Latest / AST SpaceMobile Podcast / Anpanman - Breaking $124: The AST SpaceMobile Supercycle

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Anpanman - Breaking $124: The AST SpaceMobile Supercycle · AST SpaceMobile Podcast

• 0:06
  This is the AST Space Mobile podcast.
• 0:10
  We will just basically turn your phone be seamless regardless of
• 0:14
  where you are. We don't want the user even to
• 0:16
  know that it's connected by satellite.
• 0:21
  Listen, the opportunity that we have is very, very, very large.
• 0:28
  Everyone, thanks for joining this ad hoc space at 11:00.
• 0:35
  I'm going to try to keep this somewhat short, but I always say
• 0:39
  that at the beginning of these things and then always go over
• 0:41
  pretty long. But I am pretty tired.
• 0:45
  Yesterday I was up late and this.
• 0:49
  This was part of the call I guess.
• 0:50
  For this morning when? I had tweeted out that I had
• 0:54
  dreamed. That the stock price was going
• 0:56
  to break 124 I yesterday I was up late, I think it was until 11
• 1:01
  AM. And one of the things about
• 1:04
  investing is that you, you can fill your time pretty easily
• 1:08
  because there's always a, a insurmountable like wall of
• 1:15
  opportunity where, and, and this is the, the one of the like
• 1:19
  positive things about investing, but also one of the things that
• 1:23
  can really drain you as well is that, especially when I was
• 1:28
  working professionally, you always thought that if I spend
• 1:31
  additional time and try to learn more about a particular position
• 1:35
  or get some type of edge, like a funny story, I, I used to, when
• 1:40
  I had my, when I was at, in the hedge fund industry.
• 1:43
  And I remember there was one year where I was always looking
• 1:47
  at my phone and looking at my Bloomberg app, just checking to
• 1:51
  see if. News was going to break because
• 1:52
  I I covered a lot of. Event driven situations and for
• 1:56
  M&A like you're always looking for rumors, whether that's from
• 1:59
  the Wall Street Journal, Bloomberg or what have you and
• 2:03
  if something was breaking you wanted to be on top of it and
• 2:06
  get ready for it for the next morning or that evening and and
• 2:11
  so I'd. Always check.
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  I just had this. Terrible habit.
• 2:13
  And my wife would always reprimand me for it, but I would
• 2:16
  always be checking my phone. And at one point there, there
• 2:19
  was a time when Bloomberg, the IT people reached out to me and
• 2:23
  they asked me these questions like, hey, were you logged in?
• 2:25
  Were you checking news here and there?
• 2:27
  And, and through these questions, I started to figure
• 2:30
  out that they were seeing if I was scraping their news because
• 2:36
  they were afraid that maybe I was taking their information
• 2:38
  and, you know, using it or selling it or doing something
• 2:41
  else. And then I told them, no, I'm
• 2:43
  actually just a loser. I I keep checking information at
• 2:47
  all hours of the night. And so, yeah, that's The funny
• 2:50
  thing about investing is that if you want there's, there's you
• 2:54
  could basically work 24/7, which I'm kind of scared that there's
• 2:58
  these proposals to have the markets open 24/7.
• 3:01
  I think that's pretty that would be really bad for mental health
• 3:04
  and yeah, for work life balance. But.
• 3:07
  But yeah, I, you know, when I do have some free time, I will, I
• 3:11
  will take a look at whether it's situations that I'm involved in
• 3:15
  or new ideas, you know, I'll spend some amount of time on
• 3:18
  that. And more recently, because the
• 3:21
  market has been doing well and there's all these other ideas
• 3:24
  that are floating around, people have been asking me to look at
• 3:26
  them and, and I'll take a look at some of them.
• 3:28
  But anyway, kind of, I guess going off on tangent, but last
• 3:32
  night I was up till 1:00 AM and then I decided to call a night.
• 3:35
  And when I stay up that late, I often times will not get good
• 3:40
  sleep and I have to wake up early because the kids get up
• 3:42
  early as well. And you know, it's my job to
• 3:45
  make breakfast and, and get them ready for school.
• 3:48
  But I think I woke up at like 3:50 AM because I used to cover
• 3:53
  Europe. And so I have this habit of
• 3:55
  waking up early for the European Open, even though I don't do
• 3:58
  anything with Europe now. But I woke up and I couldn't,
• 4:03
  you know, it was hard for me to go back to sleep.
• 4:04
  So of course, I checked news, which is bad because then you
• 4:07
  start, you know, getting your brain working and it's hard to
• 4:10
  go back to sleep. And so I tried to put myself
• 4:13
  back to sleep. And then during one of these
• 4:15
  periods of, you know, 20 minutes of sleep or 30 minutes of sleep,
• 4:19
  that's when it, I had this like vivid picture that, oh, AST is
• 4:23
  going to break 124 today. And it was like very bizarre.
• 4:28
  And so that's when, when I finally did wake up, I think it
• 4:32
  was like 610 or 615 when I tweeted, but I was like, Hey,
• 4:35
  you know what, this is kind of fun.
• 4:37
  I'll just tell people what happened.
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  Like I dreamed that we would break 124 today.
• 4:41
  And so I tweeted that and then I went back to sleep or tried to.
• 4:45
  And then of course, I got up at 6:50 and then.
• 4:48
  Did did what I had to do. But it was kind of funny
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  because. Over the course of the.
• 4:51
  Day, you know, stock was strong and.
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  And of course, various people were.
• 4:57
  Speculating, oh, why is the stock strong?
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  Well, maybe maybe you know, any number of catalysts we've we've
• 5:04
  talked about, which I'll cover later in this, in this in this
• 5:08
  space, but any number of catalysts can be coming up.
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  But one of them which kind of stood out once which base mob
• 5:15
  person had found the, the FCC meeting, but the, the meeting
• 5:20
  between AT&T, Verizon, Firstnet, Dave Marshakov, RKF and then of
• 5:27
  course, AST they met with, with the FCC.
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  And so that was a pretty important, you know, data point.
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  And I, I tweeted it and the stock didn't do anything.
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  And I was like, hey guys. This is this is really
• 5:40
  important. You guys should pay attention.
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  This is Alpha and I'll talk a bit more about it.
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  But that meaning of itself given the back and forth between the
• 5:51
  company and and the FCC and of course the ending of the comment
• 5:55
  period in early October like that was a tell tale sign.
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  Like we're pretty close, pretty close to the end, end game for
• 6:02
  the US approval for U.S. market application, which is a huge
• 6:07
  deal and I'll talk more about it later, but.
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  But yeah, it was kind of fun just seeing the stock price kind
• 6:13
  of going, going back and forth and.
• 6:15
  Today was a bit of a volatile day, especially with the Fed
• 6:19
  decision looming. And so the stock was strong.
• 6:22
  And then of course, like like ASD normally does it it sold
• 6:25
  off, came back down and then it moved back up and lo and behold,
• 6:30
  it it got to 1. 21/21, 1:20. 2 And I was like no.
• 6:34
  Really, it's going to happen. And it happened it it broke 1:24
• 6:38
  today. So I think the high was 12432.
• 6:42
  And and it was funny because I I'd come across the.
• 6:46
  The the. The meme of Fat Vance dancing
• 6:50
  and I think it was like 2 days ago somebody posted that meme of
• 6:54
  him dancing and saying like, oh, this is what happens when you
• 6:57
  get 2 two sticks of of 16 gigabyte RAM for really cheap or
• 7:02
  something. And they had some dancing and,
• 7:05
  and I was like, oh, I'm going to take that because one day it's
• 7:07
  going to be useful. And of course I didn't realize
• 7:09
  that it was going to be today, just two days later.
• 7:13
  So, so that was fun. And yeah, I, I think part of me
• 7:18
  doing this base is just to memorialize the fact that we've
• 7:22
  reached this all time high. I mean, 12432 intraday high,
• 7:26
  which is insane. And closing price 1/21/23, an
• 7:32
  all time high. And so when you take a step back
• 7:36
  and thinking about, think about where we've come from, yeah,
• 7:39
  it's pretty crazy. Like, you know, of course, like
• 7:42
  some people day-to-day, the stock price is down, it'll be
• 7:46
  up. Obviously there's still some
• 7:48
  decent amount of volatility, but sometimes I have to remind
• 7:51
  people like slap them around. Like, hey, did you know that
• 7:54
  today? The stock moved like 6 market
• 7:57
  caps worth of AST back in 2024. So chill out.
• 8:01
  Like it's, it's we've come a long way, relatively speaking.
• 8:07
  Yeah, there's going to be some, some volatility.
• 8:09
  It's a feature, not a bug. And just get used to it.
• 8:12
  It's all right because we're at this point where and Cooke and I
• 8:17
  talked about it after the close today.
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  We're at this point. Where a lot of the risk.
• 8:24
  You know, a lot of things have been been de risked and when he
• 8:27
  talked about this past weekend in his space about, you know, if
• 8:33
  you have one satellite bricked or something bad happens, it's
• 8:36
  OK, the company can survive that.
• 8:38
  Like it's actually at some point we should all prepare ourselves
• 8:41
  for one satellite or two satellites or whatever it is
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  like eventually not working, hopefully not in the way that
• 8:49
  the company approaches, you know, production and how they.
• 8:52
  Execute, I don't. I don't think that's a high
• 8:54
  likelihood, but it's it's possible, but that's not like a
• 8:58
  company ending type of, you know, event versus.
• 9:03
  If we had. Lost Blue Barker 3 during that
• 9:06
  period of uncertainty in the financial markets that could
• 9:09
  have been a an extinction type of event or maybe not
• 9:13
  extinction, but definitely, you know, the company would have
• 9:16
  been in a really tough spot and would have to raise money at
• 9:19
  really bad levels and you know, I don't even want to think about
• 9:22
  it but. But now we're at this point
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  where? A lot of things have been de
• 9:26
  risked and a lot of a lot of things near term literally in
• 9:31
  the next few weeks are going to be de risked further.
• 9:33
  And so that's why I think the stock is a bit could.
• 9:37
  You to build a. Base and you've got this
• 9:38
  tailwind of of this administration wanting, you
• 9:43
  know, space superiority and. I I joke, I I tweet.
• 9:46
  Like, hey, it's not that hard guys.
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  Just look at this. Which is true.
• 9:50
  It's it's. It's just like someone playing
• 9:54
  AI themes last year. You just buy these things and
• 9:57
  you just hold on to them. And it, it was funny because
• 9:59
  like, there's this one Twitter account who's a hedge fund guy.
• 10:03
  His name is Egg, century old egg credit or something like that.
• 10:07
  But he was, he had tweeted, Oh, maybe I should write a short
• 10:11
  thesis on AST. And then I responded to him.
• 10:13
  I was like, yes, please bring it on with, you know, with the the
• 10:18
  Montgomery Burns meme of him saying excellent, but and then
• 10:24
  cook kind of egged him on a little bit too, no pun intended.
• 10:26
  But then this guy was like, well, no, I'm not going to be
• 10:28
  short this thing. I'm actually going to be long.
• 10:30
  He's like, I don't believe in this company, but I'm not dumb.
• 10:34
  I'm going to be long AST heading into the SpaceX IPO.
• 10:38
  And that was actually a change in tone.
• 10:42
  And that's something that. I would expect right because of
• 10:44
  the hedge. Funds, I mean.
• 10:47
  For the smart guys who? Actually want to make money,
• 10:53
  even if you don't believe in something, the last thing you
• 10:56
  want to do is like short it, right?
• 10:57
  You don't want to short into a huge deluge of, of catalyst and
• 11:03
  tailwinds that are going to push a stock against you.
• 11:06
  And if you're really smart, if you can actually kind of get
• 11:09
  over your bias of I'm smarter than these retail guys and you
• 11:13
  know, I'm going to own this thing or I'll I'll figure out
• 11:16
  way adjust it ways to justify owning it.
• 11:19
  Then you actually go long and you make money, which it's
• 11:24
  pretty astounding. Like if you think about some of
• 11:27
  the short sellers over the years, whether it's Kerris Dale
• 11:31
  or yes, who is it? Gosh, I forget Lakeside Lake,
• 11:38
  Lake Lakeview capital, I forget their name, Anthony Boza or like
• 11:42
  any of these guys, right? Like they probably.
• 11:45
  Like for let's say. Kerrstale, for example, they
• 11:46
  wrote this long report and they made money.
• 11:49
  I think the stock went that day. They put the report out.
• 11:52
  They probably shorted at an average of 1110 bucks.
• 11:56
  Stock went down to like maybe 6 or 7.
• 11:58
  So they made like a decent amount of change.
• 12:01
  It was a one time thing. They made money and they
• 12:03
  probably traded it around here, there and probably took a
• 12:06
  little, a few crumbs here and there over the course of the
• 12:09
  years. So I remember like even after
• 12:12
  the Block One launch, they of course, Bloomberg interviewed
• 12:16
  them as part of this, the Seminole events and they're
• 12:18
  like, Oh yeah, we're, we don't think this changes anything.
• 12:21
  We're we're short. AST and I.
• 12:23
  Remember reading that. And I was just like.
• 12:25
  Oh, come on, really like you guys are around still, but I'm
• 12:28
  sure they've made like they probably made maybe 1-2 million
• 12:33
  dollars, $3,000,000. I mean they're they're not
• 12:35
  running a very big book. Their AUM is actually dwindled
• 12:38
  quite a bit. But I just didn't think like
• 12:42
  what happened? What would happen have happened
• 12:44
  if they or any of these bears, like for example, this guy
• 12:49
  Philip Lyle who works at SpaceX, he just continues to write.
• 12:53
  He's like a space enthusiast, but all he writes about is like
• 12:56
  negative shit on AST or Tim Farrar, Anybody listening to Tim
• 13:01
  Farrar? I mean, there's, there's a whole
• 13:02
  host of these people and they've just been writing negative stuff
• 13:06
  about the company. Like Tim Farrar has not written
• 13:09
  1 positive thing for five years. But all these guys like they've
• 13:15
  spent so much time and energy fighting this company and the
• 13:20
  stock is like at 122 dollars. Like they wasted so much of
• 13:27
  their life dedicated to putting like fear, uncertainty, doubt,
• 13:33
  you know, hurting, trying to kneecap this company and it
• 13:36
  failed And and like me and you. We spent so much.
• 13:41
  We spent. You know, obviously more time
• 13:43
  than them. I don't know, some of them are
• 13:45
  pretty crazy, but but we have something to show for it.
• 13:48
  Like, we've made a ton of money. But these guys, they spent so
• 13:54
  much time like. You know, there, there.
• 13:56
  Was a point I'm at the. Age where if I spend too much
• 13:58
  time on Twitter my eyes start hurting.
• 14:00
  Like that's what these guys are doing.
• 14:02
  And they have nothing to show for it, right?
• 14:04
  Like they spent so much, you know, Tim Furrow talks about
• 14:08
  rent free. They spent so much time on it
• 14:11
  and it was for nothing. And so sometimes I think about
• 14:14
  that, I'm like, man, how, how shame does that feel?
• 14:17
  You must be, you know, it's it must be a really hollow feeling
• 14:21
  that you've dedicated precious time of your life, which is
• 14:26
  limited. And it's very valuable to
• 14:29
  spreading fear and certainly in doubt about this company.
• 14:32
  And and you were wrong and and they continue to do that.
• 14:37
  Today, right? Like the free speech?
• 14:40
  This other guy, like they, I don't know, it's, it's just,
• 14:43
  it's bizarre. But anyway, yeah, so, so today
• 14:49
  was pretty nuts. Like the fact that we hit 124.
• 14:53
  Like, on one hand, I was really happy and, you know, people were
• 14:58
  excited. On the other hand, it wasn't
• 15:00
  like, it wasn't like the time when Verizon, you know, when we
• 15:05
  started the deal with Verizon and we were gapping up every
• 15:07
  day. Now it kind of feels like, Oh
• 15:09
  yeah, that's that's what it should be doing.
• 15:12
  And and then I'm like, oh, well, you know, like tomorrow or next
• 15:15
  week, like I think we're going higher.
• 15:17
  So I don't back in the day when there was, you know, in 2022 and
• 15:23
  2023-2024, I mean all those years.
• 15:26
  There was always this. Fear and kook kook is like he
• 15:31
  still has this PTSD like he's, he's like one of these guys who
• 15:35
  grew up during the depression, like he'll keep that mentality.
• 15:39
  And so when he sees the stock gap up or move up, he's always
• 15:43
  like, oh, he always has in the back of his mind like he's
• 15:45
  afraid that it'll come back down.
• 15:48
  And so he, it's unclear if he's good at handling the move up.
• 15:51
  And so, but for me, but, and, and especially now it's like
• 15:57
  that back in 2022 and 2023 that that happened for sure.
• 16:01
  Like the stock would move up and it was a trading vehicle and
• 16:03
  then it would it, it'd give up everything and move down and
• 16:07
  and. Of course, people.
• 16:09
  You know you'd have this like false dawn of oh man, things
• 16:12
  have changed. It's re rated and then and then
• 16:14
  of course, no, it's back then we thought oh these these these
• 16:19
  catalysts like getting blue arca three up.
• 16:20
  That's going to be a big unlock. No, it, the company was so early
• 16:25
  that it was a positive thing, but and you know, obviously
• 16:29
  there was like a, a positive reaction, but it was short lived
• 16:32
  because it was still early stage and early stage companies that
• 16:37
  trade in public markets, it can be tough, right?
• 16:40
  And so it's not sustainable, whereas now there's so many
• 16:46
  actual things that are happening and of course like the company's
• 16:50
  generating revenue and in this coming year, 2026 is going to be
• 16:53
  very big. Now we're experiencing what it
• 16:57
  feels like to be a more mature company, right where it's like,
• 17:00
  Oh yeah, these, these, these positive catalysts happen and
• 17:05
  the stock sustains and it keeps, it keeps like step functioning
• 17:08
  higher, like that's how it's supposed to work.
• 17:11
  And so, so yeah, I think, I think from a mental.
• 17:14
  Perspective it it, probably take it.
• 17:16
  For most of us baseball, it it's it's a big adjustment and I
• 17:21
  don't think it's something that it's probably going to take
• 17:24
  some. Time to get used to, but for me
• 17:28
  I think I'm already there. Where I'm just like, oh, OK,
• 17:30
  yeah, like we're going to keep moving up and I'm cool with
• 17:32
  that. So.
• 17:34
  I did want to cover a few small things and then we can get into
• 17:38
  some catalyst. And so one thing I wanted to
• 17:40
  talk about and I, you know, I try to avoid this, but I was
• 17:45
  like, you know, I'll talk about it.
• 17:46
  But recently there was like there's been like some political
• 17:51
  back and forth stuff on AST. And I just want to say like, I'm
• 17:57
  a nice person. I do have political views, but I
• 18:01
  don't share them. And I try to be very apolitical
• 18:04
  on Twitter because people, and this is my MO, right?
• 18:08
  Like when I post stuff on Twitter, it's focused on
• 18:13
  investment, investing, some life stuff, you know, like I'll share
• 18:18
  things that are, that are, that I find joy in sometimes, but I
• 18:21
  avoid politics because it's like this entire platform is full of
• 18:24
  politics. I don't want to, when people
• 18:29
  follow me and they, you know, they, I, I'm, they're not
• 18:34
  looking for, I hope they're not looking for a political advice
• 18:38
  or angle or view, because that's not what I'm about.
• 18:42
  Like, we're here for this specific platform and for what
• 18:45
  I'm doing. And what I find joy in doing is
• 18:48
  investing and sharing ideas and, and, you know, talking about my
• 18:52
  experiences and helping people out.
• 18:53
  If I can't, hopefully, hopefully it's helping people out, but I
• 18:57
  avoid politics, right? And I know people have reached
• 19:00
  out to me from time to time. And, you know, sometimes I'll
• 19:03
  comment like if something bad has happened, like when Charlie
• 19:07
  Kirk got murdered, I was like, man, that's really sad.
• 19:09
  Like people getting assassinated, that's not good.
• 19:13
  And then I got a bunch of blowback from people like what
• 19:17
  what about this person, that person?
• 19:18
  And it's like, I'm not a I'm not a political figure and that's
• 19:23
  not what I'm peddling, right? I just, I'm just making a
• 19:26
  comment as a human. But you know, it's like when
• 19:31
  people have asked me from time to time, like, hey, what about
• 19:34
  Palestine? What about Israel?
• 19:35
  Or what about? You know.
• 19:36
  The recent stuff that's going on and it's like, I'm not a I'm not
• 19:40
  a politician. I don't spend a lot of time
• 19:42
  delving into politics. I actually, if anything, I've
• 19:45
  moved away from politics because it's just too exhausting.
• 19:50
  But it's almost like that. It's almost like, what was it
• 19:56
  that that comedy skit with gosh, why am I forgetting his name?
• 20:01
  But it's it's a joke where everyone's like.
• 20:04
  Oh well. What?
• 20:04
  You know something bad happens and then it's like, well.
• 20:06
  What would job? Rules think and it's like who
• 20:10
  cares what Ja Rule thinks? Like for me too, it's like who
• 20:12
  cares? Men thinks like how I'm not an
• 20:14
  expert. I don't I don't follow current
• 20:17
  events closely enough to have an impactful opinion.
• 20:20
  And then someone who is of influence is not my job, nor do
• 20:24
  I desire to wield politics or try to influence people.
• 20:28
  Right. Like it's not Yeah, it's just
• 20:31
  something I avoid. And for me, like whether it's
• 20:35
  for the, the companies I've invested in, the friends that
• 20:38
  I've made, like I just try to put politics aside and, and for
• 20:41
  space mob, like there are people like in our, we do have some
• 20:45
  like Twitter chats and some other, you know, there's other
• 20:48
  groups like there's discord and others.
• 20:50
  Like one of the things that we all try to do is not like
• 20:53
  politics. The only times like politics
• 20:55
  actually comes into discussion is if it impacts your
• 20:59
  investment, right? And so if there's policy or
• 21:02
  legislation, then then yeah, you can talk.
• 21:05
  A bit about that. But when it comes to people's
• 21:08
  opinions about politics, like I avoid that stuff 'cause I'm the
• 21:11
  last thing I want to do is like start flooding people with my
• 21:14
  opinions on politics. And it's like if you seek that.
• 21:19
  First of all, like. Again, I'm just one person with
• 21:22
  a very unique background and experience and mine is very
• 21:26
  different than yours. And if you need political
• 21:29
  guidance from somebody else, then you're not doing it right.
• 21:33
  You got to think on your own. And, and so I think like for
• 21:37
  other people, yeah, if you're here to follow me, you're
• 21:41
  probably wanting to hear about AST Space Mobile or T1 Energy or
• 21:45
  or Bridger or some of these other investment ideas or new
• 21:48
  stuff or I'm going to talk about warrants on Friday and so.
• 21:52
  If you want to do politics like go follow the.
• 21:56
  You know the talking heads, that's not that's not me so and
• 22:00
  you know, people will try to make.
• 22:01
  Because I have a lot of. Followers like people try to
• 22:04
  sometimes make me feel bad and they're.
• 22:05
  Like, hey you? Well, you should.
• 22:06
  Stand up or you should do this or that.
• 22:07
  And it's like, no, I'm not, I'm not going to do that because
• 22:10
  that's not what people are following me for.
• 22:13
  If I became a pundit, then sure. But that's, you know, and I'm
• 22:17
  not going to. Yeah, sometimes I feel bad and
• 22:20
  it's like, maybe I should say something about this particular
• 22:22
  topic or another. But then I remind myself like,
• 22:24
  that's not I'm not here to peddle like certain views and
• 22:29
  make people feel awkward or like they need to follow me or like,
• 22:34
  Oh, I need to agree with him or I don't like that guy.
• 22:36
  Like he's, you know, he just agrees with me.
• 22:38
  And that's one that candidly, I think over the last five years,
• 22:45
  I've learned is that with space mob, there's people from all
• 22:48
  walks of life and I've learned to get along with everyone,
• 22:51
  right. And so because it's like we had
• 22:53
  this common interest, which is, you know, it's almost like our
• 22:56
  kid, this is company. And so I put, we put politics
• 23:00
  aside and ideology aside. And sometimes we disagree.
• 23:03
  Sometimes it can get messy. But at the same time, we all
• 23:07
  come together like we have this friendship and it's, it's
• 23:10
  bigger. It's beyond politics, right?
• 23:12
  And so you know, I. I respect people for their.
• 23:17
  Views and some and not, well, not everybody's every view, but
• 23:22
  but I just try to keep it tight into what I do, which is just
• 23:26
  investing. And so, so yeah, I just wanted
• 23:30
  to talk about that and I think, you know.
• 23:33
  If if there are people and I. By the way, like this is not a
• 23:37
  people can express views that they want to.
• 23:39
  They're free to do that. I'm not the I'm not the politics
• 23:42
  police like if. You are on Twitter.
• 23:46
  Doing investing and you want to have a political view and you
• 23:49
  want to go share it, then that's that's all you know, go ahead.
• 23:52
  That's that's fine, but there's probably a high chance that I'm
• 23:56
  not going to follow you because that's I'm trying to get away
• 23:59
  from that like that. I'm, I'm one of the people on
• 24:03
  Twitter where it's like, Hey, if you, if there's a way to just
• 24:06
  eliminate politics and like, one way to do that, for example, is
• 24:10
  to unfollow Elon Musk because then it's like.
• 24:12
  Oh, all of a sudden, like there's not as much.
• 24:14
  Political stuff going on, but you know, I try to follow just
• 24:18
  investment related accounts or accounts of interest.
• 24:22
  But yeah, that's, that's up to you and you can curate like who
• 24:25
  you want and that's fine. And I'm not again, I'm not here
• 24:29
  to push political views on anybody.
• 24:31
  I hope, I hope people don't feel that way.
• 24:33
  And and when I use like today, JD Vance dancing, it's not as if
• 24:37
  like I'm a huge fan of him or I hate him any of those things.
• 24:40
  I I just thought the meme was funny.
• 24:42
  So anyway, but that's my little blurb on politics.
• 24:47
  I have some people have asked me about, you know, why aren't you
• 24:50
  100% AST Space Mobile? Why do you talk about other
• 24:53
  investment ideas? And it's just my personal
• 24:56
  preference, like AST, I've told people in the past like it's
• 25:00
  probably 85% or more of my public securities portfolio.
• 25:06
  And so, but I'm a, I'm an investor by, by heart and that
• 25:10
  was my career. And so I've got to keep my mind
• 25:12
  fresh. And when there's interesting
• 25:14
  stuff out there like I'll go, I'll go.
• 25:17
  Research it. Share those.
• 25:19
  Ideas as well. And so, yeah, it's just part of
• 25:22
  my DNA and it's fun. Like maybe you, you're not going
• 25:25
  to find the next Asds, but you might find some interesting
• 25:27
  ideas. And then I like to share those.
• 25:29
  And and so hopefully those those are good ideas.
• 25:33
  Sometimes they don't work out. But one thing I've learned
• 25:36
  though, is, you know, I run a very concentrated portfolio.
• 25:39
  So I only have, you know, maybe 567 ideas of size.
• 25:45
  And then I might have some trades here and there.
• 25:47
  But excuse me. But one good thing about that is
• 25:52
  if you're sometimes like there can be a dearth of news or like
• 25:56
  on Asds, some, you know, some people fall into this trap of if
• 26:01
  you're 100% all in on Asds and the stock is up, then people,
• 26:06
  oh, why is the stock up? Or if it's heaven, yeah, heaven
• 26:10
  forbid the stock is down. Oh my gosh, why is it down?
• 26:12
  Why is it doing this? Like why where the algo is
• 26:14
  killing me and, and why is God forsaken me?
• 26:17
  It's like, no, it's, it's just part of market volatility.
• 26:20
  It's OK. And sometimes, like if you have
• 26:23
  a few other positions that you follow, then that doesn't, you
• 26:28
  don't feel this. Yeah, the, the the gravity of
• 26:33
  just one position where it's like, it's almost like a
• 26:35
  distraction. Like you have these other things
• 26:37
  that you're following as well. And so you know, if VS CS down,
• 26:43
  I don't, I mean making something up like if it's down five 6% and
• 26:46
  it's pretty brutal, but then this other position's up a few
• 26:49
  percent, then mentally you can kind of.
• 26:53
  Get yourself to this point where you're like, oh, there's
• 26:55
  something positive. Going on and I'll focus on that
• 26:57
  and not really worry about ASD because I know it's volatile and
• 27:00
  it may move for no reason. And so having a few other ideas
• 27:04
  can help mentally. And if anything, you know, like
• 27:09
  I've said, there are some people who, who are 100% concentration,
• 27:12
  which which is totally fine. Like I'm not, I'm not against
• 27:15
  that in any means. But sometimes you'll, you'll
• 27:19
  have these, these again, like these people who will, you know,
• 27:24
  every, they'll, they'll watch every tick and every tick has to
• 27:28
  be explained. And so sometimes it's good to
• 27:31
  have a distraction. And it doesn't have to be
• 27:32
  investing. Like, hey, you can go out and go
• 27:35
  fishing, go run, do other things like there's instead of just
• 27:40
  like being glued to your, to your computer and watching the
• 27:43
  stock prices all day. But anyway, but yeah, I, it's
• 27:47
  just part of who I am. Like I, I'm always looking at
• 27:50
  investment ideas and, and sharing them and, and just, it
• 27:54
  just happens. Like, there's quite a few
• 27:55
  interesting stuff, you know, interesting ideas.
• 27:58
  Going on right now so. Which which yeah, I enjoy.
• 28:04
  But anyway, going to the next topic, which is Catalyst and so,
• 28:11
  and that was the, the, the headline of this space, which
• 28:16
  is, you know, things are happening, it's happening,
• 28:19
  right? And so I think the first big one
• 28:21
  that I wanted to talk. About is this.
• 28:23
  Meeting with the FCC and so for those that saw I think it was
• 28:29
  January 23rd the company AT&T, Verizon, Firstnet and Dave
• 28:35
  Marshak who's a consultant who's been doing work for the company,
• 28:39
  they all met with the FCC and what was interesting about that
• 28:44
  meeting is that you know you. You have all the key.
• 28:48
  Stakeholders of the US that were there and this comes after you
• 28:54
  know the the company, the comment period for the US market
• 28:58
  application for supplemental coverage from space.
• 29:00
  That comment period ended, I think it was like October 6th
• 29:03
  and then there was like a short reply period and then response
• 29:07
  to that. Maybe it's like up until the
• 29:09
  second week of October, but I think it's and there's nothing.
• 29:14
  Typical, but usually you might have you know two to three month
• 29:20
  period where after the comments are closed then you'll have a
• 29:24
  decision potentially. And of course, like it depends
• 29:28
  on how complicated that decision is.
• 29:31
  But I mean, why is, you know, I was expecting that we would hear
• 29:36
  in regards or hear about our application sometimes towards
• 29:39
  the end of January or the first half of February.
• 29:41
  And so we're kind of there, right?
• 29:44
  And so that meeting, that meeting was on top of a few
• 29:49
  other meetings that have happened or letters or
• 29:51
  correspondence, but that's the type of meeting you want to see,
• 29:55
  right? So you have the stakeholders
• 29:57
  involved. Everyone shows up and it's not
• 29:59
  just like AT&T separately or Verizon separately, like they're
• 30:01
  there together. Which is pretty crazy.
• 30:05
  We we joke about, you know, the fact that they're, they're, you
• 30:09
  know, these. Two rivals are are sharing the
• 30:12
  same. Toothbrush or underwear, but.
• 30:14
  But yeah, that that's an important meeting, but it's
• 30:16
  important in the sense of. You know.
• 30:18
  This it's it kind of indicates like we're close to the end,
• 30:22
  right? Like maybe we're crossing the
• 30:24
  crossing the TS and dotting the IS the thing that you don't want
• 30:28
  to see in those meetings are and I looked at, you know, who the
• 30:31
  participants were. These were attorneys or, you
• 30:34
  know, representatives, but not the actual principles like.
• 30:38
  He didn't have John Stanky. Showing up or you know, senior
• 30:41
  executive showing up, but you had like, you know, attorneys
• 30:45
  there and, and they're basically kind of wrapping things up in my
• 30:49
  mind, right And so that's that's those are the types of people
• 30:52
  you want in that meeting. If you had the CEO of Verizon
• 30:55
  and AT&T showing up for that meeting, that would be a really
• 30:58
  bad sign, right? Or not a really bad sign, but
• 31:02
  it's not a good sign, right? Because when you have really
• 31:06
  senior people showing up for those meetings towards the end,
• 31:09
  that means like there's something wrong and things are
• 31:12
  not going the what you want. And so if a bell was there and
• 31:16
  and stinky and. I apologize.
• 31:19
  I forget since there's a new CEO at Verizon to forget his name
• 31:23
  and you just look at here. So Dan, Dan Schulman, if Dan
• 31:30
  Schulman was there, if those three guys were there, that
• 31:32
  would not be good, right? But you didn't have those guys
• 31:35
  there. You had the you had attorneys
• 31:37
  and, and whatever else representatives.
• 31:39
  And so that's positive. It's very positive, right?
• 31:41
  And then today, after that letter was, was found by Space
• 31:46
  mob, there was a letter from AAST to the FCC on some follow
• 31:51
  up items about, you know, interference limits and, and,
• 31:56
  and that that one seemed very much like, here's a few, here's
• 32:01
  a response. To some of your requests and it
• 32:03
  it. Seemed like they were.
• 32:03
  Just tightening things up. So I think we're pretty much
• 32:06
  there. I mean, we might see a few more
• 32:08
  letters and you know, it could be as soon as tomorrow, it could
• 32:12
  be Friday, it could be next week or could be a week, week after.
• 32:16
  But we're pretty damn close, right?
• 32:18
  And so but. What does that mean?
• 32:20
  Like I was talking to Kook about this earlier and it means that
• 32:26
  we will have just like, you know, by oh, by the way, like.
• 32:30
  Starlink just got approved for their directed device
• 32:33
  consolation. I guess it was like a.
• 32:34
  Week or two ago and and of course everyone has seen Brendan
• 32:40
  Carr his his positive comments about wanting to speed and be
• 32:44
  supportive of American innovation around directed
• 32:47
  device like not only cutting red tape for approvals but freeing
• 32:51
  up even more spectrum which. By the way, like.
• 32:53
  Starlink needs more spectrum for their solution to work, so
• 32:57
  obviously they went out and got some.
• 32:59
  But it's it looks like they're probably.
• 33:03
  Sorry, I'm just drinking some water.
• 33:04
  But it looks like they're. Probably advocating to get more
• 33:08
  spectrum freed up because, you know, I think their their
• 33:13
  solution is going to need it if they want to do broadband.
• 33:16
  But the fact that Sherman Carr is.
• 33:19
  You know, pounding the table that you know we want American.
• 33:21
  Leadership, he's talked about Starlink, he's talked about ASD
• 33:24
  space mobile, I mean the writings of the wall, like the
• 33:27
  approval's coming. It's just a matter of is it
• 33:31
  tomorrow, is it Friday, is it next week or the week after?
• 33:35
  Like we we say it's inevitable. And so that's going to be a huge
• 33:40
  watershed moment for the company because.
• 33:42
  For those that have been around. Since 2021-2022, like around
• 33:47
  that time, there, there were just so many naysayers who
• 33:51
  doubted that we would get U.S. market access, right?
• 33:55
  And so that's really valuable. Like Starlink has that, Amazon
• 34:00
  Leo has that, and of course the legacy guys have that, but
• 34:03
  there's no one else who has. That and it it's a long process,
• 34:06
  I mean the company. First of all, it's application I
• 34:10
  think back in 2019-2020. And so this is a long time
• 34:14
  coming, right? And so having that in hand, what
• 34:17
  does that do? It depends.
• 34:19
  Like if they give full approval that then, you know, we can
• 34:24
  start chunking up satellites without getting special
• 34:27
  temporary authorities, which is the way that, you know,
• 34:29
  basically waivers, which is the way we've been doing it.
• 34:32
  But yeah, they would the. The FCC would approve a
• 34:35
  constellation of 248 satellites and then.
• 34:38
  Like go ahead. Yeah, go ahead, go, go do it.
• 34:40
  And it's not just a matter of launching them, but then you can
• 34:43
  turn on commercial service, right, as long as you're not
• 34:46
  harming other people. And so that's a very valuable
• 34:48
  like just to give you an example if the company.
• 34:52
  You know, heaven forbid fell on hard.
• 34:54
  Times the fact that we have that.
• 34:59
  That agreement U.S. market access, so you could actually go
• 35:02
  sell that to somebody else or someone would have someone would
• 35:05
  acquire you to then take over your your slots.
• 35:09
  Of course you they they couldn't do something that's totally.
• 35:12
  Different, but within the parameters of that grant.
• 35:15
  They could then start a consolation.
• 35:18
  That, you know, had similar, you know, technologies and uses of
• 35:22
  frequencies and things like that, but that that's really
• 35:24
  valuable, right. And So what I mentioned, you
• 35:28
  know, when I had the conversation with Kook, it's
• 35:30
  like. OK, well what if we get?
• 35:31
  This approval what? What does that?
• 35:33
  Mean and candidly, like in terms of stock price, I.
• 35:38
  I couldn't tell you and he couldn't either, 'cause, you
• 35:42
  know, maybe. The stock is up 20 percent, 30%.
• 35:46
  Maybe it's. Flat, maybe it was expected and
• 35:49
  maybe it's it's like sells off a little bit, but.
• 35:53
  Over the long run or, or over the medium and long term, I
• 35:57
  mean, it's a huge positive, right, Because it's a it's, it's
• 36:00
  a point of validation and regulators around the world.
• 36:05
  Will look to it. Right, because the US is, is the
• 36:07
  leader right now because of what the company's doing and what
• 36:11
  Starlink's doing. And so when people look at
• 36:15
  regulatory frameworks, they they look for EU s s lead.
• 36:19
  And so once that happens, then I think the dam will break open
• 36:24
  where other regulators like, oh, OK, so these guys have approval
• 36:28
  that, that that gives me a framework to evaluate this and,
• 36:32
  and eventually lead to approval for use in, in Europe, in Asia,
• 36:36
  Africa, wherever it is. And so that's a really big deal.
• 36:40
  And I think for naysayers, that's, again, that's going to
• 36:44
  be a huge Seminole event. Where it's like, oh wow, they
• 36:47
  got it. And that could be a catalyst
• 36:51
  too, for some of these funds. I know Fidelity.
• 36:54
  Has a small position, but you know, it's it could be something
• 36:58
  where you have long only managers who are waiting for the
• 37:02
  company to get validation for the FCC.
• 37:04
  The basically the go ahead right to launch commercial service.
• 37:07
  And so that's where you might walk in one day and and
• 37:10
  Fidelity, the portfolio manager manager there is like, OK, I
• 37:14
  want to buy a 5% position in the company V wap it over 3 weeks
• 37:18
  and. And you'll have this period just
• 37:20
  like you know, we saw in 2024 where the stock like just keeps
• 37:24
  going up non-stop. And that's because like
• 37:26
  institutions are are buying. I mean the the thing about.
• 37:30
  Fidelity for those who don't know, like.
• 37:32
  They do have a limit, they can only buy up to 15% of a
• 37:35
  company's outstanding shares, but that's really big.
• 37:39
  Like they if they have conviction in a company, they
• 37:43
  will go. To or it's not 15, they go to.
• 37:44
  14.9999 and percent or whatever it.
• 37:47
  Is but but yeah, that could be a big.
• 37:50
  Unlock or not, could be it should be a big unlock for
• 37:55
  probably a lot of institutions that are seeing in the sidelines
• 37:58
  who still think like, oh, this company's pre revenue and they,
• 38:01
  they don't have a commercial US commercial market access yet.
• 38:06
  And then when that happens, it's like, oh, the, the, the
• 38:08
  narrative completely changes, right?
• 38:10
  Because then it's like, wow, they, they actually got it done.
• 38:13
  The FCC is comfortable with the parameters in which they're
• 38:17
  operating in the technology and it's happening.
• 38:21
  It's not a pipe dreamer anymore. So, so that that is a very big
• 38:24
  catalyst. And when I think it was like a
• 38:27
  week ago. Actually, it wasn't a week ago.
• 38:29
  It was early. Was it yeah, maybe it was a week
• 38:32
  ago or no, it was the other day and and a week ago when I was
• 38:36
  like, oh, I'm adding torques like just some speculative
• 38:38
  upside. I was adding in part because of
• 38:42
  that. And then of course some of these
• 38:44
  other cows too, right. And so for those.
• 38:47
  For people that don't know, like I have a a large core position
• 38:51
  that I just don't touch in the company and then I do, I do
• 38:54
  trade around some shares. And some options as well.
• 38:58
  Most of that, most of that will happen in like retirement
• 39:01
  accounts because it's tax advantage, But I also do that in
• 39:04
  cash account. But I, I do that not as if you
• 39:08
  know, when I, when I, because there are some people who are
• 39:11
  like, whoa, why are you buying it 120 or whatever?
• 39:14
  You know, when I don't think I bought it 120, I think I bought
• 39:16
  it like at 112 is the highest I've paid recently and then like
• 39:21
  one O 11-O2 those those areas, but.
• 39:24
  Yeah, it's like, oh, well, I'm playing some of these catalysts,
• 39:27
  right? Because because of the great due
• 39:30
  diligence that face mop is is done, like we know that some of
• 39:33
  these things are coming up. And so I expect some something
• 39:35
  positive to happen, right? And so those catalysts are, for
• 39:39
  example, like BB6, you've got a whole host of people that are
• 39:43
  following the. The, the satellite and you know
• 39:47
  how much Dragon's experiencing because we've learned, and this
• 39:50
  is through due diligence, whether it was Blue Walker 3 and
• 39:56
  then of course, Block 1 satellites.
• 39:58
  You know, there's this, this pattern.
• 39:59
  I mean, it's not going to be perfect because these satellites
• 40:01
  are much bigger and they have a different unfolding mechanism,
• 40:04
  but there's some tail signs to know.
• 40:07
  When the satellite has unfolded. And if that's been successful,
• 40:11
  right? And Katzie did this in the early
• 40:15
  days for the Locker 3, where people were kind of, you know,
• 40:20
  they're biting their nails, right?
• 40:22
  So we were all wondering if the satellite was OK, if it had
• 40:25
  detumbled, detumbled, meaning it's stable and it's in the
• 40:28
  proper orbit. It's not like, you know, rolling
• 40:31
  over, end over and, or any of that stuff.
• 40:34
  And so that there, there is a way to kind of track these
• 40:38
  things. And, and in particular for the
• 40:40
  previous generation satellites, there was, you know, the, the
• 40:44
  initial unfold, which is in the bar configuration where if you
• 40:47
  can imagine your left and right arms go out for your body and
• 40:51
  that's the bar configuration. And then then your arms from
• 40:55
  there the, the array unfolds in two directions up and down.
• 41:00
  And so, but here for this, as we've speculated with block 2,
• 41:05
  it'll just be one large arm that goes out and then it will unfold
• 41:07
  in One Direction. So it's much, it's much simpler
• 41:11
  in design and so prone to less risk of complications.
• 41:15
  But you know, we'll have to see how that looks in terms of, you
• 41:20
  know, the data. And then once we see that, then
• 41:24
  you can apply that for future satellites, for Block 2
• 41:27
  satellites because they all will follow the kind of same pattern.
• 41:29
  But but yeah, that speculation is going on.
• 41:31
  I mean, BB 6 should be unfolding relatively soon or perhaps part
• 41:36
  of it is unfolded. There's been some speculation
• 41:38
  that. You know this satellite in
• 41:40
  particular has also. A.
• 41:42
  A tail that has a solar array for extra power.
• 41:48
  I think there's some speculation that maybe that's happened, but
• 41:50
  you know, the company is going to release it when it does and
• 41:54
  we'll get APR and and I'm not sure if they'll actually show
• 41:57
  video. Of it, they did show a little
• 42:00
  bit of it. Last time but.
• 42:02
  The the unfolding mechanism for this current design.
• 42:07
  Is is they? Want to keep it as proprietary
• 42:10
  as possible. So I'm not sure we'll see any
• 42:12
  video, but maybe we'll see a picture or two.
• 42:14
  But I I would expect. That to happen any moment so so
• 42:17
  that's exciting and then of course we've got Bluebird 7
• 42:21
  launch that's going to happen no earlier than the end of
• 42:24
  February. And so just want to remind
• 42:26
  people in in space speak no earlier means that the best, the
• 42:33
  best date something will go is at that set time.
• 42:36
  And so when you they say no earlier than the end of
• 42:39
  February, it could be February 2627, but then it's also most
• 42:45
  part or it's likely to happen sometime thereafter.
• 42:48
  So it could be March 1st, March 2nd, March 3rd.
• 42:51
  As we know, like launches are impacted by weather as because
• 42:56
  you want to have optimal conditions, especially for
• 42:59
  launching, you know, satellites that are lower, yeah, that are
• 43:05
  bigger in size and, and of course that are worth more to
• 43:08
  your constellation, You want to be very careful.
• 43:11
  The reason why Starlink doesn't do that or SpaceX doesn't do
• 43:14
  that is that they're, they're, they're checking up like batches
• 43:18
  and batches of these things. And so they the, the standard of
• 43:22
  when they will launch, whether you know, impact the impact of
• 43:26
  weather or solar flares or things like that, it's not as
• 43:29
  much of A consideration, but for us it is.
• 43:32
  And so, you know, I would expect that we'll launch maybe for
• 43:36
  Lucky by the end of February, but it's probably going to be
• 43:39
  really early March for BB7. And then the other things to
• 43:44
  look out for are batch 1 and batch 2, which are the, the, the
• 43:47
  tube, the, the pair of threes that will go up on Falcon 9.
• 43:52
  And sorry, I forgot to mention BB7.
• 43:55
  Most of you guys know this, but we'll be going up on Blue Origin
• 43:58
  New Glenn 3, which will be interesting because that's
• 44:01
  that's a new vehicle. They're reusing the booster.
• 44:05
  Never tell me the odds. And so part of the the Blue
• 44:08
  Origin program is to demonstrate and prove that they can reuse
• 44:13
  these boosters have a pretty quick turn around time and be
• 44:15
  successful doing that. And so this is going to be a
• 44:18
  very important mission for them and of course important for us.
• 44:21
  And then, you know, we should at some point see the shipment of
• 44:27
  two batches of three Bluebirds down to Florida.
• 44:30
  And there's, there's a number of theories of why that's taking
• 44:33
  longer than expected. I mean, the the most visible
• 44:37
  part would be that there's quite a bit of backup down at the
• 44:41
  Cape. You've got processing with the
• 44:44
  manned Falcon 9 mission that's going to the space station.
• 44:48
  And then you've, you know, you've got Starship, they're
• 44:50
  preparing to, to launch that as well.
• 44:52
  And so processing payloads, you don't, you wouldn't send down
• 44:55
  satellites if they weren't, excuse me, if the processing,
• 45:01
  you know, facilities were not ready to handle those.
• 45:04
  And so, you know, and, and I think obviously the company
• 45:07
  wants to avoid saying, well, we're ready, but SpaceX is not
• 45:11
  ready or vice versa. Maybe we aren't ready that
• 45:13
  they're ready, but you never want to, you know, you never
• 45:16
  want to throw your, your ride, your, your launch provider into
• 45:19
  the bus. And so, but I expect that to
• 45:22
  happen soon. And then of course, like we've
• 45:24
  got, we've got more golden Dome stuff that could be coming.
• 45:29
  I, I sent out this meeting today about the eventuality of Nancy
• 45:36
  Pelosi and Timmy Tuberville for our foreign listeners.
• 45:41
  These are two US senators. Pelosi, I think her, her
• 45:46
  reputation procedure, she's probably one of the best traders
• 45:49
  of all time, probably helped by the fact that she has inside
• 45:52
  information as a politician in the US, we don't have proper
• 45:57
  rules and, and controls in place to keep politicians from using
• 46:02
  their, their, their positions of privilege to using that to
• 46:08
  profit. And so, you know, there are
• 46:11
  these like investment services that follow the trades of
• 46:14
  politicians, which these politicians like, they'll report
• 46:17
  their trades, but it's on a delayed basis.
• 46:20
  And so you'll find out they might have a new position in the
• 46:22
  company, but it might be weeks in some cases.
• 46:25
  This one politician, I think it was like a news article today.
• 46:28
  She didn't disclose her trade until 100 days later.
• 46:31
  And she got slapped a fine of like a few 100 bucks.
• 46:33
  But anyway. But yeah, Nancy Pelosi and then
• 46:37
  Timmy Tuarel, Tommy Tuarel, who was a former coach at University
• 46:42
  of Alabama, He's he's a senator from Alabama, but he also has
• 46:47
  his penchant for very profitable trades.
• 46:50
  But I, I pointed that out as kind of a joke.
• 46:52
  But it's actually, I would expect we probably start seeing
• 46:57
  some politicians buy some space names, whether it's HT or Rocket
• 47:01
  Lab or some of these other names.
• 47:03
  Just given all the movement around Golden Dome, the NDAA.
• 47:07
  And then of course, like the various, you know, legislation
• 47:10
  that's being pushed around and, and, and money being granted, I
• 47:15
  would not be surprised to see some senators and, and
• 47:19
  representatives in the House like pick up positions in ASD.
• 47:23
  I'd be shocked quite candidly. I think it would be too hard for
• 47:28
  any of them to, to not have that itchy trigger finger and get
• 47:35
  involved. And so I I think.
• 47:38
  We should probably expect. That in the coming few months,
• 47:40
  especially after the FCC you know, grants U.S. market
• 47:44
  application. And there's probably.
• 47:48
  You know, some politicians who are close to who see that coming
• 47:51
  down the Pike and they're like, hey, I'm going to buy that, buy
• 47:53
  in front of that. So, yeah, it's, it's I, I think
• 47:59
  one, one thing that I try to remind people is that, and this
• 48:04
  is kind of related to politics, it's like, you know, this
• 48:06
  administration is focused on space.
• 48:09
  They want Golden Dome to be a reality before Trump leaves
• 48:12
  office. And so there's a kind of
• 48:14
  tailwinds, right? And actually, let me see, one of
• 48:19
  our space mob guys who works at a hedge fund shared this with me
• 48:22
  today, which I'm going to tweet out later.
• 48:24
  But it's, there's a study, I think McKinsey and Goldman Sachs
• 48:30
  did this study where they think the global space economy will be
• 48:33
  worth $1.8 trillion by 2035, up from 630 billion in 2023.
• 48:40
  And so, yeah, it's, it's kind of interesting because I think as
• 48:45
  most of us know, for the last several years, space was aside
• 48:48
  from SpaceX, which is, which was.
• 48:50
  Deemed the only. You know, serious company that
• 48:55
  was doing anything of that. Of note, all these other
• 48:58
  companies were kind of just too early in the stage of
• 49:00
  development or space is too small.
• 49:02
  It's very niche, but it's becoming mainstream and there
• 49:06
  are real investment dollars that are I mean it's happening now,
• 49:11
  right? Like you can tell the fact that
• 49:15
  was it, Trump signed the executive order for space
• 49:18
  superiority and he was like, I go back, but I think it was like
• 49:22
  the second or third week of December that came out and I
• 49:27
  could probably put an index together of all the space names.
• 49:29
  But you know, at that time, for example, AST was at 65 bucks
• 49:33
  because I remember vividly, like the stock had pulled back and
• 49:36
  then he signed the executive order and of course it was
• 49:39
  pretty volatile. It was interesting.
• 49:41
  We actually had this, I've talked about this before, but we
• 49:45
  moved away from these like three peaks, like 3 impulse moves to
• 49:48
  now we're just for the technical guys out there.
• 49:52
  We're on this like channel. All the way up.
• 49:55
  It's been, it's actually if you look at the early December, you
• 50:00
  know we've, we've made higher highs and higher lows, right.
• 50:04
  And so since that point in time, if you look at like any other
• 50:08
  space names, just look at the other space proxy.
• 50:12
  And I've mentioned this before, like Rocket Lab and AST
• 50:15
  basically not well, not all the time, but they, they do trade on
• 50:19
  top of one another. Like if, if AST is positive for
• 50:23
  the day and Rocket Labs down and AST stays positive, then Rocket
• 50:26
  Lab will eventually kind of, you know, recover.
• 50:30
  And vice versa, if AST is having a bad day, but Rocket Lab got
• 50:33
  upgraded, AST will eventually recover too.
• 50:36
  Or if one goes down, then the other one kind of goes down.
• 50:39
  And that's. Like day-to-day, but then over
• 50:43
  over like a longer time period. Obviously those two stocks have
• 50:47
  have the performance is is different a bit, but they
• 50:50
  actually do trade somewhat in line.
• 50:52
  And so I you know, when you look at the space industry and kind
• 50:55
  of newer space companies, I kind of view AC and Rocket Lab as as
• 51:00
  the kind of the two big proxies of the sector.
• 51:03
  Of course, other companies have have performed pretty well too,
• 51:06
  but since that December, you know, the executive order for
• 51:11
  space and priority. I mean, Rocket Lab was in the
• 51:13
  50s. Now it's like it 89.
• 51:15
  It's been flirting with 100. I mean, it did touch 100.
• 51:18
  But I think for some of these short sellers, and I've
• 51:22
  mentioned this before, like, you know, one thing you don't want
• 51:26
  to do is you don't want to be short names.
• 51:30
  However, you know, you depending on you can debate like the level
• 51:35
  quality of the names, but you don't want to short a sector
• 51:37
  that is thematically the place to be right and that space.
• 51:42
  And that's going to be that's going to be true heading into
• 51:46
  the SpaceX IPO. And then what happens after that
• 51:48
  IPO is unclear, but the demand is going to be there for for the
• 51:53
  entire sector. And so for people like I see TUT
• 51:58
  capital author for guys like valuations who shorted the
• 52:01
  company, I think looking at his post, I think he was short at 50
• 52:05
  at some point and maybe he's he was short at 70 like he's down
• 52:08
  big, right? And.
• 52:11
  You, you don't, I mean, it's one thing to kind of pick at a
• 52:15
  company in particular, but when the secular, secular trends are
• 52:20
  so powerful, you just don't want to be short those names.
• 52:24
  And then on the flip side, like you actually want to be long.
• 52:26
  And so I mentioned that one Twitter account who was saying
• 52:30
  he was skeptical of the company. He called it ask mobile or
• 52:33
  something. And then Kook was like, well,
• 52:36
  are you going to short it? And he was like, no, I'm going
• 52:38
  to go long because because I'm like, that's the trade.
• 52:42
  You need to be long AST and some of these other companies heading
• 52:45
  into the SpaceX IPO. And this is what I was talking
• 52:48
  about before where it's like the smart guys to understand how to
• 52:51
  make money and trade. They will be long and that's
• 52:54
  going to be the consensus trade, right?
• 52:56
  And so, and that's why I tell people over the last few weeks
• 53:00
  like have a plan right when, when the bankers, I think Musk
• 53:05
  was trying to pull the IPO forward to like June, because
• 53:08
  it's going to line up with some I, I can't, I, I don't remember.
• 53:14
  It's like some planetary things, but and his birthday.
• 53:17
  So he wants to have that happen to happen in June, which is
• 53:20
  actually pretty quick because they're going to have to file
• 53:24
  the, the S1, the IPO prospectus and then go through an SEC
• 53:27
  review. My guess is that the SEC is
• 53:30
  going to try to push that through pretty quickly just
• 53:32
  given how special, you know, Musk is and is how close he is
• 53:36
  to the administration. So maybe it happens in June, but
• 53:39
  if not, like we're probably looking at July.
• 53:41
  And then if it doesn't happen in July, I mean, I think this
• 53:44
  company has the pool to still be to do an A successful IPO in
• 53:49
  August, but you typically want to stay away from an August and
• 53:52
  September offering because people are away for holiday.
• 53:57
  But yeah, that's that's why I think, you know, making sure
• 54:02
  that you have a plan because, you know, Kevin Mack had talked
• 54:08
  about this before, but and, and I agree with him that the
• 54:11
  ingredients for AST to become an S rank in in anime, there's this
• 54:16
  idea you can pick any number of of, you know, series, whether
• 54:22
  it's like One Punch Man or a solo leveling.
• 54:25
  But you know, there's there's this this this schema for
• 54:29
  ranking heroes and and also for, you know, evil guys, which is
• 54:34
  like C rank is a low, you know, D there's D rank is low CBA, you
• 54:40
  know, if you're a rank hero, like that's really high.
• 54:42
  But then there's like the exceptional ones where there may
• 54:45
  be, I don't know, like 200 A ranked heroes who have these
• 54:48
  different capabilities, but S ranked, there might be just 10
• 54:50
  in the world, right. And so when Mac was talking
• 54:53
  about this idea that AST could achieve S rank in terms of a
• 54:59
  cult stock. And that's not to be confused
• 55:04
  with like something bad, but something that's like for
• 55:08
  Palantir or Tesla where the company has like this this Halo
• 55:13
  effect where people want to own it.
• 55:17
  They believe in the mission and the company is doing, you know,
• 55:19
  extraordinary things. And and it's not valuation isn't
• 55:22
  just predicated on the next one 2-3 years, but it's like on the
• 55:27
  potential of what the company could do, right?
• 55:28
  So an ASD fits that in spades, right?
• 55:31
  Where you have this this communications platform that is
• 55:35
  going to deliver commercial service, you know, broadband
• 55:38
  data to to any 3 GPPD device, whether that's a mobile phone,
• 55:44
  you know, a drone, a computer car, any, any, any device that
• 55:51
  can work on a cellular network. But then you also have these use
• 55:55
  cases of, you know, on the military side, so sensing radar,
• 56:01
  you know PNT position navigation timing, basically GPS backup
• 56:05
  electronic warfare. I mean, there's, so there's a
• 56:07
  whole host of capabilities that this consolation can offer and
• 56:13
  there's, you know, there's applications that we haven't
• 56:15
  thought of yet, right? And so that's when you, you
• 56:18
  know, it's like NVIDIA too, where it's like you for the
• 56:23
  people who are, I guess who, who can't think outside the box,
• 56:27
  they just see the applications that are right in front of their
• 56:29
  face, but then they can't extrapolate that and see what
• 56:33
  else is out there that can grow the Tam, right?
• 56:36
  And so for that type of situation, I remember like back
• 56:39
  in, gosh, what was it 2020-2021 when it was on ISS discord and
• 56:47
  people were talking about Palantir and I like had no idea
• 56:50
  what Palantir would do. Like what, what it meant, Like
• 56:52
  what is what is Palantir? I didn't understand the business
• 56:57
  model or what value they were adding.
• 56:58
  And so I just, I was lazy. I just didn't do any work on it.
• 57:01
  But of course, like for the people that did, they were
• 57:03
  highly rewarded. And so, and for Tesla, like the,
• 57:08
  the bears have been like, oh, that's, it's another auto
• 57:10
  company. It should be valued like Ford
• 57:13
  and GM, but it's like, no, they're, they're not, they're
• 57:15
  they're doing, it's not just electric cars, but they're doing
• 57:19
  robo taxis, which is, you know, that's going to eat into Uber
• 57:22
  and and Lyft and these other services.
• 57:24
  And then, of course, like today, you just had Musk say that
• 57:27
  they're going to stop production of the S&X Tesla vehicles and
• 57:33
  they're going to allocate that production line to building the
• 57:36
  robots by the end of this this year.
• 57:37
  Now, obviously, like if that actually when and if that
• 57:42
  actually happens, we'll see. But you know, Tesla is much more
• 57:47
  than just cars. It's, it's, you know, of course
• 57:50
  they're investing, what is it, $2 billion into XAI.
• 57:54
  And so, and if you talk to like people who are really close to
• 57:57
  Tesla, there's all these other things that the company's doing
• 58:00
  that be candidly that I don't follow Tesla that closely.
• 58:03
  Like I, I'm just not aware. And so, you know, for a, a
• 58:06
  layperson, they just think of Tesla as one particular thing
• 58:09
  and that's it. And similarly, that's true for
• 58:12
  AST where I think most people from the outside look in,
• 58:15
  they're like, oh, those guys are doing something with their
• 58:17
  mobile phone and that's it. And it's like, no, there's
• 58:20
  actually these massive defense markets.
• 58:24
  And then you, you can think about AST as just this big
• 58:27
  communications platform that sits out in space.
• 58:29
  And then, and then you, you know, over the past, was it 2
• 58:35
  months? Like for people really digging,
• 58:37
  it's like, OK, well, if you like data centers, then you're going
• 58:41
  to love ASD. It's like, you know, the, the
• 58:43
  satellite can generate 120 kilowatts of power.
• 58:46
  It's got the, the phased array or the, the microns, which house
• 58:51
  a phase array on the bottom earth facing side and and solar
• 58:54
  panels on the the outer facing side.
• 58:58
  It has built in heat dissipation, which is like one
• 59:00
  of the biggest issues for for AI data centers.
• 59:04
  And of course in each Micron you have Fpgas currently, but but
• 59:08
  ASICS that are being integrated in in the first quarter.
• 59:12
  But then you could see. You know, NVIDIA GP US or TP US,
• 59:19
  you know, Tensor, TP US or other ASICS for data applications.
• 59:23
  And so this is the type of stuff where the people who really
• 59:27
  understand the potential of the company and the IP that they've
• 59:31
  built, it goes beyond just communications and the military
• 59:34
  is recognized as they understand that.
• 59:37
  And you know, the company understands this too.
• 59:39
  It's like, OK, we're at 500,000 square feet of production
• 59:43
  capacity or manufacturing floor space.
• 59:46
  We're looking for even more. And so we're going to be ramping
• 59:51
  from six satellites per month, which which you know, they
• 59:54
  haven't publicly acknowledged that.
• 59:56
  But of course, in recent filings, we know that they're
• 59:59
  already there. But then you know Scott has
• 1:00:02
  talked about. Getting that to 10 satellites to
• 1:00:06
  12 satellites per month. So why do you need the extra
• 1:00:10
  satellites? Like, OK, you're going to pull
• 1:00:12
  forward the big band constellation, but there's also
• 1:00:15
  this idea of a government shell, which which he's talked about.
• 1:00:19
  And so these are all little Nuggets, right?
• 1:00:21
  And it's it, it helps the the story move beyond just what the
• 1:00:29
  the general public sees, right? And so that's where this whole
• 1:00:33
  idea of what what Mac was saying is that reaching S class or S
• 1:00:38
  rank where it's the company is not getting it.
• 1:00:43
  It's, it's going beyond just getting credit for the core
• 1:00:46
  business, but it's for the extra stuff that's going to happen
• 1:00:49
  like these other markets, which eventually great candidly, like
• 1:00:53
  could become bigger than the core market, right?
• 1:00:55
  It's like the NVIDIA example of, well, we're just like a niche
• 1:00:59
  GPU company for gamers. And then all of a sudden, you
• 1:01:04
  know, a few years later, they are the, the heart and the core
• 1:01:08
  of the AI revolution. It's like NVIDIA chips, right?
• 1:01:12
  Like who would have thought? Like if you'd asked somebody, I
• 1:01:14
  mean, Jensen Wong probably knew, but if you'd asked someone 1520
• 1:01:18
  years ago, Oh yeah, these graphic cards that you're using
• 1:01:21
  to play Civilization or Quake or Doom, like it's actually those,
• 1:01:26
  those chips are going to be optimized to run inference and
• 1:01:31
  training and, you know, various AI applications.
• 1:01:34
  It's pretty, pretty crazy. So.
• 1:01:37
  So yeah, that. When when talking about ASD
• 1:01:41
  series mobile. You know I've.
• 1:01:42
  Seen like a few bear posts where people are like, oh it's trading
• 1:01:46
  at so many multiples to $14 million of revenue which they
• 1:01:49
  reported last quarter. It's like.
• 1:01:52
  Who? Who are you like?
• 1:01:54
  What nobody who is a serious investor invest based off of
• 1:01:59
  historic results, right? Everyone's always looking to for
• 1:02:05
  future results or future potential future results,
• 1:02:08
  meaning if the companies were established and maybe I'm
• 1:02:11
  looking at next year's revenue projections and earnings or
• 1:02:15
  maybe 2 years out. Or if it's for let's take smart
• 1:02:19
  modular reactors or quantum computers.
• 1:02:23
  Like you're looking at these things more like biotech
• 1:02:26
  companies, right? Where you're, you're looking at
• 1:02:28
  the Tam, you're seeing how much could they potentially capture
• 1:02:32
  in 456710 years? And then discounting, you know,
• 1:02:37
  discounting that back by some high discount rate, but that's
• 1:02:42
  how people invest, right? Like you're the company's got a
• 1:02:45
  lot of promise. But you know, for AC, for
• 1:02:48
  example, we've got we've got Scotia Bank who is the the bear
• 1:02:53
  on the street. He's projecting like $11 billion
• 1:02:57
  of free cash flow. I think.
• 1:02:59
  I mean their numbers are his numbers are kind of nuts.
• 1:03:01
  I think it's like by 2030 or 2031, someone astutely pointed
• 1:03:05
  out that that would put AST in the top ten of all public
• 1:03:09
  companies in terms of free cash flow generation.
• 1:03:13
  But that's, you know that that is like the that's that's what
• 1:03:18
  we're going for, right? Like for AST in particular, it's
• 1:03:21
  not just commercial markets, it's defense, it's like first
• 1:03:24
  responder stuff. And then it's also these other
• 1:03:26
  applications that some that we haven't even thought about,
• 1:03:32
  right, like going back to the AI data center idea like that, that
• 1:03:38
  in particular like we're going to have all the satellite
• 1:03:40
  production capacity ramped up. And once the constellation is
• 1:03:43
  done, like, yeah, you're going to need to build a few
• 1:03:45
  satellites here and there for maintenance.
• 1:03:48
  But all that production and know how and trained people and and
• 1:03:51
  automation and patents and. Basically all the key.
• 1:03:55
  Building blocks of what you need to make a 5/6 ton satellite
• 1:03:59
  that's going to do AI applications out in space and
• 1:04:03
  we're going to have it and it's going to be there.
• 1:04:06
  And, and you know, we have, we have a partnership with Google
• 1:04:10
  currently and Google is working and, and this is not a knock on
• 1:04:13
  planet great. Like they're going to do,
• 1:04:17
  they're going to send up one NVIDIA GPU in probably like a
• 1:04:22
  planet bus. And they're going to specialize
• 1:04:24
  it that satellite too, so it can handle, you know, handle thermal
• 1:04:29
  load and, and dissipate heat and do all that stuff to power it.
• 1:04:32
  But these are like tiny, tiny cube sats, right?
• 1:04:37
  And so when it comes time to, once they figure out what they
• 1:04:40
  want to do, like who are they going to go to?
• 1:04:42
  Google does not make satellites. And they could go to a prime,
• 1:04:45
  they could go to a Lockheed Martin or one of these other
• 1:04:48
  guys. And, and they're going to be
• 1:04:49
  like, Oh yeah, man, we'll do that for you for cost plus.
• 1:04:52
  And you know, we're going to, the way that we work, we'll,
• 1:04:56
  we'll deliver that satellite to you in one to two years.
• 1:04:59
  And then maybe most likely that'll be like 3 to 4 years.
• 1:05:03
  And anytime you want to change, you have a change in the order
• 1:05:06
  like you're going to pay us for it.
• 1:05:07
  And it's going to take a lot of turn around time versus like AST
• 1:05:11
  where it's a startup, you have that startup culture and a
• 1:05:15
  company like Google or Amazon or Blue Origin, Microsoft, whoever
• 1:05:21
  it is, they could come to the company and say, hey, I want to
• 1:05:24
  do this and I need your help. And the company will be like,
• 1:05:27
  hey, sure, like we've got capacity and we can do it.
• 1:05:30
  And, you know, I'm not sure what the business model would be if
• 1:05:33
  we would, it would be a one and done thing where we build that
• 1:05:38
  satellite for them, a consolation and then we hand it
• 1:05:40
  over. Or we are actually, I mean,
• 1:05:42
  ideally you would they pay you for it and then you would have
• 1:05:45
  some ongoing service revenues, which you probably, I mean, for
• 1:05:50
  those companies, you probably need an operator to, you know,
• 1:05:55
  for command and control and to, to manage consolation because,
• 1:06:00
  you know, you have to be pretty active in terms of collision
• 1:06:02
  avoidance and making sure that everything's running smoothly
• 1:06:07
  again, for, for these companies. Like they're not, that's not
• 1:06:11
  their bread and butter. So anyway, but yeah, I, I'm
• 1:06:16
  realizing that it's 12 or 7. I'm going to end it there.
• 1:06:21
  But yeah, I just, I just wanted to get people together.
• 1:06:24
  I haven't talked about AST exclusively in quite some time.
• 1:06:26
  So I wanted to do that, especially in light of us
• 1:06:30
  hitting this big milestone in terms stock price.
• 1:06:34
  I do think that we are at this point where, yeah, you know,
• 1:06:39
  we're going to have drawdowns and maybe the stock goes back to
• 1:06:42
  100 at some point, but it's not going back to 50.
• 1:06:45
  And so if you look at like the strength of it, I know Cook and
• 1:06:52
  Tut were like, oh, it seems very strong today.
• 1:06:54
  Why, why is that? You know, I do think that there
• 1:06:58
  are more, there is more institutional buying.
• 1:07:01
  Obviously we've seen short interest come down quite a bit.
• 1:07:04
  And so we're kind of at the, the inflection point like this is
• 1:07:08
  the year you've got tailwinds of the administration being focused
• 1:07:12
  on this. You've got Golden Dome and then
• 1:07:14
  of course the company calloused on their own right, the
• 1:07:17
  launching of satellites couldn't the launch of commercial
• 1:07:21
  operations and service beta test and then of course full
• 1:07:24
  commercial service. You also have any number of
• 1:07:28
  things whether it's more different agreements.
• 1:07:30
  We, we just saw today, I saw yesterday Biasat got
• 1:07:35
  $188,000,000 XM loan for US from, you know, U.S. government
• 1:07:40
  XM loan to build 1 satellite. And so, you know, we do have our
• 1:07:45
  application for $500 million and I'm not sure if that's for if
• 1:07:50
  that will be for satellites or it will be for manufacturing.
• 1:07:53
  But either way, like I think that's going to be or that's
• 1:07:58
  probably somewhat ripe like we, we should hear back on that.
• 1:08:02
  But yeah, there's, there's a lot of catalysts that are coming.
• 1:08:05
  And so I think the strength in the stock is reflective of that.
• 1:08:09
  And there's people, you know, there was actually there's one.
• 1:08:14
  I got to look and see if I can find it.
• 1:08:15
  But there's one institutional investor that's on Twitter that
• 1:08:18
  writes quite a bit. And he had written.
• 1:08:21
  This. Is like back at 105 or 104 or
• 1:08:24
  something like that. And he had written that he had
• 1:08:26
  bought stock and someone was like, why'd you buy stock?
• 1:08:28
  And he's like, Oh yeah, if you walked stock over the day and
• 1:08:31
  they're like, why'd you buy? It's like at an all time high.
• 1:08:33
  And and his response is like, oh, it's interesting,
• 1:08:36
  interesting now, like I got to own it and this is a concept.
• 1:08:40
  I'll end it with this. You know, I was talking to Kook
• 1:08:43
  about it this evening Where when you, you know, the the company
• 1:08:48
  is now you just look at this market cap company is now at $45
• 1:08:55
  billion in market cap. And you have TMT investors who
• 1:09:01
  are waiting anxiously for the SpaceX IPO and and obviously
• 1:09:06
  they want a piece of Starlink, but there's this other company
• 1:09:10
  where, you know, is a technological leader and has
• 1:09:14
  this big opportunity. And it's a pureplay way to play
• 1:09:17
  this particular market. It's going to be something that
• 1:09:20
  people will need to own. And if they miss it, they're
• 1:09:22
  going to be in big trouble, right?
• 1:09:24
  And so they're going to, and I think that's what we're seeing
• 1:09:27
  now where you're seeing pretty strong buying in the company.
• 1:09:32
  And that's only going to increase with FCC approval of,
• 1:09:37
  you know, the market application for the company.
• 1:09:39
  And then, of course, as this as the constellation launches, I
• 1:09:42
  can't tell you like what it is specifically for each long only,
• 1:09:46
  but you know, let's say someone's waiting for
• 1:09:51
  consolation to get to 20 or 25 and or initial commercial
• 1:09:55
  service to start. And so that's the the day that
• 1:09:57
  they they start pressing the buy button or maybe it's the FCC
• 1:10:01
  application getting approved. And so there's all these things
• 1:10:04
  that are going to happen over the course of the year where
• 1:10:06
  you're going to have people coming in to buy the stock
• 1:10:08
  because as someone who's focused on TMT or if you're a tech or
• 1:10:12
  growth or whatever it is, right? Like this is a company, you
• 1:10:16
  can't, you can't miss or you're going to look like a complete
• 1:10:19
  idiot, right? And so it's almost like it's
• 1:10:22
  like we joke about schmuck insurance.
• 1:10:24
  It's like, oh, I need to own. Some part of this?
• 1:10:27
  And it's why I like, you know, heading into the end of
• 1:10:30
  quarters, you'll see like some big winners spike even more
• 1:10:33
  because people don't want to look like they missed it.
• 1:10:39
  They missed a name. And so into quarter end buying
• 1:10:43
  like some losers, by the way, will will drop even more because
• 1:10:45
  people are like, I don't want this to be on my books.
• 1:10:47
  And people don't know like, I lost money on this thing and
• 1:10:50
  vice versa. Like if there's big winners,
• 1:10:52
  they they don't want to miss it. And so we're at this point where
• 1:10:55
  that's starting to happen. And I think it will get you to
• 1:10:58
  happen. So So yeah, I'll end it with
• 1:11:00
  that. I mean, the next few months are
• 1:11:02
  going to be very interesting, as I said before, because of all
• 1:11:05
  these ingredients, you know, macro and company specific, the
• 1:11:13
  the stock has the potential to perform and or outperform, you
• 1:11:19
  know, higher than even what you or I expect.
• 1:11:23
  And so I think that's potentially in the cards and
• 1:11:25
  it's what, you know, Kevin Mack was referring to where you have
• 1:11:30
  this, you know, the, the the company elevates to this level.
• 1:11:35
  That's that's special that it. Doesn't.
• 1:11:38
  It's not hindered by traditional valuation metrics and and people
• 1:11:42
  really are investing on the potential of the core business,
• 1:11:45
  but all these other things that that that the market is not
• 1:11:50
  seeing, but that you and I see. So anyway, I'll end it there.
• 1:11:54
  I'm going to try to go to bed at a reasonable time, although
• 1:11:57
  there is, I am tempted to potentially go to bed late and
• 1:11:59
  see if I can, if I can replicate the what happened yesterday.
• 1:12:05
  I am wearing the same clothes to, to go to bed.
• 1:12:08
  So maybe, maybe it'll happen. But anyway, thanks everyone for
• 1:12:11
  joining. And yeah, we'll see.
• 1:12:14
  We'll see what happens. I'm sure we'll catch up again
• 1:12:17
  when the next catalyst drops. So thanks everyone for joining.
• 1:12:21
  And have a good night. Take care.
• 1:12:25
  Thanks for listening to the AST Space Mobile podcast.
• 1:12:28
  If you enjoyed this episode and you'd like to help support the
• 1:12:31
  podcast, please share it with others, post about it on social
• 1:12:34
  media, or leave a rating and review.
• 1:12:37
  To catch all the latest news about AST Space Mobile, make
• 1:12:40
  sure to subscribe. Thanks again and I'll see you
• 1:12:43
  next time. We're doing something very, very
• 1:12:49
  big and I think with this technology we can really affect
• 1:12:52
  billion lives. FT Space globally is the only
• 1:12:55
  company that has good technology to deliver cellular broadband
• 1:12:59
  connectivity directly from space to the everyday smartphone.
• 1:13:04
  People will just basically turn their phone and be seamless.
• 1:13:07
  Regardless of where you. Are we don't want the user to
• 1:13:10
  know that it's connected by satellite.
• 1:13:13
  Our role is to bring this into reality, always in partnership
• 1:13:16
  with the MMO.