Jared Isaacman

So if we want to see space really grow and all these commercial space companies that have created an economy here on Earth but may not be sustainable, we need to figure out how we can unlock value from that unique environment of microgravity.

And we don't have good answers for you.

I want them all to succeed, but the simple reality is, other than what SpaceX is doing with Starlink and their launch vehicles, I don't think any of them are profitable.

Actually, I would think for most of the names that you've rattled off, I think almost none of them have any revenue.

I mean, look, Boeing is, you know, their Boeing space systems, every quarter loses billions of dollars.

And that's like an established legacy player with real government contracts.

I don't know if anyone else, Blue Origin isn't profitable.

Rocket Lab isn't profitable.

They're all negative earnings.

You know, the point is, is there's all these commercial companies that are all endeavoring to do something in space, and none of them have cracked the code on anything that generates value other than Starlink.

It's not like me saying, like, winner take all, Starlink.

Not even close.

I wanted all the work, and hopefully, as the cost to be in space comes down with Starship and New Glenn and...

Rocket Lab is working on a big neuron, their big vehicle, and Stoke is working.

I hope it all works out.

But I'm just saying, other than Starlink, the space economy is unchanged for 60 years.

It's launched observation and communication and almost entirely paid for by world governments.

That's not good.

I think, I mean, look, you've got SpaceX, Rocket Lab, ULA, Blue Origin soon.

You got Firefly.