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Speaker 1: Bloomberg Audio Studios, podcasts, radio news. It's something I think

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Speaker 1: it's safe to say no parents want to hear, especially

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Speaker 1: if they're hundreds of miles away from their kid.

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Speaker 2: He goes say that, are you guys sitting down?

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Speaker 1: This is Alejandro Otero. A couple of months ago, he

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Speaker 1: was on a trip with his wife overseas and they

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Speaker 1: got a phone call from their teenage son, who was

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Speaker 1: back home in Naples, Florida. He sounded panicked, and I go,

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Speaker 1: what's going on? And we got really concerned.

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Speaker 2: He goes, something went through the roof of the house

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Speaker 2: and through the entire bedroom, the guest bedroom, and tore

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Speaker 2: through the entire floor.

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Speaker 1: Something went through the roof of the house. Alejandro's son

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Speaker 1: told him he'd been in his room just a few

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Speaker 1: feet away when this thing came crashing through the ceiling.

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Speaker 2: He said it felt like a fireworks went off inside

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Speaker 2: the house.

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Speaker 1: Alejandro and his wife flew home, and after they checked

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Speaker 1: in with their son, they went straight to the guest room.

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Speaker 1: They found that object lodged in the floor.

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Speaker 2: He looked like a kind of like a squerish piece

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Speaker 2: of metal. It is a heavy almost two pounds, almost

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Speaker 2: a kilo of a hunk of metal, cylindrical in shape

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Speaker 2: and straight lines.

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Speaker 1: Alejandro called the police and the fire department. He called

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Speaker 1: his insurance company and a roofer.

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Speaker 2: Everybody was shocked. They were always in shock. They I've

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Speaker 2: never seen anything like this.

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Speaker 1: But Alejandro had a hunch about the object and where

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Speaker 1: it came from.

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Speaker 2: Immediately knew it was from somewhere out of space, and

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Speaker 2: it was man made. He wasn't an alien thing.

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Speaker 1: Somewhere out of space. After local press picked up Alejandro's story,

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Speaker 1: NASA contacted him. After conducting some tests, NASA told Alejandro

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Speaker 1: they had an answer. The thing that hit the house

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Speaker 1: was trash cast off by the International Space Station.

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Speaker 2: So that was a tremendous validation for us because went

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Speaker 2: now and knew the circumstances of this on this object in.

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Speaker 1: Our house, the hunk of metal that had crashed through

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Speaker 1: Alejandro's roof, it was space jung Today on the show,

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Speaker 1: trash is piling up in space, crash from satellites and

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Speaker 1: space stations, really anything that's been launched into orbit that's

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Speaker 1: causing problems. And now there's a multi billion dollar opportunity

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Speaker 1: for whoever can figure out how to clean it all up.

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Speaker 1: I'm David Gerrett, and this is the big take from

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Speaker 1: Bloomberg News.

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Speaker 3: Space is getting crowded.

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Speaker 1: That's Bruce Einhorn. He covers the space industry for Bloomberg.

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Speaker 3: So that's making the issue of debris something that's much

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Speaker 3: more front and center for a lot of people in

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Speaker 3: the industry.

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Speaker 1: And Bruce says, there's a lot of junk floating around

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Speaker 1: in space.

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Speaker 3: So there are lots of pieces of rockets, there are

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Speaker 3: pieces of satellites, dead satellites that continue to orbit the Earth.

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Speaker 3: They're also just smaller pieces of junk, maybe something that

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Speaker 3: broke off of a spacecraft that's still up there orbitting.

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Speaker 3: There are various estimates of just how much is up

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Speaker 3: there that can range from maybe thirty thousand or so

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Speaker 3: for really big pieces, but then when you talk about

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Speaker 3: smaller pieces, the numbers just soar.

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Speaker 1: According to NASA, there are over one hundred million pieces

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Speaker 1: of space junk, and that's kind of just a guess.

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Speaker 1: How challenging is it to get a sense of not

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Speaker 1: only how much stuff is up there, but where it

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Speaker 1: is at any given moment in time.

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Speaker 3: Well, it's difficult in part because debris almost by definition

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Speaker 3: is uncontrollable. These are pieces of spacecraft or just other

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Speaker 3: detritus of man's exploration of space that people don't have

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Speaker 3: a handle on anymore, and so it sometimes is just

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Speaker 3: hard to know what's up with there and where it is.

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Speaker 1: Bruce says that for a long time, figuring out what's

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Speaker 1: up there and where it is wasn't that big of

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Speaker 1: an issue.

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Speaker 3: It didn't get that much attention from a lot of

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Speaker 3: people because space is really big and just there weren't

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Speaker 3: that many things in orbit.

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Speaker 1: But that's recently changed as more and more private companies

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Speaker 1: have started to launch satellites into so called low Earth

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Speaker 1: orbit that's about twelve hundred miles above the surface of

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Speaker 1: the Earth. And the thing is, the types of satellites

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Speaker 1: they're launching are different from the big, clunky satellites of old.

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Speaker 1: These are smaller, sleeker, and a lot closer.

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Speaker 3: Because they're closer to the Earth, you can have greater

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Speaker 3: speed getting your signals to and from Earth, so you

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Speaker 3: don't have to lose a lot of time with the

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Speaker 3: spinning pinwheel of death. So that's the reason that companies

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Speaker 3: want to be using lower th orbit. But because of

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Speaker 3: the basics involved, you need a lot more satellites in

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Speaker 3: order to have the kind of coverage there.

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Speaker 1: There are now nearly six thousand active satellites in lowerth orbit,

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Speaker 1: and that's made the prospect of collisions more likely.

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Speaker 3: As the number of satellites up there increases, then there's

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Speaker 3: just more things that could be hit. And so that's

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Speaker 3: the worry, is that having so much debris up there,

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Speaker 3: sooner or later something's gonna smash into something else and

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Speaker 3: cause some problems.

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Speaker 1: Recently, there have been some pretty hairy near misses. In February,

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Speaker 1: a dead Russian satellite came close to hitting a NASA spacecraft,

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Speaker 1: which could have sent thousands of pieces of debris hurtling

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Speaker 1: toward other satellites. Well, it's the prospect of these types

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Speaker 1: of domino effects that has many people worried.

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Speaker 3: So you have very expensive satellite, you don't want to

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Speaker 3: hit by something else that could destroy the satellite and

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Speaker 3: then create more debris that could then potentially endanger other satellites.

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Speaker 1: And then of course there's the issue of what happens

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Speaker 1: if any of that junk re enters the Earth's atmosphere

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Speaker 1: and fails to disintegrate, making it all the way to

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Speaker 1: say a house in Naples, Florida.

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Speaker 3: The FAA did come out with report last year that

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Speaker 3: it commissioned that did say that as lower th orbit

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Speaker 3: gets more crowded, that we are going to get to

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Speaker 3: the point where there is going to be a casualty

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Speaker 3: or of fatality from lower th orbit every other year.

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Speaker 3: Something is going to hit somebody, one person every two years.

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Speaker 3: And the grand scheme of things is not a whole

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Speaker 3: lot obviously, but you know, tell that to the guy

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Speaker 3: in Florida who's you know, whose kid almost got hit

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Speaker 3: by a piece of junk that fell through the roof.

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Speaker 1: Recently, regulators have tried to step in.

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Speaker 3: So there is a new rule that companies will have

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Speaker 3: to follow from the FCC that says that within five

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Speaker 3: years of your satellite reaching the end of its life,

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Speaker 3: you have to have a plan for it to get

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Speaker 3: out of the way.

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Speaker 1: In October, US regulators issued their first debris penalty, finding

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Speaker 1: a company one hundred and fifty thousand dollars for leaving

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Speaker 1: a retired satellite parked in the wrong orbit. Now, with

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Speaker 1: the prospect of fines looming, companies are looking for.

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Speaker 3: The big issue is that chunk that's left in space

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Speaker 3: is not just something that anybody can go and say

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Speaker 3: take or.

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Speaker 1: Move coming up after the break. The private companies racing

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Speaker 1: to clean up are space mess There would be billions

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Speaker 1: of dollars worth of business for the best solution. We've

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Speaker 1: been talking about the growing problem of space junk. Now.

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Speaker 1: Companies like Amazon and SpaceX are facing fines if they

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Speaker 1: don't take care of their space debris. But that's not

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Speaker 1: so easy to do, says Bloomberg's Bruce Einhorn.

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Speaker 3: It's hard for people to just go up and remove debris.

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Speaker 1: Bruce says, trash collection here on Earth might be an

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Speaker 1: unpleasant business, but in space it's a logistical nightmare.

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Speaker 3: Like there could be a big piece of a rocket

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Speaker 3: that is problematic for your satellite. But if you don't

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Speaker 3: have permission from whoever put the rocket there in the

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Speaker 3: first place, you can't just take it. It doesn't belong

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Speaker 3: to you.

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Speaker 1: There's a lot of delicate geopolitics at play about whose

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Speaker 1: trash it is anyway, and who has the right to

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Speaker 1: clean it up.

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Speaker 3: There's a lot of Chinese junk up there. There's a

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Speaker 3: lot of American junk up there. There's also junk from

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Speaker 3: other countries. In the current geopolitical climate, getting countries to

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Speaker 3: agree on things related to space policy is very difficult.

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Speaker 1: And now a bunch of space junk startups are hoping

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Speaker 1: to step in with their ideas for cleaning up lower

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Speaker 1: Earth orbit.

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Speaker 3: The removal, debris, mitigation, debris identification industry feels that this

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Speaker 3: is their time. The things are starting to pick up

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Speaker 3: for them. We're seeing technology actually start to get tested,

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Speaker 3: devices getting sent up into space, and people starting to say, well,

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Speaker 3: you know, can this work, what can we do? How

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Speaker 3: is the technology working in where do we go from here?

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Speaker 1: Some of the ideas for getting rid of space junk

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Speaker 1: are pretty out there.

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Speaker 3: There's a company from Japan called Astroscale and that has

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Speaker 3: the idea of having a spacecraft with a robotic arm

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Speaker 3: that would then go out and grab something. They have

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Speaker 3: a spacecraft that launched a few months ago and is

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Speaker 3: trying to approach a big piece of a Japanese rocket

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Speaker 3: that's been left in space, and the goal is to

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Speaker 3: get within I think about one hundred meters or so

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Speaker 3: of that, which is no small thing given how fast

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Speaker 3: these things are going.

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Speaker 1: There's a European company called clear Space, which is also

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Speaker 1: trying to use robotic arms to essentially surround space junk

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Speaker 1: and move it safely out of the way, but it's

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Speaker 1: run into some issues.

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Speaker 3: They were planning on having a demonstration mission, I think

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Speaker 3: in twenty twenty six. The problem is that the target

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Speaker 3: piece of junk itself was hit by debris last year,

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Speaker 3: and so just recently in April they had to announce

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Speaker 3: all right, well we're going to have to find a

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Speaker 3: new target now because the previous one was actually hit

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Speaker 3: by debris.

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Speaker 1: Beyond robotic arms, there's a lot of other novel i

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Speaker 1: te is out there.

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Speaker 3: Another company is trying to use a drag sail, so

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Speaker 3: almost like a quite big parachute that would open up

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Speaker 3: and then slow down the satellite enough so that it

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Speaker 3: starts falling it gets closer to Earth and then can

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Speaker 3: enter the atmosphere and burn up. Another company hopes to

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Speaker 3: use lasers to I shouldn't use the word zapp to

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Speaker 3: just because it's not about it's not about like vaporizing

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Speaker 3: the junk. But if you can use a laser to

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Speaker 3: somehow again slow down the speed of the piece of

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Speaker 3: junk so that it gets closer to Earth.

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Speaker 1: Bruce says the goal is to get the objects as

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Speaker 1: close to Earth as possible so that they can then

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Speaker 1: burn up in the atmosphere, and to make them small

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Speaker 1: enough that there is no risk of them only partially disintegrating.

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Speaker 1: It's probably no surprise that none of these solutions robot arms, claws,

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Speaker 1: parachutes are particularly cheap. Can you get me a rough

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Speaker 1: sense of how much it costs to get rid of

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Speaker 1: a satellite that's outlived its usefulness?

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Speaker 3: Yeah, that's a big problem, right, because it can be

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Speaker 3: very expensive. It could cost millions of dollars. It can

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Speaker 3: go into the billions, depending on just you know, how

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Speaker 3: big the piece of junk is and how many pieces

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Speaker 3: we're talking about, and so that is one of the

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Speaker 3: problems that like who's going to pay for that. That's

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Speaker 3: one of the challenges that they'll face as this as

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Speaker 3: this business builds out.

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Speaker 1: And one reason why governments may need to step in

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Speaker 1: to help fund many of the low Earth orbit cleanup efforts.

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Speaker 3: I think that a lot of people expect that, at

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Speaker 3: least in the short term, that's where some of the

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Speaker 3: backing will have to come from.

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Speaker 1: And until solutions are closer to reality, there may also

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Speaker 1: need to be a look at how to reduce the

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Speaker 1: amount of junk we're launching into space. Alejandro Otero whose

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Speaker 1: Florida home was hit with a piece of space debris,

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Speaker 1: thinks governments should also consider finding a way to warn

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Speaker 1: us earthlings of potential pieces of space junk that might

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Speaker 1: pose a rist.

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Speaker 2: Something like an ember alert where people get a text

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Speaker 2: message obviously is something that will not cause panic, simply

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Speaker 2: where people can take shelter within the minute and a half,

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Speaker 2: where the object will predictly land on Earth.

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Speaker 1: As far as his own close encounter with space junk,

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Speaker 1: Alejandra was able to get his insurance to cover the

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Speaker 1: cost of repairing his home. The piece of metal that

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Speaker 1: did the damage, Well, NASA still has it, at least

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Speaker 1: for now. Do you want it back?

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Speaker 2: Absolutely?

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Speaker 1: Why is it important for you to have it for

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Speaker 1: you to get it back?

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Speaker 2: Oh, it's extremely important for us. It's a familiar earnlum now.

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Speaker 1: You can find Bruce ein Horn's story about space junk

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Speaker 1: and a lot more about extraterrestrial investments in Bloomberg's brand

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Speaker 1: new space newsletter. You can check it out at bloomberg

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Speaker 1: dot com Space. This is the Big Take from Bloomberg News.

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Speaker 1: I'm David Gera. This episode was produced by Jess Quebec

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Speaker 1: and Alex Sagura. It was edited by Stacy Vanick Smith

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Speaker 1: and Eric Johnson. It was mixed by Veronica Rodriguez, fact

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Speaker 1: checked by Thomas lou Our senior producers are Naomi Shaven

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Speaker 1: and Kim Gittleson. Our senior editor is Elizabeth Ponso. Nicole

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Speaker 1: Beemster Borr is our executive producer. Sage Bauman is our

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Speaker 1: head of podcasts. Thanks for listening. Please follow and review

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Speaker 1: The Big Take wherever you get your podcasts. It helps

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Speaker 1: new listeners find the show. We'll be back on Monday.