Richard Waters

sales service, I doubt fully, but there is a massive global market, communications market.

And if you look at the projections for that out over 10 or 15 years, this could be a huge, huge communications business.

Second point, data centers in space, sounds like science fiction.

Musk isn't anyone doing this.

Everybody in the tech industry wants to do this.

Google has its first test going up next year, potentially.

And so this is physics that's been proven.

If you can get your data center

up closer to the sun in a sun-synchronous orbit so that your solar panels are always exposed to the sun, you get a massive improvement benefit in terms of energy consumption.

You're in the freezing cold of space where you can radiate heat out through massive radiator panels.

So it all comes down to the cost.

Can you actually afford to put these things up there in orbit?

And Musk is the leader in launch costs when he's working out on that.

So you tell me, Rob.

You tell me.

Can I offer a California view to this just for a moment?

Yes.

Leave aside the actual valuation for a moment.

For years, Wall Street's been criticized for not backing long-term bets.

The US has underinvested.