Hugh Lam

So they're doing a lot of things in-house and SpaceX is a great example.

They're kind of across that value chain.

I think the case is there, but it's pretty niche.

I think tickets are going to be in the hundreds of thousands or millions of dollars, even as the cost of launching decreases over time.

Katy Perry has effectively been into space.

Again, we know who Katy Perry is, and she's a famous celebrity with deep pockets.

You know, we might see ultra high net worths, you know, going into space and that sort of thing.

But in terms of, you know, broad commercialization, as we've talked about right now today, it's all about connectivity.

Because I mentioned the billions of people out there in the world with no access to internet.

And, you know, that's effectively going to be a key revenue driver, I think, for the space economy today.

Yeah, I think you're absolutely right.

I think that, of course, weather, we use apps on our phones to check the weather every day, and part of that is used by satellite technology.

Defense is another big one, and in a world increasingly driven by geopolitics, definitely these satellite providers are seeing a lot of real tailwinds.

Some of these providers are actually providing or tracking ship vessel movements throughout the Stratiform Moose.

Again, that's quite a poignant topic.

You've got defense and you also got GPS and navigation, as you mentioned, too.

That's absolutely a key driver that we're seeing.

With that sort of use case, typically we see MEO satellites being used.

Those are the ones that sit between LEO and GEO satellites, kind of right in that sweet spot.

Okay, so it's effectively like a transportation company for satellite.