1
00:00:05,120 --> 00:00:09,200
Speaker 1: Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene along

2
00:00:09,240 --> 00:00:13,200
Speaker 1: with Jonathan Ferrell and Lisa Brownwitz Jailey. We bring you

3
00:00:13,320 --> 00:00:18,600
Speaker 1: insight from the best and economics, finance, investment, and international relations.

4
00:00:18,960 --> 00:00:23,560
Speaker 1: Find Bloomberg Surveillance on Apple Podcast, sun Cloud, Bloomberg dot

5
00:00:23,560 --> 00:00:28,600
Speaker 1: Com and of course on the Bloomberg terminal. Right now,

6
00:00:28,680 --> 00:00:32,680
Speaker 1: we are thrilled to bring you, without question, this nation's

7
00:00:32,760 --> 00:00:37,720
Speaker 1: expert on Amazon, Bradstone is written on Jeff Bezos. Bradstone

8
00:00:37,760 --> 00:00:41,680
Speaker 1: knows the story better than anyone I know. Brad your

9
00:00:41,720 --> 00:00:45,600
Speaker 1: thoughts on Mr Bezos into space frame his path in

10
00:00:45,720 --> 00:00:50,280
Speaker 1: his life to this moment. Yeah, Hey, Tom, you know

11
00:00:50,360 --> 00:00:53,000
Speaker 1: this is a story that started probably forty years ago

12
00:00:53,040 --> 00:00:56,160
Speaker 1: when he spent his summers with his grandparents and their

13
00:00:56,200 --> 00:00:59,040
Speaker 1: ranch in South Texas, and his grandfather had worked on

14
00:00:59,040 --> 00:01:02,000
Speaker 1: the space program. Bezos got the space bug watching the

15
00:01:02,040 --> 00:01:07,440
Speaker 1: Apollo Moon landings. He gave his his UH speech at

16
00:01:07,560 --> 00:01:10,520
Speaker 1: his at his high school. He was a valedictorian about

17
00:01:10,560 --> 00:01:13,880
Speaker 1: space travel, and really he's he's been consistent with the vision.

18
00:01:13,959 --> 00:01:16,800
Speaker 1: That speech was all about opening up the space frontier,

19
00:01:17,200 --> 00:01:19,960
Speaker 1: having humans living and working in space, and today is

20
00:01:20,000 --> 00:01:22,480
Speaker 1: the first step on that journey. It's been a long path.

21
00:01:22,560 --> 00:01:25,320
Speaker 1: He founded Blue Origin in two thousand. The company hasn't

22
00:01:25,319 --> 00:01:27,200
Speaker 1: had a lot of success to show for it, but

23
00:01:27,400 --> 00:01:30,280
Speaker 1: as you mentioned, they're working on orbital rockets and moon landers,

24
00:01:30,560 --> 00:01:33,520
Speaker 1: often in competition with SpaceX. But today, even though it's

25
00:01:33,520 --> 00:01:36,760
Speaker 1: a more modest suborbital flight, it's an important step for

26
00:01:36,760 --> 00:01:38,920
Speaker 1: Bezos and for Blue Origin brand have tried to be

27
00:01:38,959 --> 00:01:41,600
Speaker 1: transparent and balanced about the moment we're in right now

28
00:01:41,640 --> 00:01:44,959
Speaker 1: because myself, Tom, others get a lot of criticism for

29
00:01:45,040 --> 00:01:46,959
Speaker 1: countering an event like this. This is an event that

30
00:01:47,080 --> 00:01:50,200
Speaker 1: is very, very divisive. Jeff Bezos has taken a lot

31
00:01:50,240 --> 00:01:53,760
Speaker 1: of criticism about it. How has he confronted that issue

32
00:01:54,000 --> 00:01:58,560
Speaker 1: as he makes these kind of steps forward. He's ignored it.

33
00:01:58,840 --> 00:02:02,080
Speaker 1: I mean, he's he He's someone who probably has pretty

34
00:02:02,120 --> 00:02:05,080
Speaker 1: thick skin over the years, being criticized for so many

35
00:02:05,120 --> 00:02:09,280
Speaker 1: things at Amazon, some quite justifiably. But as Emily mentioned earlier,

36
00:02:09,320 --> 00:02:12,240
Speaker 1: there's kind of a palpable excitement here in in in

37
00:02:12,240 --> 00:02:16,120
Speaker 1: West Texas. Right now, the criticism seems kind of distant. Um.

38
00:02:15,960 --> 00:02:18,080
Speaker 1: I'm sure we'll return to it in the press conference

39
00:02:18,160 --> 00:02:21,000
Speaker 1: later today, but Bezos is just consistent. He's got this

40
00:02:21,080 --> 00:02:23,680
Speaker 1: long term vision. He kind of knows that not everyone's

41
00:02:23,720 --> 00:02:26,120
Speaker 1: going to buy into it. But you know he's been

42
00:02:26,200 --> 00:02:29,200
Speaker 1: right about these things before, particularly with Amazon, not saying

43
00:02:29,200 --> 00:02:31,840
Speaker 1: he's right here. It seems kind of wacky, this idea

44
00:02:31,840 --> 00:02:34,560
Speaker 1: of millions of humans working and living in space one day,

45
00:02:34,880 --> 00:02:38,400
Speaker 1: generations from now. But you know he that's he believes

46
00:02:38,400 --> 00:02:40,959
Speaker 1: in it. It's his Money's got two hundred billion dollars

47
00:02:41,040 --> 00:02:42,639
Speaker 1: and this is what he wants to spend his money

48
00:02:42,680 --> 00:02:45,480
Speaker 1: in his time doing now. Brad Blue Origin actually has

49
00:02:45,560 --> 00:02:49,240
Speaker 1: two astronauts on staff, and the understanding among employees was

50
00:02:49,280 --> 00:02:52,640
Speaker 1: that those astronauts would be the first to fly on

51
00:02:52,800 --> 00:02:56,400
Speaker 1: the New Shepherd. Instead, Jeff Bezos seemed to surprise many

52
00:02:56,440 --> 00:02:59,080
Speaker 1: people saying it would be him. In all your years

53
00:02:59,080 --> 00:03:01,760
Speaker 1: reporting on Amazon, in all your years reporting on Bezos,

54
00:03:01,800 --> 00:03:04,520
Speaker 1: did you ever think he'd be the first person to

55
00:03:04,680 --> 00:03:07,359
Speaker 1: ride on his own rocket. Yeah, definitely not. I don't

56
00:03:07,360 --> 00:03:10,120
Speaker 1: think a lot of Blue engineers and executives thought that

57
00:03:10,200 --> 00:03:13,400
Speaker 1: he would be going first. As you say to NaSTA X,

58
00:03:13,520 --> 00:03:16,320
Speaker 1: NASA astronauts are on staff. The idea was that they

59
00:03:16,320 --> 00:03:19,919
Speaker 1: would go first and kind of test the customer experience.

60
00:03:20,080 --> 00:03:22,040
Speaker 1: But in some ways that it's it's consistent. I mean,

61
00:03:22,040 --> 00:03:25,600
Speaker 1: Bezos is all about bold moves. He uses the word adventure,

62
00:03:25,760 --> 00:03:29,400
Speaker 1: swashbuckling adventure, and right, this is the greatest adventure that

63
00:03:29,440 --> 00:03:31,680
Speaker 1: there is. And he's sending a signal here to his

64
00:03:31,720 --> 00:03:34,680
Speaker 1: company into the world that he believes in the spacecraft,

65
00:03:34,720 --> 00:03:36,760
Speaker 1: he believes in the mission, and he's willing to put

66
00:03:36,840 --> 00:03:39,400
Speaker 1: himself at some small amount of risk to go see

67
00:03:39,400 --> 00:03:41,880
Speaker 1: it to fruition. Now Bezos is doing this just a

68
00:03:41,920 --> 00:03:44,480
Speaker 1: couple of weeks after stepping down as CEO of Amazon.

69
00:03:44,600 --> 00:03:46,680
Speaker 1: He has said he could have done this as a

70
00:03:46,760 --> 00:03:50,200
Speaker 1: CEO of Amazon. But but do you believe that? Do

71
00:03:50,240 --> 00:03:51,680
Speaker 1: you buy that? Or do you think this was some

72
00:03:51,880 --> 00:03:54,960
Speaker 1: part of some sort of coordinated timeline. He wanted to

73
00:03:54,960 --> 00:03:57,520
Speaker 1: do this, but not while he was CEO. I mean,

74
00:03:57,520 --> 00:04:00,640
Speaker 1: it does appear orchestrated, right that he would have announced

75
00:04:00,640 --> 00:04:03,520
Speaker 1: his resignation s CEO back in what was a late

76
00:04:03,600 --> 00:04:06,520
Speaker 1: January and then stepping aside in early July, and now

77
00:04:06,560 --> 00:04:08,640
Speaker 1: a few weeks later going to space. I mean, I

78
00:04:08,640 --> 00:04:11,640
Speaker 1: think if Blue Origin had ready New Shepherd two years

79
00:04:11,640 --> 00:04:14,880
Speaker 1: ago when I was supposed to launch the fiftieth anniversary

80
00:04:14,880 --> 00:04:17,880
Speaker 1: of the Apollo eleven moon landing. He probably would have

81
00:04:18,000 --> 00:04:22,080
Speaker 1: gone as CEO. But like, it's just neater now, it's cleaner.

82
00:04:22,200 --> 00:04:25,800
Speaker 1: You're not you don't have Amazon investors maybe worrying as much. So, No,

83
00:04:25,920 --> 00:04:28,039
Speaker 1: I don't think it's an accident. We have fifteen minutes

84
00:04:28,040 --> 00:04:31,240
Speaker 1: away from the first human flight for Blue Origins New Shepherd.

85
00:04:31,279 --> 00:04:33,440
Speaker 1: You can hear a round of applause from the headquarters

86
00:04:33,680 --> 00:04:36,640
Speaker 1: of Blue Origin. You can see Jeff Bezos just inside

87
00:04:36,680 --> 00:04:39,520
Speaker 1: the capsule. The final checks taken place, Tom, They're secured

88
00:04:39,560 --> 00:04:42,279
Speaker 1: and their harnesses. We've had the final communications, the hatches

89
00:04:42,360 --> 00:04:45,960
Speaker 1: closed as team on his fifteen. Yeah again, team ONUS fifteen.

90
00:04:46,040 --> 00:04:49,480
Speaker 1: And you wonder about the sequencing uh, the sequencing year

91
00:04:49,640 --> 00:04:53,679
Speaker 1: as well. What's interesting with the modern technology of liquid

92
00:04:53,720 --> 00:04:59,000
Speaker 1: oxygen and liquid hydrogen, John, It is a shockingly simple system.

93
00:04:59,040 --> 00:05:04,040
Speaker 1: It is radally simpler, cleaner, and better than what we

94
00:05:04,040 --> 00:05:06,960
Speaker 1: were used two years ago. Remember the Saturn's they'd start

95
00:05:07,040 --> 00:05:09,880
Speaker 1: flaming up ages before they take off. This is a

96
00:05:09,920 --> 00:05:13,240
Speaker 1: piece of cake with a much, much less heavy payload

97
00:05:18,440 --> 00:05:22,400
Speaker 1: with US now. Jennakavandi Sierra Space executive vice president, and

98
00:05:22,480 --> 00:05:26,640
Speaker 1: she is a former NASA astronaut as well. Will these

99
00:05:26,680 --> 00:05:33,760
Speaker 1: be astronauts. Astronaut Cavandi, Well, technically speaking, once you passed

100
00:05:33,800 --> 00:05:36,960
Speaker 1: that sixty two mile mark, you will be in space

101
00:05:37,080 --> 00:05:40,200
Speaker 1: and therefore have traveled in space, which is the definition

102
00:05:40,240 --> 00:05:44,000
Speaker 1: of an astronaut, not necessarily a career astronaut, but an

103
00:05:44,000 --> 00:05:49,080
Speaker 1: astronaut Nolla. What is so interesting year is the simplicity

104
00:05:49,279 --> 00:05:55,400
Speaker 1: of the systems identify this experience versus our stereotype of

105
00:05:55,480 --> 00:05:57,760
Speaker 1: Ron Howard's you know the right stuff and the rest

106
00:05:57,800 --> 00:06:00,679
Speaker 1: of it a Pottle thirteen, all the back and forth

107
00:06:00,920 --> 00:06:04,560
Speaker 1: of hundreds and hundreds of people. How do you experience

108
00:06:04,720 --> 00:06:10,799
Speaker 1: this simplicity? Mr Bezos is invented. I think it's very elegant.

109
00:06:10,880 --> 00:06:13,280
Speaker 1: You know, the more we learn, the more we learn

110
00:06:13,360 --> 00:06:15,560
Speaker 1: what we need and what we don't need. Um. He

111
00:06:15,600 --> 00:06:19,200
Speaker 1: has gone a very simplistic route. I think it's a

112
00:06:19,279 --> 00:06:22,839
Speaker 1: wonderful achievement for someone who's essentially done this on his

113
00:06:22,920 --> 00:06:25,120
Speaker 1: own because of his own desire to go on space,

114
00:06:25,160 --> 00:06:28,680
Speaker 1: his own desire to see the Earth from that viewpoint. Uh.

115
00:06:28,720 --> 00:06:31,559
Speaker 1: And I think he will continue to do great things,

116
00:06:31,600 --> 00:06:35,039
Speaker 1: bigger and better things, just like NASA did through the

117
00:06:35,160 --> 00:06:38,599
Speaker 1: generation and the evolution of the rockets that were that

118
00:06:38,680 --> 00:06:41,240
Speaker 1: came before this one, Jennet, I understand we will have

119
00:06:41,320 --> 00:06:43,760
Speaker 1: the oldest and the youngest, both the oldest and the

120
00:06:43,800 --> 00:06:46,440
Speaker 1: youngest ever into space. Can you walk me through the

121
00:06:46,480 --> 00:06:49,960
Speaker 1: degree of training that these particular astronauts to be have

122
00:06:50,080 --> 00:06:53,120
Speaker 1: experienced versus what would have been experienced ten twenty years

123
00:06:53,120 --> 00:06:57,960
Speaker 1: ago for similar mission. Probably not all that different. I mean,

124
00:06:58,040 --> 00:06:59,920
Speaker 1: you have your space dot that you have to learn

125
00:07:00,000 --> 00:07:03,080
Speaker 1: how to operate if there are any emergencies. You have

126
00:07:03,279 --> 00:07:06,600
Speaker 1: those kinds of equipment that you have to learn to do.

127
00:07:06,760 --> 00:07:10,040
Speaker 1: An e grows from when you go up to the

128
00:07:10,040 --> 00:07:14,400
Speaker 1: space you have to unbuckle and then blow it around

129
00:07:14,400 --> 00:07:16,640
Speaker 1: without kicking each other in the head. Then you have

130
00:07:16,720 --> 00:07:18,880
Speaker 1: to get back in your seat, which is probably one

131
00:07:18,920 --> 00:07:21,400
Speaker 1: of the more trying things to do, and since you

132
00:07:21,440 --> 00:07:23,880
Speaker 1: will only be there for a few minutes, and then

133
00:07:24,000 --> 00:07:26,320
Speaker 1: get yourself in a spact position so that you can

134
00:07:26,360 --> 00:07:29,360
Speaker 1: come back down on land without hurting anyone so uh.

135
00:07:29,440 --> 00:07:32,320
Speaker 1: And then probably an emergency egress out of the castle

136
00:07:32,400 --> 00:07:36,040
Speaker 1: once landing. Uh, once they have landed. So those kinds

137
00:07:36,040 --> 00:07:38,800
Speaker 1: of things are what you practice. UM. Just in case

138
00:07:38,880 --> 00:07:41,040
Speaker 1: something you know somewhere we're not there or something where

139
00:07:41,080 --> 00:07:43,280
Speaker 1: to go wrong, you can you can help yourself get

140
00:07:43,280 --> 00:07:45,680
Speaker 1: out of the vehicle. Johnny, just experiencing a brief hold

141
00:07:45,680 --> 00:07:48,280
Speaker 1: here at team on as fifteen. How typical things like

142
00:07:48,360 --> 00:07:52,120
Speaker 1: this to have a brief hold fifteen minutes out? So

143
00:07:52,320 --> 00:07:54,560
Speaker 1: very very typical. I don't think there was ever a

144
00:07:54,600 --> 00:07:56,640
Speaker 1: spaceflight that I was on that didn't have a hole

145
00:07:57,000 --> 00:08:00,440
Speaker 1: at some point during the countdown. Uh, sometimes a built in,

146
00:08:00,560 --> 00:08:04,760
Speaker 1: and sometimes they're unexpected. Um. It does kind of, you know,

147
00:08:05,160 --> 00:08:08,200
Speaker 1: raise the tension inside the cockpit because you're excited and

148
00:08:08,720 --> 00:08:10,920
Speaker 1: you want to go, and and there may be a

149
00:08:10,960 --> 00:08:15,120
Speaker 1: delay and but it is. Um, it doesn't matter and

150
00:08:15,200 --> 00:08:19,600
Speaker 1: the end, whenever you fly, it's all as to the commnity,

151
00:08:19,640 --> 00:08:21,800
Speaker 1: I've got to get in a geek questionnaire because it's

152
00:08:21,800 --> 00:08:25,040
Speaker 1: something we have not talked about as we've prepared for

153
00:08:25,080 --> 00:08:29,080
Speaker 1: this launch today. Your PhD at Washington is an analytical

154
00:08:29,160 --> 00:08:34,680
Speaker 1: chemistry and in materials science. How original are the materials

155
00:08:34,720 --> 00:08:39,600
Speaker 1: of this Blue Origin rocket and capsule versus our stereotypes

156
00:08:40,000 --> 00:08:44,280
Speaker 1: sitting in the Smithsonian Air and Space Museum. I mean,

157
00:08:44,320 --> 00:08:48,640
Speaker 1: I think they're all relatively similar. Every evolution, like I

158
00:08:48,720 --> 00:08:51,320
Speaker 1: mentioned earlier, you try to learn something new, use a

159
00:08:51,400 --> 00:08:57,120
Speaker 1: better material, a better fuel less toxic fuels, less toxic materials.

160
00:08:57,760 --> 00:09:00,520
Speaker 1: As as you well know, Jeff as all about the

161
00:09:00,640 --> 00:09:03,800
Speaker 1: environment and keeping the planet healthy and making it a

162
00:09:03,840 --> 00:09:09,200
Speaker 1: sacred place in a and longevity of the Earth is

163
00:09:09,280 --> 00:09:12,240
Speaker 1: really paramount in his mind, so he wants to protect there.

164
00:09:12,320 --> 00:09:14,760
Speaker 1: So I'm sure he's gone to every extent to try

165
00:09:14,840 --> 00:09:19,240
Speaker 1: to use the least toxic materials possible. For audience worldwide

166
00:09:19,240 --> 00:09:21,560
Speaker 1: on Bloomberg TV and radio and for our audience joining

167
00:09:21,600 --> 00:09:23,520
Speaker 1: us over on Blinberg Quick Take. We've been on hold

168
00:09:23,520 --> 00:09:26,559
Speaker 1: now for a little more than six minutes term a

169
00:09:26,720 --> 00:09:29,880
Speaker 1: Team minus fifteen, just a brief hold that's lasted about

170
00:09:30,160 --> 00:09:33,080
Speaker 1: six minutes. As we are White Blue Origins first human

171
00:09:33,160 --> 00:09:36,400
Speaker 1: flight six minutes. We've been on hold at Team Honus fifteen.

172
00:09:36,440 --> 00:09:39,720
Speaker 1: So we'll see. We'll have to see where this goes.

173
00:09:39,840 --> 00:09:43,680
Speaker 1: Is astronaut tells us this is not unusual. Jennet Convandi,

174
00:09:43,960 --> 00:09:46,040
Speaker 1: I've got to talk about the fresh air of your

175
00:09:46,120 --> 00:09:49,400
Speaker 1: Missouri coming out of Carthage there in the University of

176
00:09:50,520 --> 00:09:54,200
Speaker 1: Missouri and really funk to the south in Oklahoma. What

177
00:09:54,360 --> 00:09:58,280
Speaker 1: is it about the Midwest aviation heritage that puts people

178
00:09:58,320 --> 00:10:02,200
Speaker 1: like you into space? You know, I thought about that

179
00:10:02,280 --> 00:10:05,439
Speaker 1: a lot. There are a lot of Midwesterners that love

180
00:10:05,480 --> 00:10:07,240
Speaker 1: to go to space. I don't know. I think in

181
00:10:07,360 --> 00:10:10,280
Speaker 1: part for me, at least, it was seeing the night

182
00:10:10,360 --> 00:10:13,880
Speaker 1: sky from the Midwest. It's very beautiful. You can see

183
00:10:13,920 --> 00:10:16,840
Speaker 1: all the stars, you can see the Milky Way, and

184
00:10:16,920 --> 00:10:20,040
Speaker 1: it's just so majestic when you look at space from

185
00:10:20,160 --> 00:10:22,880
Speaker 1: that vantage point. And I know from a very young

186
00:10:22,960 --> 00:10:24,920
Speaker 1: age I would tell my dad that I wanted to

187
00:10:24,960 --> 00:10:27,520
Speaker 1: go up there and see what would be like to

188
00:10:27,559 --> 00:10:29,840
Speaker 1: be in space and look back at the Earth. So

189
00:10:29,960 --> 00:10:32,520
Speaker 1: maybe it's that, And maybe it's just that, you know,

190
00:10:32,559 --> 00:10:35,319
Speaker 1: there's not the other distractions that you have in a

191
00:10:35,920 --> 00:10:39,320
Speaker 1: a more urban life. Um. You know, you have time

192
00:10:39,320 --> 00:10:41,080
Speaker 1: to dream, you have time to look out there, you

193
00:10:41,120 --> 00:10:44,400
Speaker 1: have time to think about exploring. So maybe a combination

194
00:10:44,440 --> 00:10:47,200
Speaker 1: of all those things is it's what inspires as was

195
00:10:47,440 --> 00:10:51,600
Speaker 1: Midwesterners and Dr Cavandy, thank you so much, greatly appreciate it.

196
00:10:51,640 --> 00:10:55,040
Speaker 1: With cr Space or Executive Vice President of course NASA

197
00:10:55,120 --> 00:11:05,240
Speaker 1: astronaut and former director of NASA's Glenn Research Center, we

198
00:11:05,320 --> 00:11:09,920
Speaker 1: continue with one final discussion here on our moment in space,

199
00:11:10,040 --> 00:11:13,080
Speaker 1: and that is the engineering of our many space programs.

200
00:11:13,120 --> 00:11:16,240
Speaker 1: Daniel wood is expert at this director of Space Enabled

201
00:11:16,280 --> 00:11:19,840
Speaker 1: Research Group at m I T Media Lab, who dovetails

202
00:11:20,200 --> 00:11:25,160
Speaker 1: a lot of social efforts and social policy into grunt engineering.

203
00:11:25,160 --> 00:11:28,840
Speaker 1: And I say that Danielle with immense, immense respect. There's

204
00:11:28,880 --> 00:11:33,080
Speaker 1: that See Danielle in Apollo thirteen where they're gonna die

205
00:11:33,800 --> 00:11:36,840
Speaker 1: and the three engineers are in mission control and they

206
00:11:36,880 --> 00:11:40,520
Speaker 1: got the canister and they're gonna purify the oxygen or

207
00:11:40,559 --> 00:11:43,520
Speaker 1: the astronauts are gonna die and they all pull out

208
00:11:43,520 --> 00:11:47,800
Speaker 1: and sink their Coo Flanasser slide rules. We are so

209
00:11:47,880 --> 00:11:52,120
Speaker 1: far removed from the slide rules of a busted Apollo mission.

210
00:11:52,559 --> 00:11:56,400
Speaker 1: What is the technology forward that we will see from

211
00:11:56,400 --> 00:12:01,840
Speaker 1: this private enterprise. It's wonderful to celebrate today. I'm so

212
00:12:01,920 --> 00:12:05,240
Speaker 1: happy for Wali Funk and for somebody like her who's

213
00:12:05,400 --> 00:12:07,880
Speaker 1: had too long road to this road to space. And

214
00:12:07,920 --> 00:12:10,520
Speaker 1: we can think about the technology by asking, you know,

215
00:12:10,679 --> 00:12:13,440
Speaker 1: what has been the road for all the companies. I

216
00:12:13,480 --> 00:12:16,839
Speaker 1: was in college watching the Ansari X Prize. I want

217
00:12:16,840 --> 00:12:19,400
Speaker 1: to appreciate Anisia and Sary who helped fund some of

218
00:12:19,440 --> 00:12:23,080
Speaker 1: the early investments by private companies trying to demonstrate the

219
00:12:23,080 --> 00:12:26,480
Speaker 1: ability to put a human into space. There's Abordall mission

220
00:12:26,800 --> 00:12:29,360
Speaker 1: several times in a row, and we're seeing today with

221
00:12:29,440 --> 00:12:32,800
Speaker 1: multiple launches by private companies. Is part of this long journey.

222
00:12:33,080 --> 00:12:36,760
Speaker 1: Has also been a great coordination between government and private sector.

223
00:12:37,080 --> 00:12:39,280
Speaker 1: I used to work for NASA, and NASA has within

224
00:12:39,320 --> 00:12:43,080
Speaker 1: its congressional mandate something called the Space Act Agreement capability,

225
00:12:43,200 --> 00:12:45,959
Speaker 1: meaning they can make agreement with organizations that are private

226
00:12:46,000 --> 00:12:50,800
Speaker 1: sector organizations to share engineering knowledge and experience on space flight. Professor,

227
00:12:50,840 --> 00:12:53,760
Speaker 1: Would you were a Kennedy Center Canna, I'm gonna. I'm sorry,

228
00:12:53,760 --> 00:12:56,760
Speaker 1: it's Cape Canaveral, professor, Just so you know, for some

229
00:12:56,840 --> 00:12:59,000
Speaker 1: of us that are of a certain age, you were

230
00:12:59,040 --> 00:13:02,680
Speaker 1: an intern air and I'm sure in your Orlando and

231
00:13:02,720 --> 00:13:06,360
Speaker 1: your Central Florida you were grilled. Why are we doing this?

232
00:13:06,880 --> 00:13:10,400
Speaker 1: Explain now? Why are we doing this? In two thousand,

233
00:13:11,840 --> 00:13:15,440
Speaker 1: everyone on Earth is benefiting from the investments that governments

234
00:13:15,480 --> 00:13:18,160
Speaker 1: and the private sector are making in space. I travel

235
00:13:18,200 --> 00:13:20,880
Speaker 1: all over the world and I engage with leaders of

236
00:13:20,880 --> 00:13:25,680
Speaker 1: countries in Africa, Latin America, the Caribbean, Southeast Asia, countries

237
00:13:25,720 --> 00:13:29,360
Speaker 1: on every continent are investing in space infrastructure and looking

238
00:13:29,400 --> 00:13:31,480
Speaker 1: for ways for private companies to play a role in

239
00:13:31,480 --> 00:13:34,840
Speaker 1: the space ecosystem because phrase brings us many benefits through

240
00:13:34,840 --> 00:13:38,960
Speaker 1: observing the environment, understanding responding to climate change, managing our

241
00:13:39,000 --> 00:13:43,280
Speaker 1: fragile coastlines, and also thinking about providing services. But even

242
00:13:43,440 --> 00:13:48,000
Speaker 1: human spaceflight and micro gravity research helps us transfer benefits

243
00:13:48,000 --> 00:13:50,920
Speaker 1: from space back to Earth. We understand better how to

244
00:13:51,040 --> 00:13:54,320
Speaker 1: recycle water, how to recycle air, and make ecosystems that

245
00:13:54,320 --> 00:13:56,600
Speaker 1: are clean, whether they are artificial, but also on Earth.

246
00:13:56,880 --> 00:13:59,880
Speaker 1: And we also understand better how our bodies and plants

247
00:13:59,880 --> 00:14:02,840
Speaker 1: and animals respond in an environment like a microgravity which

248
00:14:02,840 --> 00:14:06,120
Speaker 1: explains the fundamental physics better. There's also the inspiration side.

249
00:14:06,480 --> 00:14:08,120
Speaker 1: I am running a program at a m I T

250
00:14:08,240 --> 00:14:11,360
Speaker 1: called Zero Robotics, and we're inviting middle school students from

251
00:14:11,400 --> 00:14:14,240
Speaker 1: around the country to learn about space robotics and how

252
00:14:14,280 --> 00:14:16,240
Speaker 1: to code. And one day we hope to do this

253
00:14:16,400 --> 00:14:18,880
Speaker 1: with the collaboration of the space station and expose them

254
00:14:19,160 --> 00:14:20,720
Speaker 1: to the space stations has be done in four in

255
00:14:20,760 --> 00:14:23,240
Speaker 1: the past, and so these opportunities inspire the next generation

256
00:14:23,240 --> 00:14:26,080
Speaker 1: of leaders as well. The great fear here is that

257
00:14:26,120 --> 00:14:29,200
Speaker 1: will be a success for the elites. As you well know,

258
00:14:29,440 --> 00:14:33,920
Speaker 1: we have two America's. How do we translate technological innovation,

259
00:14:34,320 --> 00:14:37,600
Speaker 1: how do we translate as Bryn Jolson and McAfee talk

260
00:14:37,680 --> 00:14:41,080
Speaker 1: about the race against the machine, how do we translate

261
00:14:41,160 --> 00:14:44,840
Speaker 1: this technology over to the have nots, the technological have

262
00:14:45,040 --> 00:14:48,840
Speaker 1: nots of America. I spent a lot of my time

263
00:14:48,880 --> 00:14:51,480
Speaker 1: thinking about how we can do engineering design in a

264
00:14:51,520 --> 00:14:56,800
Speaker 1: way that's equitable, advances environmental sustainability and economic justice. This

265
00:14:56,880 --> 00:14:59,960
Speaker 1: means first asking who's involved, ensuring that we have increased

266
00:15:00,040 --> 00:15:03,200
Speaker 1: diversity and access to technology. It also means designing these

267
00:15:03,200 --> 00:15:05,720
Speaker 1: space systems in a way that directly serves the needs

268
00:15:05,720 --> 00:15:09,000
Speaker 1: of those who experienced environmental injustice or long term discrimination.

269
00:15:09,320 --> 00:15:11,880
Speaker 1: It also means listening to groups like indigenous communities that

270
00:15:12,000 --> 00:15:14,800
Speaker 1: have a concerns cultural questions about what humans do in space,

271
00:15:14,840 --> 00:15:17,200
Speaker 1: for example, thinking of the moon as a sacred place.

272
00:15:17,440 --> 00:15:19,800
Speaker 1: There's a lot of ways we can use space technology

273
00:15:20,040 --> 00:15:22,920
Speaker 1: to write services like disaster response, for example. And we

274
00:15:22,960 --> 00:15:25,720
Speaker 1: can also then listen to those who usually don't have

275
00:15:25,840 --> 00:15:28,080
Speaker 1: a strong chance to give their view on it what

276
00:15:28,200 --> 00:15:29,840
Speaker 1: we do in space, because we're about to make some

277
00:15:29,960 --> 00:15:32,320
Speaker 1: key decisions as a human race and how we treat

278
00:15:32,360 --> 00:15:34,560
Speaker 1: the space environment, and I think we need more voices

279
00:15:34,600 --> 00:15:36,880
Speaker 1: involved in this going forward. Daniel, just a final word

280
00:15:36,880 --> 00:15:39,520
Speaker 1: from you. You mentioned the public private partnerships, and I

281
00:15:39,560 --> 00:15:42,040
Speaker 1: think it's spot on to point that out. But for

282
00:15:42,240 --> 00:15:45,120
Speaker 1: many of these efforts, they're increasingly privatized and the gangs

283
00:15:45,160 --> 00:15:47,880
Speaker 1: will be shared with the shareholders, and I wonder your

284
00:15:47,880 --> 00:15:49,920
Speaker 1: thoughts on that as we move away from strictly a

285
00:15:50,000 --> 00:15:54,840
Speaker 1: government effort towards something much more highly privatized. I think

286
00:15:54,840 --> 00:15:58,120
Speaker 1: it's so important that we continue to see government infrastructure

287
00:15:58,160 --> 00:16:02,920
Speaker 1: allowing services like research opportunity for universities like UH internationally

288
00:16:02,960 --> 00:16:06,040
Speaker 1: shared climate data that's important for everyone around the world.

289
00:16:06,120 --> 00:16:09,480
Speaker 1: I hope that that becomes a private sorry public service

290
00:16:09,520 --> 00:16:12,080
Speaker 1: that continues for years to come. There will also be

291
00:16:12,400 --> 00:16:15,160
Speaker 1: private activities that kind of build on the government infrastructure.

292
00:16:15,360 --> 00:16:17,640
Speaker 1: I think it remains to be seen whether that's going

293
00:16:17,680 --> 00:16:20,000
Speaker 1: to be only open to the elite. It is possible

294
00:16:20,000 --> 00:16:22,360
Speaker 1: for private companies to consider how they can have business

295
00:16:22,400 --> 00:16:26,520
Speaker 1: models that provide further openness to those who have less

296
00:16:26,520 --> 00:16:28,720
Speaker 1: access to lessibility to pay. This is a choice that

297
00:16:28,720 --> 00:16:30,280
Speaker 1: they need to make, and I hope they do make it.

298
00:16:30,480 --> 00:16:32,560
Speaker 1: Professor Wood, thank you so much for joining us for

299
00:16:32,640 --> 00:16:40,800
Speaker 1: the m I T Media Outlab. Daniel Wood, Chad Anderson

300
00:16:40,800 --> 00:16:42,640
Speaker 1: where this was a final thought here. He has been

301
00:16:42,640 --> 00:16:46,720
Speaker 1: more than patient Space Capitals managing partner of the dovetail

302
00:16:46,800 --> 00:16:49,800
Speaker 1: of all of this innovation, the NASA that we used

303
00:16:49,840 --> 00:16:52,560
Speaker 1: to know and maybe the NASA that's still there with

304
00:16:52,760 --> 00:16:55,880
Speaker 1: where we're moving forward. And you know, we've talked about

305
00:16:55,920 --> 00:16:58,480
Speaker 1: the next steps of these people. But to John's point,

306
00:16:59,040 --> 00:17:04,200
Speaker 1: does private enterprise and private competition get in the way

307
00:17:04,560 --> 00:17:09,359
Speaker 1: of space success? Absolutely not, it's driving it forward. We

308
00:17:09,359 --> 00:17:11,119
Speaker 1: started off in a place where we had never been

309
00:17:11,160 --> 00:17:13,600
Speaker 1: to space. Then we launched a satellite, then we launched

310
00:17:13,640 --> 00:17:15,119
Speaker 1: a human and then we landed on the Moon, and

311
00:17:15,160 --> 00:17:17,879
Speaker 1: we've been regressing ever since. And it's only thanks to

312
00:17:17,960 --> 00:17:22,200
Speaker 1: private efforts that we are now accelerating back into So

313
00:17:22,240 --> 00:17:24,920
Speaker 1: what does to think of this event today? I think

314
00:17:24,920 --> 00:17:26,920
Speaker 1: they think very highly of this event, and then they're

315
00:17:27,000 --> 00:17:29,880
Speaker 1: very happy to see this success again. They're benefiting from

316
00:17:29,920 --> 00:17:33,160
Speaker 1: this um. They are going to now be able to

317
00:17:33,520 --> 00:17:39,840
Speaker 1: rely on low cost innovative partners UM, leveraging reusability and

318
00:17:39,960 --> 00:17:42,720
Speaker 1: enabling them to do more with their limited budgets. I

319
00:17:42,760 --> 00:17:45,920
Speaker 1: mean this, this hits on a few different notes, one

320
00:17:46,040 --> 00:17:50,200
Speaker 1: the inspiration front um to the competition. It's driving innovation forward.

321
00:17:50,200 --> 00:17:52,640
Speaker 1: And three, we wouldn't be we wouldn't have the capability

322
00:17:52,640 --> 00:17:54,600
Speaker 1: that we have today without space technology. These guys in

323
00:17:54,640 --> 00:17:58,520
Speaker 1: Texas cowboy hats. Teach anybody at jp L anything. I'm serious,

324
00:17:58,640 --> 00:18:01,680
Speaker 1: I mean or it might not not the media and

325
00:18:01,840 --> 00:18:03,480
Speaker 1: M I T, but M I T or an X,

326
00:18:03,720 --> 00:18:06,359
Speaker 1: the legacy of Harold Atton and the rest of it.

327
00:18:06,440 --> 00:18:09,040
Speaker 1: Can they teach the pros anything? It's a great question

328
00:18:09,080 --> 00:18:12,920
Speaker 1: and one today, so you better go that D percent. Yes,

329
00:18:13,160 --> 00:18:15,800
Speaker 1: and they learn from each other. It's a symbiotic relationship.

330
00:18:15,880 --> 00:18:17,880
Speaker 1: So NASA has a lot of heritage and a lot

331
00:18:17,880 --> 00:18:20,520
Speaker 1: of great you know, embedded expertise. They've been there and

332
00:18:20,560 --> 00:18:23,080
Speaker 1: they've done that. The private sector is challenging a lot

333
00:18:23,080 --> 00:18:26,080
Speaker 1: of the embedded assumptions and doing things in new ways,

334
00:18:26,359 --> 00:18:29,600
Speaker 1: allowing them to do things more effectively and more cost effectively.

335
00:18:29,760 --> 00:18:33,440
Speaker 1: Chat just quickly investable opportunities. Right now, let's close right there?

336
00:18:33,960 --> 00:18:36,240
Speaker 1: Is this a single night and name opportunity? Say or

337
00:18:36,280 --> 00:18:38,080
Speaker 1: do you want to apply the industry as a whole.

338
00:18:38,640 --> 00:18:42,080
Speaker 1: We've gone from a very limited market ten years ago,

339
00:18:42,240 --> 00:18:45,040
Speaker 1: handful of defense contractors on one side and the government

340
00:18:45,040 --> 00:18:47,280
Speaker 1: on the other. There has now been two hundred billion

341
00:18:47,280 --> 00:18:50,800
Speaker 1: dollars invested in over fifteen hundred unique space companies over

342
00:18:50,800 --> 00:18:53,960
Speaker 1: the last ten years. This is a massive market opportunity.

343
00:18:54,200 --> 00:18:57,560
Speaker 1: UM cuts across the infrastructure of the distribution and the

344
00:18:57,600 --> 00:19:02,680
Speaker 1: applications of that satellite data UM in space technology stacks

345
00:19:02,680 --> 00:19:06,520
Speaker 1: such as GPS, geospatial intelligence and communications. This is a

346
00:19:06,560 --> 00:19:09,919
Speaker 1: massive market opportunity that we're just on the forefront of.

347
00:19:11,040 --> 00:19:13,240
Speaker 1: I love asking that question and saying and invest It's home.

348
00:19:13,320 --> 00:19:15,960
Speaker 1: Lean in, just lead in and give the pitch. Give

349
00:19:16,040 --> 00:19:17,680
Speaker 1: the pitch. Chat on us in there with the pitch.

350
00:19:17,960 --> 00:19:21,119
Speaker 1: Spice Capital Managing partner Chat. Thank you for being with

351
00:19:21,200 --> 00:19:23,280
Speaker 1: us through they lost couple of ask. This is the

352
00:19:23,280 --> 00:19:27,959
Speaker 1: Bloomberg Surveillance Podcast. Thanks for listening. Join us live weekdays

353
00:19:28,000 --> 00:19:31,479
Speaker 1: from seven to ten AMI Eastern on Bloomberg Radio and

354
00:19:31,600 --> 00:19:35,840
Speaker 1: on Bloomberg Television each day from six to nine am

355
00:19:35,920 --> 00:19:39,679
Speaker 1: for insight from the best in economics, finance, investment, and

356
00:19:39,800 --> 00:19:46,320
Speaker 1: international relations. And subscribe to the Surveillance Podcast on Apple podcast, SoundCloud,

357
00:19:46,480 --> 00:19:50,080
Speaker 1: Bloomberg dot com, and of course on the terminal. I'm

358
00:19:50,119 --> 00:19:52,800
Speaker 1: Tom Keene and this is Bloomberg