the team

0:01:59.760 --> 0:02:04.000
<v Speaker 1>here at OLC three have just been just working day

0:02:04.040 --> 0:02:07.080
<v Speaker 1>and night. Like I have a camera that I can

0:02:07.120 --> 0:02:09.919
<v Speaker 1>log into for OLC three actually up on that water tower,

0:02:10.280 --> 0:02:14.200
<v Speaker 1>and every time I log into that camera in the snow,

0:02:14.320 --> 0:02:16.480
<v Speaker 1>in the sun, day or night, there is just a

0:02:16.560 --> 0:02:19.919
<v Speaker 1>team of people just swarming around this place, working flat out.

0:02:20.040 --> 0:02:21.839
<v Speaker 1>In fact, it started to work again. You know, we're

0:02:21.880 --> 0:02:24.480
<v Speaker 1>just you know, open this pad in their back at work.

0:02:24.960 --> 0:02:27.240
<v Speaker 1>So you know, the team at RockA Lab is just

0:02:27.320 --> 0:02:30.799
<v Speaker 1>amazing and you know the mission and what we're trying

0:02:30.840 --> 0:02:33.519
<v Speaker 1>to achieve, and you know the coolness of the technology.

0:02:34.040 --> 0:02:35.560
<v Speaker 1>I don't have to do a whole bunch of motivation,

0:02:35.639 --> 0:02:36.280
<v Speaker 1>that's for sure.

0:02:36.639 --> 0:02:39.919
<v Speaker 2>The new acting NASA chief, I think, Seann Duffy, said

0:02:39.919 --> 0:02:42.240
<v Speaker 2>that NASA will focus on exploration, particularly Mars and the

0:02:42.280 --> 0:02:45.919
<v Speaker 2>Moon yep, and move away from climate research and earth sciences.

0:02:46.000 --> 0:02:49.080
<v Speaker 2>So just wondering how that shift impacts rock Land.

0:02:49.720 --> 0:02:52.440
<v Speaker 1>Yeah, we've done We've actually done quite a bit for

0:02:52.480 --> 0:02:56.800
<v Speaker 1>the client climate research and science guys. So we launched

0:02:56.840 --> 0:02:59.840
<v Speaker 1>a mission from a New Zealand actually called Tropics and

0:03:00.160 --> 0:03:03.480
<v Speaker 1>was for hurricane detection. And you know those spacecraft we

0:03:03.639 --> 0:03:06.240
<v Speaker 1>used in a couple of years of hurricane seasons and

0:03:06.400 --> 0:03:08.799
<v Speaker 1>kind of like saved lives, So you know that that

0:03:08.960 --> 0:03:12.800
<v Speaker 1>there they were. They were great, great, great programs to do.

0:03:12.919 --> 0:03:16.840
<v Speaker 1>But the new administration has a clear focus on you know,

0:03:16.960 --> 0:03:20.760
<v Speaker 1>leaving Earth's gravity well and exploring other planets, and you

0:03:20.800 --> 0:03:23.360
<v Speaker 1>know that will aligns very well with us, and you

0:03:23.360 --> 0:03:27.000
<v Speaker 1>know the administration also is looking for efficiency and speed,

0:03:27.560 --> 0:03:30.119
<v Speaker 1>and that's the definition of rocket Lab.

0:03:30.240 --> 0:03:33.720
<v Speaker 2>Right, that's a great definition. I think the other quote

0:03:33.760 --> 0:03:36.640
<v Speaker 2>was that NASA will build a nuclear reactor on the Moon,

0:03:36.640 --> 0:03:39.360
<v Speaker 2>and they obviously got quite a lot of mainstream media

0:03:40.080 --> 0:03:42.480
<v Speaker 2>like what does that mean for the space industry broadly,

0:03:42.880 --> 0:03:45.080
<v Speaker 2>but also like how how is that likely to impact

0:03:45.200 --> 0:03:46.960
<v Speaker 2>rocket Lab having those sort of ambitions Like.

0:03:47.040 --> 0:03:48.800
<v Speaker 1>Yeah, no, I mean I think if you're going to

0:03:48.840 --> 0:03:52.400
<v Speaker 1>go and go and you know, settle other planets and

0:03:52.400 --> 0:03:54.800
<v Speaker 1>and and the Moon, you know you need to you

0:03:54.840 --> 0:03:57.240
<v Speaker 1>need a pretty pretty important to have a big source

0:03:57.280 --> 0:03:57.760
<v Speaker 1>of energy.

0:03:58.360 --> 0:03:58.840
<v Speaker 2>So you know this.

0:03:59.000 --> 0:04:01.080
<v Speaker 1>There's just a tremendous number of those kind of kind

0:04:01.120 --> 0:04:04.080
<v Speaker 1>of programs. But I think I think what the administration

0:04:04.320 --> 0:04:07.800
<v Speaker 1>and Secretary Duffy is trying to do is there certain

0:04:07.840 --> 0:04:10.160
<v Speaker 1>elements that you need to get right to be able

0:04:10.200 --> 0:04:13.280
<v Speaker 1>to land and be successful on another planet and one

0:04:13.280 --> 0:04:16.000
<v Speaker 1>of those is energy obviously, so you know they're systematically,

0:04:16.240 --> 0:04:18.719
<v Speaker 1>you know, identifying the bits that they need to be

0:04:18.760 --> 0:04:21.440
<v Speaker 1>able to live on Mars, and then you know, developing

0:04:21.480 --> 0:04:24.599
<v Speaker 1>programs and research programs around those technologies.

0:04:24.760 --> 0:04:28.480
<v Speaker 2>Yeah, amazing. Well, thank you, sir Peter Beck. I personally

0:04:28.520 --> 0:04:30.640
<v Speaker 2>do not want to go to space, but I neither

0:04:30.800 --> 0:04:33.640
<v Speaker 2>I would have the opportunity to do an interview on

0:04:33.720 --> 0:04:37.320
<v Speaker 2>a launch complex, so thanks very much. Investing involves for

0:04:37.440 --> 0:04:39.400
<v Speaker 2>risk you might lose the money you start with.

0:04:39.680 --> 0:04:43.440
<v Speaker 1>We recommend talking to a licensed financial advisor. We also

0:04:43.480 --> 0:04:46.799
<v Speaker 1>recommend reading product disclosure documents before deciding to invest.