Ed Elson

the valuations and the pricing on the companies that actually are building things, and the valuations are pretty stunning, the multiples are pretty stunning, including on your company.

And one thing that is...

I think, notable about the space industry is we haven't really seen it be proven as a profitable business yet.

So your company isn't profitable.

It's expected to, analysts say, it'll be profitable in 2028.

But I'm interested to know what the prize is from a business perspective for a lot of these investors, because clearly there's something out there

There's some prize that's going to be so great that will warrant these unbelievable valuations that we are seeing.

What is that prize and what would this business look like, say, 10 or 20 years down the line?

Just to go back to the profitability point, and just so we're clear, I mean, I am a huge fan of space.

I read about science fiction all the time.

I'm so excited about it.

I want these companies to build these rockets, and I want us to go to Mars, and I want us to explore space.

I'm like, pro.

So I didn't mean for it to sound mean on the profitability point.

No, not at all.

My understanding, which I'd like to understand more about, is that so far...

It is a business that doesn't make money so far.

So I guess I'd love some clarity on that.

Space is a geopolitical phenomenon.

topic in a lot of ways.