WEBVTT - Iridium COO on Innovations in Communications Satellites

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<v Speaker 1>This next company, man Um, flies the largest constellation of

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<v Speaker 1>communications satellites in space. They track aircraft in real time.

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<v Speaker 1>It also tracks US war fighters and elephants and helps

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<v Speaker 1>monitor ocean waste. They have truly truly the big picture

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<v Speaker 1>of the world. We're talking about Iridium and with us

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<v Speaker 1>to talk about the business, the outlook the pandemic is

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<v Speaker 1>Susie McBride. She's chief operating Officer, chief administrative officer at

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<v Speaker 1>Iridium and she joins us on the phone on this Friday,

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<v Speaker 1>joining us UM. So great to have you here with us.

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<v Speaker 1>First of all, Susie, welcome to Bloomberg and how has

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<v Speaker 1>your world been. We've talked to a lot of leaders

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<v Speaker 1>and we just like to kind of get an idea

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<v Speaker 1>of what the last six months has been like. Hi, Carol,

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<v Speaker 1>thank you. Yeah, it's been a little a little different

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<v Speaker 1>than before. Uh, you know, we're all kind of getting

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<v Speaker 1>used to this the new normal that everyone talks about.

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<v Speaker 1>You know, I'm incredibly proud of our team. You know,

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<v Speaker 1>we had a very quickly transition to majority working from

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<v Speaker 1>home and it's really been remarkable how well we've kind

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<v Speaker 1>of done that transition. Um. You know, most of our

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<v Speaker 1>workforce is remote and we still have our essential workers

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<v Speaker 1>and I have to give a huge shout out because

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<v Speaker 1>that those guys and gals come in day and day

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<v Speaker 1>out and then make sure that our systems are running

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<v Speaker 1>and we're keeping the lights on and that especially um

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<v Speaker 1>you know, flying the constellation and running the systems for

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<v Speaker 1>our critical safety of life services, which is really important.

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<v Speaker 1>Um So, all in all, it's really been a good transition.

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<v Speaker 1>And I can say that I think we are all

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<v Speaker 1>now masters of video calling and I learned how to

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<v Speaker 1>kind of thing to action. Now. That's what I want

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<v Speaker 1>to ask to Susy. So is everybody are they at

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<v Speaker 1>the office, are they working from home? Working from home,

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<v Speaker 1>you know, remotely? Do they continue to do so we've

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<v Speaker 1>got for us, we've got about i'd say about eight

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<v Speaker 1>five percent working from home right now and about the

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<v Speaker 1>teams are sent that are coming into the office day

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<v Speaker 1>and day out. Uh, the majority of our workforce is

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<v Speaker 1>working from home. Um, you know, in we've used teams

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<v Speaker 1>and that's been a really effective tool. I mean, we've

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<v Speaker 1>got very lucky in some ways that we had already

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<v Speaker 1>planned to implement uh that tool back in January, so

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<v Speaker 1>timing just was perfect. It's sort of accelerated our need

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<v Speaker 1>to jump on and learn it. But um, everyone adapted

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<v Speaker 1>and we really haven't missed a beat. We've been doing

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<v Speaker 1>new development programs and test programs remotely and it really

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<v Speaker 1>is almost as if we're side by side. I mean,

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<v Speaker 1>there's some challenges, it's not quite the same, but um,

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<v Speaker 1>it's really been working remarkably well. I'm pretty impressed. Right,

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<v Speaker 1>So Susie, let me ask you me, Carol set it

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<v Speaker 1>up beautifully sort of the scope of your business and

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<v Speaker 1>this whole notion of the big picture. What do you

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<v Speaker 1>see that maybe we're missing here on the ground, because

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<v Speaker 1>you literally do see the whole world. We do. We

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<v Speaker 1>we operate the only truly global constellation and space and

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<v Speaker 1>so you know, unlike a lot of other ones, we

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<v Speaker 1>really do see from north to the South Pole and

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<v Speaker 1>everything in between. Um. And we do this with a

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<v Speaker 1>fully interlinked mesh network. Uh. And so you know, are

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<v Speaker 1>you're asking what we're seeing in terms of the business

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<v Speaker 1>side or yes, sort of like I'm asking it almost

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<v Speaker 1>existentially in the sense that you know, I feel like

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<v Speaker 1>we are sort of missing the forest for the trees

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<v Speaker 1>at times here and I wonder, you know, because we're

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<v Speaker 1>worried about the environment, We're worried about the pandemic, We're

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<v Speaker 1>worried about population movement, all these different things, and we're

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<v Speaker 1>even worried about how we're connected to each other. So

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<v Speaker 1>I wonder what you're able to glean because you do

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<v Speaker 1>have this different perspective in the world. Yeah, I mean

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<v Speaker 1>we we definitely are seeing you know, continued grow through

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<v Speaker 1>the shipments, but planes, you know, everything that has to

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<v Speaker 1>move items from point A to point b. Um. Obviously

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<v Speaker 1>we're seeing some strong growth and like the IoT subscriber

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<v Speaker 1>base this year, which is driven a lot by the

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<v Speaker 1>garments personal communication devices as well as our other satellite

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<v Speaker 1>trackers from from our new partners. You know, we're seeing

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<v Speaker 1>that a lot of people want to get off the

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<v Speaker 1>grid or get outside and explore more. Especially it's not

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<v Speaker 1>being on the go inside or travel quite the way

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<v Speaker 1>they used to um and so having those devices available,

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<v Speaker 1>I think they want to be off the grid but

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<v Speaker 1>still stay connected in a lot of ways. Definitely be

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<v Speaker 1>a movement in that in that kind of sector. I

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<v Speaker 1>do think about the satellite images, you know, I just

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<v Speaker 1>was doing a quick scan because I think about the

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<v Speaker 1>last six months. Susie Jason and I've talked a lot

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<v Speaker 1>about the stories about you know, satellite images of Wuhan, China,

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<v Speaker 1>like just showing that it had ground to a halt.

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<v Speaker 1>I think about all of those images of our climate

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<v Speaker 1>right as the world shut down, and all of a

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<v Speaker 1>sudden you could see more and you could see you know,

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<v Speaker 1>the environment kind of quickly coming back. I think that

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<v Speaker 1>was a really big lesson for so many of us.

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<v Speaker 1>I mean, you guys do see so much, and you

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<v Speaker 1>play into maritime, you play into aviation, you are in

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<v Speaker 1>the Internet of things, land mobile devices, you play into

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<v Speaker 1>the government right with government contracts. You know, based on

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<v Speaker 1>what you're seeing, you know, we're all kind of looking

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<v Speaker 1>for some ideas about kind of what comes next. Where

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<v Speaker 1>are we in terms of this economy and this market environment?

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<v Speaker 1>Based on what you're seeing, what would you say? Yeah,

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<v Speaker 1>I think over the last couple of we're seeing it

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<v Speaker 1>start to pick up back up. I mean, there definitely

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<v Speaker 1>is UM. You know, we watched all the routes and

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<v Speaker 1>where people are using our system and UM seeing, especially

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<v Speaker 1>in the aviation. I don't know if you're familiar. We've

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<v Speaker 1>got the tracking system US called Arion, which is a

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<v Speaker 1>separate company that is uses the Iranium network to track

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<v Speaker 1>aircraft all over the world. And clearly, you know there's

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<v Speaker 1>been a dip, pretty big dippers, everyone knows in the

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<v Speaker 1>aviation but we're kind of starting to see that slightly

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<v Speaker 1>pick up. And then obviously in the other lines of

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<v Speaker 1>communication and transportation, Um, we're doing well and it seems

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<v Speaker 1>to be kind of steady, and um we don't not

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<v Speaker 1>seeing a big hit or decline as people I think

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<v Speaker 1>originally thought there might be back in March along those lines.

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<v Speaker 1>I do wonder, because of satellite imagery, is there a

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<v Speaker 1>lesson learned that God forbid we go through something like

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<v Speaker 1>this again. Can we somehow pick up a visual queue

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<v Speaker 1>around the world that there is another pandemic or signs

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<v Speaker 1>of something started. I don't know, help me with that. Well, uh,

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<v Speaker 1>there actually is. You know several companies that are taking

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<v Speaker 1>a lot of the geospatial data, and you know, how

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<v Speaker 1>do they combine that? And fact on on the board

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<v Speaker 1>of one of the startup companies that's doing this, and

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<v Speaker 1>it's really how do you take the data that's available

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<v Speaker 1>and then turn that into information? Right? How can you

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<v Speaker 1>locally look for a forest fire before it starts? How

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<v Speaker 1>can you look for a global pandemics? So there's a

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<v Speaker 1>lot of innovation starting around those kind of technologies. And

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<v Speaker 1>how do it not just one technology is right? How

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<v Speaker 1>do you take a group of different pieces of data

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<v Speaker 1>or images or weather data and combine those to then

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<v Speaker 1>produce information to predict or to spot something sooner than later.

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<v Speaker 1>One thing I do want to ask you though, Susie.

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<v Speaker 1>You know you said business is starting to pick up. Um,

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<v Speaker 1>do you do you have a lot of visibility? Do

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<v Speaker 1>you have a lot of hope for Yeah? We do. UM,

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<v Speaker 1>you know, for us in particular, I think things are

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<v Speaker 1>really going well, and UM it gives us a lot

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<v Speaker 1>of hope going into twenty one that everyone's rebounding and

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<v Speaker 1>kind of figuring out how to work in this new environment. Um.

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<v Speaker 1>You know it's different than before, clearly, but I think

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<v Speaker 1>I've got a lot of hope that we've got. You know,

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<v Speaker 1>we're all adapting and changing and growing in a way

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<v Speaker 1>that makes sense for the environment we're in today. So, Susie,

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<v Speaker 1>I want to ask you if if I can about space,

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<v Speaker 1>because you know, Carol grew up the daughter of an engineer.

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<v Speaker 1>I spent some of my growing up years in Houston,

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<v Speaker 1>so you know, very much exposed to the space program there.

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<v Speaker 1>It does feel like over the past five years, maybe

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<v Speaker 1>in the past three years, and SpaceX has had a

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<v Speaker 1>lot to do with it, but Blue Origin and UM

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<v Speaker 1>Virgin Galactic and others has really pushed it back to

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<v Speaker 1>the four It's easy to write this off. I think

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<v Speaker 1>is kind of like, oh, billionaires, I want to go

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<v Speaker 1>into space and they're sort of funding all. This feels

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<v Speaker 1>bigger than that, though. What are you seeing from a

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<v Speaker 1>business lens that sort of gives you some perspective one

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<v Speaker 1>on where we may be going around the economics of

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<v Speaker 1>space and space exploration. Yeah, I think it does feel different.

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<v Speaker 1>I think there is a big push right now and

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<v Speaker 1>and there's a lot of progress being made as well.

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<v Speaker 1>I think it isn't a different different elements On the

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<v Speaker 1>communication side, you know, clearly there's demand for communications. I've

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<v Speaker 1>got teenage boys and the way they use you know,

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<v Speaker 1>phones is very different than how I grew up and

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<v Speaker 1>still use it today. You know, they're much more data driven,

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<v Speaker 1>fast access to their video calls and snapchats and things

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<v Speaker 1>with their friends. So I think there's gonna there's still demand,

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<v Speaker 1>you know, to how do we grow our infrastructures to

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<v Speaker 1>support all that one of the new services and tools

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<v Speaker 1>that come around that, and space plays into that because

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<v Speaker 1>people do want to stay connected all the time. Um,

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<v Speaker 1>you know, Internet of Things is the other big item,

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<v Speaker 1>and that's especially where a radium plays nicely into, you know,

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<v Speaker 1>is people have a lot more devices that want to

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<v Speaker 1>be connected. They want to know what those devices are doing,

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<v Speaker 1>whether it's you know, game cares are shipping containers, and

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<v Speaker 1>I think that's just going to continue to grow as

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<v Speaker 1>demand grows and new applications are are created. I mean,

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<v Speaker 1>we just we've got a uh about four and fifty

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<v Speaker 1>plus partners and just watching the innovation that comes out

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<v Speaker 1>of their shops on new ways to develop, you know,

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<v Speaker 1>how to attract danger wildlife, for monitor ocean cleanups. I

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<v Speaker 1>mean those are all just things that evolved with all

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<v Speaker 1>this innovation and creativity. Wants the space infrastructure there to

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<v Speaker 1>allow more remote locations to have access to those same

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<v Speaker 1>type of applications. So we have to have some fun

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<v Speaker 1>with you if we may, because Jason and I we've

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<v Speaker 1>actually talked had on air. Um the creator uh and

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<v Speaker 1>writer of the show that's on Netflix called Away and

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<v Speaker 1>it's about a mission to Mars. So do you watch

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<v Speaker 1>this stuff? We do. My husband's also a satellite engineer

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<v Speaker 1>as well, so we're very much addicted to that type

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<v Speaker 1>of technologies and TV shows. And we've already watched it

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<v Speaker 1>and it was a great, great show, because great in

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<v Speaker 1>the ending, because I still have two more episodes. I

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<v Speaker 1>finished it last night. But I mean, I will say

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<v Speaker 1>it felt Susie and you are you're sort of the

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<v Speaker 1>MythBuster here for us. Like I feel like, certainly there

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<v Speaker 1>were stuff that was clearly fictional, that it is fictional,

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<v Speaker 1>but it didn't feel like science fiction, you know what

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<v Speaker 1>I mean, Like it felt like this is within our

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<v Speaker 1>grasp to some extent. Yeah, I really felt the same

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<v Speaker 1>way it was. It's got more reality built in. I mean,

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<v Speaker 1>sure there's some things that are still a little impossible

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<v Speaker 1>to do, but like texting from Mars, basically we're having

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<v Speaker 1>that good video chat quality, you know. Um, But it

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<v Speaker 1>was very well done. I mean I know years ago

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<v Speaker 1>we also the Sandra Bullock movie, which I enjoyed and loved,

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<v Speaker 1>but there was multiple times my husband but like that

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<v Speaker 1>won't happen. So I do feel like the away show

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<v Speaker 1>is closer and um, it was well done and it

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<v Speaker 1>felt very authentic to what might be possible. Well, what's

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<v Speaker 1>the what's the cool thing, the cool factor or the

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<v Speaker 1>thing that you guys are thinking about for your industry,

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<v Speaker 1>whether it's in five years or ten years, that just

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<v Speaker 1>you know, Jason, I love talking with venture capitalists and

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<v Speaker 1>innovators and entrepreneurs about kind of okay, what's next. And

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<v Speaker 1>I am curious when you look from your vantage point

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<v Speaker 1>what's next, whether it's the satellite world or connected to that. Yeah,

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<v Speaker 1>I think there's two plays, especially like in the satellite communications,

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<v Speaker 1>there's there's the companies are going after the big broadband

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<v Speaker 1>you know, the back of the planes, big cruise ships

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<v Speaker 1>and things, um. But what I see is a lot

0:11:36.760 --> 0:11:41.240
<v Speaker 1>of the smaller you know, people want photos, they want

0:11:41.240 --> 0:11:44.559
<v Speaker 1>something handhel that's mobile that they can take places and

0:11:44.760 --> 0:11:48.640
<v Speaker 1>or connecting to um, you know, cars, connected cars is

0:11:48.640 --> 0:11:50.480
<v Speaker 1>going to be I think a bigger thing. I think

0:11:50.520 --> 0:11:53.360
<v Speaker 1>as we all get more and more reliant on technology

0:11:53.520 --> 0:11:57.400
<v Speaker 1>and constantly connectivity, we want to have it where we

0:11:57.440 --> 0:12:00.400
<v Speaker 1>are and get really frustrated when we're going places doesn't

0:12:00.400 --> 0:12:03.480
<v Speaker 1>have that that service that we're so used to having.

0:12:03.520 --> 0:12:06.560
<v Speaker 1>So I do see that continuing to grow, and I

0:12:06.600 --> 0:12:10.160
<v Speaker 1>think as the infrastructure grows in people, you know, we

0:12:10.480 --> 0:12:13.480
<v Speaker 1>complement very well, but our system with these these new

0:12:13.520 --> 0:12:17.440
<v Speaker 1>badband systems is then the innovation starts on what the

0:12:17.520 --> 0:12:20.640
<v Speaker 1>services in the applications and the products that build around that.

0:12:20.760 --> 0:12:22.480
<v Speaker 1>So I do think that we're going to continue to

0:12:22.520 --> 0:12:25.720
<v Speaker 1>see growth there and new ideas. I can't think of

0:12:25.760 --> 0:12:28.320
<v Speaker 1>what exactly they are today. But the important thing for

0:12:28.320 --> 0:12:30.680
<v Speaker 1>a ridium, especially since sure that we're there, we've got

0:12:30.679 --> 0:12:33.800
<v Speaker 1>that infrastructure that they can then build upon it in

0:12:34.320 --> 0:12:37.640
<v Speaker 1>you know, whether it's tracking tuna fish or whether it's

0:12:37.679 --> 0:12:40.120
<v Speaker 1>you know, somebody going on a hike now to a

0:12:40.160 --> 0:12:42.160
<v Speaker 1>place that they never thought they'd go if it wasn't

0:12:42.160 --> 0:12:44.760
<v Speaker 1>for COVID with their garment in reach, right. I mean,

0:12:44.760 --> 0:12:46.720
<v Speaker 1>that's what we need to continue to do, is build

0:12:46.720 --> 0:12:49.679
<v Speaker 1>that infrastructure and the data connectivity. Yeah, it's pretty amazing

0:12:49.720 --> 0:12:51.280
<v Speaker 1>just the things that we take for granted, even on

0:12:51.320 --> 0:12:54.480
<v Speaker 1>our phone right to get us wherever we need to be. Susie,

0:12:54.679 --> 0:12:56.920
<v Speaker 1>this was so cool. Thank you so much. We really

0:12:57.080 --> 0:13:00.840
<v Speaker 1>enjoyed it. Susan McBride, she CEO and chiefs Imistrative Officer

0:13:00.880 --> 0:13:03.920
<v Speaker 1>at Iridium, on the phone in Phoenix, such cool stuff,