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Speaker 1: From Bahard where Innovation, money and power Collie in Silicon Vallet, NBN.

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Speaker 2: This is Bloomberg Technology with Caroline Hyde and Ed loved Love.

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Speaker 3: Welcome to a special edition of Bloomberg Technology.

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Speaker 4: We are live from Rocket Lab in Long Beach.

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Speaker 3: Coming up this hour, we'll bring you conversations with some

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Speaker 3: of the biggest names in.

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Speaker 4: The space and defense technology industry.

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Speaker 5: And I want to be honest with you, guys. We're

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Speaker 5: here because we've been on the road in socaw but

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Speaker 5: this is where the industry has happened. What's started with

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Speaker 5: a single name has boomed into thousands of startups, many

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Speaker 5: here in Southern California and in commercial space. This is

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Speaker 5: how it started. SpaceX has become synonymous with commercial space.

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Speaker 5: Elon Musk's company is a prolific launch provider, with around

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Speaker 5: three hundred and eighty launches of the Falcon nine family

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Speaker 5: of reusable rockets to date. The competition is starting to

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Speaker 5: catch up, whether abroad or at home in Southern California.

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Speaker 6: When you look at sort of the companies that are

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Speaker 6: coming out of this defense tech movement, a lot of

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Speaker 6: them have been trained at places like SpaceX, or they

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Speaker 6: got their start there and then they're building new startups

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Speaker 6: and deciding to build where there's a concentration of talent,

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Speaker 6: which is in southern California.

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Speaker 7: Toam Mueller, one of the early founders at SpaceX, who

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Speaker 7: actually brought rocket technology at Eli Musk because he likes

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Speaker 7: to say, you can't really throw a rock and also

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Speaker 7: going to know, I've hitting as SpaceX alum working on

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Speaker 7: another company.

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Speaker 5: Others have a home in Socau. Take rocket Lab. It's

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Speaker 5: an end to end space company providing launch services, which

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Speaker 5: designs and manufactures small and medium class rockets. It's had

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Speaker 5: eleven launch missions so far this year. Elsewhere, another launch

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Speaker 5: competitor is United Launch Alliance, which is transitioning from its

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Speaker 5: previous rockets to the next generation Vulcan family. The Pentagon

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Speaker 5: has brought several Vulcan launches to fly before the end

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Speaker 5: of this year, but delays have put pressure on the company.

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Speaker 5: It has launched two Vulcan rockets so far, neither has

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Speaker 5: cracked reusability. Bezos's Blue Origin also has new Glen, a

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Speaker 5: heavy lift orbital rocket, but it has yet to launch

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Speaker 5: to space. Meanwhile, in Europe, delays and malfunctions left the

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Speaker 5: continent unable to get to orbit. With its own rockets

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Speaker 5: for quite some time. The Arian six rocket, operated by

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Speaker 5: the European consortium Arianne Space, which lifted off early in July,

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Speaker 5: was Europe's first Arian rocket launch in a year. Arian

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Speaker 5: Space launched the final mission of its smaller Vega rocket

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Speaker 5: on September fourth. In the age of commercial space, space

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Speaker 5: X is still the most reliable way to hitch a

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Speaker 5: ride to Earth's orbit.

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Speaker 3: And talking of SpaceX, a California state commission voted against

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Speaker 3: a request by the US military to approve more SpaceX

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Speaker 3: launches now.

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Speaker 4: Commissioner is expressed.

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Speaker 3: Concern about why SpaceX was not applying for a permit itself,

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Speaker 3: and some also voice concern over working conditions at SpaceX.

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Speaker 3: Elil Musk's increasing role in US politics, as well a.

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Speaker 5: New story that came out early this morning. We're going

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Speaker 5: to dig deep into SpaceX throughout the show, but right

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Speaker 5: now we're going to talk about one of SpaceX's competitors,

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Speaker 5: rocket Lab, which is a rocket company and much more.

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Speaker 5: It's a launch provider and it's where we're at. We're

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Speaker 5: in the Long Beach headquarters. Also a focus on a

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Speaker 5: company that has a home in southern California and in

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Speaker 5: New Zealand. The company's CFO, Adam Spice, is with us.

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Speaker 5: Thank you very much for hosting us.

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Speaker 2: Thanks for that.

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Speaker 5: Let's start with the basics for the audience that might

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Speaker 5: just be tuning in for the first time wondering where

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Speaker 5: we are. Rocket Lab is an end to end space provider,

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Speaker 5: space launch services, systems provider. Bring us up to speed

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Speaker 5: on what that means.

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Speaker 2: Yeah, you know, we think that there's the space companies

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Speaker 2: of the future are ones that aren't just a launch

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Speaker 2: company or just a satellite company, or just an opera

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Speaker 2: or satellites. It's really all about providing an end d service.

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Speaker 2: So you're seeing here in Long Beach is really our headquarters.

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Speaker 2: We make a lot of the rocket components here at

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Speaker 2: Rocket Engines, the avionics and so forth. So we have

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Speaker 2: a pretty big footprint here in southern California, but we

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Speaker 2: since expanded that and of course the company got started

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Speaker 2: in New Zealand, but then expanded to the US and

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Speaker 2: started to expand further throughout the United States, including locations

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Speaker 2: in places like Denver and Albuquerque and Stennis, Mississippi, and

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Speaker 2: Silfur Springs, Maryland, and of course a launch site in

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Speaker 2: Wallaps Island. Virginia and a facility in Toronto, Canada as well.

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Speaker 2: So we've established ourselves a very broad footprint doing much

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Speaker 2: more than just launch.

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Speaker 5: An hqu here in SOCO, which fits exactly what we're

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Speaker 5: talking about. Two launch systems. What are they and what

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Speaker 5: are the differences?

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Speaker 2: Right? So, the vehicle you see behind you is Electron,

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Speaker 2: and Electron is the second most frequently launched vehicle in

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Speaker 2: the United States. It's launched fifty three times. So we've

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Speaker 2: got a very say significant lead in the small dedicated

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Speaker 2: launch market, and we're developing a second vehicle, which is

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Speaker 2: called Neutron, which will address the larger medium class launch market.

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Speaker 3: Go, we dig into the practicalities and how difficult space

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Speaker 3: engineering is. Where are we with Neutron and what are

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Speaker 3: some of the issues in the steps of getting it

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Speaker 3: up and running.

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Speaker 2: Yeah, well we're quite a ways along the path of Neutron,

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Speaker 2: you know. So we've been at it now for a

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Speaker 2: little over three years. We announced the program when we

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Speaker 2: became public in August of twenty twenty one. You know,

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Speaker 2: it's amazing to see a rocket program come together. You know,

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Speaker 2: I hadn't come from a space background. For joining the

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Speaker 2: company about six and a half years ago, and just

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Speaker 2: to see what it takes to pull together and pull

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Speaker 2: off a rocket development program is absolutely staggering. The complexity,

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Speaker 2: you know, not just.

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Speaker 5: From just the naturally rocket science out of it, it.

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Speaker 2: Is literally rocket science. I'm grateful every day that there's

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Speaker 2: people who have dedicated their lives to developing these complex

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Speaker 2: systems that are absolutely amazing. So's it's a very you know,

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Speaker 2: it's a very detailed, very arduous task to get there.

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Speaker 2: And I think that's what's so exciting from a business

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Speaker 2: perspective is the fact that if you can do it,

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Speaker 2: you know, you're one of a few numbers of organizations

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Speaker 2: in the history we've actually pulled it off. And so

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Speaker 2: it creates a very defensible position because again space is very,

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Speaker 2: very hard, and you know, we have the you know,

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Speaker 2: the I would say, the challenge of wake it up

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Speaker 2: every morning and doing battle with physics, but also doing

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Speaker 2: battle with some of the most fierce competitors on the plan,

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Speaker 2: including SpaceX. And so we look around our industry and

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Speaker 2: we see bodies everywhere that we have to step over,

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Speaker 2: and you know, it kind of makes you wake up

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Speaker 2: every morning and kind of like, Okay, this is a

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Speaker 2: serious business. We got to make sure that we make

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Speaker 2: all the right decisions, be very efficient with our capital,

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Speaker 2: and very very focused on execution.

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Speaker 4: I mean, you are the numbers guy.

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Speaker 3: Let's just talk about capital efficiency. You have to spend

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Speaker 3: in extraordinary amount of money. You took this company public.

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Speaker 3: You're having to answer to a whole host of retail

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Speaker 3: investors and more increasing the institution investors.

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Speaker 4: What's a revenue run rate and where is the money

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Speaker 4: coming from?

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Speaker 2: Yeah, we're very fortunate that we've been able to get

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Speaker 2: now to a scale. So Q two we generated over

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Speaker 2: one hundred million dollars in revenue, so we really kind

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Speaker 2: of now cross that threshold of scalability. We've shown that

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Speaker 2: a model can scale. I think it's very important that

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Speaker 2: we've done it. Not just on launch, because launch represents

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Speaker 2: about thirty percent of our revenues. Space systems actually represent

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Speaker 2: seventy percent.

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Speaker 5: And just on that, when you say space systems is

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Speaker 5: seventy percent of revenue, just in Layman's terms, what are

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Speaker 5: you talking about.

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Speaker 2: So we sell a variety of solutions. So we sell

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Speaker 2: subsystems that into the merchant market. So we sell things

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Speaker 2: like you know, solar solutions for spacecraft. We sell radios

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Speaker 2: and battery systems and composites and so forth. So we

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Speaker 2: really are a very serious in materials merchant subsystem market.

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Speaker 2: But then we also build full spacecraft solutions. So for example,

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Speaker 2: we built full spacecraft for NASA, then the Action. In fact,

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Speaker 2: we built a couple of spacecraft. They're gonna be orbiting

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Speaker 2: Mars and then not two distant. Y.

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Speaker 5: Yes, this is big news for you recently, very big

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Speaker 5: because you originally you weren't on that list and now

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Speaker 5: you are.

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Speaker 2: Well, that's actually from the marge sample return. Okay, sound

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Speaker 2: forward sow return. Yeah, that's and you're right. We were

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Speaker 2: not included in the first but we were ultimately added

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Speaker 2: to that program. So that's very exciting. But when you

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Speaker 2: look at all the different programs that were across again

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Speaker 2: not just subsystems, but we're actually making full satellites for

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Speaker 2: including the Defense Department and their Space Development Agency. We

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Speaker 2: want a contract to be the prime contractor for over

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Speaker 2: five hundred million dollar contract. So it's actually the one

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Speaker 2: thing that's most exciting for me is how quickly we've

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Speaker 2: come from a very organic base to now building a

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Speaker 2: very significant size revenue and getting again past that one

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Speaker 2: hundred million dollar thresholder quarter.

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Speaker 3: And you talk about the electron behind us fifty three

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Speaker 3: already put into space. How many launches are we looking

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Speaker 3: at in terms of the next year, what sort of

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Speaker 3: cadence you're trying to.

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Speaker 4: Live up to.

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Speaker 2: Well, you know, we've indicated fifteen to eighteen launches this year.

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Speaker 2: We've watched eleven times so far, so we've got a

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Speaker 2: big Q four coming up. And then when you look

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Speaker 2: at the kind of the rate going to next year,

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Speaker 2: we see growth off of that, and a lot of

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Speaker 2: it's really not depending on how many rockets we can build.

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Speaker 2: We can build a lot of rockets we could build.

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Speaker 2: You know, we've kind of sized.

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Speaker 4: Ourselves three D printing a whole lot.

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Speaker 2: We're three D printing a lot of stuff here. We

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Speaker 2: could build.

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Speaker 5: What is the limiting factor?

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Speaker 2: It's really the market at this point. It's really the market.

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Speaker 2: We can build as many rockets as the market demands.

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Speaker 2: But it's a new market, it's a nascent market, and

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Speaker 2: I think, you know, it just takes time for these markets.

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Speaker 5: I want to get into this, the business of space,

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Speaker 5: and just bear with me. Carry elon, musk, I'm bear

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Speaker 5: with you. A lot has a big gap right over

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Speaker 5: you a big sort of lead with SpaceX, and he

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Speaker 5: talks about this idea that the business of sending payload

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Speaker 5: to or pit tops out for them at three billion dollars. Now,

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Speaker 5: that's a scale that you're not near yet, but it

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Speaker 5: makes it seem like there's a cap, there's a ceiling

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Speaker 5: on how much money you can ever make in this business.

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Speaker 5: What do you make of that?

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Speaker 2: I think it depends on how you define this business, right,

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Speaker 2: I think, yeah, even as we've seen the SpaceX, I

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Speaker 2: don't think they stopped. They just launch. So launch is

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Speaker 2: a very critical part of the ecosystem, but it's not

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Speaker 2: the biggest piece of the ecosystem. So the applications and

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Speaker 2: creating that ongoing revenue stream from applications and having a

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Speaker 2: constation on orbit, that is really what people are shooting

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Speaker 2: for as far as where the real scale for this

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Speaker 2: industry comes from. And that's exactly what we're oriented around.

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Speaker 2: We're all about being an end to end space company

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Speaker 2: where we can design the spacecraft, we can build the

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Speaker 2: spacecraft in a very vertically integrated way with our own subsystems,

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Speaker 2: we can launch them on a variety of rockets, then

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Speaker 2: we can operate those in orbit so it's a very

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Speaker 2: very important thing to think about yourself as an end

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Speaker 2: end player, because again, if you're a bespoke kind of

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Speaker 2: one solution provider, it's probably not the path to survivability for.

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Speaker 3: Those institution investors sat watching and indeed retail investors who

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Speaker 3: are excited about putting money into rocketing very excited. What

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Speaker 3: tell us about how the market scale up? What is needed?

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Speaker 3: You're saying you can get these, you can build these

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Speaker 3: as quickly as a market wants. Well, what gets the

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Speaker 3: market to the next iteration to the size that you

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Speaker 3: want to be able to serve it?

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Speaker 7: That?

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Speaker 2: I think the most exciting thing about what's going on

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Speaker 2: in this market right now is that, you know, you

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Speaker 2: think about what typically drives the hockey stick growth kind

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Speaker 2: of characteristic of an industry, and it's usually commercial. But

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Speaker 2: I think we're in a really interesting period where we're

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Speaker 2: actually seeing the hockey stick being derived building from commercial opportunities.

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Speaker 2: So everyone seeing what SpaceX is doing with startlinks, that's

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Speaker 2: kind of old news to a certain extent. But then

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Speaker 2: you see Amazon Kuiper, you see Teleside light Speed, you

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Speaker 2: see the SDA constllation, So you're actually seeing a combination

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Speaker 2: of government and commercial all presenting hockey stick opportunities. And

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Speaker 2: that's really you're not just not a one bet kind

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Speaker 2: of situation right now. There's lots of different hiers you

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Speaker 2: can be your fired.

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Speaker 5: To, Adam. There's so much more to come, as you

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Speaker 5: know in this hour. But before we let you go,

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Speaker 5: a word for SpaceX. What they enabled your company to do,

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Speaker 5: particularly here in California.

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Speaker 2: Well, I think you have to give them, you know,

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Speaker 2: amazing credit for what they've accomplished. They really kind of

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Speaker 2: are a I would say, kind of a an inspiration

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Speaker 2: and aspirational target as well. Like we've seen, we've that

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Speaker 2: we could be done right. I think that's the one

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Speaker 2: thing is we wake up every morning understanding the challenge

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Speaker 2: that faces us, but we're not intimidated by it. Never

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Speaker 2: that's one thing that this company does not ever get

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Speaker 2: is intimidated by competition, whether it's SpaceX or anybody else.

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Speaker 2: So we're up for the challenge. It's exciting and there's

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Speaker 2: a tremendous amount of opportunity, and I think we're in

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Speaker 2: a great position to exploit it.

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Speaker 3: You were up early for us. We give you great

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Speaker 3: thanks for it, Adam. It's wonderful to have us here

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Speaker 3: and you here with us. Adam Spice, CFO of Rocket

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Speaker 3: Lab coming up, as Ed says, so much more to come.

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Speaker 3: We're actually going to dig into what Ela Musque's also

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Speaker 3: been up to. Tesla's Robotaxi revealed and the company debuts

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Speaker 3: is first fully autonomous vehicle, but shares a lower because

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Speaker 3: let's investor skepticism. We're going to be speaking with a

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Speaker 3: key investor who is there and getting the demos, Nazi

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Speaker 3: Tangla of Lafetangla Investments.

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Speaker 4: This is breen big technology.

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Speaker 8: We expect to be in production with the cybercap which

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Speaker 8: is really big, highly optimized for autonomous transport in probably well,

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Speaker 8: I don't be a little optimist with the time frames, but.

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Speaker 2: In twenty twenty six.

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Speaker 3: A little optimistic with timeframes as ever. Tesla CEO Elon

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Speaker 3: Musk and bailing rough production timeline should we call it

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Speaker 3: about its new autonomous cyber cab shares a test. They're

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Speaker 3: lower this morning, the announcement lower and it's because of cynicism, skepticism, right,

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Speaker 3: a lack of detail.

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Speaker 4: We are down nine percent over the last two training days.

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Speaker 3: Nazi Tangler is a holder of this stock was there

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Speaker 3: at the event of Laffa Tangler Investments, and you too

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Speaker 3: have a little bit of element of more questions than

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Speaker 3: answers right.

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Speaker 5: Now, and it's based on experience. I just want to say,

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Speaker 5: you got in cyber Cab, go from there.

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Speaker 4: Yeah, well it's awesome.

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Speaker 9: I mean, you know, Elon said the future should look

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Speaker 9: like the future, and it does look like the future.

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Speaker 4: We just don't know when the future is.

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Speaker 9: I mean there were no details except the site cab

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Speaker 9: will cost you know, less than thirty grand, that you'll

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Speaker 9: it'll cost twenty to thirty cents a mile, but if

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Speaker 9: you add in regulations forty and that just felt a

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Speaker 9: little bit like this to me because there was no

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Speaker 9: substantive backup to that. And so if you were there

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Speaker 9: to be wowed, it was it was filled with wow.

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Speaker 9: I mean, Optimus stole the show for me. There were

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Speaker 9: you know, the Robovan it's super interesting. But when and

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Speaker 9: we heard nothing about the ride sharing app.

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Speaker 4: We heard nothing about Can I just.

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Speaker 5: Jump in on that point, because so we've done a

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Speaker 5: lot of reporting on this business model, and the piece

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Speaker 5: of news that immediately jumps out is that cyber Cab

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Speaker 5: is going to be available to buy and that adds

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Speaker 5: another facet or dimension to the master plan. Do you

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Speaker 5: understand the proprietary ride hailing app that Tesla will one

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Speaker 5: day day offer us?

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Speaker 9: No, because we don't. We don't know what it's going

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Speaker 9: to look like. I mean, he said a lot of things.

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Speaker 9: There was a comment about Uber drivers are going to

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Speaker 9: be the shepherds of the flow, But what does that mean.

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Speaker 9: We're going to do away with parking lots because these

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Speaker 9: cars are just going to keep going so you can

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Speaker 9: get you know, lend your car back, and the parking

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Speaker 9: lots are going to be replaced by parks.

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Speaker 4: It sounds sound like he was running for office.

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Speaker 3: You know, which might be a criticism of what's been

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Speaker 3: happening at the moment, because look, you are an investor.

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Speaker 3: We see the pop in the shares of Uber of

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Speaker 3: Lift today because we thought there would.

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Speaker 5: Be more of a let's bring up let's bring up

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Speaker 5: Uber and left because it.

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Speaker 4: Is now. It depends on when you got in.

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Speaker 9: But we just added Uber to our twelve best Ideas

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Speaker 9: portfolio about two months ago. It was just lucky time

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Speaker 9: timing because it was right before they announced their partnerships

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Speaker 9: that that was the winner last night, Uber was the

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Speaker 9: winner of the event, and I think enjoyed it very much.

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Speaker 4: That well, I mean because.

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Speaker 9: Now they were worried at the IPO that Tesla would

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Speaker 9: replace them and this is proof positive pos Yeah, maybe

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Speaker 9: a decade and so WHATLCK can happen between now and then?

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Speaker 9: And I think that was the disappointment that we didn't

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Speaker 9: hear anything about the model too. There was no specificity

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Speaker 9: on things that investors care about.

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Speaker 4: Now.

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Speaker 9: The retail crowd that was there, you know, we're shouting out,

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Speaker 9: we love you, Elon, and you know, it felt like

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Speaker 9: a party.

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Speaker 4: What was it like being.

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Speaker 3: There for the first time at one of these events,

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Speaker 3: surrounded by the retail Pretty cool.

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Speaker 9: I actually that was the most fun for me talking

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Speaker 9: to retail investors why they own the stock, why they

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Speaker 9: own the cars.

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Speaker 4: But these are devotees.

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Speaker 9: It felt like a concert, like a mosh pit of

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Speaker 9: groupies right in front of the stage.

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Speaker 5: Yeah, Marguerite, who's running the show out the control room

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Speaker 5: in New York, bring up some video of the cyber cab.

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Speaker 5: I want to make a point here and ask questions

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Speaker 5: and Nancy, just by looking at it, if you're going

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Speaker 5: to do that and offer to sell it for thirty

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Speaker 5: thousand US dollars. Why not just stick a steering wheel

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Speaker 5: on it and some pedals and sell it for twenty

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Speaker 5: five thousand dollars like a normal car.

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Speaker 4: I know.

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Speaker 9: And he even said, you know, there's no steering wheels

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Speaker 9: and pedals, and we hope that goes well.

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Speaker 4: I mean it gets crossed it.

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Speaker 5: This is the van as well. So the Robovan again,

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Speaker 5: you know, one of his skills is keeping investors looking

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Speaker 5: to the horizon, right, Is that something you then redo

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Speaker 5: your whole Tesla model on when you see something like that?

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Speaker 4: Yeah?

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Speaker 9: No, because when I mean, we haven't seen the model

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Speaker 9: to you, we're supposed to see it first half of

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Speaker 9: next year. This would have been a good time to

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Speaker 9: kind of give investors a sense of what's going on.

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Speaker 9: I think across the board institutional investors were disappointed, and

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Speaker 9: we're seeing it in the stock price, but even in

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Speaker 9: the reporting afterwards, and I expected stock to trade down

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Speaker 9: even though you know, optimist is super cool. I'm going

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Speaker 9: to stay in the name as committed in the name

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Speaker 9: as you all, yes, because we got in at one hundred,

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Speaker 9: one hundred and eight when he was selling off in

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Speaker 9: January of twenty twenty three, We've sold back some as

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Speaker 9: it rose to two seventy and so forth. But I

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Speaker 9: think you want to own it for the next three

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Speaker 9: to five years. You may just not want to own

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Speaker 9: it for the next one to two years.

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Speaker 5: Elon Musque is always late, but he does often get

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Speaker 5: there in the end. Nancy Tanglo of Laffer and Tannglar Investments,

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Speaker 5: who was there last night, thank you very much. AMD

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Speaker 5: saw its biggest stock decline in more than a month

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Speaker 5: after the company unveiled new artificial intelligence chips, but did

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Speaker 5: not provide info on new customers or kind of financial

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Speaker 5: performance in the near term. I spoke with CEO Lisa

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Speaker 5: Sue and here's what she said about the company's latest

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Speaker 5: AI accelerators.

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Speaker 10: This is an incredibly fast growing market. I mean, if

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Speaker 10: you think about you know what we've done just over

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Speaker 10: the last twelve months or so, We've seen three hundred

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Speaker 10: demand increase from when we started the year too. In

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Speaker 10: our most recent earnings we actually said we would be

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Speaker 10: over four and a half billion dollars in this important

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Speaker 10: AI accelerator market.

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Speaker 5: Okay, we caught up with Jared Isaacman, who is mission

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Speaker 5: commander of Polaris Dawn, the first crew to test Starlink

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Speaker 5: laser based communications in deep deep space. Looking ahead, ask

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Speaker 5: him when he's going to fly on starship listen to this.

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Speaker 1: I leave that to the experts at SpaceX and Elon

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Speaker 1: to kind of determine the timeline on it. We'll fly

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Speaker 1: it as soon as it's ready. But right now, there's

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Speaker 1: a lot we can do with Dragon, and that's why

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Speaker 1: the first two playist missions were designed for Dragon.

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Speaker 2: Jared, what we.

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Speaker 5: Want to do with this is help our bloomleg Technology

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Speaker 5: audience around the world understand what is really happening inside

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Speaker 5: of SpaceX. Explain it, what it's like working with the engineers,

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Speaker 5: and how important you feel this company is not just

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Speaker 5: to an industry, but I suppose, as you put it,

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Speaker 5: humankind's future outside of Earth's atmosphere.

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Speaker 1: I wanted an ask some question, right Look, SpaceX is

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Speaker 1: an extraordinary organization. You know, since I've been sixteen, Since

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Speaker 1: I was sixteen years old, I've been in business and

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Speaker 1: have worked with literally like thousands of companies, you know,

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Speaker 1: across a lot of verticals, including defense aerospace. I was

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Speaker 1: the CEO of a defense aerospace company I started for

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Speaker 1: you know, almost twelve years, and I've never seen an

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Speaker 1: organization like SpaceX. You know, there's a a lot of

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Speaker 1: companies that have a mission and vision statement on their

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Speaker 1: website that no one cares about. I can tell you

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Speaker 1: there's fourteen thousand people who show up for work every

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Speaker 1: day at SpaceX, and they believe that there is no

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Speaker 1: greater impact they can make in the world than trying

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Speaker 1: to make life multiplanetary, because the world is a more

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Speaker 1: interesting place when you can journey among the stars. All

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Speaker 1: that aside, I do want to say that, like SpaceX

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Speaker 1: isn't solving all of the world's problems clearly in even

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Speaker 1: going to Mars, Like they may develop the optimal vehicle

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Speaker 1: and to take us there and back, but there are

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Speaker 1: still you know, like who knows how many potential challenges

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Speaker 1: that will exist on that journey. They're making it a

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Speaker 1: self sustaining city and coming back. So I think so

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Speaker 1: cool about SpaceX is they inspire so many other engineers,

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Speaker 1: you know, scientists, researchers who start up different companies that

439
00:20:17,440 --> 00:20:20,800
Speaker 1: follow SpaceX philosophies like it. It will take so many

440
00:20:21,080 --> 00:20:24,440
Speaker 1: SpaceX like companies to make this to make the world

441
00:20:24,480 --> 00:20:27,679
Speaker 1: a much better place. And they're just a great beacon

442
00:20:27,760 --> 00:20:30,560
Speaker 1: that is like inspiring many others to do the same.

443
00:20:33,200 --> 00:20:37,560
Speaker 3: Jared Isaacman, Polaristorn mission commander, and who's talking about the

444
00:20:37,600 --> 00:20:40,640
Speaker 3: ecosystem with which SpaceX goes on, And let's talk about

445
00:20:40,680 --> 00:20:43,560
Speaker 3: that because a great example of SpaceX alums branching out

446
00:20:43,600 --> 00:20:44,000
Speaker 3: on their.

447
00:20:43,880 --> 00:20:45,120
Speaker 4: Own is Interlagos.

448
00:20:45,200 --> 00:20:47,800
Speaker 3: It's a new VC firm actually started by former senior

449
00:20:47,840 --> 00:20:52,200
Speaker 3: SpaceX leaders. It's raising five hundred and fifty million dollars

450
00:20:52,440 --> 00:20:53,680
Speaker 3: for its first venture fund.

451
00:20:53,840 --> 00:20:54,560
Speaker 4: That was a lot of money.

452
00:20:54,560 --> 00:20:57,119
Speaker 3: It's been reported by tech Crunch citing regulatory filings and

453
00:20:57,480 --> 00:21:01,360
Speaker 3: confidential decks and to prospective LP but it's a massive

454
00:21:01,520 --> 00:21:05,320
Speaker 3: fund target to just spread across up to thirty two companies.

455
00:21:05,720 --> 00:21:07,840
Speaker 3: Real capital needed for these sorts of startups.

456
00:21:08,000 --> 00:21:11,240
Speaker 5: And it's a funny timing on a big piece of

457
00:21:11,320 --> 00:21:14,240
Speaker 5: news because that's why we're here in southern California. Elsegindo

458
00:21:14,359 --> 00:21:18,000
Speaker 5: very nearby, and the irony is with everyone giving kudos

459
00:21:18,040 --> 00:21:21,720
Speaker 5: to SpaceX. I think you caught up with Elsegindo's man,

460
00:21:21,840 --> 00:21:25,120
Speaker 5: and what did he tell you? Because SpaceX has mixed

461
00:21:25,119 --> 00:21:26,720
Speaker 5: feelings about this part of the world.

462
00:21:26,800 --> 00:21:29,960
Speaker 3: Might well be moving and he's concerned significantly about that.

463
00:21:30,040 --> 00:21:32,320
Speaker 3: Let's just get his take actually and on the worry

464
00:21:32,359 --> 00:21:34,280
Speaker 3: about SpaceX remaining committed to SOCA.

465
00:21:35,040 --> 00:21:39,080
Speaker 7: We're working on incentives to keep people here. SpaceX is,

466
00:21:39,119 --> 00:21:42,920
Speaker 7: you know, has so much capital invested in Hapdorm started

467
00:21:42,960 --> 00:21:46,640
Speaker 7: in El Segondo, then moved down to Hawthorn, So we'll

468
00:21:46,640 --> 00:21:49,480
Speaker 7: do everything we can to keep the industry here. We're

469
00:21:49,520 --> 00:21:52,040
Speaker 7: working with government officials at a DoD.

470
00:21:53,880 --> 00:21:56,840
Speaker 3: And look with five hundred and fifty million dollar VISI fund,

471
00:21:57,119 --> 00:21:59,640
Speaker 3: you can see that that's going to keep talent wanting.

472
00:21:59,359 --> 00:22:00,400
Speaker 4: To come to this part of the world.

473
00:22:00,520 --> 00:22:01,440
Speaker 5: I'm supposed to live too.

474
00:22:02,119 --> 00:22:07,639
Speaker 2: True.

475
00:22:11,440 --> 00:22:14,240
Speaker 3: Welcome back to a very special edition of BlueBag Technology.

476
00:22:14,280 --> 00:22:17,000
Speaker 3: We are here at Rocket Lab in Long Beach where

477
00:22:17,040 --> 00:22:19,320
Speaker 3: we're taking such a deep dive into space and the

478
00:22:19,320 --> 00:22:20,840
Speaker 3: defense tech industry more probably.

479
00:22:20,880 --> 00:22:23,800
Speaker 5: Yeah, and Anderill is one of the most prominent defense

480
00:22:23,840 --> 00:22:27,439
Speaker 5: tech companies in Southern California in the United States, and

481
00:22:27,480 --> 00:22:29,960
Speaker 5: it's quickly made a name for itself with how quickly

482
00:22:30,480 --> 00:22:33,360
Speaker 5: it's managed to win contracts with the US government. Now,

483
00:22:33,359 --> 00:22:35,720
Speaker 5: we caught up with Catherine Boyle, a bench capitalists at

484
00:22:35,760 --> 00:22:38,920
Speaker 5: Andresen Horowitz to talk about exactly that. Listen to this.

485
00:22:39,720 --> 00:22:41,960
Speaker 6: Andrewl is a perfect example of a company where you know,

486
00:22:42,000 --> 00:22:44,120
Speaker 6: I think ANDREL always points to how long it took

487
00:22:44,200 --> 00:22:47,480
Speaker 6: SpaceX and how long it took Pallanteer to get those

488
00:22:47,560 --> 00:22:49,840
Speaker 6: first contracts from the US government. It took them a

489
00:22:49,920 --> 00:22:52,119
Speaker 6: very long time. And of course Andreil did this at

490
00:22:52,160 --> 00:22:55,159
Speaker 6: a historic pace, you know, founded in twenty seventeen, by

491
00:22:55,160 --> 00:22:57,720
Speaker 6: twenty twenty they had their first program of record. And

492
00:22:57,760 --> 00:22:59,679
Speaker 6: I think if we take a step back, it actually

493
00:22:59,720 --> 00:23:02,280
Speaker 6: showed us that the government has woken up to the

494
00:23:02,359 --> 00:23:04,639
Speaker 6: need to work with startups, which was not the case

495
00:23:05,000 --> 00:23:06,919
Speaker 6: and the you know, the early twenty tens, it was

496
00:23:06,960 --> 00:23:08,920
Speaker 6: not the case when sort of the Defense one point

497
00:23:09,000 --> 00:23:11,919
Speaker 6: zero generation was really building. So ANDREL has shown that

498
00:23:11,920 --> 00:23:14,119
Speaker 6: you can move much faster. And the thing that I

499
00:23:14,119 --> 00:23:16,280
Speaker 6: think is really interesting is that the success of ANDROL

500
00:23:16,320 --> 00:23:18,920
Speaker 6: has begetting success for startups that were founded in the

501
00:23:19,000 --> 00:23:22,280
Speaker 6: last few years. You know, the program that we always

502
00:23:22,320 --> 00:23:24,879
Speaker 6: loved to point to is Replicator, which was, you know,

503
00:23:25,080 --> 00:23:27,439
Speaker 6: a program focused on working with startups and we're and

504
00:23:27,480 --> 00:23:30,600
Speaker 6: focusing on production that the Defense Department needs. That has

505
00:23:30,600 --> 00:23:34,480
Speaker 6: become a core initiative out of the DoD under this administration.

506
00:23:34,800 --> 00:23:38,560
Speaker 6: Previous administrations really focused on the Defense Innovation Unit, where

507
00:23:38,560 --> 00:23:41,240
Speaker 6: it was building, you know, building ties to Silicon Valley,

508
00:23:41,280 --> 00:23:44,040
Speaker 6: understanding that the best engineers in the world are in

509
00:23:44,119 --> 00:23:46,160
Speaker 6: Silicon Valley and that the d D has to work

510
00:23:46,160 --> 00:23:48,919
Speaker 6: with them. So I think that you know, the we

511
00:23:48,960 --> 00:23:51,320
Speaker 6: always look at the private industry side, which is that

512
00:23:51,359 --> 00:23:55,000
Speaker 6: there's now a talent density, there's momentum, there's capital that

513
00:23:55,040 --> 00:23:58,040
Speaker 6: has really met this movement so that we can build startups.

514
00:23:58,280 --> 00:24:00,560
Speaker 6: But that would mean nothing if there wasn't an buyer.

515
00:24:00,960 --> 00:24:04,000
Speaker 6: And the d D has become an extraordinarily eager buyer,

516
00:24:04,119 --> 00:24:07,280
Speaker 6: supportive of working with startups, understanding that you know, they

517
00:24:07,359 --> 00:24:09,919
Speaker 6: need to be a lot more thoughtful about procurement. They

518
00:24:09,960 --> 00:24:12,600
Speaker 6: need to make it possible for earlier stage companies to

519
00:24:12,640 --> 00:24:15,919
Speaker 6: be able to sell into the Department of Defense. And

520
00:24:15,960 --> 00:24:20,080
Speaker 6: that also these large legacy primes which have had no

521
00:24:20,240 --> 00:24:22,760
Speaker 6: competition for you know, in many cases fifty to one

522
00:24:22,800 --> 00:24:25,720
Speaker 6: hundred years, now have to start working with startups and

523
00:24:25,760 --> 00:24:28,800
Speaker 6: they have to integrate the technologies that these startups built

524
00:24:28,840 --> 00:24:32,000
Speaker 6: if they want to be the chosen supplier to the DoD.

525
00:24:32,160 --> 00:24:35,240
Speaker 6: So we have seen this extraordinary change in how the

526
00:24:35,320 --> 00:24:39,320
Speaker 6: DoD views startups as a possible supplier for the for

527
00:24:39,359 --> 00:24:40,159
Speaker 6: the requirements that.

528
00:24:40,160 --> 00:24:40,480
Speaker 4: They have.

529
00:24:43,359 --> 00:24:46,679
Speaker 3: Great conversation with Katherin Boyle, General Ponnard, Andresen Horrowitz. Of

530
00:24:46,680 --> 00:24:49,640
Speaker 3: course Andreil's work, Well, it's not just Hay on Earth

531
00:24:49,680 --> 00:24:51,879
Speaker 3: at the moment, is it that we're going to go

532
00:24:51,960 --> 00:24:54,440
Speaker 3: straight to what they're now doing in space? Senior Vice

533
00:24:54,520 --> 00:24:58,080
Speaker 3: president Cokosa Romanian is with us. You are in charge

534
00:24:58,440 --> 00:25:00,800
Speaker 3: of the space side as well as a software side.

535
00:25:00,840 --> 00:25:01,760
Speaker 4: I mean your.

536
00:25:01,600 --> 00:25:04,639
Speaker 3: Focus at the business is broad. What impact do you

537
00:25:04,680 --> 00:25:05,920
Speaker 3: want to make in space? I know you've got a

538
00:25:05,960 --> 00:25:06,800
Speaker 3: new deal to announce.

539
00:25:06,920 --> 00:25:09,320
Speaker 11: Yeah, yeah, well, Ed, Carolyn, thank you so much for

540
00:25:09,359 --> 00:25:11,240
Speaker 11: having me. It's so exciting to be here at Rocket

541
00:25:11,320 --> 00:25:13,200
Speaker 11: Lab and you can just kind of feel the energy

542
00:25:13,600 --> 00:25:16,080
Speaker 11: not just at ANDROL, but in the whole space ecosystem

543
00:25:16,280 --> 00:25:19,159
Speaker 11: rit large. So I mean for us, our focus in

544
00:25:19,240 --> 00:25:23,640
Speaker 11: space is really around space domain awareness and ultimately ensuring

545
00:25:23,720 --> 00:25:26,760
Speaker 11: that as space gets more contested and congested with so

546
00:25:26,840 --> 00:25:29,600
Speaker 11: many assets going up there, that we can defend and

547
00:25:29,640 --> 00:25:32,480
Speaker 11: protect US assets in space. And you know, the space

548
00:25:32,520 --> 00:25:35,800
Speaker 11: domain is so critical to everything, not just ANDROL does,

549
00:25:35,840 --> 00:25:39,320
Speaker 11: but the US government does right from things like GPS positioning,

550
00:25:39,359 --> 00:25:41,920
Speaker 11: how our soldiers know where they are, to communications, it's

551
00:25:42,000 --> 00:25:45,600
Speaker 11: never been more important to protect that space domain in

552
00:25:45,720 --> 00:25:48,119
Speaker 11: order for ANDROL to do what it needs to do

553
00:25:48,200 --> 00:25:50,840
Speaker 11: on the ground and to support our US war fighters

554
00:25:50,840 --> 00:25:51,440
Speaker 11: and allies.

555
00:25:51,520 --> 00:25:54,320
Speaker 5: So the case study through the news that is out

556
00:25:54,720 --> 00:25:56,680
Speaker 5: just in the last hour is a deal with Impulse.

557
00:25:56,800 --> 00:25:59,520
Speaker 5: What are the specifics of that, and based on what

558
00:25:59,560 --> 00:26:01,520
Speaker 5: you've just seen, explain to us what does a deal

559
00:26:01,600 --> 00:26:04,080
Speaker 5: like that allow How does a deal like that allow

560
00:26:04,119 --> 00:26:04,679
Speaker 5: you to do it?

561
00:26:04,960 --> 00:26:07,760
Speaker 11: Yeah, I mean, we're so thrilled to be working with Impulse,

562
00:26:07,960 --> 00:26:11,040
Speaker 11: with Tomuller and his team out there and the innovations

563
00:26:11,040 --> 00:26:12,800
Speaker 11: that they're bringing to the space domain.

564
00:26:13,280 --> 00:26:15,200
Speaker 2: What we got really excited.

565
00:26:14,840 --> 00:26:17,600
Speaker 11: About with Impulse is their propulsion technology and the ability

566
00:26:17,640 --> 00:26:21,320
Speaker 11: to access higher orbits, geo and neo orbits.

567
00:26:21,520 --> 00:26:24,480
Speaker 5: And if people just tuning him right now, the basics

568
00:26:24,520 --> 00:26:29,040
Speaker 5: of their technologies, we're talking about a small SATs essentially,

569
00:26:29,080 --> 00:26:31,800
Speaker 5: but they can move them at those different orbits, they.

570
00:26:31,680 --> 00:26:34,520
Speaker 11: Can move them for long durations. They're building what's called

571
00:26:34,520 --> 00:26:36,760
Speaker 11: an orbit transfer vehicle, so they can move from one

572
00:26:36,880 --> 00:26:39,760
Speaker 11: orbit to another orbit at a price point and a

573
00:26:39,800 --> 00:26:42,600
Speaker 11: resiliency that wasn't available before. And the reason that's so

574
00:26:42,640 --> 00:26:47,040
Speaker 11: important at is because the US's most critical systems are

575
00:26:47,080 --> 00:26:50,359
Speaker 11: located in those higher orbits, and those orbits are extraordinarily

576
00:26:50,440 --> 00:26:53,240
Speaker 11: expensive to reach, and so with our partnership with Impulse,

577
00:26:53,240 --> 00:26:55,600
Speaker 11: we'll be able to put assets in those orbits to

578
00:26:55,640 --> 00:26:57,800
Speaker 11: do the kinds of missions that we've been talking about.

579
00:26:57,880 --> 00:26:59,760
Speaker 11: And when it comes to ANDROL, we are a mission

580
00:27:00,000 --> 00:27:03,560
Speaker 11: stems provider, right. We provide end to end systems that

581
00:27:04,160 --> 00:27:07,399
Speaker 11: answer a DoD mission, whether that's observing things in space

582
00:27:07,680 --> 00:27:10,400
Speaker 11: or doing other things, and so we take we are

583
00:27:10,440 --> 00:27:13,639
Speaker 11: really really excited to work with partners like Impulse to

584
00:27:13,680 --> 00:27:17,919
Speaker 11: bring together their systems and ultimately missionize them for a

585
00:27:17,960 --> 00:27:18,880
Speaker 11: DoD use case.

586
00:27:19,280 --> 00:27:23,120
Speaker 3: You articulated the threat there, the idea that these assets

587
00:27:23,160 --> 00:27:27,480
Speaker 3: need protecting overseeing how quickly are we seeing other countries

588
00:27:27,960 --> 00:27:30,480
Speaker 3: doing what ANDREL is doing. How quickly we understanding that

589
00:27:30,560 --> 00:27:33,000
Speaker 3: their assets are being protected or indeed that they're going

590
00:27:33,080 --> 00:27:34,120
Speaker 3: to be able to target us.

591
00:27:34,240 --> 00:27:36,880
Speaker 11: Yeah, I mean, we've heard the US government say openly

592
00:27:36,960 --> 00:27:39,359
Speaker 11: space is now becoming a war fighting domain, just like

593
00:27:39,600 --> 00:27:43,280
Speaker 11: every other domain. Protecting space is critically important. The stat

594
00:27:43,320 --> 00:27:45,560
Speaker 11: I like to say is over the next ten years,

595
00:27:46,200 --> 00:27:48,960
Speaker 11: our adversaries will launch more systems into space than the

596
00:27:49,040 --> 00:27:53,240
Speaker 11: last seventy years combined, right, And so whether that's malicious

597
00:27:53,320 --> 00:27:55,639
Speaker 11: or not, there is just so much going on up

598
00:27:55,680 --> 00:27:57,879
Speaker 11: there that we need to have eyes and ears on

599
00:27:57,960 --> 00:28:00,280
Speaker 11: everything that's going on and ensuring that our bill to

600
00:28:00,280 --> 00:28:03,399
Speaker 11: conduct operations remains undeterred.

601
00:28:03,720 --> 00:28:06,720
Speaker 3: And the pivot the move into space. For you, what's

602
00:28:06,760 --> 00:28:09,600
Speaker 3: that meant? More talent, more investment. What does ANDROL need

603
00:28:09,640 --> 00:28:11,240
Speaker 3: to do to get to the size of scale you

604
00:28:11,240 --> 00:28:11,880
Speaker 3: want to be at?

605
00:28:12,160 --> 00:28:12,360
Speaker 2: Yeah?

606
00:28:12,400 --> 00:28:14,280
Speaker 11: Look, I mean if you think about what we've done

607
00:28:14,320 --> 00:28:16,040
Speaker 11: in every domain, right, So if you think about the

608
00:28:16,080 --> 00:28:19,439
Speaker 11: air domain with our CCA aircraft or Loyal Wingman, to

609
00:28:19,520 --> 00:28:22,240
Speaker 11: the underwater domain with the submarine that's about the size of.

610
00:28:22,160 --> 00:28:22,879
Speaker 5: A school bus.

611
00:28:23,000 --> 00:28:25,400
Speaker 11: There's one through line that connects all of it, which

612
00:28:25,440 --> 00:28:28,359
Speaker 11: is that fundamentally, what ANDROL does is we go from

613
00:28:28,560 --> 00:28:32,760
Speaker 11: traditional systems which are high cost, low volume, and we

614
00:28:32,840 --> 00:28:36,159
Speaker 11: invert that to low cost, high volume systems, right. And

615
00:28:36,200 --> 00:28:38,520
Speaker 11: the way to do that is through two things. One

616
00:28:38,720 --> 00:28:40,880
Speaker 11: is a focus on software and autonomy. If you want

617
00:28:40,880 --> 00:28:42,960
Speaker 11: to be high volume, you've got to get away from

618
00:28:42,960 --> 00:28:46,160
Speaker 11: one operator commanding one system to one operator being able

619
00:28:46,160 --> 00:28:48,920
Speaker 11: to control many systems. And two is a focus on

620
00:28:49,000 --> 00:28:52,640
Speaker 11: manufacturing and be able to manufacture at scale and fundamentally

621
00:28:52,640 --> 00:28:54,840
Speaker 11: we see that same need in space. If you think

622
00:28:54,880 --> 00:28:57,240
Speaker 11: about the challenges that we were just talking about, we

623
00:28:57,320 --> 00:29:00,480
Speaker 11: need to move to more autonomous systems, more high volumes

624
00:29:00,560 --> 00:29:02,360
Speaker 11: that are able to do these kinds of missions as

625
00:29:02,400 --> 00:29:04,040
Speaker 11: space gets more and more contested.

626
00:29:04,360 --> 00:29:08,120
Speaker 5: Throughout the year, we've covered Andreil, Tray Stevens, the executive chairman,

627
00:29:08,320 --> 00:29:10,960
Speaker 5: has come on the show, Palmer Lucky has come on

628
00:29:10,960 --> 00:29:12,680
Speaker 5: the show, one of the co founders, and it's been

629
00:29:12,680 --> 00:29:16,480
Speaker 5: in that context that portfolio of products. But also I

630
00:29:18,240 --> 00:29:20,600
Speaker 5: want to come back to space. I think it's probably

631
00:29:20,600 --> 00:29:23,400
Speaker 5: a smaller or newer area of the business. Is that fair?

632
00:29:23,480 --> 00:29:25,960
Speaker 5: That's definitely, and so let's look forward. How are you

633
00:29:26,080 --> 00:29:29,800
Speaker 5: growing it? You know, Caroline talk's about talent. From a

634
00:29:29,800 --> 00:29:33,280
Speaker 5: product perspective, will you offer many things? Do you feel

635
00:29:33,360 --> 00:29:35,560
Speaker 5: that it's an area of growth for and Reil.

636
00:29:35,680 --> 00:29:37,920
Speaker 11: We see it as an area of tremendous growth for Androl

637
00:29:37,920 --> 00:29:40,440
Speaker 11: and it's really the demand signal that we're seeing from

638
00:29:40,440 --> 00:29:42,640
Speaker 11: our customers and a big part of that actually is

639
00:29:42,680 --> 00:29:45,320
Speaker 11: the partnerships. The analogy I use is we want to

640
00:29:45,360 --> 00:29:48,080
Speaker 11: bring a team of super friends to this market. All

641
00:29:48,120 --> 00:29:50,520
Speaker 11: these companies in this area, many startups, that you're going

642
00:29:50,560 --> 00:29:53,360
Speaker 11: to talk to today. Where we're really special as our

643
00:29:53,400 --> 00:29:56,720
Speaker 11: ability to understand the government mission and put together a solution.

644
00:29:57,000 --> 00:29:59,280
Speaker 11: And with the government, the demand signal we're seeing loud

645
00:29:59,320 --> 00:30:02,160
Speaker 11: and clear. Captain Boyle talked about it earlier, is wanting

646
00:30:02,160 --> 00:30:04,520
Speaker 11: to work with many startups, each of which provide a

647
00:30:04,640 --> 00:30:07,360
Speaker 11: unique capability, but they need to be put together to

648
00:30:07,440 --> 00:30:09,120
Speaker 11: solve one of those problems. So if you go back

649
00:30:09,120 --> 00:30:11,360
Speaker 11: to the analogy of the super Friends, every super friend

650
00:30:11,440 --> 00:30:13,720
Speaker 11: does a unique thing, they have a superpower, but you

651
00:30:13,760 --> 00:30:16,120
Speaker 11: put them all together and they're unstoppable. And that's what

652
00:30:16,160 --> 00:30:18,280
Speaker 11: I think Androl wants to do. We want to bring

653
00:30:18,360 --> 00:30:21,680
Speaker 11: together a team of companies to go and provide optionality

654
00:30:21,680 --> 00:30:23,840
Speaker 11: to the government to say you don't just have to

655
00:30:23,880 --> 00:30:25,080
Speaker 11: answer these missions.

656
00:30:24,800 --> 00:30:25,720
Speaker 2: In a traditional way.

657
00:30:25,840 --> 00:30:28,440
Speaker 11: We can bring a non traditional team to answer these

658
00:30:28,520 --> 00:30:30,920
Speaker 11: missions at a higher quality, a lower price point, all

659
00:30:30,960 --> 00:30:31,680
Speaker 11: of those things.

660
00:30:32,920 --> 00:30:36,040
Speaker 5: What's it about Southern California and the space industry. It's

661
00:30:36,080 --> 00:30:36,640
Speaker 5: crazy here.

662
00:30:36,640 --> 00:30:37,640
Speaker 2: I mean it's just so exciting.

663
00:30:37,680 --> 00:30:40,080
Speaker 11: You walk into Rocket Lab and you walk past mission control,

664
00:30:40,120 --> 00:30:44,040
Speaker 11: and I mean just the talent density here that is amazing.

665
00:30:44,160 --> 00:30:47,160
Speaker 11: And I think that again, we're all partners in this.

666
00:30:47,240 --> 00:30:49,840
Speaker 11: When it comes to defense, there's only one team that's

667
00:30:49,880 --> 00:30:52,480
Speaker 11: Team America, and so it's really exciting to be able

668
00:30:52,480 --> 00:30:54,960
Speaker 11: to work with all of these companies here and you

669
00:30:55,000 --> 00:30:56,960
Speaker 11: kind of run into the same folks over and over again.

670
00:30:57,040 --> 00:30:58,400
Speaker 2: So we're super thrilled about that.

671
00:30:59,320 --> 00:31:02,680
Speaker 5: Goes Manian and Aerial Senior vice president here with us

672
00:31:02,720 --> 00:31:05,280
Speaker 5: at Rocket Lab. Thank you very much for your time.

673
00:31:05,320 --> 00:31:06,680
Speaker 5: There is so much more to come up on this

674
00:31:06,720 --> 00:31:11,920
Speaker 5: special show. One company's hope to revolutionize some other key

675
00:31:12,000 --> 00:31:15,680
Speaker 5: space architecture which honestly has not been touched since the

676
00:31:15,760 --> 00:31:20,400
Speaker 5: nineteen sixties. We're going to speak with Northward CEO Bridget Mendler.

677
00:31:20,800 --> 00:31:24,080
Speaker 5: That's coming up next. This is Bloomberg Technology.

678
00:31:39,640 --> 00:31:40,080
Speaker 4: Northwood.

679
00:31:40,320 --> 00:31:43,640
Speaker 3: It's a space startup that wants to build ground stations

680
00:31:44,080 --> 00:31:45,800
Speaker 3: the talk to satellites.

681
00:31:46,200 --> 00:31:47,240
Speaker 4: Look, you know the.

682
00:31:47,240 --> 00:31:50,000
Speaker 3: Big circular dish antennae, but ones that can actually be

683
00:31:50,080 --> 00:31:52,680
Speaker 3: scaled and scaled, fast, built and installed in.

684
00:31:52,640 --> 00:31:53,480
Speaker 4: Just a couple of days.

685
00:31:53,880 --> 00:31:56,880
Speaker 3: You might recognize Bridget Mendler of course from her acting roles.

686
00:31:56,920 --> 00:32:02,320
Speaker 3: Now Northward CEO, Bridget, welcome to bring bag technology and

687
00:32:02,920 --> 00:32:07,520
Speaker 3: tell us about the sheer infrastructure and technological feat you

688
00:32:07,520 --> 00:32:08,440
Speaker 3: are trying to take on here.

689
00:32:08,640 --> 00:32:10,840
Speaker 12: Yeah, yeah, thank you guys very much for having me

690
00:32:10,960 --> 00:32:11,960
Speaker 12: really excited to be here.

691
00:32:12,760 --> 00:32:12,960
Speaker 4: Yeah.

692
00:32:13,000 --> 00:32:15,480
Speaker 12: I think you know, for space companies, you're running a

693
00:32:15,520 --> 00:32:18,960
Speaker 12: business that is completely reliant upon connectivity, but connectivity with

694
00:32:19,000 --> 00:32:21,880
Speaker 12: space is stuck in a different era where you anticipate

695
00:32:22,160 --> 00:32:25,640
Speaker 12: outages or you find very expensive and cumbersome solutions for

696
00:32:25,680 --> 00:32:28,640
Speaker 12: outages in a way that would be completely unacceptable in

697
00:32:28,680 --> 00:32:31,520
Speaker 12: other industrialized sectors. We were actually talking to a space

698
00:32:31,560 --> 00:32:34,400
Speaker 12: company yesterday that had their contact time just slipped out

699
00:32:34,440 --> 00:32:36,520
Speaker 12: from under them at the last minute, and so it's

700
00:32:36,520 --> 00:32:39,520
Speaker 12: really hard to think of how to deliver a reliable

701
00:32:39,560 --> 00:32:42,880
Speaker 12: business to your customers under those conditions. And so we're

702
00:32:42,920 --> 00:32:46,560
Speaker 12: excited to really change the expectations for space companies where

703
00:32:46,600 --> 00:32:50,880
Speaker 12: you have this always on, reliable and frankly dynamic satellite

704
00:32:50,920 --> 00:32:54,280
Speaker 12: connectivity that you would expect of your power grade or

705
00:32:54,320 --> 00:32:56,640
Speaker 12: of your cell phones. And so we think that this

706
00:32:56,720 --> 00:33:00,240
Speaker 12: is a huge opportunity space and our first contribution into

707
00:33:00,280 --> 00:33:03,360
Speaker 12: it is through shared infrastructure through phase or antennas, which

708
00:33:03,440 --> 00:33:07,400
Speaker 12: offer a ten x improvement on availability for satellite operators,

709
00:33:07,440 --> 00:33:09,720
Speaker 12: along with a lot of other exciting features of Phase raise.

710
00:33:09,720 --> 00:33:12,400
Speaker 5: We explained earlier in the program like antenna arrays have

711
00:33:12,440 --> 00:33:15,160
Speaker 5: not really been touched in since the nineteen sixties, but

712
00:33:15,200 --> 00:33:16,880
Speaker 5: you know what they are. I mean, if you're ever

713
00:33:17,000 --> 00:33:18,959
Speaker 5: lucky enough to drive past one and you kind of

714
00:33:19,000 --> 00:33:23,040
Speaker 5: marvel still at the romance of space infrastructure. But I

715
00:33:23,040 --> 00:33:25,560
Speaker 5: guess the point is is that for all of the

716
00:33:26,200 --> 00:33:29,560
Speaker 5: expansion of constellation that's happening above our heads, you've got

717
00:33:29,600 --> 00:33:33,560
Speaker 5: to have it. What is different about your antenna, Like,

718
00:33:33,560 --> 00:33:36,240
Speaker 5: what is different about what you're offering?

719
00:33:36,640 --> 00:33:40,320
Speaker 12: Yeah, I mean the model that we are aiming for

720
00:33:40,440 --> 00:33:43,680
Speaker 12: is something that is scalable, as you all said, that

721
00:33:43,800 --> 00:33:46,520
Speaker 12: can be deployed swiftly, that can be really responsive to

722
00:33:46,640 --> 00:33:50,680
Speaker 12: changing needs, that can be placed in more dynamic locations.

723
00:33:50,720 --> 00:33:53,360
Speaker 12: So you know, we're envisioning a system where you could

724
00:33:53,360 --> 00:33:55,400
Speaker 12: be on a rooftop, or it could be in a

725
00:33:55,440 --> 00:33:57,880
Speaker 12: parking lot, or it could be you know, in some

726
00:33:58,040 --> 00:34:01,120
Speaker 12: austere location. This first demo that we did, it was

727
00:34:01,160 --> 00:34:04,280
Speaker 12: deployed in six hours. That was our very first time

728
00:34:04,320 --> 00:34:06,040
Speaker 12: bringing it out into the field. So we're excited to

729
00:34:06,360 --> 00:34:08,440
Speaker 12: bring that time down even further. We built our very

730
00:34:08,440 --> 00:34:12,759
Speaker 12: first system in four months, so we're looking to you know,

731
00:34:12,880 --> 00:34:14,719
Speaker 12: bring that time frame down even further.

732
00:34:14,800 --> 00:34:15,200
Speaker 4: As well.

733
00:34:15,640 --> 00:34:17,959
Speaker 12: And so you know, when you think about cell tower

734
00:34:18,000 --> 00:34:23,200
Speaker 12: infrastructure and that expansion globally of infrastructure that enables the

735
00:34:23,200 --> 00:34:25,359
Speaker 12: cellular industry, that's the kind of scale that we need

736
00:34:25,400 --> 00:34:27,800
Speaker 12: for Space to accomplish all of these super exciting missions

737
00:34:27,800 --> 00:34:30,879
Speaker 12: that have been talked about today and that we're seeing

738
00:34:30,960 --> 00:34:32,239
Speaker 12: pop up day after day.

739
00:34:32,239 --> 00:34:34,000
Speaker 3: Can you give us a sense of time frames how

740
00:34:34,040 --> 00:34:36,359
Speaker 3: long it took from standing start to demo and how

741
00:34:36,440 --> 00:34:39,080
Speaker 3: quickly from demo to getting it out there into the world.

742
00:34:39,400 --> 00:34:42,560
Speaker 12: Yeah, So for North would we really prioritize bringing on

743
00:34:42,600 --> 00:34:45,320
Speaker 12: the right people, the right parts, and the right processes.

744
00:34:45,400 --> 00:34:48,880
Speaker 12: So we've focused on building a team of people that

745
00:34:48,920 --> 00:34:53,160
Speaker 12: are exceptionally experienced in their respective field. We've sourced parts

746
00:34:53,239 --> 00:34:57,600
Speaker 12: from different corners of different industries that are traditionally used

747
00:34:57,600 --> 00:35:00,000
Speaker 12: within the aerospace sector, so we have kind of those

748
00:35:00,040 --> 00:35:03,040
Speaker 12: timeline and cost advantages. And then in terms of processes,

749
00:35:03,080 --> 00:35:06,200
Speaker 12: we're really focusing on a design for manufacturer methodology so

750
00:35:06,239 --> 00:35:09,560
Speaker 12: that we can you know, build things swiftly, have things

751
00:35:09,680 --> 00:35:14,120
Speaker 12: really consolidated into modular units, and just approach that differently.

752
00:35:14,200 --> 00:35:16,759
Speaker 12: So for us, in our first iteration, you know, this

753
00:35:16,960 --> 00:35:19,400
Speaker 12: was from the very beginnings of the design phase all

754
00:35:19,400 --> 00:35:22,360
Speaker 12: the way through you know, sourcing those parts, assembling those parts,

755
00:35:22,480 --> 00:35:24,919
Speaker 12: testing it, and then getting deployed. That was that four

756
00:35:24,920 --> 00:35:28,640
Speaker 12: months timeframe. And frankly, if there weren't some personakeity board vendors,

757
00:35:28,640 --> 00:35:30,200
Speaker 12: we could have been a lot faster.

758
00:35:30,320 --> 00:35:31,680
Speaker 4: Okay, so we've got the hold up.

759
00:35:31,719 --> 00:35:34,560
Speaker 3: Is it regularly you come from having experienced the government

760
00:35:34,640 --> 00:35:36,920
Speaker 3: side before building the private side.

761
00:35:37,200 --> 00:35:39,359
Speaker 4: What are some of the bug bez? Yeah?

762
00:35:39,440 --> 00:35:41,759
Speaker 12: I mean I think uh, I think it's really the

763
00:35:41,800 --> 00:35:44,480
Speaker 12: stuff that we're just trying to systematically embed in what

764
00:35:44,520 --> 00:35:49,040
Speaker 12: we're doing, which is the method of engineering of being

765
00:35:49,280 --> 00:35:51,600
Speaker 12: designed for manufacturer. We already had a ten x improvement

766
00:35:51,680 --> 00:35:55,120
Speaker 12: on our assembly times based off of that first iteration

767
00:35:55,320 --> 00:35:57,920
Speaker 12: that we've built. We already are able to improve that

768
00:35:57,960 --> 00:36:00,600
Speaker 12: by tenx. And the parts that we're sourcing from, you know,

769
00:36:01,080 --> 00:36:04,759
Speaker 12: our supply chain you know to date fully us and

770
00:36:04,800 --> 00:36:07,160
Speaker 12: it's a supply chain that is actually able to be

771
00:36:07,360 --> 00:36:08,960
Speaker 12: really flexible in timeframes.

772
00:36:09,120 --> 00:36:13,640
Speaker 5: And so your customers will be SpaceX and Amazon for defense.

773
00:36:14,600 --> 00:36:15,279
Speaker 4: Well. The cool thing.

774
00:36:15,239 --> 00:36:17,400
Speaker 12: About the ground segment, I would say, is kind of

775
00:36:17,400 --> 00:36:19,200
Speaker 12: like the S and P five hundred of the space industry.

776
00:36:19,200 --> 00:36:21,560
Speaker 12: If the market's going up like ground is going up

777
00:36:21,600 --> 00:36:26,480
Speaker 12: because every satellite, every different spacecraft mission requires ground connectivity.

778
00:36:26,520 --> 00:36:29,319
Speaker 12: So you know, whether it's a launch operator who's needing

779
00:36:29,360 --> 00:36:33,200
Speaker 12: to have more flexible and responsive times or you know,

780
00:36:33,360 --> 00:36:36,440
Speaker 12: different pad locations, or whether it's the satellite operators that

781
00:36:36,480 --> 00:36:38,400
Speaker 12: are on board that are wanting to make sure that

782
00:36:38,440 --> 00:36:40,600
Speaker 12: if there's you know, a schedule slip in a launch,

783
00:36:40,640 --> 00:36:42,440
Speaker 12: that they can still make all of their contacts with

784
00:36:42,480 --> 00:36:45,040
Speaker 12: this satellite that they've invested their blood, sweat and tears

785
00:36:45,040 --> 00:36:46,200
Speaker 12: in and a lot of money for a lot of

786
00:36:46,239 --> 00:36:49,160
Speaker 12: years to get up there. But I think you know,

787
00:36:49,239 --> 00:36:52,920
Speaker 12: the responsive and dynamic space missions like you know, go

788
00:36:53,080 --> 00:36:55,680
Speaker 12: col was just speaking about a moment ago in terms

789
00:36:55,719 --> 00:36:58,200
Speaker 12: of going to different orbits, that's a really exciting space.

790
00:36:58,520 --> 00:37:02,800
Speaker 12: I think comms use cases are a similarly very exciting applications,

791
00:37:02,880 --> 00:37:06,320
Speaker 12: especially when you're wanting to have lower latency, greater availability

792
00:37:06,360 --> 00:37:08,719
Speaker 12: and resiliency. So, I mean, I know that's kind of

793
00:37:08,719 --> 00:37:11,320
Speaker 12: avoiding the answer, but it's kind of across the board.

794
00:37:11,640 --> 00:37:13,360
Speaker 5: Well, you can be find back when you're ready with

795
00:37:13,960 --> 00:37:16,280
Speaker 5: a big name customer. It's really good to see Bridget

796
00:37:16,320 --> 00:37:30,239
Speaker 5: Menla Northward CEO, Thank you very much. Okay, how do

797
00:37:30,320 --> 00:37:32,960
Speaker 5: I say this. Varda Space is a company which builds

798
00:37:33,000 --> 00:37:37,839
Speaker 5: little spacecrafts that process pharmaceutical materials in orbit and then

799
00:37:37,880 --> 00:37:41,480
Speaker 5: bring them back down to Earth. But it needs rockets

800
00:37:41,560 --> 00:37:45,160
Speaker 5: to get them there and then get them back. Let's

801
00:37:45,239 --> 00:37:47,280
Speaker 5: try and work out how it works with the company's

802
00:37:47,280 --> 00:37:50,760
Speaker 5: CEO and co founder, Will Brewie. That's a pretty good summary.

803
00:37:50,920 --> 00:37:52,960
Speaker 13: Not bad, actually almost as good as I would have said. Yeah,

804
00:37:52,960 --> 00:37:53,719
Speaker 13: absolutely love it.

805
00:37:54,120 --> 00:37:56,400
Speaker 5: One thing real quick, you are a customer of rocket

806
00:37:56,440 --> 00:38:00,480
Speaker 5: Lab where we are. If it's actually not right forward,

807
00:38:00,480 --> 00:38:02,680
Speaker 5: is that because they are not your launch provider.

808
00:38:03,120 --> 00:38:03,480
Speaker 2: Correct?

809
00:38:04,040 --> 00:38:05,920
Speaker 5: But take it from there please and explain what it

810
00:38:05,960 --> 00:38:07,840
Speaker 5: is that you do, not on Earth but in space.

811
00:38:07,960 --> 00:38:11,080
Speaker 13: Sure, So we make pharmaceuticals in orbit because the lack

812
00:38:11,080 --> 00:38:14,080
Speaker 13: of gravity allows you to make new drug formulations that

813
00:38:14,120 --> 00:38:17,400
Speaker 13: wouldn't otherwise be possible on Earth in Earth's gravity. So

814
00:38:17,440 --> 00:38:20,319
Speaker 13: we build the manufacturing systems to make those pharmaceuticals and

815
00:38:20,360 --> 00:38:22,319
Speaker 13: the re entry vehicles to bring them from space to

816
00:38:22,360 --> 00:38:23,120
Speaker 13: home to the patient.

817
00:38:23,360 --> 00:38:26,239
Speaker 5: I failed chemistry in high school, and Caroline did very well.

818
00:38:26,760 --> 00:38:30,160
Speaker 5: But the basic point is that it won't be stable

819
00:38:30,200 --> 00:38:32,880
Speaker 5: on Earth, it will be stable in microgravity exactly.

820
00:38:32,960 --> 00:38:35,040
Speaker 13: So I think of it as part of the manufacturing process.

821
00:38:35,120 --> 00:38:37,200
Speaker 13: Just like temperature is part of the manufacturing process. Even

822
00:38:37,200 --> 00:38:39,360
Speaker 13: though you change the temperature, the product remains the same.

823
00:38:39,520 --> 00:38:42,480
Speaker 13: We use gravity to affect the manufacturing process in the

824
00:38:42,480 --> 00:38:42,799
Speaker 13: same way.

825
00:38:42,800 --> 00:38:45,359
Speaker 3: So many questions from there. Yeah, please, but firstly like

826
00:38:45,360 --> 00:38:46,319
Speaker 3: how do you get them back?

827
00:38:46,719 --> 00:38:48,240
Speaker 2: So we build our own re entry vehicle.

828
00:38:48,320 --> 00:38:50,960
Speaker 13: So we are now the third company ever to produce

829
00:38:51,000 --> 00:38:52,879
Speaker 13: a re entry vehicle to go from space to Earth.

830
00:38:52,880 --> 00:38:55,320
Speaker 13: There's SpaceX, Boeing, and now little old Varda one hundred

831
00:38:55,320 --> 00:38:57,799
Speaker 13: and three people the third to ever do it. Yeah,

832
00:38:57,800 --> 00:38:59,480
Speaker 13: so we build those vehicles, they come and hit the

833
00:38:59,480 --> 00:39:01,000
Speaker 13: atmosphere mark twenty five.

834
00:39:01,160 --> 00:39:01,839
Speaker 5: But it's not.

835
00:39:02,400 --> 00:39:05,839
Speaker 3: For example, when we watch the re entry of SpaceX,

836
00:39:05,920 --> 00:39:09,320
Speaker 3: they land in a specific place. You need a broad

837
00:39:10,080 --> 00:39:13,000
Speaker 3: land mass to be able to put it back in exactly.

838
00:39:13,040 --> 00:39:15,840
Speaker 13: So in the near term we have a unguided vehicle,

839
00:39:16,280 --> 00:39:18,520
Speaker 13: which means the area that we need is much larger.

840
00:39:18,560 --> 00:39:21,960
Speaker 13: But we want to bring those dispersion areas closer and

841
00:39:21,960 --> 00:39:24,080
Speaker 13: closer to eventually get to a football field size.

842
00:39:24,120 --> 00:39:28,480
Speaker 5: Well, this is very exciting, and you're very nice. I

843
00:39:28,480 --> 00:39:31,360
Speaker 5: think it's probably very difficult what you're trying to do.

844
00:39:31,760 --> 00:39:36,320
Speaker 5: Could you explain the complexity the re entry vehicle getting

845
00:39:36,360 --> 00:39:38,919
Speaker 5: it even into this area. I think that you guys

846
00:39:38,960 --> 00:39:40,920
Speaker 5: are trying to land in certain area the size of

847
00:39:40,960 --> 00:39:42,239
Speaker 5: Maryland or something like that.

848
00:39:42,440 --> 00:39:45,319
Speaker 13: Oh, a little bit smaller than Maryland. But yeah, it's

849
00:39:45,320 --> 00:39:49,360
Speaker 13: actually relatively simple. It's not trivial though. Re Entering the

850
00:39:49,400 --> 00:39:51,719
Speaker 13: Earth's atmosphere has been done before. We're just doing it

851
00:39:51,760 --> 00:39:54,160
Speaker 13: in a new way for the specific use case of

852
00:39:54,160 --> 00:39:59,120
Speaker 13: bringing pharmaceuticals home to patients. So it's a technology we've

853
00:39:59,120 --> 00:40:00,400
Speaker 13: developed over the last few years.

854
00:40:00,920 --> 00:40:02,600
Speaker 3: Where in the world are you managing to find the

855
00:40:02,640 --> 00:40:05,680
Speaker 3: space to land it? Like, are you doing it here

856
00:40:05,680 --> 00:40:08,880
Speaker 3: in America or there? The size that you need to

857
00:40:08,920 --> 00:40:11,160
Speaker 3: be able to put the re entry is that we're broad.

858
00:40:11,360 --> 00:40:14,040
Speaker 13: So our first re entry earlier this year, that occurred

859
00:40:14,040 --> 00:40:16,520
Speaker 13: in Utah, so there's a nice open area there, and

860
00:40:16,600 --> 00:40:19,239
Speaker 13: the next one's occurring in Australia. We're looking at opening

861
00:40:19,320 --> 00:40:21,959
Speaker 13: up a landing site in New Mexico. So you'll see

862
00:40:21,960 --> 00:40:24,560
Speaker 13: that re entry is going to become as common as launch.

863
00:40:24,680 --> 00:40:26,920
Speaker 13: And so we're laying the infrastructure and building the systems

864
00:40:26,920 --> 00:40:27,200
Speaker 13: for that.

865
00:40:27,280 --> 00:40:30,520
Speaker 5: Okay, the capsules over my right shoulder, okay, and so

866
00:40:30,960 --> 00:40:33,600
Speaker 5: let's go to the relationship with rocket Lab. Rocket Lab

867
00:40:33,719 --> 00:40:35,759
Speaker 5: is a launch provider, but actually the majority of its

868
00:40:35,800 --> 00:40:38,960
Speaker 5: revenues come from other services, So explain the work you

869
00:40:39,040 --> 00:40:41,360
Speaker 5: do with them, because they don't actually take you to

870
00:40:41,400 --> 00:40:42,359
Speaker 5: all bit that's right.

871
00:40:42,440 --> 00:40:44,279
Speaker 13: So you heard much as I say it earlier, there's

872
00:40:44,280 --> 00:40:47,040
Speaker 13: applications once you get to space. That's really just opening

873
00:40:47,160 --> 00:40:49,080
Speaker 13: up the tip of the iceberg of what you can

874
00:40:49,120 --> 00:40:51,680
Speaker 13: do once you get to space. So you can see

875
00:40:51,680 --> 00:40:54,799
Speaker 13: this whole ecosystem developing, and you get an exponential growth

876
00:40:54,920 --> 00:40:58,600
Speaker 13: right now because easier access to space means more demand

877
00:40:58,680 --> 00:41:01,320
Speaker 13: for space, and that's the definition of an exponential growth function.

878
00:41:01,719 --> 00:41:04,319
Speaker 13: So if you think about someone like Varda, who is

879
00:41:04,360 --> 00:41:08,480
Speaker 13: only possible now because access to space is cheaper and easier,

880
00:41:08,480 --> 00:41:12,200
Speaker 13: we're demanding more access to space, and so you can

881
00:41:12,239 --> 00:41:15,120
Speaker 13: see the whole ecosystem come together to make these pharmaceuticals

882
00:41:15,120 --> 00:41:18,480
Speaker 13: in orbit. So SpaceX is our launch provider. Rocket Lab

883
00:41:18,560 --> 00:41:21,160
Speaker 13: sells us a bus to do power comms and things

884
00:41:21,239 --> 00:41:24,040
Speaker 13: like that, and then Varda is the re entry vehicle

885
00:41:24,080 --> 00:41:27,239
Speaker 13: that has both a pharmaceutical manufacturing equipment inside. So we

886
00:41:27,280 --> 00:41:29,919
Speaker 13: did a drug called ratanavier on our first mission, and

887
00:41:30,400 --> 00:41:32,200
Speaker 13: then we do the re entry of that vehicle.

888
00:41:32,760 --> 00:41:34,200
Speaker 5: So it's team sport.

889
00:41:34,360 --> 00:41:37,400
Speaker 3: We've got sixty seconds. That team sport depends on regulation.

890
00:41:37,520 --> 00:41:40,000
Speaker 3: Approval for companies like SpaceX and they've just had a

891
00:41:40,040 --> 00:41:40,520
Speaker 3: knock back.

892
00:41:40,680 --> 00:41:42,200
Speaker 5: Is that an issue regulation?

893
00:41:42,800 --> 00:41:45,000
Speaker 13: So what I tell the team is, anytime you're doing

894
00:41:45,040 --> 00:41:47,160
Speaker 13: something that's never been done before, like we've never done

895
00:41:47,200 --> 00:41:48,840
Speaker 13: this before. Humans have never done this before, So of

896
00:41:48,840 --> 00:41:50,759
Speaker 13: course you're going to need to push regulations along the way.

897
00:41:50,760 --> 00:41:51,319
Speaker 2: They're not going.

898
00:41:51,440 --> 00:41:54,480
Speaker 13: Regulators are not the tip of the iceberg from technology perspective,

899
00:41:54,520 --> 00:41:57,600
Speaker 13: so as the industry matures, so will regulation. So I

900
00:41:57,600 --> 00:42:00,760
Speaker 13: wrote an op ed last week about very pacific standards

901
00:42:00,760 --> 00:42:02,760
Speaker 13: that we can start to put in the FA review

902
00:42:02,760 --> 00:42:05,760
Speaker 13: process to make it cheaper and easier for without reducing

903
00:42:05,760 --> 00:42:08,439
Speaker 13: safety for FA analysts to check work.

904
00:42:08,760 --> 00:42:11,120
Speaker 3: All eyes on the FAA and SpaceX today. In terms

905
00:42:11,120 --> 00:42:12,920
Speaker 3: of the news, Will Bruy great to have some time

906
00:42:12,960 --> 00:42:15,919
Speaker 3: with you, co founder and CEO of Vada Space Now.

907
00:42:16,320 --> 00:42:21,279
Speaker 3: Can't believe it yea flew by part. What an amazing

908
00:42:22,200 --> 00:42:24,520
Speaker 3: show for Bloomberg Technology to be here at rocket Lab.

909
00:42:24,800 --> 00:42:27,719
Speaker 5: This one is you do want to recap find the podcast.

910
00:42:27,920 --> 00:42:30,719
Speaker 5: It is prime for lift off on Apple, Spotify, and

911
00:42:30,840 --> 00:42:33,840
Speaker 5: iHeart from Long Beach, California, and All the Part is

912
00:42:34,480 --> 00:42:38,879
Speaker 5: a special edition in Space and Defense of Bloomberg Technology