WEBVTT - Surveillance: Bezos Blasts Off Into Space

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<v Speaker 1>Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene along

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<v Speaker 1>with Jonathan Ferrell and Lisa Brownwitz Jailey. We bring you

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<v Speaker 1>insight from the best and economics, finance, investment, and international relations.

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<v Speaker 1>Find Bloomberg Surveillance on Apple Podcast, sun Cloud, Bloomberg dot

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<v Speaker 1>Com and of course on the Bloomberg terminal. Right now,

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<v Speaker 1>we are thrilled to bring you, without question, this nation's

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<v Speaker 1>expert on Amazon, Bradstone is written on Jeff Bezos. Bradstone

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<v Speaker 1>knows the story better than anyone I know. Brad your

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<v Speaker 1>thoughts on Mr Bezos into space frame his path in

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<v Speaker 1>his life to this moment. Yeah, Hey, Tom, you know

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<v Speaker 1>this is a story that started probably forty years ago

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<v Speaker 1>when he spent his summers with his grandparents and their

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<v Speaker 1>ranch in South Texas, and his grandfather had worked on

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<v Speaker 1>the space program. Bezos got the space bug watching the

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<v Speaker 1>Apollo Moon landings. He gave his his UH speech at

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<v Speaker 1>his at his high school. He was a valedictorian about

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<v Speaker 1>space travel, and really he's he's been consistent with the vision.

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<v Speaker 1>That speech was all about opening up the space frontier,

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<v Speaker 1>having humans living and working in space, and today is

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<v Speaker 1>the first step on that journey. It's been a long path.

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<v Speaker 1>He founded Blue Origin in two thousand. The company hasn't

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<v Speaker 1>had a lot of success to show for it, but

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<v Speaker 1>as you mentioned, they're working on orbital rockets and moon landers,

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<v Speaker 1>often in competition with SpaceX. But today, even though it's

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<v Speaker 1>a more modest suborbital flight, it's an important step for

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<v Speaker 1>Bezos and for Blue Origin brand have tried to be

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<v Speaker 1>transparent and balanced about the moment we're in right now

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<v Speaker 1>because myself, Tom, others get a lot of criticism for

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<v Speaker 1>countering an event like this. This is an event that

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<v Speaker 1>is very, very divisive. Jeff Bezos has taken a lot

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<v Speaker 1>of criticism about it. How has he confronted that issue

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<v Speaker 1>as he makes these kind of steps forward. He's ignored it.

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<v Speaker 1>I mean, he's he He's someone who probably has pretty

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<v Speaker 1>thick skin over the years, being criticized for so many

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<v Speaker 1>things at Amazon, some quite justifiably. But as Emily mentioned earlier,

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<v Speaker 1>there's kind of a palpable excitement here in in in

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<v Speaker 1>West Texas. Right now, the criticism seems kind of distant. Um.

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<v Speaker 1>I'm sure we'll return to it in the press conference

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<v Speaker 1>later today, but Bezos is just consistent. He's got this

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<v Speaker 1>long term vision. He kind of knows that not everyone's

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<v Speaker 1>going to buy into it. But you know he's been

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<v Speaker 1>right about these things before, particularly with Amazon, not saying

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<v Speaker 1>he's right here. It seems kind of wacky, this idea

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<v Speaker 1>of millions of humans working and living in space one day,

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<v Speaker 1>generations from now. But you know he that's he believes

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<v Speaker 1>in it. It's his Money's got two hundred billion dollars

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<v Speaker 1>and this is what he wants to spend his money

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<v Speaker 1>in his time doing now. Brad Blue Origin actually has

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<v Speaker 1>two astronauts on staff, and the understanding among employees was

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<v Speaker 1>that those astronauts would be the first to fly on

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<v Speaker 1>the New Shepherd. Instead, Jeff Bezos seemed to surprise many

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<v Speaker 1>people saying it would be him. In all your years

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<v Speaker 1>reporting on Amazon, in all your years reporting on Bezos,

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<v Speaker 1>did you ever think he'd be the first person to

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<v Speaker 1>ride on his own rocket. Yeah, definitely not. I don't

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<v Speaker 1>think a lot of Blue engineers and executives thought that

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<v Speaker 1>he would be going first. As you say to NaSTA X,

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<v Speaker 1>NASA astronauts are on staff. The idea was that they

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<v Speaker 1>would go first and kind of test the customer experience.

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<v Speaker 1>But in some ways that it's it's consistent. I mean,

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<v Speaker 1>Bezos is all about bold moves. He uses the word adventure,

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<v Speaker 1>swashbuckling adventure, and right, this is the greatest adventure that

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<v Speaker 1>there is. And he's sending a signal here to his

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<v Speaker 1>company into the world that he believes in the spacecraft,

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<v Speaker 1>he believes in the mission, and he's willing to put

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<v Speaker 1>himself at some small amount of risk to go see

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<v Speaker 1>it to fruition. Now Bezos is doing this just a

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<v Speaker 1>couple of weeks after stepping down as CEO of Amazon.

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<v Speaker 1>He has said he could have done this as a

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<v Speaker 1>CEO of Amazon. But but do you believe that? Do

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<v Speaker 1>you buy that? Or do you think this was some

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<v Speaker 1>part of some sort of coordinated timeline. He wanted to

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<v Speaker 1>do this, but not while he was CEO. I mean,

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<v Speaker 1>it does appear orchestrated, right that he would have announced

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<v Speaker 1>his resignation s CEO back in what was a late

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<v Speaker 1>January and then stepping aside in early July, and now

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<v Speaker 1>a few weeks later going to space. I mean, I

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<v Speaker 1>think if Blue Origin had ready New Shepherd two years

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<v Speaker 1>ago when I was supposed to launch the fiftieth anniversary

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<v Speaker 1>of the Apollo eleven moon landing. He probably would have

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<v Speaker 1>gone as CEO. But like, it's just neater now, it's cleaner.

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<v Speaker 1>You're not you don't have Amazon investors maybe worrying as much. So, No,

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<v Speaker 1>I don't think it's an accident. We have fifteen minutes

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<v Speaker 1>away from the first human flight for Blue Origins New Shepherd.

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<v Speaker 1>You can hear a round of applause from the headquarters

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<v Speaker 1>of Blue Origin. You can see Jeff Bezos just inside

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<v Speaker 1>the capsule. The final checks taken place, Tom, They're secured

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<v Speaker 1>and their harnesses. We've had the final communications, the hatches

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<v Speaker 1>closed as team on his fifteen. Yeah again, team ONUS fifteen.

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<v Speaker 1>And you wonder about the sequencing uh, the sequencing year

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<v Speaker 1>as well. What's interesting with the modern technology of liquid

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<v Speaker 1>oxygen and liquid hydrogen, John, It is a shockingly simple system.

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<v Speaker 1>It is radally simpler, cleaner, and better than what we

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<v Speaker 1>were used two years ago. Remember the Saturn's they'd start

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<v Speaker 1>flaming up ages before they take off. This is a

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<v Speaker 1>piece of cake with a much, much less heavy payload

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<v Speaker 1>with US now. Jennakavandi Sierra Space executive vice president, and

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<v Speaker 1>she is a former NASA astronaut as well. Will these

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<v Speaker 1>be astronauts. Astronaut Cavandi, Well, technically speaking, once you passed

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<v Speaker 1>that sixty two mile mark, you will be in space

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<v Speaker 1>and therefore have traveled in space, which is the definition

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<v Speaker 1>of an astronaut, not necessarily a career astronaut, but an

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<v Speaker 1>astronaut Nolla. What is so interesting year is the simplicity

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<v Speaker 1>of the systems identify this experience versus our stereotype of

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<v Speaker 1>Ron Howard's you know the right stuff and the rest

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<v Speaker 1>of it a Pottle thirteen, all the back and forth

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<v Speaker 1>of hundreds and hundreds of people. How do you experience

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<v Speaker 1>this simplicity? Mr Bezos is invented. I think it's very elegant.

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<v Speaker 1>You know, the more we learn, the more we learn

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<v Speaker 1>what we need and what we don't need. Um. He

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<v Speaker 1>has gone a very simplistic route. I think it's a

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<v Speaker 1>wonderful achievement for someone who's essentially done this on his

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<v Speaker 1>own because of his own desire to go on space,

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<v Speaker 1>his own desire to see the Earth from that viewpoint. Uh.

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<v Speaker 1>And I think he will continue to do great things,

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<v Speaker 1>bigger and better things, just like NASA did through the

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<v Speaker 1>generation and the evolution of the rockets that were that

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<v Speaker 1>came before this one, Jennet, I understand we will have

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<v Speaker 1>the oldest and the youngest, both the oldest and the

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<v Speaker 1>youngest ever into space. Can you walk me through the

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<v Speaker 1>degree of training that these particular astronauts to be have

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<v Speaker 1>experienced versus what would have been experienced ten twenty years

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<v Speaker 1>ago for similar mission. Probably not all that different. I mean,

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<v Speaker 1>you have your space dot that you have to learn

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<v Speaker 1>how to operate if there are any emergencies. You have

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<v Speaker 1>those kinds of equipment that you have to learn to do.

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<v Speaker 1>An e grows from when you go up to the

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<v Speaker 1>space you have to unbuckle and then blow it around

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<v Speaker 1>without kicking each other in the head. Then you have

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<v Speaker 1>to get back in your seat, which is probably one

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<v Speaker 1>of the more trying things to do, and since you

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<v Speaker 1>will only be there for a few minutes, and then

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<v Speaker 1>get yourself in a spact position so that you can

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<v Speaker 1>come back down on land without hurting anyone so uh.

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<v Speaker 1>And then probably an emergency egress out of the castle

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<v Speaker 1>once landing. Uh, once they have landed. So those kinds

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<v Speaker 1>of things are what you practice. UM. Just in case

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<v Speaker 1>something you know somewhere we're not there or something where

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<v Speaker 1>to go wrong, you can you can help yourself get

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<v Speaker 1>out of the vehicle. Johnny, just experiencing a brief hold

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<v Speaker 1>here at team on as fifteen. How typical things like

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<v Speaker 1>this to have a brief hold fifteen minutes out? So

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<v Speaker 1>very very typical. I don't think there was ever a

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<v Speaker 1>spaceflight that I was on that didn't have a hole

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<v Speaker 1>at some point during the countdown. Uh, sometimes a built in,

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<v Speaker 1>and sometimes they're unexpected. Um. It does kind of, you know,

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<v Speaker 1>raise the tension inside the cockpit because you're excited and

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<v Speaker 1>you want to go, and and there may be a

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<v Speaker 1>delay and but it is. Um, it doesn't matter and

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<v Speaker 1>the end, whenever you fly, it's all as to the commnity,

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<v Speaker 1>I've got to get in a geek questionnaire because it's

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<v Speaker 1>something we have not talked about as we've prepared for

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<v Speaker 1>this launch today. Your PhD at Washington is an analytical

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<v Speaker 1>chemistry and in materials science. How original are the materials

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<v Speaker 1>of this Blue Origin rocket and capsule versus our stereotypes

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<v Speaker 1>sitting in the Smithsonian Air and Space Museum. I mean,

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<v Speaker 1>I think they're all relatively similar. Every evolution, like I

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<v Speaker 1>mentioned earlier, you try to learn something new, use a

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<v Speaker 1>better material, a better fuel less toxic fuels, less toxic materials.

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<v Speaker 1>As as you well know, Jeff as all about the

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<v Speaker 1>environment and keeping the planet healthy and making it a

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<v Speaker 1>sacred place in a and longevity of the Earth is

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<v Speaker 1>really paramount in his mind, so he wants to protect there.

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<v Speaker 1>So I'm sure he's gone to every extent to try

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<v Speaker 1>to use the least toxic materials possible. For audience worldwide

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<v Speaker 1>on Bloomberg TV and radio and for our audience joining

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<v Speaker 1>us over on Blinberg Quick Take. We've been on hold

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<v Speaker 1>now for a little more than six minutes term a

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<v Speaker 1>Team minus fifteen, just a brief hold that's lasted about

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<v Speaker 1>six minutes. As we are White Blue Origins first human

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<v Speaker 1>flight six minutes. We've been on hold at Team Honus fifteen.

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<v Speaker 1>So we'll see. We'll have to see where this goes.

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<v Speaker 1>Is astronaut tells us this is not unusual. Jennet Convandi,

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<v Speaker 1>I've got to talk about the fresh air of your

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<v Speaker 1>Missouri coming out of Carthage there in the University of

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<v Speaker 1>Missouri and really funk to the south in Oklahoma. What

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<v Speaker 1>is it about the Midwest aviation heritage that puts people

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<v Speaker 1>like you into space? You know, I thought about that

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<v Speaker 1>a lot. There are a lot of Midwesterners that love

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<v Speaker 1>to go to space. I don't know. I think in

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<v Speaker 1>part for me, at least, it was seeing the night

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<v Speaker 1>sky from the Midwest. It's very beautiful. You can see

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<v Speaker 1>all the stars, you can see the Milky Way, and

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<v Speaker 1>it's just so majestic when you look at space from

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<v Speaker 1>that vantage point. And I know from a very young

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<v Speaker 1>age I would tell my dad that I wanted to

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<v Speaker 1>go up there and see what would be like to

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<v Speaker 1>be in space and look back at the Earth. So

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<v Speaker 1>maybe it's that, And maybe it's just that, you know,

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<v Speaker 1>there's not the other distractions that you have in a

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<v Speaker 1>a more urban life. Um. You know, you have time

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<v Speaker 1>to dream, you have time to look out there, you

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<v Speaker 1>have time to think about exploring. So maybe a combination

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<v Speaker 1>of all those things is it's what inspires as was

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<v Speaker 1>Midwesterners and Dr Cavandy, thank you so much, greatly appreciate it.

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<v Speaker 1>With cr Space or Executive Vice President of course NASA

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<v Speaker 1>astronaut and former director of NASA's Glenn Research Center, we

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<v Speaker 1>continue with one final discussion here on our moment in space,

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<v Speaker 1>and that is the engineering of our many space programs.

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<v Speaker 1>Daniel wood is expert at this director of Space Enabled

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<v Speaker 1>Research Group at m I T Media Lab, who dovetails

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<v Speaker 1>a lot of social efforts and social policy into grunt engineering.

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<v Speaker 1>And I say that Danielle with immense, immense respect. There's

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<v Speaker 1>that See Danielle in Apollo thirteen where they're gonna die

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<v Speaker 1>and the three engineers are in mission control and they

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<v Speaker 1>got the canister and they're gonna purify the oxygen or

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<v Speaker 1>the astronauts are gonna die and they all pull out

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<v Speaker 1>and sink their Coo Flanasser slide rules. We are so

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<v Speaker 1>far removed from the slide rules of a busted Apollo mission.

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<v Speaker 1>What is the technology forward that we will see from

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<v Speaker 1>this private enterprise. It's wonderful to celebrate today. I'm so

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<v Speaker 1>happy for Wali Funk and for somebody like her who's

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<v Speaker 1>had too long road to this road to space. And

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<v Speaker 1>we can think about the technology by asking, you know,

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<v Speaker 1>what has been the road for all the companies. I

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<v Speaker 1>was in college watching the Ansari X Prize. I want

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<v Speaker 1>to appreciate Anisia and Sary who helped fund some of

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<v Speaker 1>the early investments by private companies trying to demonstrate the

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<v Speaker 1>ability to put a human into space. There's Abordall mission

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<v Speaker 1>several times in a row, and we're seeing today with

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<v Speaker 1>multiple launches by private companies. Is part of this long journey.

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<v Speaker 1>Has also been a great coordination between government and private sector.

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<v Speaker 1>I used to work for NASA, and NASA has within

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<v Speaker 1>its congressional mandate something called the Space Act Agreement capability,

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<v Speaker 1>meaning they can make agreement with organizations that are private

0:12:46.000 --> 0:12:50.800
<v Speaker 1>sector organizations to share engineering knowledge and experience on space flight. Professor,

0:12:50.840 --> 0:12:53.760
<v Speaker 1>Would you were a Kennedy Center Canna, I'm gonna. I'm sorry,

0:12:53.760 --> 0:12:56.760
<v Speaker 1>it's Cape Canaveral, professor, Just so you know, for some

0:12:56.840 --> 0:12:59.000
<v Speaker 1>of us that are of a certain age, you were

0:12:59.040 --> 0:13:02.680
<v Speaker 1>an intern air and I'm sure in your Orlando and

0:13:02.720 --> 0:13:06.360
<v Speaker 1>your Central Florida you were grilled. Why are we doing this?

0:13:06.880 --> 0:13:10.400
<v Speaker 1>Explain now? Why are we doing this? In two thousand,

0:13:11.840 --> 0:13:15.440
<v Speaker 1>everyone on Earth is benefiting from the investments that governments

0:13:15.480 --> 0:13:18.160
<v Speaker 1>and the private sector are making in space. I travel

0:13:18.200 --> 0:13:20.880
<v Speaker 1>all over the world and I engage with leaders of

0:13:20.880 --> 0:13:25.680
<v Speaker 1>countries in Africa, Latin America, the Caribbean, Southeast Asia, countries

0:13:25.720 --> 0:13:29.360
<v Speaker 1>on every continent are investing in space infrastructure and looking

0:13:29.400 --> 0:13:31.480
<v Speaker 1>for ways for private companies to play a role in

0:13:31.480 --> 0:13:34.840
<v Speaker 1>the space ecosystem because phrase brings us many benefits through

0:13:34.840 --> 0:13:38.960
<v Speaker 1>observing the environment, understanding responding to climate change, managing our

0:13:39.000 --> 0:13:43.280
<v Speaker 1>fragile coastlines, and also thinking about providing services. But even

0:13:43.440 --> 0:13:48.000
<v Speaker 1>human spaceflight and micro gravity research helps us transfer benefits

0:13:48.000 --> 0:13:50.920
<v Speaker 1>from space back to Earth. We understand better how to

0:13:51.040 --> 0:13:54.320
<v Speaker 1>recycle water, how to recycle air, and make ecosystems that

0:13:54.320 --> 0:13:56.600
<v Speaker 1>are clean, whether they are artificial, but also on Earth.

0:13:56.880 --> 0:13:59.880
<v Speaker 1>And we also understand better how our bodies and plants

0:13:59.880 --> 0:14:02.840
<v Speaker 1>and animals respond in an environment like a microgravity which

0:14:02.840 --> 0:14:06.120
<v Speaker 1>explains the fundamental physics better. There's also the inspiration side.

0:14:06.480 --> 0:14:08.120
<v Speaker 1>I am running a program at a m I T

0:14:08.240 --> 0:14:11.360
<v Speaker 1>called Zero Robotics, and we're inviting middle school students from

0:14:11.400 --> 0:14:14.240
<v Speaker 1>around the country to learn about space robotics and how

0:14:14.280 --> 0:14:16.240
<v Speaker 1>to code. And one day we hope to do this

0:14:16.400 --> 0:14:18.880
<v Speaker 1>with the collaboration of the space station and expose them

0:14:19.160 --> 0:14:20.720
<v Speaker 1>to the space stations has be done in four in

0:14:20.760 --> 0:14:23.240
<v Speaker 1>the past, and so these opportunities inspire the next generation

0:14:23.240 --> 0:14:26.080
<v Speaker 1>of leaders as well. The great fear here is that

0:14:26.120 --> 0:14:29.200
<v Speaker 1>will be a success for the elites. As you well know,

0:14:29.440 --> 0:14:33.920
<v Speaker 1>we have two America's. How do we translate technological innovation,

0:14:34.320 --> 0:14:37.600
<v Speaker 1>how do we translate as Bryn Jolson and McAfee talk

0:14:37.680 --> 0:14:41.080
<v Speaker 1>about the race against the machine, how do we translate

0:14:41.160 --> 0:14:44.840
<v Speaker 1>this technology over to the have nots, the technological have

0:14:45.040 --> 0:14:48.840
<v Speaker 1>nots of America. I spent a lot of my time

0:14:48.880 --> 0:14:51.480
<v Speaker 1>thinking about how we can do engineering design in a

0:14:51.520 --> 0:14:56.800
<v Speaker 1>way that's equitable, advances environmental sustainability and economic justice. This

0:14:56.880 --> 0:14:59.960
<v Speaker 1>means first asking who's involved, ensuring that we have increased

0:15:00.040 --> 0:15:03.200
<v Speaker 1>diversity and access to technology. It also means designing these

0:15:03.200 --> 0:15:05.720
<v Speaker 1>space systems in a way that directly serves the needs

0:15:05.720 --> 0:15:09.000
<v Speaker 1>of those who experienced environmental injustice or long term discrimination.

0:15:09.320 --> 0:15:11.880
<v Speaker 1>It also means listening to groups like indigenous communities that

0:15:12.000 --> 0:15:14.800
<v Speaker 1>have a concerns cultural questions about what humans do in space,

0:15:14.840 --> 0:15:17.200
<v Speaker 1>for example, thinking of the moon as a sacred place.

0:15:17.440 --> 0:15:19.800
<v Speaker 1>There's a lot of ways we can use space technology

0:15:20.040 --> 0:15:22.920
<v Speaker 1>to write services like disaster response, for example. And we

0:15:22.960 --> 0:15:25.720
<v Speaker 1>can also then listen to those who usually don't have

0:15:25.840 --> 0:15:28.080
<v Speaker 1>a strong chance to give their view on it what

0:15:28.200 --> 0:15:29.840
<v Speaker 1>we do in space, because we're about to make some

0:15:29.960 --> 0:15:32.320
<v Speaker 1>key decisions as a human race and how we treat

0:15:32.360 --> 0:15:34.560
<v Speaker 1>the space environment, and I think we need more voices

0:15:34.600 --> 0:15:36.880
<v Speaker 1>involved in this going forward. Daniel, just a final word

0:15:36.880 --> 0:15:39.520
<v Speaker 1>from you. You mentioned the public private partnerships, and I

0:15:39.560 --> 0:15:42.040
<v Speaker 1>think it's spot on to point that out. But for

0:15:42.240 --> 0:15:45.120
<v Speaker 1>many of these efforts, they're increasingly privatized and the gangs

0:15:45.160 --> 0:15:47.880
<v Speaker 1>will be shared with the shareholders, and I wonder your

0:15:47.880 --> 0:15:49.920
<v Speaker 1>thoughts on that as we move away from strictly a

0:15:50.000 --> 0:15:54.840
<v Speaker 1>government effort towards something much more highly privatized. I think

0:15:54.840 --> 0:15:58.120
<v Speaker 1>it's so important that we continue to see government infrastructure

0:15:58.160 --> 0:16:02.920
<v Speaker 1>allowing services like research opportunity for universities like UH internationally

0:16:02.960 --> 0:16:06.040
<v Speaker 1>shared climate data that's important for everyone around the world.

0:16:06.120 --> 0:16:09.480
<v Speaker 1>I hope that that becomes a private sorry public service

0:16:09.520 --> 0:16:12.080
<v Speaker 1>that continues for years to come. There will also be

0:16:12.400 --> 0:16:15.160
<v Speaker 1>private activities that kind of build on the government infrastructure.

0:16:15.360 --> 0:16:17.640
<v Speaker 1>I think it remains to be seen whether that's going

0:16:17.680 --> 0:16:20.000
<v Speaker 1>to be only open to the elite. It is possible

0:16:20.000 --> 0:16:22.360
<v Speaker 1>for private companies to consider how they can have business

0:16:22.400 --> 0:16:26.520
<v Speaker 1>models that provide further openness to those who have less

0:16:26.520 --> 0:16:28.720
<v Speaker 1>access to lessibility to pay. This is a choice that

0:16:28.720 --> 0:16:30.280
<v Speaker 1>they need to make, and I hope they do make it.

0:16:30.480 --> 0:16:32.560
<v Speaker 1>Professor Wood, thank you so much for joining us for

0:16:32.640 --> 0:16:40.800
<v Speaker 1>the m I T Media Outlab. Daniel Wood, Chad Anderson

0:16:40.800 --> 0:16:42.640
<v Speaker 1>where this was a final thought here. He has been

0:16:42.640 --> 0:16:46.720
<v Speaker 1>more than patient Space Capitals managing partner of the dovetail

0:16:46.800 --> 0:16:49.800
<v Speaker 1>of all of this innovation, the NASA that we used

0:16:49.840 --> 0:16:52.560
<v Speaker 1>to know and maybe the NASA that's still there with

0:16:52.760 --> 0:16:55.880
<v Speaker 1>where we're moving forward. And you know, we've talked about

0:16:55.920 --> 0:16:58.480
<v Speaker 1>the next steps of these people. But to John's point,

0:16:59.040 --> 0:17:04.200
<v Speaker 1>does private enterprise and private competition get in the way

0:17:04.560 --> 0:17:09.359
<v Speaker 1>of space success? Absolutely not, it's driving it forward. We

0:17:09.359 --> 0:17:11.119
<v Speaker 1>started off in a place where we had never been

0:17:11.160 --> 0:17:13.600
<v Speaker 1>to space. Then we launched a satellite, then we launched

0:17:13.640 --> 0:17:15.119
<v Speaker 1>a human and then we landed on the Moon, and

0:17:15.160 --> 0:17:17.879
<v Speaker 1>we've been regressing ever since. And it's only thanks to

0:17:17.960 --> 0:17:22.200
<v Speaker 1>private efforts that we are now accelerating back into So

0:17:22.240 --> 0:17:24.920
<v Speaker 1>what does to think of this event today? I think

0:17:24.920 --> 0:17:26.920
<v Speaker 1>they think very highly of this event, and then they're

0:17:27.000 --> 0:17:29.880
<v Speaker 1>very happy to see this success again. They're benefiting from

0:17:29.920 --> 0:17:33.160
<v Speaker 1>this um. They are going to now be able to

0:17:33.520 --> 0:17:39.840
<v Speaker 1>rely on low cost innovative partners UM, leveraging reusability and

0:17:39.960 --> 0:17:42.720
<v Speaker 1>enabling them to do more with their limited budgets. I

0:17:42.760 --> 0:17:45.920
<v Speaker 1>mean this, this hits on a few different notes, one

0:17:46.040 --> 0:17:50.200
<v Speaker 1>the inspiration front um to the competition. It's driving innovation forward.

0:17:50.200 --> 0:17:52.640
<v Speaker 1>And three, we wouldn't be we wouldn't have the capability

0:17:52.640 --> 0:17:54.600
<v Speaker 1>that we have today without space technology. These guys in

0:17:54.640 --> 0:17:58.520
<v Speaker 1>Texas cowboy hats. Teach anybody at jp L anything. I'm serious,

0:17:58.640 --> 0:18:01.680
<v Speaker 1>I mean or it might not not the media and

0:18:01.840 --> 0:18:03.480
<v Speaker 1>M I T, but M I T or an X,

0:18:03.720 --> 0:18:06.359
<v Speaker 1>the legacy of Harold Atton and the rest of it.

0:18:06.440 --> 0:18:09.040
<v Speaker 1>Can they teach the pros anything? It's a great question

0:18:09.080 --> 0:18:12.920
<v Speaker 1>and one today, so you better go that D percent. Yes,

0:18:13.160 --> 0:18:15.800
<v Speaker 1>and they learn from each other. It's a symbiotic relationship.

0:18:15.880 --> 0:18:17.880
<v Speaker 1>So NASA has a lot of heritage and a lot

0:18:17.880 --> 0:18:20.520
<v Speaker 1>of great you know, embedded expertise. They've been there and

0:18:20.560 --> 0:18:23.080
<v Speaker 1>they've done that. The private sector is challenging a lot

0:18:23.080 --> 0:18:26.080
<v Speaker 1>of the embedded assumptions and doing things in new ways,

0:18:26.359 --> 0:18:29.600
<v Speaker 1>allowing them to do things more effectively and more cost effectively.

0:18:29.760 --> 0:18:33.440
<v Speaker 1>Chat just quickly investable opportunities. Right now, let's close right there?

0:18:33.960 --> 0:18:36.240
<v Speaker 1>Is this a single night and name opportunity? Say or

0:18:36.280 --> 0:18:38.080
<v Speaker 1>do you want to apply the industry as a whole.

0:18:38.640 --> 0:18:42.080
<v Speaker 1>We've gone from a very limited market ten years ago,

0:18:42.240 --> 0:18:45.040
<v Speaker 1>handful of defense contractors on one side and the government

0:18:45.040 --> 0:18:47.280
<v Speaker 1>on the other. There has now been two hundred billion

0:18:47.280 --> 0:18:50.800
<v Speaker 1>dollars invested in over fifteen hundred unique space companies over

0:18:50.800 --> 0:18:53.960
<v Speaker 1>the last ten years. This is a massive market opportunity.

0:18:54.200 --> 0:18:57.560
<v Speaker 1>UM cuts across the infrastructure of the distribution and the

0:18:57.600 --> 0:19:02.680
<v Speaker 1>applications of that satellite data UM in space technology stacks

0:19:02.680 --> 0:19:06.520
<v Speaker 1>such as GPS, geospatial intelligence and communications. This is a

0:19:06.560 --> 0:19:09.919
<v Speaker 1>massive market opportunity that we're just on the forefront of.

0:19:11.040 --> 0:19:13.240
<v Speaker 1>I love asking that question and saying and invest It's home.

0:19:13.320 --> 0:19:15.960
<v Speaker 1>Lean in, just lead in and give the pitch. Give

0:19:16.040 --> 0:19:17.680
<v Speaker 1>the pitch. Chat on us in there with the pitch.

0:19:17.960 --> 0:19:21.119
<v Speaker 1>Spice Capital Managing partner Chat. Thank you for being with

0:19:21.200 --> 0:19:23.280
<v Speaker 1>us through they lost couple of ask. This is the

0:19:23.280 --> 0:19:27.959
<v Speaker 1>Bloomberg Surveillance Podcast. Thanks for listening. Join us live weekdays

0:19:28.000 --> 0:19:31.479
<v Speaker 1>from seven to ten AMI Eastern on Bloomberg Radio and

0:19:31.600 --> 0:19:35.840
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0:19:35.920 --> 0:19:39.679
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0:19:39.800 --> 0:19:46.320
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0:19:46.480 --> 0:19:50.080
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0:19:50.119 --> 0:19:52.800
<v Speaker 1>Tom Keene and this is Bloomberg