Nicolas (Nick) Owens

speaker

86 appearances 1 recordings 1 series first heard Jun 2026 last heard 9 Jun

Nicolas (Nick) Owens’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.

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The Master Investor Podcast with Wilfred Frost · Should You Buy Space X? | IPO Special · 9 Jun 2026 podcast

That's correct.

Thanks for having me on Wilfred.

Our analysis shows that the cost advantage that SpaceX has built both in the, let's call it core rocket launch business and extending into the Starlink satellite business is quite impressive.

And just the sheer volume of times they've launched and items that they've launched puts them ahead in terms of the economies of scale that they've been able to achieve to a degree that I think it's unlikely

Any private competitor is likely to catch them anytime soon, because the more they keep doing it, they continue to build a cost advantage.

They do.

And I think it's also worth pointing out just how dramatic and kind of amazing what they've achieved is they haven't just achieved a cost advantage, let's say, for themselves.

They've passed this on to the world.

That is to say...

Things you as a satellite provider or a science provider would not even have considered launching into space 10 years ago, now it's affordable.

So it literally changes the math about what is even considered viable as a space-based item.

It is, it's profitable and has, I think, very promising growth prospects.

And given the, I mean, we see it essentially as a telecoms business and the unit economics, when you've got the infrastructure in place, adding a customer comes at very low incremental costs.

So that, and yeah, which is similarly true for terrestrial telecoms, but there's some interesting features of Starlink that make it also very interesting.

I think the key here is,

their ability to grow the customer base and add revenue at a fast clip is dependent on them adding more satellites.

So they're at around 10,000 satellites.

They need 15,000, or I think they can get to 15,000 in their current regulatory approvals.

And that ultimately getting past that and continuing to launch these does depend also on the Starship

which has a higher launch capacity being viable and reusable, which we think is highly likely, but not guaranteed, hasn't been proven yet.

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