Richard Waters

Well, it's very nice to be with you.

And by the way, I should say, I'm not in San Francisco.

I'm in San Diego today.

I'm in the FT satellite office.

Well, Rob, it was a year when there was a stock market crash.

I can tell you that much.

And we're not talking 08.

But I'll tell you what.

But I will tell you, it was 1987.

I was there a month before the 87 crash.

You may not remember that one, but it was big at the time.

Oh, I'm getting the whole personal grill here.

So I was covering tech out of New York in the late 90s when tech, telecom, and media were going to emerge in some big thing, and it was part of the dot-com bubble.

I've seen a few.

But I've been in California since 2002, so I've seen a few cycles.

I think the way we should think about SpaceX as a stock is it's going to be Elon Musk's kind of field of dreams part two.

Tesla was an electric car company that turned into many other things.

SpaceX is a rocket company that is turning into other things before our eyes.

It started out as an incredibly successful, the first private company to put a rocket into orbit.

It's an extraordinary thing.