Hugh Lam

Nice.

Yeah, sure.

I think when we probably think about the space industry, many people would be familiar with rockets and satellites in orbit.

And they are a large part of the ecosystem, but similar to the tech ecosystem, it's not dissimilar in the fact that there are layers within the value chain.

So for example, beyond rockets and satellites, there are

but also data providers that sit on top of that.

And so you have companies like PlanetLab, which we'll talk about a little bit later on, but using those satellites to map the earth and that can sell that proprietary data to different industries across the world.

So yeah, you've got launch services, which is effectively companies that are actually launching rockets up to space.

You've got people that make

the actual satellites that go into space and then you have you know sort of ancillary services around that and you know moving forward there might be blue sky scenarios where you we might see revenue streams come online from space tourism and data centers um etc but right now it's all about satellites launch services broadband mobile um iot which is internet of things and that's really driving a lot of interest in the space economy today

You know, there are probably four key ones.

The first one is really to do with what we call in the industry launch costs.

So launch costs have fallen over time.

As it sounds, it's the cost to launch a rocket into space.

So to give you a few numbers, we all know SpaceX, they have a few rockets.

So Falcon 9, that's one of their rockets.

The launch cost back in the 2010s was around $12,000 per kilogram.

Now that's come down to a range of $2,000 to $4,000.

So from a percentage perspective, that's really come down a lot.

And with the new sort of rockets out there, again, owned by SpaceX, Starship,