Latest / AST SpaceMobile Podcast / Anpanman - Impromptu Spaces with Anpanman from June 25, 2025

Transcript

Anpanman - Impromptu Spaces with Anpanman from June 25, 2025 · AST SpaceMobile Podcast

• 0:06
  This. Is the AST Space Mobile podcast
• 0:11
  just basically from your phone be seamless regardless of where
• 0:14
  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.
• 0:29
  Hey, how's it going? Good.
• 0:32
  How are you doing, man? Are you hosting?
• 0:38
  Of course. Are you, are you feeling a bit
• 0:43
  of loss of gravity with the share price this week or last
• 0:50
  week or everything? Man, it's been nuts.
• 0:52
  Yeah, it has been nuts. No, it's been fun, man.
• 0:55
  I just so everyone knows, I, I reached out to Jacob to just
• 1:00
  start up the space. I'm actually driving.
• 1:03
  I dropped off one of our little ones to sleep away camp, but
• 1:06
  I've got 3 hours left. And so I figured what better way
• 1:11
  to kill time than just start a space, just hang out.
• 1:14
  But but yeah, no, it's been it's been fun.
• 1:17
  I I've been having trouble timed a hard time sleeping because I
• 1:22
  just had this anticipation wake you up the next day or checking
• 1:26
  the price like at 4:00 AM or whatever.
• 1:27
  So yeah, what an exciting time. What about you?
• 1:35
  Yeah, man, it's been, it's been crazy watching everything just
• 1:38
  go up and up and up. I'm like waiting for the day
• 1:41
  when I'm where it's going to all turn red.
• 1:43
  But it hasn't happened yet. Yeah, I, I, I got screwed up on,
• 1:49
  on ASTS. So I, my positions reduced a
• 1:52
  bunch. So I'm happy for it, but it's
• 1:54
  not as good as it could have been if I didn't touch anything.
• 1:56
  So I'm a I'm a little bit kicking myself.
• 2:00
  Yeah, I sold cover calls gone underwater, sold or bought puts
• 2:04
  to try to save it because I was like, oh, it's so overbought.
• 2:07
  And then that got that made it worse.
• 2:09
  And I saw I have everything and and I had to reduce my position
• 2:13
  because of it. But such is like.
• 2:17
  It's tough because I think you can time those things until you
• 2:20
  can't, right? And so they'll work for a while
• 2:25
  and then people get kind of complacent and they're like, oh,
• 2:27
  it worked before, I'll do it again.
• 2:29
  And then unfortunately this time around, all the ingredients were
• 2:34
  there for this, this massive re rating we're having, which I was
• 2:39
  talking about it with cook. I just got off talking with cook
• 2:42
  a little while ago and you know, I, I know Kevin Mack has written
• 2:46
  about this, about it seems to be short covering, which I, there's
• 2:50
  clearly some of that going on for sure.
• 2:52
  But I think to me, it's so orderly.
• 2:57
  It feels like some, some large institutions, I don't know how
• 3:01
  many, but it seems like there are some folks out there, some
• 3:05
  institutions that are V whopping into a big position because
• 3:09
  every day it's like at the open, it's kind of funny because like
• 3:13
  you see shorts try to pound the stock.
• 3:15
  They, they did a pretty good job yesterday, you know, it got down
• 3:18
  to 43, they got completely smoked.
• 3:21
  And then today you saw someone trying to get the party started
• 3:25
  again. They, you know, the stock was
• 3:27
  off and then lo and behold, like whoever those institutions are
• 3:32
  that are V whopping going long, their programs kicked in and
• 3:36
  then the stock like ever looked back?
• 3:37
  It just kept grinding higher and higher and higher, which that's
• 3:41
  kind of been the routine for the last few days.
• 3:44
  So yeah, it's pretty interesting.
• 3:47
  But, but I, I hear you. Like I was looking at Reddit and
• 3:51
  there's a number of people that were upset because they sold
• 3:56
  calls against their position at whatever, like in the 30s or 40s
• 4:01
  and and then they missed out, Which I think like if, if that's
• 4:05
  something that you plan on doing, it can it definitely
• 4:09
  makes sense from time to time. But you know, maybe not for your
• 4:13
  entire position. But also when we are in this
• 4:18
  weird place, which we've which I've talked about before, where
• 4:22
  volatility was like at a near low and short interest is really
• 4:25
  high and there's just all these callus coming up.
• 4:28
  It's like you're just kind of asking for to get called away.
• 4:33
  But but yeah, I'm sorry to hear that, that that sucks.
• 4:37
  I mean, it's all right. I still, it's not like I'm
• 4:38
  completely blown out. But yeah, I, I decided to move
• 4:41
  the the, when they they, the calls were the calls were taken
• 4:46
  away. I started to move a bunch of it
• 4:47
  into Rocket Lab calls. So I'm, I'm OK happy.
• 4:51
  So I mean, the, the, the premiums were so low on it at
• 4:54
  the point. Yeah, I saw like this big cup
• 4:56
  handle forming that everybody kept saying.
• 4:57
  So I was like, you know what, fuck it, let's just go and throw
• 5:00
  it into this for a little while. I didn't expect the ASTS would
• 5:03
  still just be driving up after that.
• 5:05
  That was Friday when I moved, when I moved a bunch.
• 5:07
  So, so I mean, I'm still like, it's still been a great week.
• 5:10
  I'm like, My Portfolio is all time high.
• 5:12
  So I'm not like complaining complaining.
• 5:14
  It's just like I'm my position is a lot smaller than it was in
• 5:18
  ASTS, which is still, I mean, so good.
• 5:20
  It's just wow, yeah, it's crazy. I mean, I, I don't know.
• 5:23
  It's, it's like, I don't know, I guess honestly, if even if I
• 5:29
  hadn't done the covered calls the week before, I probably
• 5:32
  would have done them last week and would have been blown out
• 5:34
  right now. Like there I, I don't see
• 5:36
  myself. I couldn't have seen myself
• 5:38
  thinking the stock is up at 53, I guess so like maybe I didn't
• 5:41
  have a conviction is really what happened.
• 5:43
  So I mean, it's yeah, it's my own fault, but I yeah, so I'm
• 5:47
  not like I don't want to like this is by mean no means me
• 5:49
  ragging on ASTS by any means. I'm really happy for it.
• 5:52
  It's just like, wow, I, I, I personally was never that would
• 5:55
  never was never in my range of thought would go up that fast.
• 5:59
  Yeah, I think some somebody or I, I've seen like a few people
• 6:06
  make comparisons to Palantir and I was talking about it with Kook
• 6:10
  just a little while ago. And, you know, I feel like
• 6:13
  Palantir is, is like this like nebulous stock that oh, people,
• 6:18
  it's big data. They're they do some type of
• 6:20
  analysis and but no one really could wrap their arms around it
• 6:24
  or ascribe like real strategic value to it.
• 6:27
  And then then lo and behold, like once people start to figure
• 6:30
  out that there's real military use cases and and the companies,
• 6:35
  you know, getting these large awards, then it became more
• 6:38
  concrete and then all of a sudden that stock be rated.
• 6:42
  I mean, yeah, I just went vertical.
• 6:45
  And so I, I kind of wonder if that's happening right now where
• 6:50
  people originally were like this AST Space mobile is like, you
• 6:55
  know, commercial broadband connectivity to, you know,
• 7:00
  consumers, consumer subscribers. But then now people are, are re
• 7:04
  rating it for the military use cases, which are really
• 7:08
  potentially as big as, you know, the commercial use cases.
• 7:13
  And so, and it's, it's interesting 'cause I think, and
• 7:17
  I'm sure people on this space have recognized or have got this
• 7:22
  too, but for people that you've, you've talked to over the last
• 7:26
  three, 4-5 years about AST Space Mobile, and probably a majority
• 7:31
  of them have dismissed it. They're just like, oh, OK, that
• 7:33
  sounds interesting. And then you, you might have
• 7:35
  gotten calls or pinged on from those same people who reach out
• 7:40
  to you when the stock was down and they're like, hey, what
• 7:42
  happened there? It's kind of like I told you so
• 7:45
  type of moment. But then now you're getting
• 7:47
  calls from people who are either congratulating you or they're
• 7:51
  saying, damn it, I missed it. Like, why didn't I, you know, I
• 7:54
  should have done something. And it's kind of like now
• 7:59
  reaching this escape a lot velocity of awareness.
• 8:03
  I don't know, I mean, are do you?
• 8:05
  I guess I wonder if other people are are getting that.
• 8:08
  But like I again, I was talking about it with Cook today and he
• 8:11
  was he was saying how a number of people that he had introduced
• 8:14
  to the stock were calling him, you know, complaining that they
• 8:18
  they unfortunately either didn't pull the trigger or they did and
• 8:22
  then they flipped it for a small profit.
• 8:24
  They can, you know, that was good enough.
• 8:28
  Yeah, I mean, so I like a few people I talked to about it,
• 8:31
  like my old coworkers and stuff. Like I, I asked them this week.
• 8:35
  I was like, Hey, you guys still hold on the ASTS because I was,
• 8:38
  I was pumping them to put like to buy into that harder than I
• 8:41
  was. Rocket Lab back in what January
• 8:44
  when we were when it was down, when I first started my position
• 8:46
  in it. And so like I, I was pumped that
• 8:49
  I've been a lot of them had already sold and they sold when
• 8:51
  it first when it dropped, we got up to like 30 something and
• 8:54
  dropped back down. A lot of them sold there and I
• 8:56
  was like idiots. I don't know other people I knew
• 8:58
  like like like like sold it in the 20s and stuff too.
• 9:02
  So like I like, I don't yeah, I mean it's, it's hard if they
• 9:06
  don't like didn't do the research my and what I've taken
• 9:08
  myself is like I've poured into the research on it too.
• 9:11
  And so we'll see. I don't know.
• 9:13
  I I'm, I don't, I'm not like wishing for I guess I
• 9:16
  personally, selfishly, I'm wishing for a pullback, but I
• 9:18
  don't want like that's just you know it, whatever, it doesn't
• 9:21
  matter. I'm my wishes into the into the
• 9:23
  you know, ether, but you know, I like I'm I'm I got a position in
• 9:29
  it and I'm happy hanging out of that.
• 9:31
  So I'm not touching like those chairs are no long is a long
• 9:34
  only shares. So.
• 9:37
  Yeah, I mean, I I pull back would be would be healthy and
• 9:41
  natural. But the question of course is
• 9:43
  always, you know, a pull back from where and I don't what,
• 9:47
  what's the count now? Are we up like 15 out of 16 days
• 9:50
  or something? It's pretty.
• 9:51
  Yeah, it's, it's, it's crazy. Like it I think it is 50 out of
• 9:54
  16 days. It's nuts.
• 9:55
  And that that one day was such a little like, and it was
• 9:58
  completely erased the next day. And it's not even like little 2%
• 10:00
  gain day. It's like 510% gain days.
• 10:03
  It's just, yeah, the last two days.
• 10:06
  It's just it's, it's incredible. But watch, it's cool.
• 10:10
  So yeah, even having a seat of this is cool.
• 10:16
  I, I do think like there's, there is an element as I've
• 10:20
  mentioned before, like I think there are some institutions that
• 10:23
  are probably be whopping in because that's what it
• 10:25
  definitely feels like outside of any short covering.
• 10:27
  But then I do, I can see scenarios where there's also
• 10:33
  maybe things are a bit leaky, like if the company is doing
• 10:36
  some stuff interesting around defense work, like perhaps, I
• 10:39
  mean, whenever you're doing things around the government,
• 10:42
  obviously we all know, look at like Nancy Pelosi or Tommy
• 10:47
  Tuberville, these politicians, like they all get the heads up
• 10:50
  of what's going on. And so I do wonder if there's a
• 10:53
  little bit of that kind of spilling into it.
• 10:55
  And then of course, like the other speculation too, of, of
• 10:59
  potential strategic investments. But it is, I mean, on the one
• 11:04
  hand, like it is uncanny how strong the stock has been.
• 11:07
  And then on the other hand, if you look at a lot of you know,
• 11:10
  high risk, high growth names, they, they've done pretty well,
• 11:13
  not all of them, but a few have done quite well in the last few
• 11:16
  days. But I think Catsy, Catsy pointed
• 11:20
  it out too like there it seems like the, the likely Golden Dome
• 11:25
  beneficiaries have done pretty well over the last, call it two
• 11:30
  weeks. So maybe that's kind of what's
• 11:33
  pricing in? Yeah, maybe like I keep waiting
• 11:36
  for like the RF PS or something to come out around that, around
• 11:38
  those projects so I can see more of what's going to be in it.
• 11:41
  But yeah, like some, you're right, somebody's got to know
• 11:43
  something It it seems like that, but like it, I don't know.
• 11:46
  I mean, Anteus is like the is is the Unicorn for sure of of the
• 11:50
  space stock. So it's not it's like they're
• 11:52
  they're outperforming the sector or if you want to call it the
• 11:55
  sector by a lot. So it's more than just, I mean,
• 11:58
  it could be also the defense that could be also some of the
• 12:01
  short covering. I feel like it's a combination
• 12:03
  of things, but it's cool. It's awesome.
• 12:05
  Like I I don't know, I'm like just blown away by it.
• 12:10
  So we'll see. Yeah.
• 12:11
  I mean, yeah, it's good. I know somebody just wanted to
• 12:15
  request in to talk, but I don't know if they're going to jump on
• 12:18
  or not. Did you?
• 12:21
  I guess you have a drop. Yeah.
• 12:23
  Oh, yeah. So if everybody wants to jump on
• 12:25
  and ask questions, go for it. Got you got cats.
• 12:28
  He's undivided cats. He's high and Pen Man's
• 12:30
  undivided attention. Well, if you want to just come
• 12:33
  up and tell us a crazy story, that's good too, because I I've
• 12:38
  heard quite a few crazy stories or last few days and people have
• 12:43
  reached out and yeah, just share their life changing, you know,
• 12:48
  story on AST, which I think is pretty cool.
• 12:50
  But but yeah, if anyone wants to come up, but sorry I cut you
• 12:54
  off. Oh, you're good.
• 12:58
  I'm waiting for the request to come in.
• 12:59
  I know somebody was there, somebody was there and I didn't
• 13:01
  click it fast enough. So hopefully they can still
• 13:05
  requested. I I guess you've been driving.
• 13:08
  You didn't see it. It was great.
• 13:09
  I'm just going to slightly, slightly change topics, but the
• 13:13
  rocket last at like 3 at 12:40. It was up at 3424 and then in
• 13:18
  like 5 minutes it dropped down to like 33.
• 13:21
  And so I don't know, it's not that big of it, but it was like
• 13:23
  a 2% drop in in a 5 minute like period.
• 13:26
  And it was it was kind of weird it like erase the entire gains
• 13:29
  of the afternoon, which is kind of annoying.
• 13:32
  But I don't know, that felt like some something shorts cover.
• 13:37
  I don't know if that's it. I don't know if that's a thing,
• 13:39
  but maybe you can. When you get a chance later you
• 13:41
  can look at it, but. Well, it could be related to
• 13:44
  options volume if someone put on a trade and then sometimes it
• 13:48
  like triggers algos, which then can cause a big jerk up or jerk
• 13:53
  down. But yeah, I don't know.
• 13:55
  I've been driving so I don't look at much.
• 13:58
  The only, the only things I've been able to do today is put out
• 14:04
  professional athletes with the appropriate jersey numbers and
• 14:07
  that's it, which has been fun. And then of course, like the
• 14:12
  last one I put away is Brian Urlacher of a Chicago Bears who
• 14:16
  who's number 54. And then of course, an astute
• 14:19
  space mobile investor was like, when are we doing rank Wayne
• 14:23
  Gretzky, which is some of you guys know Wayne Gretzky, the all
• 14:28
  time great. He's number 99.
• 14:30
  So I don't know. I I, I feel like Wayne Gretzky
• 14:34
  could be in the cards at some point in the coming months, but
• 14:38
  we'll see. Did you see Cook?
• 14:39
  Cook put up the guy from I don't know if the name of the
• 14:43
  characters, but it was a yeah, he from from some Squid games.
• 14:47
  Yeah, it's 250 part. G 250 bucks that's great. 250
• 14:52
  That was, that was, that was great.
• 14:55
  Hey, Jacob, can you hear me? Yeah, yeah.
• 14:56
  What's up, John? Go for it.
• 14:58
  Hey, I'm done man. Thank you so much for everything
• 15:02
  that you do. You know, this is definitely big
• 15:05
  being a big game changer. I guess my, I guess my back
• 15:11
  story is, you know, I used to work in consulting, you know,
• 15:16
  before the pandemic and during the pandemic.
• 15:18
  So I could never invest in individual stocks.
• 15:21
  And when I got out, I started following you and I first
• 15:26
  invested, I forgot the name of the healthcare company out of
• 15:30
  Florida that you had recommended.
• 15:32
  That was brutal. I lost a bunch of money and I
• 15:35
  was like, man, like never trust me, people on Twitter.
• 15:38
  Like even though I have the background of doing the analysis
• 15:41
  and looking at the statement, I was like man, I was such a
• 15:45
  dumbass. Like how did I?
• 15:47
  Lose so much money and you know, get that right, that right, that
• 15:51
  right. But then, you know, you start
• 15:53
  off, you know, Asts and then they were just like the space
• 15:58
  mob, right? Like back in 2022, I started
• 16:01
  investing, I think blue before Blue Walker 3.
• 16:05
  So by 5 or 6 months before Blue Walker three went through all
• 16:09
  the ups and downs and it's been great.
• 16:14
  Like, you know, it's it's life changing money in the sense, you
• 16:17
  know, you're able to pay off your student loans, you're able
• 16:20
  to save up for your family. So I'd appreciate everything
• 16:23
  that you know, everyone has done.
• 16:25
  So thank you so much. So that's my back story.
• 16:28
  I think my question for you is so my wife and I in a bunch of
• 16:32
  different accounts have like a significantly large position in
• 16:36
  terms of Commons. I would say in the 10s of
• 16:38
  thousands of common shares. And in my play account I
• 16:42
  typically dabble with options. Could you?
• 16:46
  Could you? Just like spend some time
• 16:48
  explaining because you know, for the longest time, you know, we
• 16:52
  would see catalysts and the stock price wouldn't respond.
• 16:55
  And now she's like, you know, catalysts are coming, but they
• 16:58
  haven't been announced and the stock price is so up.
• 17:01
  So if you could just help understand that dichotomy and at
• 17:06
  the same time, like, you know, what would you do in a situation
• 17:09
  like this, right? Like, obviously I'm not touching
• 17:12
  my comments because I absolutely was going to $500 a share.
• 17:16
  But then you think about options, right?
• 17:18
  Like, you know, just like money on the side, right?
• 17:21
  How would you play options in this sort of a setting?
• 17:24
  So anything that can share would be appreciated.
• 17:27
  And Jack Jacobs. So much for setting this up.
• 17:31
  Yeah, yeah. No, thanks for coming up.
• 17:32
  That's that's really cool. So the healthcare company you're
• 17:35
  talking about is Keno Health, which it seemed like a very good
• 17:39
  investment and did OK, but then the company got over leveraged
• 17:43
  and bought, did a number of acquisitions that were
• 17:46
  disastrous and there was a last hurrah where they were almost
• 17:50
  going to be acquired by Humana or I think it was, I forgot who
• 17:56
  the other it was United Health. But anyway, that company ended
• 17:59
  up going bankrupt. And so I think I lost, you know,
• 18:04
  I we talked about like high risk, like D SPAC names.
• 18:07
  I think I lost like 1 1/2 or maybe almost $2,000,000 on that
• 18:11
  one. That was really painful.
• 18:13
  And so in investing the old adage, if you're not losing
• 18:17
  money somewhere, you're not taking enough risk.
• 18:20
  I took too much risk on that name.
• 18:21
  So unfortunately, I'm sorry to hear you lost money on that, as
• 18:25
  did others as well. But but on STI think so if
• 18:33
  you're in terms of upcoming catalysts, I mean we are, I did,
• 18:37
  I did a post like recently of all the things that are expected
• 18:41
  in the coming months, which I think are big positives.
• 18:43
  And as we talk about like our big unlocks in terms of de
• 18:48
  risking the story, especially the initial block 2 blue birds
• 18:53
  that will go up, that will help de risk the story.
• 18:57
  And I think that's part of the reason why you're seeing some of
• 18:59
  the anticipation now where people are getting ahead of
• 19:01
  that. That's why the stock is
• 19:03
  performing quite well. But I think, you know, for
• 19:07
  anybody, if you have a large position in this company,
• 19:11
  depending on what your financial situation is, you know, if
• 19:14
  you're young and you're still working and you have income,
• 19:17
  then you can probably take a bit more risk than somebody who's
• 19:20
  older who is looking close to retirement, right?
• 19:23
  And so not that I'm giving you financial advice, but I think
• 19:27
  just keeping in mind, especially if you have very large gains,
• 19:32
  you know, it's, it's always good to take some profits And at the
• 19:35
  minimum, you know, rule of thumb is like take out your cost
• 19:38
  basis, like when you've initially invested.
• 19:41
  The other thing to think about is, you know, capital gains as
• 19:43
  well, right? So if you can manage, you know,
• 19:48
  your exposure where you're trying to get everything towards
• 19:51
  capital gains or for example, you're trading in a tax
• 19:55
  advantage account, like a retirement account, that can be
• 19:58
  helpful. But I I think.
• 20:01
  You know, for people who buy and sell, you know, for quick trades
• 20:05
  versus like I think a lot of us who've just bought positions in
• 20:10
  ASTM just held of the long term and averaged down.
• 20:15
  You're able to compound as we're sitting now, you're able to
• 20:17
  compound well, much faster because you're not, you know, if
• 20:21
  you hold something for less than a year and you're looking to pay
• 20:23
  and you pay short term capital gains on that, that, that chops
• 20:26
  out a big leg of your capital. And then if you're, you know, if
• 20:30
  you're looking to, you might make 5 or 10% or whatever it is,
• 20:34
  whatever your target is of trading stuff around in Commons.
• 20:39
  But over the long run, if, if the stock is doing well, it's,
• 20:43
  it's often times better just by and old.
• 20:47
  But but yeah, I, I think, I think it's important to set
• 20:50
  aside money like your initial cost basis and of course setting
• 20:55
  aside money for taxes to pay that.
• 20:58
  I've known quite a few people that, you know, out of the, the
• 21:01
  first back bubble who, who had a ton of gains and sold that, then
• 21:08
  reinvested it immediately and basically lost all that money,
• 21:12
  but then had huge tax bills because of the timing of that.
• 21:15
  They had huge tax bills that they had to pay and they were
• 21:19
  upside down. So you know that when it comes
• 21:22
  to taxes, like don't gamble with that money.
• 21:24
  Like make sure you set aside enough for that.
• 21:27
  On your question about options, I think it's important that
• 21:31
  people understand like, you know, I, I don't trade options
• 21:35
  regularly. I, I do from time to time when
• 21:37
  it seems like the timing is right.
• 21:38
  I mean, in options like you're going to go long, you need to
• 21:41
  know, you need to have very good sense of like where are prices
• 21:46
  going to be in the timing or those are those are critical.
• 21:48
  And the market from a macro perspective can make a sucker
• 21:53
  out of anyone, right? Like you might be right on those
• 21:55
  things, but then the macro backdrop may overwhelm whatever
• 21:59
  thing you're betting on. And so you may be wrong from
• 22:01
  that point of view or volatility may change, right?
• 22:05
  That volatility is, is an important it put it to option
• 22:09
  pricing. So you might be long really
• 22:11
  high, you know, expensive, high volatility, premium calls and
• 22:15
  then maybe the event happens and you're right on price of timing,
• 22:19
  but then ball collapses and you actually don't make money or you
• 22:23
  end up losing money. So I think it's important like
• 22:26
  if you're playing options to be opportunistic, like if you're
• 22:31
  doing fewer long options over the long run, it's like going to
• 22:35
  Vegas, like you're going to lose money.
• 22:36
  Like that's almost pretty much a guarantee.
• 22:39
  But if you're using them judiciously at the right times
• 22:44
  where you're looking to get some leverage and you feel really
• 22:46
  good about the situation and you're not going on margin and
• 22:51
  you're using options in a smart way perhaps to construct trades
• 22:55
  that are better risk rewards, then they can be a very useful
• 22:57
  tool, right. So like ahead of this big run
• 23:01
  that we've had, you know, I, I took like short dated option
• 23:06
  call option positions just because ball was really cheap
• 23:09
  and short interest is that all time highs and borrow rates were
• 23:13
  was at all time high too. And then we had all these
• 23:16
  catalysts and it's like, well, your options are cheap and
• 23:20
  there's all these great things that are happening and the stock
• 23:22
  was chopping like in the mid 20s.
• 23:24
  And so hey, I'll take some like calls on June calls out of the
• 23:30
  money and see what happens. And so, you know, those, those
• 23:34
  did well. And so I think I think it's
• 23:36
  important to have a plan and like, if you're planning, if
• 23:41
  you're thinking about utilizing options, but you know, size them
• 23:45
  where if they go to zero, you're not going to, it's not going to
• 23:48
  be a big deal to you and also take profits like options, you
• 23:52
  can be up big one day, but because of decay or the stock
• 23:56
  price, when it does pull back and and volatility comes back
• 23:59
  down, that big winning trade one day can turn into a losing trade
• 24:04
  the next day or within a few hours or a few minutes.
• 24:06
  And so the key thing though, is like if you're trading options,
• 24:11
  you need to be at a computer or on your phone.
• 24:18
  You don't have clear access to that because unlike owning
• 24:22
  comments where you can just kind of sit back and do whatever
• 24:24
  you're doing in your daily life, if you have options, you need to
• 24:27
  be monitored those like a hawk, right?
• 24:29
  And so if you don't have time to monitor position, like
• 24:34
  definitely don't start one. The other thing is when you do
• 24:37
  have profits, I think the role of thumb still applies as well,
• 24:40
  like being able to take out your cost basis at a minimum or, you
• 24:46
  know, having a plan. I mean, definitely having a plan
• 24:49
  like, you know, once I get to this level, I'll take out a
• 24:51
  third or monetize third, monetize 1/2, whatever it is,
• 24:54
  right. But I think that for options
• 24:58
  that one of the biggest problems that people have is like when
• 25:03
  they have profits, they think that there's going to be even
• 25:05
  more and they just keep riding them.
• 25:07
  And then they and something happens like tariffs happened or
• 25:12
  yeah, the initial part of this Israeli Iran conflict happens if
• 25:16
  the market pulls back and then all of a sudden you're down on
• 25:19
  the options. And then maybe if they're
• 25:21
  shorter dated, they expire worthless.
• 25:23
  So, So yeah, I think, I think if you, they're, they're good
• 25:29
  tools, but you've got to be very disciplined in how you use them.
• 25:34
  And, and no, like definitely have a plan like you, you have a
• 25:40
  certain time frame of when you're gonna hold them.
• 25:42
  If the thing doesn't happen by then, like you're gonna close
• 25:44
  out and you're gonna risk a certain amount and if you hit a
• 25:48
  certain profit threshold at a minimum, these are the levels
• 25:51
  where I'm taking profits to to cash out of that position.
• 25:55
  But I don't I don't know is that is that answer your question?
• 25:58
  Is that helpful? No, super helpful.
• 25:59
  Thank you so much. And a side question for you is,
• 26:04
  sorry, a related question is given all you know, all the mask
• 26:09
  influencers talking about Starlink over the last couple of
• 26:12
  days, any thoughts on what's coming?
• 26:15
  Like in my head it's probably like the first net announcement
• 26:21
  or any any thoughts on that? Any speculation?
• 26:27
  I don't that's a good question. I mean, there's a first net
• 26:30
  webinar on the 26th, but I don't know if that would be, I don't
• 26:36
  know if that would prompt cause like there to be a definitive
• 26:41
  agreement with first that or multi year contract.
• 26:44
  But yeah, I mean there's there's definitely things that are that
• 26:47
  are ripe, that are very ripe to be announced.
• 26:51
  Whether it's a Verizon definitive agreement or we find
• 26:55
  out that a combination of FM 1 is fully built and tested and
• 27:01
  ready for shipment or it already has shipped or it has shipped
• 27:04
  and is already landed in India. Like that could come out.
• 27:09
  There could be any number of this, you know, government
• 27:16
  contract that government contracts, maybe expansion of
• 27:19
  those awards could come out or something around Golden Dome.
• 27:23
  I know it's early, but you know, I, I, I recently had talked with
• 27:28
  the company just to, just to catch a conversation and you
• 27:33
  know that I, I similar to like the the quarterly call.
• 27:37
  I think there's this level of competence that they will be
• 27:41
  involved somehow with in Golden Dome.
• 27:43
  I mean, obviously like no one knows for sure, but that that
• 27:48
  timing, I mean, who knows, Like that could drop anytime as well.
• 27:51
  So, yeah, I mean, it's your speculation is good as mine, but
• 27:56
  it does feel like just given their stock price movement, it
• 28:01
  feels like maybe there's people that now or maybe something's
• 28:04
  coming. Because I, I, I think I'm
• 28:07
  surprised too at how strong the stock price has been over the
• 28:11
  last, you know, several days. And part of it I, I think people
• 28:15
  should understand like you have a very large short interest and
• 28:20
  all of a sudden some of those folks decide to cover their
• 28:22
  short and the stock moves up because of it.
• 28:26
  It's not as if like that's that must, that's not necessarily a
• 28:29
  short squeeze. That's basically people buying
• 28:31
  back the, the shares that they shorted and the stock getting
• 28:34
  back to a level of where it should have been had those
• 28:38
  people not short the stock. So, you know, one question that
• 28:42
  I've asked myself is like where would AST space mobile be at a
• 28:47
  steady state? Like if there were no shorts in
• 28:50
  the stock, like if there was putting aside the convertible
• 28:53
  are who have to be short stock, you know, against the bonds.
• 28:56
  But let's say theoretically if the short interest is at 0,
• 29:01
  where would the stock equilibrium be?
• 29:03
  Like would it be a 607080? I don't know.
• 29:07
  But yeah, I, I think any number of those things could drop in
• 29:11
  the next few days, weeks. But there's a lot of potential
• 29:14
  catalyst. And you know, it's, it's funny,
• 29:17
  when I did catch up with management, one of the things
• 29:21
  that we both kind of joked about was like back in the day, it
• 29:24
  could be 2-3 months before, you know, between like APR or
• 29:29
  something interesting that was announced because, you know, the
• 29:32
  company was at a very early stage of development and
• 29:36
  executing. And, but there's, there wasn't
• 29:38
  really much they could share with people.
• 29:40
  Whereas now there's so many irons in the fire, whether it's
• 29:43
  on the commercial side, government or military.
• 29:47
  And so I think we've been spoiled quite candidly the last
• 29:51
  few weeks of all the news, either directly from the company
• 29:55
  or the movements we've seen in the FCC docket.
• 29:59
  And so, so now it's Kook has pointed out in the spaces or as
• 30:06
  we talked about in our the space catch up every week.
• 30:09
  There's like there's not too much to talk about.
• 30:14
  Yeah, now's time where there's the people who I guess it was
• 30:20
  like a few, I guess it was in yeah, maybe it was a month or
• 30:24
  two months ago where they were lamenting that stop is sideways
• 30:26
  and there wasn't much going on. Those people aren't planning on
• 30:30
  you because there's a lot going on.
• 30:34
  But yeah, thank you, Jacob, back to you.
• 30:41
  Yeah, thanks, man. Hey, Chris, I see you jumped on
• 30:43
  man. How's it going?
• 30:45
  Well, I just came on to congratulate the space mob, I
• 30:49
  mean y'all, so I started covering ASTS not too long ago
• 30:55
  and I was just frankly floored by the amount of research that
• 31:00
  that you guys have done and I and you know and a pan man.
• 31:03
  Thank you for coming on that day with and I think really that
• 31:06
  laid the long term bull case out for this company.
• 31:09
  And especially if you look at the business model, I think
• 31:12
  that's the key thing that really, really intrigued me
• 31:15
  because like one of the things that I do when I invest is I try
• 31:19
  to find business models that are up and to the right that have
• 31:22
  very little risk from waffle, you know, from things waffling,
• 31:26
  you know, the economy tends to go up, down, left, right, but
• 31:29
  there are certain business models that are going to be up
• 31:31
  and to the right. You look at something like Waste
• 31:33
  Management, that is an up and to the right business.
• 31:37
  It's very hard to find businesses like that and
• 31:40
  especially getting in on it at such a low valuation that you
• 31:45
  can actually make a material great return over a long period
• 31:49
  of time. I know some of you guys have
• 31:50
  been in here since like the twos and $3 and and you guys deserve
• 31:55
  that, that 25 X return, which by the way, I don't even think
• 31:58
  Warren Buffett has gotten over the last like 30 years.
• 32:01
  So, you know, it's just goes to show that sometimes if you do
• 32:04
  those in depth research, you, you will get, you'll get
• 32:08
  rewarded significantly. So just like I said, I came on
• 32:11
  for that. And once again, the amount of
• 32:14
  research that this community does is just, I'm, I'm floored
• 32:17
  by the amount of crowdsourcing that can actually happen.
• 32:21
  While some of these other, you know, more institutional focused
• 32:26
  people, they hire, they'll hire professionals to go and do do
• 32:31
  analysis and they don't even come up remotely with what what
• 32:36
  you guys came up with. So like I said, I just came on
• 32:38
  to basically glaze you guys a little bit while while I'm
• 32:42
  actually enjoying because I actually bought a lot of call
• 32:44
  options on this and. The last few weeks have been
• 32:47
  nice. Yeah, Yeah.
• 32:51
  Thanks, man. Thanks for coming up.
• 32:52
  Yeah, I, I enjoyed, I enjoyed that space we do with Amit.
• 32:56
  And then I really enjoyed hearing your perspective because
• 33:00
  quite candidly, I've, I've been listening to myself for way too
• 33:03
  long. And so it's always refreshing to
• 33:06
  hear other people's perspectives, especially folks
• 33:11
  that are newer to the story. And so, so that was great.
• 33:15
  But yeah, it's it the the great thing about this company and
• 33:19
  quite candidly, like a few others that are out there, you
• 33:23
  know, when you do have a large retail following, but more
• 33:26
  importantly, I think a lot of institutions will can and do
• 33:31
  look down our retail investors. But what I think people
• 33:36
  misunderstand is that often times a lot of folks who are in
• 33:40
  the retail investing community come from different professions
• 33:43
  and different backgrounds, helps when working collaboratively
• 33:48
  together, helps in developing really solid research.
• 33:53
  So I think you're right on that. Yeah, no, it's, I'm, I'm happy
• 33:57
  to hear that you have invested and are doing well.
• 34:02
  This it, yeah, it wasn't always like this.
• 34:03
  You know, some of the people who who did buy it too, we're also
• 34:09
  averaging down because they bought it 1012 or wherever it
• 34:12
  was. So, so that was, that was a
• 34:15
  pretty brutal journey. But I think what's interesting
• 34:18
  is I was talking about it with Cook earlier today.
• 34:21
  Had it not been for some of those difficulties and going
• 34:26
  through that, that period, but and and also being forced to
• 34:30
  really dig in in terms of research and having a level
• 34:33
  conviction like most folks wouldn't have had ended up with
• 34:37
  these really quite candidly like oversized overexposed positions
• 34:42
  down at those levels. Then had the conviction to hold
• 34:44
  on not selling at 8:10, 12/20, 30 or whatever it is to see
• 34:51
  where we are today, which is pretty nice.
• 34:52
  Yeah, For me, a lot of the positions that I have right now
• 34:55
  are in options, but I plan on converting them to just plain
• 35:00
  chairs and just putting them into a nice long term portfolio.
• 35:03
  Because like I said, if you, if you find these businesses at an
• 35:07
  early stage and you make a meaningful position, you don't
• 35:11
  have to look at them for the next 10/15/20, even maybe half a
• 35:15
  decade away. You know, I think a lot of
• 35:17
  people, they keep repositioning their portfolios to try to
• 35:20
  navigate certain, you know, certain times in, in, in the
• 35:24
  economy. But once again, if a business
• 35:27
  model is strong and you can see it moving up into the right,
• 35:31
  just like how American Tower was in the year 2000, you know, ask
• 35:35
  anyone in the year 2025 how they feel about their returns.
• 35:38
  And trust me, you've, you've outperformed the market
• 35:42
  significantly. And all you really needed to
• 35:44
  know was, OK, what is this company's business model and how
• 35:47
  is it going to generate revenue and how is it going to reward
• 35:50
  shareholders for holding? And from what I can see, the
• 35:53
  path to cash flow and dividends is immense.
• 35:57
  So even though right now everyone's looking at it like,
• 35:59
  oh, this, this thing's run up and should I buy in now?
• 36:03
  And I usually I, I just tell people very simply like, OK,
• 36:06
  this is a $15 billion market cap company.
• 36:08
  And you know, just because the market cap may seem elevated,
• 36:12
  remember the share counts are always there.
• 36:14
  So as this thing cash flows, they buy back shares, they issue
• 36:18
  dividends, your total return is what you're going to get from
• 36:21
  that. And this this thing is going to
• 36:23
  have crazy gross margins that they're going to be able to
• 36:27
  reinvest in growing your constellation and also doing
• 36:30
  additional free cash flow towards buybacks and dividends.
• 36:33
  So like I said, as from a business model standpoint, this
• 36:36
  is one of those businesses you put in a long term portfolio,
• 36:39
  you don't look at it every day. You just you know, when when it
• 36:42
  goes up, it's like, yeah, great. When it goes down a little bit,
• 36:45
  like whatever. And and like I said, you don't
• 36:48
  look at it until 2035 and you know it'll be a meaningful.
• 36:51
  Part of your wealth. Yeah, I 100% I agree.
• 36:58
  It's there. There was a an OG investor.
• 37:01
  He's not with us anymore, Steve Larrison.
• 37:03
  And he he lamented the days that he had sold Amazon many years
• 37:09
  ago and he would tell us over and over again for people who
• 37:13
  had weak knees holding AST ES like I I went through it with
• 37:18
  Amazon where I sold it way too early.
• 37:20
  I'm not doing it again. And this company is special and
• 37:23
  I'm holding it. You know, I'm going to see it
• 37:26
  through. And so yeah, no, I agree.
• 37:29
  I think I think when you find a unique growth growth company
• 37:35
  like like ASD space mobile, you know, the worst thing you can do
• 37:39
  is keep staring at it and be forced for, you know, force
• 37:42
  yourself to sell out too early or do something versus like we
• 37:46
  always joke. You know, it's probably better
• 37:49
  to put yourself in a coma and and and just don't look at the
• 37:53
  company and then revisit it 10 years from now and you'll be
• 37:55
  happy. Absolutely.
• 38:00
  Hey. While I I I got some more people
• 38:03
  jump up on stage, but I got one person asking a question if
• 38:06
  you're good. I know you probably can't read
• 38:08
  the comments right now, but I'll try to regurgitate.
• 38:11
  This is from count of gamble and he was asking about it says what
• 38:18
  did Oh wait, that's not it, sorry.
• 38:22
  Oh, OK. So are the drops that open a
• 38:25
  short attempt to bring it down or tapping of the ATM seems
• 38:29
  orchestrated every morning. And then he was referring to the
• 38:34
  convertible notes from the January ATM and he says we're at
• 38:39
  10 of 20 days over 3535 conversion price.
• 38:43
  So I don't know if you can do anything with that.
• 38:46
  Sorry, I didn't quite understand it.
• 38:48
  That's all right. Yeah.
• 38:50
  So let me go backwards on the convertible notes.
• 38:55
  Those should have no impact on the stock.
• 38:57
  If anything, I think we, we Kevin back and Cook talked about
• 39:01
  it a bit. There's probably some level of
• 39:04
  covering from the converts because those guys are probably
• 39:07
  on a, what we call like a, a 1D, a full hedge on the, the
• 39:11
  underlying call option in the convertible.
• 39:14
  And so that happens, well, probably closer to the low 40s,
• 39:19
  but now there shouldn't be any impact on their hedging.
• 39:22
  If anything, there probably has been over the last few days,
• 39:26
  some of the convert arbs unwinding that trade, meaning
• 39:30
  they covered stock and and sold the bonds because I think those
• 39:33
  bonds as you move up you, you, it starts to cheapen and it and
• 39:39
  because the borrow cost on the on the short side is going up,
• 39:42
  it's not a good idea to hold on to that trade.
• 39:45
  So what you're probably saying is some of those guys actually
• 39:50
  sell the bonds to fundamental holders or fundamental long only
• 39:53
  buyers and then covering stocks. So that them covering is, is
• 39:58
  probably helped fuel some of this move up.
• 40:01
  But the question about ATM usage, So the company is very
• 40:09
  they're, they're, they've now become very good at this.
• 40:11
  They're probably better traders than than I am.
• 40:15
  So I, I don't think the company when they are using the ATM
• 40:19
  they're they're not doing it on days where they're going to move
• 40:21
  the stock. If it's a quiet day, they might
• 40:25
  look to do you know, single digit percentage of E WOP only
• 40:29
  if the stock is up. They certainly aren't going to
• 40:31
  do that at the open. And as we saw I guess in the 13D
• 40:37
  filing recently for about I think they raised like 2, if you
• 40:42
  assume that they, they basically were at V WOP since the previous
• 40:46
  share count which was filed, I think it was I think in early,
• 40:51
  no mid-May, they probably raised about $280 million during this
• 40:56
  entire move up, which is pretty crazy.
• 40:59
  And given the most recent volumes that have happened,
• 41:01
  they've probably, probably that's closer to 300 low three
• 41:06
  hundreds. As some of you know, the ATM
• 41:09
  that they filed was 500 million in size.
• 41:11
  And so I think especially at these stock prices, they should
• 41:14
  certainly be raising some quantum of capital just given
• 41:17
  that we've got a number of things that that do require
• 41:22
  capital, whether that's getting production ramped up, paying for
• 41:26
  materials for new Bluebird satellites, but also just having
• 41:31
  the ability to raise money at this level is great.
• 41:34
  I think it's just a prudent thing to do given the the stage
• 41:36
  of the where the company is. And then who knows, there might
• 41:39
  be some other interesting spectrum deals for them to do in
• 41:44
  other regions outside of just Lucado.
• 41:46
  But so no, I don't think it's company, they're not going to be
• 41:51
  using the ATM with it when the stock is down.
• 41:53
  Like they'll be using it on a strong day where the stock is
• 41:55
  out. But I do think in terms of is it
• 42:00
  potential shorts or algos, I do think it is like the reason why
• 42:06
  I say that. And sometimes people are like,
• 42:07
  well, how would you know? That doesn't make any sense on
• 42:10
  on Monday and Tuesday, especially Monday, you saw
• 42:15
  pretty aggressive selling. I think it was pre market, but
• 42:18
  then at the open the stock went all the way down to like 43.
• 42:22
  And I think there's if I was a short seller, I'd be pretty
• 42:27
  desperate. And you'd be willing to, you
• 42:29
  know, trade a few 1000 shares to try to dictate the price and
• 42:33
  hopefully get kind of a spiral going or, or, you know, some
• 42:36
  stop losses getting hit and then forcing the stock price to go
• 42:39
  lower. Because I know like for for
• 42:42
  hedge funds, like oftentimes whether it's pre or post market,
• 42:45
  you might see people buying stock to hoping to make things
• 42:49
  go up or shorting stock or selling stock to make, you know,
• 42:53
  to kind of influence sentiment, which I think for any individual
• 42:58
  investor, when you see stock price movements pre or post
• 43:02
  market or overnight, it does have some psychological effect.
• 43:06
  And so there is, there is a, there is a reason for that,
• 43:10
  that, that people would do that. So just like I think it was like
• 43:14
  the Q3 quarterly update in 2024, this is like after, after the
• 43:22
  launch, No baby, sorry. It was AQ 2 update that morning.
• 43:27
  Like after the call was done, the stocks had sold off a little
• 43:30
  bit after the call. But then that morning somebody
• 43:34
  tried to walk the price down and it wasn't for that many shares.
• 43:37
  Maybe it was like 10 or 20,000 shares, like they walked the
• 43:40
  price down, but then right at the open the, the stock
• 43:43
  immediately gapped up. And then it was like, no looking
• 43:46
  back because clearly whoever was trying to like they, they stock
• 43:51
  like they, they got caught. And and then of course other
• 43:55
  whether it was shorts or institutions, their programs
• 43:58
  started kicking in to buy stock because they wanted to get long.
• 44:01
  And so, so, yeah, when you see that type of movement in the
• 44:04
  morning free market and then at the open, if it's a battleground
• 44:11
  stock like ours is, and there's, there's a heavy short interest,
• 44:15
  people definitely do try to play games to try to influence the
• 44:20
  stock for the rest of the day. And you know, oftentimes it does
• 44:23
  work because like you'll see on Twitter people complaining like
• 44:28
  somebody must be manipulating the stock or, or the company
• 44:31
  must be using the ATM. And and then that kind of like
• 44:39
  snowballs, like especially if the stock isn't doing well or
• 44:43
  it's trading sideways and people get impatient.
• 44:46
  I think for folks who are, it is clear like, you know, algos do
• 44:51
  follow sentiment. Like on Bloomberg, for example,
• 44:54
  there's a function called TREN Trent and you can see what
• 44:57
  social velocity is like what sentiment is that it's positive
• 45:00
  or negative. And you know, algos will they'll
• 45:04
  plug into Bloomberg AP is or Twitter AP is they'll definitely
• 45:09
  gauge sent a bit and that will dictate kind of how they trade
• 45:11
  things. And so all this stuff actually
• 45:14
  doesn't matter. And it and for retail, like for
• 45:18
  you and I like it's it's also helpful too, because I think
• 45:21
  when again, going back like a month, two months ago when there
• 45:25
  was a lot of people who were upset because the stoppers
• 45:29
  trading sideways. I guess sometimes we, we joke
• 45:32
  like you can tell who's long, short dated options because it
• 45:35
  allowed us the folks who are whining the most when things
• 45:39
  aren't going their way. But that, that being able to
• 45:43
  kind of read sentiment from investors, whether it's in this
• 45:46
  stock or other stocks that can give you a good sense of like,
• 45:50
  hey, things are maybe perhaps too euphoric or things are at a
• 45:53
  low sentiment. You know, if you look at such a
• 45:57
  bit right now for AC1 would argue, one could argue like
• 46:00
  they're quite euphoric, which it's kind of funny because like
• 46:05
  normally I try not to be too euphoric because I always have
• 46:09
  like some level of superstition of like, hey, I don't want, you
• 46:13
  don't want to like celebrate the touchdown before you actually
• 46:16
  get into the end zone or any of that stuff.
• 46:18
  But this time around, it's like, you know what, it's time to
• 46:21
  celebrate because like we're above 50.
• 46:23
  It's a big milestone. I think I think people, there's
• 46:26
  a lot of positive things that are coming that are it's
• 46:30
  undeniable. Like you can't, you know, we
• 46:32
  have these catalysts that are that are going to like like a
• 46:35
  sledgehammer are going to slap people in the head.
• 46:37
  And so even if we do have some level of drawbacks, I draw downs
• 46:41
  from here, you know, to have, for example, a launch of
• 46:47
  Bluebird satellites every 30 to 60 days, like that's going to be
• 46:51
  really tough for anybody who's short the stock or skeptical or,
• 46:56
  or if you're long, like it's just something that's something
• 46:58
  to look forward to every month or month and 1/2 or two months.
• 47:03
  And so having that cadence, I think it's great.
• 47:05
  And so I think we're, we're kind of at this inflection point
• 47:07
  where everything we've been waiting for is now finally
• 47:10
  coming to fruition and, and it's great.
• 47:13
  So anyway, now I'm rambling, but I'll just pause there.
• 47:17
  No, you could, man. It's, it's exciting.
• 47:21
  There was somebody who was asking about the, what if Blue
• 47:24
  Origin could deliver or not? And I, I already, I responded,
• 47:27
  but I told him, like, if, if Blue Origin can't, F9 can.
• 47:29
  Like it's, I don't know, like, and then let's say let's like
• 47:33
  this is, this is me going to, because the launch area is the
• 47:35
  only area I feel like a comfortable and talking about
• 47:38
  the stocks. But if, and if it's like Blue
• 47:40
  Origin has like significant problems and, and you know, this
• 47:44
  is 18 months down the line or something like that and they
• 47:46
  still can't keep up with the band.
• 47:47
  You know, F9's going to fill in that space.
• 47:50
  I, you know, I, I wouldn't be the surprise of the company
• 47:52
  would look at another third, like 4th launcher at that point
• 47:56
  either. Like I feel like they had,
• 47:57
  they're going to have the capital to make the move that
• 47:59
  they need to, to get the satellites up.
• 48:01
  If there was some, if there was some like, you know, long term
• 48:03
  problem with Blue Origin, But I, I, you know, that's just an
• 48:06
  outside thing. I just, I don't know, I don't
• 48:08
  feel like they're, they're all their eggs are not one basket
• 48:10
  with launchers. So I was getting in.
• 48:15
  Yeah, I think that's right. I mean, I think Blue Origin, you
• 48:18
  know, obviously spaces are it's, it's taking their time.
• 48:21
  They were successful in their new Glen launch, but then they
• 48:25
  obviously didn't land it. I'd heard some some feedback
• 48:30
  that there was only a few minor things that that prevented that
• 48:34
  potential first landing. But but who knows, right?
• 48:38
  Like it's, it's, I think the key thing is that they need to get
• 48:43
  war, they need to get more launches, you know, whether they
• 48:48
  land them or not. I mean, it would be great if
• 48:49
  they can, you know, the boot, if they can return the boosters.
• 48:52
  But you know, the company seems very confident in the origin and
• 48:58
  their capability. So yeah, I mean, they have
• 49:02
  multiple providers. So they have Israel.
• 49:04
  I don't, I don't know if they've had any discussions about Israel
• 49:08
  potentially expanding into more launches, but then they do have,
• 49:13
  of course, SpaceX Falcon 9. And so that's, that's why it's,
• 49:18
  it's nice to see the company raising some additional capital
• 49:20
  because like, if you do need to backfill, then you can pay for
• 49:24
  those. And I think, you know, there's
• 49:26
  always been this debate amongst the community, you know, is, is
• 49:32
  launch capacity constrained? And I think as some people have
• 49:35
  finally recognized over the last few months or weeks, you know,
• 49:42
  SpaceX actually has capacity, but they just choose when
• 49:46
  there's not enough customers, they just choose to fill that
• 49:49
  capacity with more startling satellites.
• 49:51
  But choosing between the two, a paying customer versus launching
• 49:55
  your own internal satellites, the payback of that, obviously
• 49:58
  you're having cash in hand now versus having to, you know, wait
• 50:02
  for the entire constellation to pay you back to those launches
• 50:05
  over time. Like that's I think, you know,
• 50:09
  SpaceX would prefer to have paying customers upfront.
• 50:12
  So, so I don't, I don't view it as a big risk, but but obviously
• 50:17
  it would be great if the origin new Glen, if that program can
• 50:23
  mature and get on a a, you know, regular cadence.
• 50:27
  Yeah, I agree. I mean like that that's the
• 50:30
  ideal. And yeah, as soon as they can
• 50:31
  start landing those boosters that that will, that will, is
• 50:34
  what they're will take their cadence up faster because,
• 50:37
  because then they're not having to, you know, rebuild a whole
• 50:41
  new booster every time. So as soon as they start landing
• 50:43
  those, that that's what is going to increase their cadence
• 50:45
  quicker. Crypto Luke, I see you've been
• 50:49
  waiting for a minute, man. Do you want to ask something?
• 50:52
  Yeah, for sure. I just wanted to share my my
• 50:54
  story if that's OK. Yeah, let's yeah.
• 50:58
  So I was one of the SPAC guys in 2021 that AMPAM man was kind of
• 51:02
  hitting on. Like we made a lot of money.
• 51:05
  Like personally, I was kind of all in on Virgin Galactic and I
• 51:08
  rode that up. I did take some profits in the
• 51:11
  30s, but then I kind of took it into other things.
• 51:14
  Thankfully, AST was one of those things and you know, I was on
• 51:19
  StockTwits a lot. Not too much on Twitter or X too
• 51:22
  much, but I was on StockTwits a lot.
• 51:24
  So thank you so much for posting on StockTwits because that's
• 51:28
  where I was at those days. And then I think I just joined X
• 51:31
  like last summer as AST. It was started to go crazy and
• 51:34
  beyond our wildest dreams and everything.
• 51:37
  But yeah, I was really depressed for a couple years because I
• 51:39
  just rode that SPAC boom all the way down because I'm super
• 51:43
  stubborn. And thankfully, you know, I
• 51:46
  shifted most of that money, pretty much all that money
• 51:49
  eventually went into AST. So did did pretty well.
• 51:55
  Not as well as some people, but, you know, did pretty well.
• 51:57
  I'm in. I'm in the seven figures now.
• 51:59
  So pretty exciting. But yeah, it's just been an
• 52:05
  amazing, amazing story. I lost 500 shares last year
• 52:10
  selling calls during the summer. I had just lost my job at
• 52:13
  Amazon, so I had sold some calls to go get a haircut for
• 52:18
  interviews and whatnot. And then I lost, lost those 500
• 52:21
  shares through the the Verizon dealed up to all of us.
• 52:26
  Oh, yeah, yeah. So learned my lesson.
• 52:28
  Don't sell too many calls. Maybe sell a little bit, but
• 52:30
  don't sell too many because you don't want to lose your whole
• 52:33
  position because that's just a bad day.
• 52:36
  And then the taxes you get hit with on top of that.
• 52:39
  But yeah, if you don't mind, I kind of want to chime in and
• 52:43
  agree with crypto loop there. I was want to be, I start
• 52:48
  investing around like $12.00 share price too.
• 52:51
  And I wrote do it all and I was on vacation last week.
• 52:54
  I saw it go to 35. So I sold call them my whole
• 52:58
  position for 42 and I I bought some of them back, but a large
• 53:04
  part of my position got called away and today I was like
• 53:09
  waiting for the dip, but I was like fuck it.
• 53:11
  It's just a few dollars. I bought back in again at like
• 53:14
  51. So now I have a tax bill to my
• 53:18
  position smaller by like 20%. And it's feels like I kind of
• 53:23
  made a silly mistake because I helped you at all the whole down
• 53:27
  periods, flat periods and just when we made money, I missed out
• 53:30
  a lot. But I guess I just want to say
• 53:32
  for everyone, I kind of learned my lesson and I'm just going to
• 53:35
  hang on to it. And really the best thing I can
• 53:38
  do here is nothing. So I was a little sad.
• 53:40
  But I just thought like sharing. Yeah.
• 53:42
  So what I try to do is, yeah, I try to go and trade something
• 53:45
  else because I love to trade. I used to have like my Series 7
• 53:49
  and stuff, so I love to trade. So I try not to trade AST
• 53:54
  anymore. I try to just hold on to it.
• 53:56
  But you know, I'll go trade some other penny stocks that I want
• 53:58
  to mess around with. Brianne.
• 54:01
  Yeah, hard, hard learned lessons.
• 54:02
  Yeah, then I went to the launch last September.
• 54:05
  I didn't meet everyone. There's so many people at the
• 54:07
  launch, but I got to meet a couple of cool people.
• 54:09
  Like I think I met Awesome Beast and a couple others.
• 54:13
  But yeah, anyway, it was just just been such a fun thing to be
• 54:16
  a part of. Appreciate everyone doing the
• 54:18
  spaces. I like to like to join from time
• 54:20
  to time and just, you know, get, get the DD and a lot of these
• 54:25
  guys, they're so much smarter than I am.
• 54:27
  Like I'm not completely retarded, but they're so much
• 54:30
  smarter. Like I would never have found
• 54:32
  like a lot of this research without a lot of you guys.
• 54:36
  So thank you, thank you, thank you.
• 54:41
  Yeah, that's so cool. Congratulations on on on making
• 54:44
  it back. I mean, I think we all went
• 54:46
  through that brutal period like in 2020 and 2021, like you
• 54:51
  couldn't, it was hard not to make money first of all.
• 54:54
  But then when 2022 hit, it was like when rates went up and you
• 54:59
  know, there was there was inflation issues, of course, and
• 55:02
  then, you know, all the all the different specs like went down.
• 55:07
  And then of course his D was no different.
• 55:11
  But yeah, it was it was a tough time like to have the conviction
• 55:15
  to hold and to add, which I think a lot of people did over
• 55:19
  that that difficult period. And I'm sure there were plenty
• 55:23
  of ice where you where you had regrets.
• 55:25
  I mean, I certainly did for sure.
• 55:28
  But then you know, Fast forward to today, which is why I think
• 55:32
  everybody is so elated for those that whether you were holding
• 55:36
  for four years or you were recently, you recently bought
• 55:39
  in, it's just like a tremendous milestone for this company that
• 55:44
  was basically a venture investment for the public
• 55:47
  markets to actually make it for the beef grinder and is now on
• 55:52
  the cusp of commercialization, which is which is enormous,
• 55:55
  right. And I think even today at
• 56:01
  whatever 15 or $16 billion market cap, like it's still
• 56:04
  relatively unknown, unknown company.
• 56:08
  But soon enough when AT&T and Verizon roll out data and then
• 56:12
  initial service, like it's going to be a household name that
• 56:15
  people know, which is kind of scary to think about because
• 56:18
  then if if people enjoy their experience, it's like, oh, well,
• 56:22
  how do I, how do I invest in this?
• 56:24
  And then, oh, there's this company called G Space Bowl.
• 56:26
  Maybe I'll just throw a few shekels at that.
• 56:28
  But I think I think the other thing is going back to what S
• 56:33
  was saying, like when you sell calls, just like another thing
• 56:37
  is that you kind of make decision or you take the
• 56:40
  decision making out of your hands.
• 56:41
  Because like if you have a position you've held for nine
• 56:45
  months, for example, and you sell calls that are, you know,
• 56:49
  maybe a few months out, but then the company, the stock trades
• 56:52
  through the calls and then your stock gets called away early.
• 56:57
  Then you all of a sudden have a short term capital gains that
• 57:00
  you didn't want right now. You can always go back and just
• 57:04
  buy the calls back. So that doesn't happen.
• 57:07
  So you can maintain your long term capital gains, but or, or
• 57:10
  your path to long term capital gains.
• 57:12
  But I mean, that's another thing that I think is that people
• 57:16
  should recognize is that, you know, selling calls.
• 57:19
  I mean, you're basically shorting A synthetic put, right?
• 57:22
  So you're, you're collecting insurance and you've given away
• 57:27
  the upside in the stock. And then if something bad
• 57:29
  happens, then you wear the entire renaissance.
• 57:31
  So calls are not riskless like when you sell them against
• 57:35
  stock, you're basically it's the same you're selling in the money
• 57:37
  woods. So just be confident of that.
• 57:41
  And if you've got something that you want as long term capital
• 57:46
  gains and it's and then it's or it is long term capital gains
• 57:50
  and then it gets exercised. All of a sudden you have to
• 57:53
  restart the clock again, went with a new position, which can
• 57:56
  suck, right? So but yeah, thanks for sharing
• 57:59
  your experience. I think I think it's good for
• 58:02
  people to hear, you know, real world, you know, experiences
• 58:08
  drive from. Yeah, if we can save one person,
• 58:09
  totally worth it. Yeah, absolutely.
• 58:11
  No problem. Thanks guys.
• 58:15
  Thanks for growing. Up yeah, so at least I mean, I
• 58:19
  felt this make me feel better anyways, I don't I'm not the
• 58:21
  only one that did you know. So there was a couple other
• 58:26
  questions on here some people were asking.
• 58:33
  Sorry, I lost it. That's alright.
• 58:38
  I did want to mention that StockTwits is a crazy place.
• 58:43
  Like I I do go on there from down to time, but it's just
• 58:48
  you're crazy about Patron. Wow.
• 59:05
  Is it just me or did anybody else not hear him?
• 59:07
  It's just me. I'll shut up.
• 59:09
  Yeah, I think he's cutting out. And pen man, you're cutting out.
• 59:14
  Maybe you're losing service a little Better keep trying, OK.
• 59:26
  No, it's. OK, let me.
• 59:30
  No. It's enjoying, yeah.
• 59:31
  I got no Very. I I hear you now.
• 59:34
  Wait. Wait.
• 59:34
  Don't leave. You're good.
• 59:35
  Well, I hear you now. Everything's fine.
• 59:38
  OK, no, I was just saying, like I was just saying that Stuck
• 59:41
  Twits is a is a funny place because like, it's a bunch of
• 59:43
  noise and I don't get how people can be on there because it's,
• 59:48
  it's like it's like a zoo unless I guess you filter stuff by
• 59:52
  popular post, but funny enough, like just to evangelize about
• 59:58
  the company. I did, I I used to be a bit
• 1:00:00
  active there as well. And then that's actually How I
• 1:00:03
  Met Kook because that's where he was.
• 1:00:05
  He lived on StockTwits. And then we randomly kind of
• 1:00:09
  chatted with each other and then that's how we kicked off our
• 1:00:12
  friendship. So, and I know Katzie spends a
• 1:00:15
  lot of time there as well, but yeah, are there any other
• 1:00:20
  questions? Yeah, I got 1.
• 1:00:22
  So I want to come. Up or yeah, yeah.
• 1:00:25
  And by the way, if somebody's just joined or joined late, if
• 1:00:27
  you guys want to jump on stage, tell a story about, you know,
• 1:00:30
  what's like the elation for what Anything else like that or just
• 1:00:33
  want to ask MPMN something, feel free to request in.
• 1:00:38
  And while we're waiting for the next person I see somebody asks,
• 1:00:41
  it says can you please talk about tools that you use for
• 1:00:44
  training or gathering inputs? I know you talk about Bloomberg.
• 1:00:47
  Bloomberg Sometimes. Yeah, Bloomberg.
• 1:00:50
  I, I use Bloomberg, but it's probably not for everybody.
• 1:00:54
  I, I, I pay for it because I'm just so used to it and it's very
• 1:00:57
  powerful, but it's expensive. It's like $40,000 a year.
• 1:01:02
  So however, it there, if, if you do want tools that are, that are
• 1:01:08
  similar and are very powerful, 11 platform I recommend is Koi
• 1:01:15
  Fin K KOYFIM. Kyfin's pretty good at
• 1:01:21
  analyzing, you know, pulling up financial information for
• 1:01:24
  companies, also providing you with like estimates, like Wall
• 1:01:27
  Street estimates for projections, things like that.
• 1:01:31
  But and also news too. But yeah, Bloomberg is like,
• 1:01:36
  it's a it's got an arcane interface, but it's really
• 1:01:39
  powerful. So that's, that's probably the
• 1:01:42
  biggest tool that I use. Then of course you know Excel or
• 1:01:45
  Google Sheets to do. To.
• 1:01:47
  You know, layoff financials and financial analysis.
• 1:01:50
  But but yeah, I would recommend people using Koifen if you want
• 1:01:55
  to do screens and analyze companies.
• 1:01:58
  That's a really great tool and it's pretty reasonable.
• 1:02:01
  It's probably, I actually haven't looked at it in a long
• 1:02:03
  time, but maybe it's like 60 or $78 a month.
• 1:02:08
  Sweet and KIC jumps on the stage.
• 1:02:11
  You want to ask something to talk about something.
• 1:02:14
  Yeah, I just had. So I'm on the I'm a small fry.
• 1:02:16
  I'm on the exact opposite side of crypto Luke.
• 1:02:18
  I just got into it about 15 days ago.
• 1:02:22
  So I bought about 12 options contracts and I have 350 shares.
• 1:02:27
  So I'm definitely on the small side.
• 1:02:30
  But I have been, you know, going down the rabbit hole of reading
• 1:02:33
  so much about it and more so on Reddit than on Twitter.
• 1:02:37
  But my question is more so about where this company in five to 10
• 1:02:42
  years, I've been reading online that it could potentially be the
• 1:02:45
  main connection space connection for all, you know, kind of
• 1:02:49
  interconnection as far as like telecommunications and, and and
• 1:02:54
  your connection through your cell phone service is.
• 1:02:56
  But wouldn't that make it more of a disruptor to like T-Mobile
• 1:03:00
  and Verizon instead of partnering with them?
• 1:03:02
  Like what? What is the vision if it gets to
• 1:03:05
  like these kind of meteoric $1000 a share kind of I guess
• 1:03:11
  just a quick synopsis of what is the goal with it?
• 1:03:17
  Yeah, yeah. No, so the company is not in
• 1:03:20
  competition with M and OS. They partner with M and OS.
• 1:03:22
  And so in the US that's 18 T and Verizon and then in Europe
• 1:03:27
  that's Vodafone, in Japan, Rakuten and and you know there's
• 1:03:30
  like there's almost 40 or sorry fifty other global M and OS that
• 1:03:35
  they work with. And so the business models that
• 1:03:37
  they actually the MNO controls customer, they're they're
• 1:03:41
  basically like a wholesaler, right?
• 1:03:42
  So they, they provide the consolation that can utilize the
• 1:03:46
  MN OS spectrum and the MNO keeps control their customer.
• 1:03:50
  So imagine like if you are a Verizon customer and you want
• 1:03:56
  satellite broadband connectivity anywhere, then you might end up
• 1:04:01
  Verizon will say, hey, you can pay an extra, I don't know, $10
• 1:04:04
  a month or $15.00 a month to have this service.
• 1:04:07
  And then Verizon put you on the service.
• 1:04:10
  And then when you're out of coverage, Verizon's, you know,
• 1:04:14
  network, then AST space Mobile's satellite will be connectivity
• 1:04:20
  to you in those dead spots. And, and that that 10 to $15.00
• 1:04:25
  will get split 5050 between Verizon and AST space model.
• 1:04:28
  So they're not in competition. What's interesting though is
• 1:04:33
  that they for in the USAST space mobile will be providing
• 1:04:39
  additional or will have access to additional spectrum.
• 1:04:42
  The spectrum is are the Airways that all your data transports
• 1:04:48
  from, whether it's a cell tower or to satellite to your mobile
• 1:04:51
  phone. But they will have access to
• 1:04:54
  additional spectrum in this deal that they did with Gotoware,
• 1:04:58
  which they will still do through a partnership with AT&T and
• 1:05:00
  Verizon. They will allow you to have
• 1:05:03
  broadband data even let's say for example, you're at a you're
• 1:05:08
  at a New York Jets game, right and the cell towers are
• 1:05:11
  completely inundated because there's too many users there.
• 1:05:16
  You through in the future with AC space mobile and Lucado,
• 1:05:20
  you'll be able to actually connect to that broadband
• 1:05:23
  network with the satellite in order to get coverage even when
• 1:05:27
  the cell towers are completely inundated with with users.
• 1:05:30
  Or additionally, like if there's a disaster or in your area, if,
• 1:05:37
  if cell towers go out or there's power outage or something, then
• 1:05:40
  you'll still be able to have connectivity with their
• 1:05:42
  satellite, you know, with your phone.
• 1:05:45
  And so AST space mobile is not it's not a replacement of, you
• 1:05:50
  know, terrestrial coverage for your for your cell phone, but
• 1:05:53
  it's in the areas where either coverage is spotty.
• 1:05:56
  Like, for example, if you go out to LA, there's a lot of canyons
• 1:05:59
  and different areas where people don't want cell towers built
• 1:06:02
  where they, you know, you'll be able to get coverage in those
• 1:06:06
  areas. But then also if you're
• 1:06:09
  traveling, you know, like in a National Park and there's no, no
• 1:06:13
  coverage, well in the future when the service is launched,
• 1:06:16
  you actually will have coverage in all those areas.
• 1:06:19
  Right, and I was reading that it would be more like the same
• 1:06:22
  connection as as in my home. So if I'm, you know, up in a
• 1:06:26
  Canyon, I can still receive pictures, calls, videos, which
• 1:06:30
  was Starling my understanding as you can.
• 1:06:34
  Yeah, with Starlink right now, it's sporadic texting, whereas
• 1:06:37
  this is going to be a full-fledged voice data video.
• 1:06:42
  You know, obviously if there's a bunch of users in a given
• 1:06:45
  location that are all hitting the same satellite, then you
• 1:06:47
  might get throttled down to a degree.
• 1:06:50
  But I think for most, for the most part, when people use their
• 1:06:52
  phones like they want to check news information, they might be
• 1:06:55
  listening to music. They're not like staring at
• 1:06:58
  Netflix while they're hiking in a Canyon.
• 1:07:02
  So they might send like pictures to loved ones.
• 1:07:04
  And so this service is a complement to the carriers and
• 1:07:08
  it'll be something that they can charge basically is like an
• 1:07:11
  additional feature on a monthly basis.
• 1:07:13
  And if you can imagine like, let's say, if you're, if you're,
• 1:07:16
  if you have a family and you have small kids, you always want
• 1:07:20
  to be connected to them, right? And so this is also for Peace of
• 1:07:23
  Mind, like if if your kids are out on a field trip and they're
• 1:07:27
  in a dead zone, you're going to be, I think any parent,
• 1:07:32
  including myself, would pay the additional $10 a month to have
• 1:07:36
  to make sure like you're fully connected with them if they have
• 1:07:39
  an Apple Watch or, you know, maybe you put an air tag in
• 1:07:42
  their backpack or something. And so so yeah, this is going to
• 1:07:45
  be game changing. I mean, besides just cell phones
• 1:07:47
  like Internet of Things, cars, connected cars, autonomous
• 1:07:51
  trucks, autonomous, you know, robo taxis, whatever you
• 1:07:55
  whatever, you, whatever it is like having full coverage all
• 1:07:59
  the time and broadband data is going to be critical.
• 1:08:03
  And so this is this is the the solution that or the problem
• 1:08:06
  that that the company's going to solve.
• 1:08:10
  Thank you so much. I'm going to drop off and I I
• 1:08:12
  really appreciate all the inspections and the community
• 1:08:15
  really, really do. Yeah.
• 1:08:17
  Thanks for that. Somebody wanted to plug that
• 1:08:23
  there's new merch in new ACS merch or something.
• 1:08:28
  So there let's check that out. Oh, on the website still there,
• 1:08:32
  right, right. Maybe.
• 1:08:33
  Yeah, I don't that's what you said out the plug that there's a
• 1:08:36
  mentioned this new merch drop from ASTS.
• 1:08:39
  Oh oh, oh, from the company. Oh cool, I'll just check that.
• 1:08:49
  I on the last person that was up here NK, I just like I don't
• 1:08:52
  know how much you're I know you said you were new and you're
• 1:08:56
  driving into stuff. And so just in case you weren't
• 1:08:58
  aware, I'm not saying you were weren't but the Starling fix
• 1:09:01
  terminal versus Starling direct to sell are two different
• 1:09:04
  services. So I don't I don't want people
• 1:09:06
  to like get confused with thinking that the, you know,
• 1:09:10
  first time that they but this surface comes online, it's going
• 1:09:12
  to be comparable to like the fixed wireless dish service.
• 1:09:16
  It's not going to be at the same speeds initially or potentially
• 1:09:19
  ever because it's not, you know? It's the same.
• 1:09:21
  It's the difference between. Being on Wi-Fi versus being on a
• 1:09:24
  cell phone, right? I mean, correct me if I'm wrong
• 1:09:27
  here and and. Yeah, no, that's right.
• 1:09:31
  Yeah. I mean, I you will get peak
• 1:09:34
  speeds that could be like at 100 a 120 once the full service is
• 1:09:39
  up. But you know, it's probably
• 1:09:41
  going to be more like 20-30 megabits per second, which is
• 1:09:44
  still pretty fast. But then that's also going to
• 1:09:47
  depend on how many users are in the cell as well.
• 1:09:49
  But then going forward, as the company iterates satellites and
• 1:09:53
  gets wore up and densifies the network, that capacity will go
• 1:09:56
  up. I think the Bell has talked
• 1:09:57
  about once massive MIMO gets incorporated into the
• 1:10:01
  constellation, you know, each cell could have a capacity of
• 1:10:05
  750 megabits per second, which is really fast.
• 1:10:09
  Yeah, I see another person has come up.
• 1:10:17
  Oh sorry, Did you want to ask another question?
• 1:10:19
  It was one other question like in West Virginia, Prince have
• 1:10:23
  T-Mobile and I was out in West Virginia and they were saying,
• 1:10:25
  oh, it's AT&T country out there. So I had very infrequent ability
• 1:10:29
  to while I was out in West Virginia to connect and and
• 1:10:33
  speak to people without having Wi-Fi.
• 1:10:35
  So this would basically if I had like AT mobile account or if I
• 1:10:39
  have Verizon or something like that, it it would connect to all
• 1:10:44
  of West Virginia. I no longer have those issues
• 1:10:47
  where it's a dominant like at T Yeah, West Virginia, New Jersey
• 1:10:52
  is T-Mobile, you know what I mean?
• 1:10:56
  Yeah. Well, so the company's not
• 1:10:58
  working with T-Mobile, they are working with Verizon and ATT.
• 1:11:01
  So, but yeah, if in in the future, like if you're out in
• 1:11:06
  Long Island on the beach, you will have full coverage or if
• 1:11:09
  you're even on a boat a few miles off the coast, you will
• 1:11:12
  have a cellular coverage. And then in the future,
• 1:11:15
  depending on how they are, how they decide to plan to cover
• 1:11:21
  perhaps parts of the open, open water like oceans, like you will
• 1:11:24
  have coverage. But even for example, like on an
• 1:11:27
  airplane, you know, you even though you're supposed to turn
• 1:11:31
  off your and maybe the FCC will change us, but you will be able
• 1:11:34
  to use your mobile phone not on Wi-Fi, but on the cellular
• 1:11:37
  network via satellite while you're flying on on an airplane,
• 1:11:41
  for example. Wow, wow.
• 1:11:43
  Thank you. Thanks so much.
• 1:11:46
  Yeah, you're. Welcome.
• 1:11:51
  Hey, I see. Gino, how did San raise and then
• 1:11:56
  Scott? Yeah.
• 1:11:59
  Yeah, hi. I I had a small question for for
• 1:12:02
  Anupam, which is like just rewind back some time, how did
• 1:12:08
  he find this opportunity and like, like how did he come
• 1:12:12
  across this opportunity and how did he evaluate it to, to build
• 1:12:16
  up this conviction? And secondly, like I know the
• 1:12:20
  which is the next, you know, next company like ASDS that he
• 1:12:25
  thinks so can be like, you know, the world changing.
• 1:12:27
  So just want to have his thoughts on three things, which
• 1:12:30
  is a how did he find across this already evaluated back then
• 1:12:33
  when, you know, a lot of people didn't have the conviction?
• 1:12:36
  And three, does he have any other opportunities in in his in
• 1:12:39
  his back pocket? Yeah, so I, I've shared this
• 1:12:46
  before. It was it was actually by luck.
• 1:12:50
  I so I bought stock and warrants permanently warrants in a
• 1:12:55
  company called the New Providence Acquisition Corp,
• 1:12:58
  which was a SPAC that had yet to do a deal.
• 1:13:02
  I started buying this, you know, shares and warrants on
• 1:13:06
  speculation of that the sponsors given their backgrounds that
• 1:13:09
  they would do a good deal. So I started buying in September
• 1:13:12
  of 2020 and then and then of course, they announced a deal
• 1:13:17
  with ASD Space Mobile in December.
• 1:13:20
  And so the reason why I've been buying New Providence is that
• 1:13:24
  given that the sponsors had some background in consumer products
• 1:13:28
  and then telecom. And so back then we were, we,
• 1:13:33
  some of us were speculating on in a Discord that I used to be
• 1:13:36
  part of for, for specs like, you know, perhaps like new province
• 1:13:41
  will take beyond meats or, or one of the like alternative meat
• 1:13:47
  companies public or perhaps like a cool consumer products company
• 1:13:50
  public. But then when they announced the
• 1:13:51
  deal in December, it was like, oh, what is this?
• 1:13:54
  And, and interestingly, I, my background working in the hedge
• 1:14:00
  fund industry as a portfolio manager, I, I did quite a bit of
• 1:14:04
  TMT investing. So I, I knew about the, you
• 1:14:08
  know, telecom landscape and I, I'd actually invested in a
• 1:14:11
  number of spectrum situations as well.
• 1:14:14
  And so I, when I looked at the deck, the concept made a lot of
• 1:14:19
  sense to me. Obviously, back then, as did to
• 1:14:22
  many people, like, you know, I did have some level of
• 1:14:24
  skepticism that they'd be able to do it, you know, connecting
• 1:14:28
  an unmodified phone to this really large satellite, you
• 1:14:31
  know, could they actually make that connection?
• 1:14:34
  And then could they actually deliver broadband speeds?
• 1:14:37
  But then what got me over the initial hump and that day, like
• 1:14:42
  after the deal was announced, I started buying more warrants.
• 1:14:46
  But what got me over the hump was just seeing the fact that
• 1:14:50
  the company had strategic investments from American Tower,
• 1:14:54
  Racketon, Vodafone, Bell Canada. And so to me, that was a big
• 1:15:02
  validation point. And I remember going on Twitter
• 1:15:06
  and seeing some of these, I think it was Johan Weiberg, who
• 1:15:10
  was the now former CTO of Vodafone.
• 1:15:13
  But back then he was the current CTO.
• 1:15:15
  And you know, Johan Weiberg is, is now actually a board member
• 1:15:18
  ASTC Mobile. But there was a video of him.
• 1:15:21
  I think this is like back in 2019 or 18, but I found it where
• 1:15:25
  he had talked about working with AST Space Mobile as early as
• 1:15:30
  2018 on developing this technology.
• 1:15:32
  And so for me that was like a huge validation point where you
• 1:15:37
  had this, you know, Vodafone very large MNO, the biggest
• 1:15:41
  owner of wireless spectrum in the world.
• 1:15:43
  You know, they provide service and either directly to partner
• 1:15:50
  company HTF talks about industry.
• 1:15:52
  They were partnered with the company.
• 1:15:55
  I, you know, I remember reading some of the articles about how
• 1:16:00
  AT&T was helping help this family with AST and then with
• 1:16:10
  the FCC started complaining. And one of the things like
• 1:16:13
  whenever you invest in the telecom sector, if, if
• 1:16:18
  competitors aren't complaining about something you're doing,
• 1:16:20
  then what you're doing is probably not actually worth
• 1:16:24
  anything or, or a threat. But to see like at that time,
• 1:16:29
  T-Mobile and Verizon complain about what AST space mobile was
• 1:16:32
  doing with ATTI was like, oh, that's, that's another big
• 1:16:35
  validation point. Like they feel pretty threatened
• 1:16:37
  by it. And so it was that initial, you
• 1:16:41
  know, that initial work is what got me hooked on the company
• 1:16:46
  that all these strategic partners, some of who had
• 1:16:49
  investments, but also others that were helping develop the
• 1:16:52
  technology. Because, you know, at the time I
• 1:16:54
  think the company had announced too, that they were working
• 1:16:57
  Nokia on the Eno B integration with the carrier's back end.
• 1:17:02
  But yeah, there was just like all these strategic partners
• 1:17:05
  that made sense. And so for me, that was that
• 1:17:09
  gave me enough confidence to, you know, take basically a
• 1:17:13
  speculative bet on the company. But then Fast forward to, I
• 1:17:18
  think it was like it was January or February.
• 1:17:20
  I had my first conversation with the Bell and so we talked for
• 1:17:24
  about he was like an hour, an hour and a half.
• 1:17:27
  And that initial conversation, I think it's still up on Reddit
• 1:17:30
  because I posted it. But after speaking with him and
• 1:17:33
  getting to know him more and that that that's what gave me
• 1:17:38
  more conviction to them. Just keep going down the rabbit
• 1:17:40
  hole. And so it's not as if like I put
• 1:17:43
  on a full size position immediately and that that was
• 1:17:46
  the end of it. This is something that kind of
• 1:17:49
  happened over the course of years where with the help of
• 1:17:52
  like Cat see Kook, Steve Larrison and the others, some
• 1:17:56
  people who who were in the community but then left because
• 1:18:00
  they sold or new people. I mean, it's just, it's been a
• 1:18:03
  never ending kind of learning process where over time, I, you
• 1:18:10
  know, whether I I was, I was confident I was adding to my
• 1:18:14
  position back then or there were times of Forsythe with the stock
• 1:18:17
  was at 2 in the warrants we're at $0.35 where out of disgust
• 1:18:22
  and defiance, like I just kept buying.
• 1:18:27
  But yeah, that's, that's kind of the, the back story of like how
• 1:18:30
  I learned about the company and how I got I guess my initial
• 1:18:35
  conviction. But it was really over the
• 1:18:37
  course of time in terms of just following the company still here
• 1:18:41
  to talk with management, but also just seeing them execute,
• 1:18:45
  you know, also make mistakes too or timeline slipped, which is,
• 1:18:49
  you know, quite common for any startup, but especially startups
• 1:18:52
  that are trying to do something as disruptive as this.
• 1:18:55
  That is also, you know, space based.
• 1:18:58
  It's going to be tough, but let's see.
• 1:19:01
  Are there any other names that I think are transport that I'm
• 1:19:05
  looking at their transformative? Not currently.
• 1:19:07
  I mean, this is really my key investment.
• 1:19:11
  I do have some smaller things that I speculate on time to
• 1:19:14
  time, but I don't, I mean, it's not that there isn't, there
• 1:19:18
  aren't other names out there. There's I'm sure there's money,
• 1:19:21
  but I just haven't had the time to really go out there and kind
• 1:19:26
  of draw a few ideas. So hopefully that answers your
• 1:19:28
  question. Got it, got it.
• 1:19:32
  Thank you so much. One last question, pretty stupid
• 1:19:37
  question, but do you know the story behind the A in everyone's
• 1:19:42
  you know, every ASD you know, diamond Handler, What's the back
• 1:19:46
  story behind it? I'm I would never could
• 1:19:48
  understood that. Here's OK, here's the real back
• 1:19:52
  story. So Once Upon a time, it was like
• 1:19:55
  2 years ago, three years ago on Fintwit there, this was like
• 1:20:03
  Gurt, Gavin and a few others who were pretty involved in Spax.
• 1:20:09
  I don't know who started it, but they all put like AP the letter,
• 1:20:13
  the blue circle P in their name. And it was like some type of
• 1:20:18
  inside joke. I forget exactly what it's for,
• 1:20:20
  but I saw that and I was like, oh, that's pretty interesting.
• 1:20:22
  Like I wonder it'd be kind of cool if like we used the red A
• 1:20:25
  is is our kind of design. But then I didn't do anything
• 1:20:29
  about it cuz I was like, maybe that would seem too cultish.
• 1:20:31
  But then there was another account, a current space mob STS
• 1:20:36
  moon, who then came up independently with the idea
• 1:20:39
  like, Hey, I'm going to start this.
• 1:20:41
  I'm going to put a red A in my name.
• 1:20:43
  It'd be cool if like everyone else does it too.
• 1:20:45
  And then because he, he started, I was like, OK, now I can adopt
• 1:20:48
  it because it, because then it wouldn't look like I started
• 1:20:51
  this call to somebody else, but I, I'll go along with it because
• 1:20:54
  I think it's really cool. And so I, I put in my name and
• 1:20:57
  that other people put it in their name as well.
• 1:20:59
  And it just kind of took off. Of course, like at periods of
• 1:21:02
  time it was a symbol of being it.
• 1:21:07
  It's been a symbol of, of being too early in something or being
• 1:21:12
  dumb, you know, when the stock was down, it's like you guys are
• 1:21:15
  all chops. But now, of course, like it's a
• 1:21:18
  symbol of pride that we went through this crazy journey over
• 1:21:22
  the years and so far it's been great.
• 1:21:24
  So but yeah, it's I, I guess it's just a, a symbol of
• 1:21:28
  solidarity that this is a, a cool common interest that we all
• 1:21:31
  have. And whenever you see it, yeah,
• 1:21:35
  it's just like, hey, they they're shareholders too.
• 1:21:37
  And so it's just something that you can bond over, I guess.
• 1:21:41
  So that's background. It's a fascinating story.
• 1:21:48
  You're probably like one of the first few people to start like a
• 1:21:51
  cult or start a culture. And in that case.
• 1:21:55
  But yeah, it's it's nice to know.
• 1:21:57
  Thank you so much for sharing that.
• 1:22:00
  Yeah, you're welcome. Thanks for coming up.
• 1:22:03
  Hey, I know Scott was wanted to ask something next and then I
• 1:22:06
  see Hayden on the deck, but I just checked just to check in
• 1:22:08
  with you and then are you still good?
• 1:22:12
  Yeah, I've got an hour to all right to drive still.
• 1:22:15
  But you know what this is? This is great because I, I'm at
• 1:22:18
  this age now where when I drive, I get really sleepy in the first
• 1:22:22
  hour, hour and a half and then I have to get over that hop.
• 1:22:25
  But this is great. Like time's going by fast.
• 1:22:27
  So I, I've, I'm on a four hour drive and I've already 2 1/2
• 1:22:32
  hours after talking with Kook and then now with this space
• 1:22:35
  like it's really come by quickly.
• 1:22:37
  So this is great. Thank you guys for everything.
• 1:22:42
  I was just kind of curious. I've been investing for a few
• 1:22:44
  years now. Technical question, If I'm an
• 1:22:48
  AT&T subscriber and I'm out in the middle of the ocean and
• 1:22:51
  there's no gateways, how does that signal get back to AT&T?
• 1:22:57
  Does it get transferred between satellites and then back down to
• 1:23:00
  Earth? Yeah.
• 1:23:04
  So I don't think, I don't think they've figured out exactly what
• 1:23:08
  they're going to do over over water.
• 1:23:11
  Which cat? See, I see him in the in the
• 1:23:13
  crowd. He might be better to answer
• 1:23:15
  this, but I'm not sure you need some understanding from how
• 1:23:21
  spectrum, what spectrum rights the countries have or companies
• 1:23:26
  have over over water and where, where does like your, you know,
• 1:23:31
  your company's spectrum rights end.
• 1:23:34
  But let's say, let's say theoretically that they are able
• 1:23:37
  to AT&T is able to offer their service, say over the Atlantic.
• 1:23:43
  These satellites have a very, you know, wide field of view.
• 1:23:47
  And so they should, they should be able to, you know, talk to a
• 1:23:52
  ground station. So you, you will be able to
• 1:23:55
  have, you know, you will be able to talk to satellite and then
• 1:23:58
  the satellite will beam down back to the ground station.
• 1:24:01
  But the other alternative, if there isn't a ground station,
• 1:24:05
  say that's within the field of view for the satellite, then you
• 1:24:09
  could you know, a recent thing that the company has been
• 1:24:13
  compilating or testing is is optical inter satellite links.
• 1:24:17
  And so similar to like an Iridium or star link, you could
• 1:24:21
  have a satellite communicating or satellites communicating with
• 1:24:24
  one of the one another. So if one satellite does not
• 1:24:28
  have access to a ground station, then it will relay your call to
• 1:24:32
  another satellite that's over ground station, which then will
• 1:24:36
  connect it to the MNO's network. Awesome.
• 1:24:40
  Thank you. And I was I'll start in there
• 1:24:44
  too, that once the like legato and then other MSS spectrum gets
• 1:24:47
  usage, then it's then it becomes like global spectrum rights and
• 1:24:51
  that becomes a bit easier. And you're not, you know, trying
• 1:24:53
  to piece meal it all the different MN OS from different
• 1:24:56
  countries, right? Well, Legato is specifically for
• 1:25:02
  the US and Canada, but then if they for example, if AST works
• 1:25:07
  out a deal with some of these other spectrum holders that have
• 1:25:10
  global coverage like say Omni space where they have more
• 1:25:14
  regions, then then yeah, yeah. Then then you wouldn't have
• 1:25:18
  issues, you know, connecting calls over water.
• 1:25:21
  But that I mean, that's a very specific use case, whether it's
• 1:25:25
  maritime or if you're flying internationally, which I'm sure
• 1:25:29
  they'll be agreements between MN OS to figure out how to split
• 1:25:34
  that by if they are using EST space mobile.
• 1:25:37
  But I, I think more importantly, you know, if, if you're just off
• 1:25:43
  the coast, maybe it's maybe a few miles out, then you should
• 1:25:46
  be able to have service. If you have ATT or Verizon,
• 1:25:50
  which for most people like if you're boating or fishing, that
• 1:25:55
  will be I think you get future. Awesome.
• 1:26:00
  Hayden, I think you were up next and Tyler's after that.
• 1:26:03
  What's up man? How you doing?
• 1:26:06
  Hey, can you hear me? Yeah, we can hear.
• 1:26:10
  You. Oh, OK, great.
• 1:26:12
  Yeah. I just wanted to give a shout
• 1:26:13
  out to AMPA man and everybody who does a great DD for this,
• 1:26:18
  this company. Just to give you like my back
• 1:26:21
  story, I started researching it, bought it at like 4 in the
• 1:26:26
  summer last year. Then it went to like 7 or 8 and
• 1:26:29
  I flipped it and thinking I was a genius, you know, and, and it
• 1:26:34
  and it kept running. And so then I'm like, what is so
• 1:26:37
  interesting about the stock? I started researching the
• 1:26:39
  company, started finding new guys and everything.
• 1:26:41
  And, and once I figured out the business model, you know, the
• 1:26:45
  wholesaler to the in the nose seemed great.
• 1:26:48
  Then I found out about the DoD, you know, dual use cases that
• 1:26:53
  are out there. Everything just kept getting
• 1:26:55
  better and better and I started telling people at work about it
• 1:27:00
  and now we got probably almost about $1,000,000 collectively
• 1:27:06
  with us like custody all invested in it.
• 1:27:10
  And I've got people calling me today saying hey, is it too
• 1:27:13
  late? Should I put in more anyway, So
• 1:27:17
  I just wanted to say thank you all.
• 1:27:19
  You know, if if it weren't for you guys, I probably would have
• 1:27:23
  been fathered out of my shares a long time ago and because.
• 1:27:29
  Yeah. Anyway, keep on keeping on.
• 1:27:33
  Yeah, that's that's a great story.
• 1:27:36
  Yeah, it's as we say, like you do 5 minutes of of due diligence
• 1:27:41
  and you'll want to short the stock.
• 1:27:42
  If you do an hour, you'll want to order your house, but invest
• 1:27:45
  in it. That's exactly right.
• 1:27:49
  It's yeah, because it's, it's, I think it's a pretty, it's a big
• 1:27:55
  hump initially to get over, but once you do, then it's like you
• 1:27:58
  reach enlightenment. There's all these whether it's
• 1:28:01
  the crucial use case. But then, like, as you mentioned
• 1:28:03
  before, like the, the military defense use case wasn't even a
• 1:28:09
  part of the thesis in 2022-2023, even though the company had been
• 1:28:14
  working on it and smart people like Katsi had caught on very
• 1:28:19
  early. And you know, I, I think cats, I
• 1:28:23
  remember the post Catsy would have these tweet threads of like
• 1:28:27
  dual use case and military, whether it's like a cup GPS or a
• 1:28:31
  radar or any number of of, you know, enhancing communications
• 1:28:36
  for the war fighter tracking assets.
• 1:28:38
  And he used to have a post tweets and then people would
• 1:28:42
  reply like you're crazy or that doesn't make any sense or you're
• 1:28:45
  just speculating. Which then of course Fast
• 1:28:48
  forward today, it's like, hey, it's all there.
• 1:28:50
  It's all happening. Like there's 6 government
• 1:28:53
  contracts with the SDADODDIU and we're going to get something
• 1:28:59
  with Golden Dome. Like everything that Katzie was
• 1:29:02
  uncovering back then that we speculated.
• 1:29:04
  But we, you know, we as like non-technical people, it's like,
• 1:29:08
  OK, this could make some sense, but I'm not sure like if it's
• 1:29:12
  how realistic it is. But then Katzie would be like,
• 1:29:14
  well, actually, that does make sense.
• 1:29:16
  This is why. And also you're missing like
• 1:29:18
  these ten other reasons, these ten other use cases, which is
• 1:29:22
  it's it's great to see. But but yeah, I love your story.
• 1:29:25
  Like there's I think I've heard from a number of people where
• 1:29:29
  other they've done other Co workers or friends and family
• 1:29:32
  invest in the stock. And then, of course, during
• 1:29:35
  different periods of this investment cycle, it's led to
• 1:29:37
  awkward moments like I remember when the stock was, when it was
• 1:29:42
  adjusted, rallying again. Well, especially after, Oh my
• 1:29:46
  God, after Verizon and the stock took off.
• 1:29:48
  I remember I was joking with some of the space mob that, oh,
• 1:29:54
  some of you can actually go back to Thanksgiving and look, look
• 1:29:59
  at your family straight in the face versus other times where
• 1:30:02
  perhaps you were ostracized for getting them into the stock that
• 1:30:06
  then whether they bought it six or seven with, you know,
• 1:30:08
  straight to two. But and then I remember joking
• 1:30:12
  like in a tweet when Verizon went up, it's like some
• 1:30:15
  marriages were saved, were saved from this.
• 1:30:18
  And then, or alternatively, some marriages were ended because I
• 1:30:22
  guess maybe perhaps like people who were invested decided to
• 1:30:25
  leave their their, their significant other because now
• 1:30:28
  they could move on. But anyway, that was a joke,
• 1:30:31
  kind of a dark joke. But but yeah, thanks for coming
• 1:30:34
  up and sharing. I that's, that's really cool
• 1:30:36
  that you bought it for I think a lot of people.
• 1:30:39
  That's, that's pretty amazing that you flipped it, but then
• 1:30:41
  you got back in. So.
• 1:30:44
  Yeah, yeah. And just to touch back on
• 1:30:47
  something y'all touched on earlier, Yeah, You know, I
• 1:30:52
  flipped my shares back and forth and doing the math over and over
• 1:30:57
  again. You know, I'm kicking myself.
• 1:30:59
  You know, I'm still happy that I'm in it where I'm at.
• 1:31:02
  But, you know, trying to trade it was a terrible mistake.
• 1:31:07
  Buying and holding it seems to be the best strategy at this
• 1:31:11
  point. And, you know, don't make the
• 1:31:13
  same mistakes I made. Yeah, it's less stressful.
• 1:31:18
  Just like buy it and then don't look at it and you can go go
• 1:31:22
  about your day. It's funny because like I think
• 1:31:27
  Cook was telling me like the best days are when he goes
• 1:31:29
  surfing or he has no access to a phone.
• 1:31:31
  So he doesn't have to really think about it.
• 1:31:34
  Or, or I guess the other thing you can do is just put in in a
• 1:31:36
  separate account, just open a brokerage account specifically
• 1:31:40
  for what you own and just put it there.
• 1:31:42
  And then don't have an online app.
• 1:31:44
  So that might be a better approach.
• 1:31:51
  Yep, I might have to do that anyway.
• 1:31:55
  Yeah, thanks a lot. It's been an interesting ride.
• 1:31:57
  And pretty much all those, all those things happened to me at
• 1:32:03
  one point. I was afraid to look at my wife
• 1:32:05
  in the eyes. And then another point I'm, you
• 1:32:08
  know, running through and like, guess what happened today?
• 1:32:11
  But yeah. I think we can all, I think we
• 1:32:14
  all empathize. Yeah, yeah, we've all been
• 1:32:17
  through, yeah, you know, 17 and and $2.00.
• 1:32:21
  I didn't have to experience that drawdown, but you know, buying
• 1:32:26
  back in at 25 and watching it go to 17 was it wasn't too great.
• 1:32:33
  Yeah, yeah. But, but I think like it's, it's
• 1:32:36
  those periods where if you've done the due diligence, you know
• 1:32:39
  what you own, like we say, the volatility is just all noise,
• 1:32:43
  like it's just chopped right. And I think just focusing on the
• 1:32:48
  long term, like I, I, I, I, I guess I'll share this example.
• 1:32:52
  Like when, so I had a peak in terms of warrants, I think I had
• 1:32:56
  950,000 warrants. And so when September rolled
• 1:33:00
  around last year, obviously they, they were, there was a
• 1:33:03
  warrant redemption. So I had to exercise, make a
• 1:33:07
  decision to sell some and exercise some.
• 1:33:09
  And so, you know, I, I sold enough warrants where I could
• 1:33:14
  exercise like pretty close to maximum amount, putting it, but
• 1:33:18
  then putting aside some, some money, of course, for, for
• 1:33:21
  taxes, but then having exercise a warrant just like not call
• 1:33:25
  option you, it resets your clock.
• 1:33:27
  And so you basically have to hold the stock for at least a
• 1:33:31
  year for capital gains from that time of exercise a warrant.
• 1:33:34
  And so, you know, these warrants on average, I think my cost
• 1:33:37
  basis was, you know, around the dollar.
• 1:33:40
  And they're, I think at the peak they traded at the peak, I think
• 1:33:45
  they traded for like $28.00 or something.
• 1:33:47
  It was pretty nuts, but I, I did sell some and then I was able to
• 1:33:52
  exercise into the position that, you know, stock position that I
• 1:33:55
  hold today. But the good thing about being
• 1:33:59
  able to exercise the warrants is that it maybe take some amount
• 1:34:02
  of money off the table to set aside for taxes.
• 1:34:05
  And then I actually took a little more money off just to
• 1:34:07
  say that I did because I think from a mental standpoint it was
• 1:34:11
  just good to do that. It's so, you know, I still have
• 1:34:15
  a, a really large position, but then when we had the drawdown
• 1:34:18
  from the 30s all the way to I guess it was like 17 or 18, it
• 1:34:23
  didn't really impact me because I was not long warrants anymore.
• 1:34:26
  So there was no clock, running clock.
• 1:34:29
  And then I was just long comments.
• 1:34:30
  And so I was able to just ride that volatility all the way down
• 1:34:34
  and it didn't really faze me because I knew what I held and I
• 1:34:38
  was confident that, you know, clearly we had a we had a big
• 1:34:42
  run up to 39. And then it was a pullback,
• 1:34:44
  which is pretty natural. Like those things happen.
• 1:34:47
  And I was able to buy back with some of the money I'd set aside.
• 1:34:50
  I was able to buy back some shares probably cheap, which is,
• 1:34:53
  you know, when I tweet like the little, the little character
• 1:34:57
  dancing, like I bought the dip, like, yeah, that's what I did.
• 1:35:00
  And it was good. Like I was able to increase my
• 1:35:04
  the, you know, my position. And as some of you guys know,
• 1:35:07
  like I also have shares and in a tax advantage account, so I do
• 1:35:12
  trade, trade those around from time to time.
• 1:35:15
  But I, I, I think just having a core position that you just
• 1:35:18
  don't touch, you know, it's good.
• 1:35:21
  And, and having like, if you're fully invested in, in this
• 1:35:25
  company in particular, like, I definitely recommend selling
• 1:35:28
  some, especially like at these levels, like selling some free
• 1:35:32
  selling, taking some profit and setting, setting aside money for
• 1:35:35
  taxes and just putting capital aside.
• 1:35:37
  Because it, there's kind of this like therapeutic effect where
• 1:35:42
  you've accomplished something like I've taken profits, I've
• 1:35:45
  made some money. Maybe if you can like take your
• 1:35:49
  cost basis out, like do something because it gives you
• 1:35:52
  Peace of Mind that you did something.
• 1:35:53
  And so when there is a pullback, you can look back and say, Oh,
• 1:35:56
  well, you know, I actually took profits at 54 or 53 AM and I
• 1:36:01
  have money set aside. And if I want to, I can buy some
• 1:36:04
  of their shares back lower or if the stock runs to it's like
• 1:36:12
  sushi takes a mind up. And when you do that, it
• 1:36:16
  actually provides this this like one with clarity view where you
• 1:36:23
  don't really care about policy because you some profits,
• 1:36:26
  whether it's, I don't know, 1020 or you down your position,
• 1:36:29
  whatever, whatever percentage you want to pick, but you've
• 1:36:32
  accomplished something and that's kind of done and move on.
• 1:36:37
  And me, when you have lots in stock, like I just I can knock
• 1:36:43
  it off because it's like, oh, why free become about profits
• 1:36:47
  and capitals decide like like do whatever.
• 1:36:54
  I think for people who are are invested by the way, like I have
• 1:36:57
  a tremendous amount of to the company.
• 1:37:00
  It's now largest piece of my net worth.
• 1:37:05
  Like at the same time, like I think for anybody who is I, we
• 1:37:12
  joke about this like an ASDS maxi.
• 1:37:15
  I, I do think it is healthy to take some level of profits and,
• 1:37:19
  and have that ability to mentally kind of ride the
• 1:37:23
  volatility and not worry about it.
• 1:37:25
  But when you're like fully invested and you haven't really
• 1:37:27
  done anything, it's really painful.
• 1:37:30
  And I think everybody has experienced this like when you
• 1:37:32
  when the stock is at all time high and you're like euphoric
• 1:37:34
  and maybe you do that thing where you buy more, but then it
• 1:37:38
  like draws down and you're kicking yourself for not only
• 1:37:43
  maybe buying a little more, but then having not sold anything
• 1:37:45
  like basically done anything that kind of eats away at you
• 1:37:48
  mentally. And so I think it's important
• 1:37:51
  for people to have discipline, set some goals and, you know,
• 1:37:56
  taking profits like never hurts. And yeah, you might miss out on
• 1:38:01
  even higher stock prices and but that's OK.
• 1:38:03
  It's like that's just part of investing it and I think not
• 1:38:08
  always maximizing things. And, you know, and this is where
• 1:38:11
  like people get in trouble where they, they want to be fully
• 1:38:14
  invested and fully exposed. And then they go beyond, they
• 1:38:17
  like enter into margin and they, they buy stock on leverage,
• 1:38:21
  which I recommend I have net against during that, especially
• 1:38:27
  with a high volatility stock like AST, because you can when,
• 1:38:31
  when you're invested in something that's high level
• 1:38:33
  volatility, you will have periods of drawdown.
• 1:38:36
  And those are the times when you don't want to have margin.
• 1:38:40
  You, you know, you basically have tapped out and you have a
• 1:38:42
  margin call. Like the only times when you
• 1:38:44
  might utilize margin is like, if you think the odds are really in
• 1:38:47
  your favor. And let's say like there's a big
• 1:38:49
  pullback and it's for reasons that don't make any sense.
• 1:38:53
  And maybe there's like all these great things that are coming up
• 1:38:56
  and you're like, I'm going to, you know what, I'm going to
• 1:38:59
  dabble in margin. I'm going to have a slightly
• 1:39:02
  outside position for the next. And you define it like next four
• 1:39:05
  or five days. And this, these are the levels.
• 1:39:07
  Like if the stock drops another 10%, then I'll just completely
• 1:39:10
  close out and call it a day. Or if the things happen and all
• 1:39:14
  goes well, then I will sell, you know, I make some profits.
• 1:39:18
  I will sell enough to get back off of margin.
• 1:39:22
  So anyway, kind of went off on a tangent there, but hopefully
• 1:39:27
  that's. You got you got some hate now if
• 1:39:29
  you're even suggesting the sell word now I'm just that's a
• 1:39:33
  healthy, healthy, yeah, rounded investor mindset.
• 1:39:37
  Voice of reason, the voice of reason, I think.
• 1:39:41
  I mean, look, even the company, like I know there was some,
• 1:39:45
  there's some zealots out there. Like if the company, if anyone
• 1:39:49
  in the company sells like one share, then then yeah, they,
• 1:39:53
  they get, they whine about it. It's like, come on.
• 1:39:55
  Like I'll take Scott Wisniewski as an example.
• 1:39:58
  The guy was a former banker. He probably made four, five,
• 1:40:02
  $600,000 in salary while he was in banking.
• 1:40:05
  And then he probably had a. He probably had.
• 1:40:12
  I would say in terms of a bonus, you know, 1,2,000,000, maybe 4
• 1:40:16
  training. But then he decided to leave
• 1:40:18
  his, his Christie job, although I'll be at like, you know,
• 1:40:22
  required a lot of work job at Barclays to join this startup
• 1:40:26
  company. And you know, he's got a small
• 1:40:29
  family. I believe he has a few very
• 1:40:30
  young children and you know, he has a family that lives not in
• 1:40:36
  Miami, but somewhere up north. And so he's sacrificing a lot of
• 1:40:39
  time of his personal time to, you know, strike these strategic
• 1:40:44
  deals, get these financings happening to happen.
• 1:40:47
  And he's only making 250,000 in salary, which to you know, that
• 1:40:51
  that is a lot of money, but for a, a young family where you're
• 1:40:55
  commuting and you know, you've got a mom who I'm, I'm suing his
• 1:40:59
  wife is probably taking with kids and upped her eyeballs and
• 1:41:02
  trying to manage everything. It's like, come on, the guy
• 1:41:05
  deserves to sell some shares to live a little more comfortably,
• 1:41:09
  whether that's like getting some help with the children or, you
• 1:41:14
  know, buying something nice for his wife or whatever it is.
• 1:41:17
  Like people have all kinds of reasons as to why they from
• 1:41:21
  their own personal financial situation, you know, they need
• 1:41:25
  to sell shares, maybe get some type of financial cushion, which
• 1:41:29
  I I'd add like now he sold, I think it was like less than 5%
• 1:41:33
  of his his holdings. And the other thing is like, you
• 1:41:36
  know, these executives outside of a bell, because the bell
• 1:41:38
  doesn't take salary nor does he get additional stock grants.
• 1:41:42
  But these executives they do get re upped some some level amount
• 1:41:45
  of shares every year. And I, I did tweet about this
• 1:41:48
  before, like our key executives have company, they actually
• 1:41:52
  don't make that much salary. Like all of their all the, the
• 1:41:57
  their, the bread is getting buttered is their stock
• 1:41:59
  compensation because like their salaries of 250,000 like that's
• 1:42:03
  pretty much peanuts for these level executives.
• 1:42:06
  Like if you look at, I remember I was looking at like intuitive
• 1:42:09
  machines. I think the CEOCFO, those
• 1:42:13
  executives get paid like 7 or 800,000 of salary and then they
• 1:42:18
  get stock grants on top of that. Whereas at AST like they're
• 1:42:21
  really managing the cash burn because obviously do I take more
• 1:42:25
  salary or do I build another satellite?
• 1:42:28
  So that's kind of like how they're thinking about the
• 1:42:30
  business. So I, I think, I think just
• 1:42:33
  taking a clue from the executives too, like if you,
• 1:42:37
  unless you have a mental fortitude and you're financially
• 1:42:41
  OK to not take profits, I think it's OK to like, you know, you
• 1:42:46
  can have conviction in the stock, but you have a, you have
• 1:42:50
  a lot of profit. It's perhaps like maybe your
• 1:42:52
  long term gains, it's OK to, it can be good mentally to take
• 1:42:57
  some level of profits because then it gives you a bit more
• 1:43:02
  clarity in terms of thought and how you're thinking about a
• 1:43:04
  situation. Whereas I've seen people,
• 1:43:07
  especially whether you're, if you're daily in short term
• 1:43:09
  options and you're on margin, then you know, people can go to
• 1:43:14
  pretty dark places like if a, if a stock isn't working for you
• 1:43:17
  or, or if it's going to get you. So anyway, I'll I'll stop there.
• 1:43:24
  I see Tyler was I think was Next up, but man, how you doing?
• 1:43:28
  Hey, everyone, how's it going? Yeah, So first of all, I just
• 1:43:34
  want to say and then we, you know, I think everybody in the
• 1:43:37
  space mob, you know, absolutely loves you and appreciates
• 1:43:40
  everything that you're doing. And that goes to cat see as
• 1:43:43
  well. And so many other people that
• 1:43:46
  actually, you know, in a lot of ways, you know, change my life.
• 1:43:50
  I think, I think in a kind of a cool, cool thing is back in
• 1:43:54
  2021, this is before obviously Blue Walker 3 was, you know,
• 1:43:59
  launched. I kind of learned about, I told
• 1:44:02
  my wife, I said. Gorgeous, I need to go.
• 1:44:05
  Find a 100X stock, but that's what I need to go do I need to
• 1:44:09
  go find a stock that I'm that's just going to 100 X.
• 1:44:12
  And so I started looking around on Twitter and, and on on
• 1:44:16
  StockTwits and the next thing you know, I'm like seeing this,
• 1:44:20
  you know, stuff about Asts. And I'm like, I'm going to check
• 1:44:24
  this one out. And one thing that was
• 1:44:27
  interesting, I got to just say the thing that like always
• 1:44:31
  impressed me about AST was the way that a Bell decided to send
• 1:44:37
  a mobile device, decided to launch a mobile device and keep
• 1:44:43
  the satellite on the ground and do all the tweaks on the ground
• 1:44:47
  while the mobile device was basically orbiting the Earth.
• 1:44:50
  And I just thought, man, that is so fucking genius.
• 1:44:54
  Like that is that is amazing. And so and I will say Katzie was
• 1:44:59
  a big, big reason why he would go in there and fin twits and he
• 1:45:03
  would always answer these questions for us.
• 1:45:05
  And, you know, we're all, you know, kind of noobs and all that
• 1:45:08
  kind of stuff. We're sitting here just trying
• 1:45:09
  to learn a little bit about, you know, engineering.
• 1:45:12
  Have no idea what the hell we're talking about.
• 1:45:15
  But one thing that I just thought, you know, just truly
• 1:45:17
  appreciated was. How?
• 1:45:21
  How much Katzie understood about the engineering, about the
• 1:45:26
  actual tech, about the science of it all.
• 1:45:28
  And it gave me the confidence to say, you know what, this is
• 1:45:32
  actually a company that is that that's going to do it like this
• 1:45:35
  is. And if if y'all remember Mark,
• 1:45:37
  there's a guy named Marshall. I'll never forget this video
• 1:45:41
  that was out guy named Marshall who is I think it was a
• 1:45:44
  consultant for Dave. Marshak.
• 1:45:47
  Yeah. Dave, Dave Parshak, our, our,
• 1:45:50
  our, our PF. Consultant yeah, yes, that date.
• 1:45:53
  Oh my gosh, that video. I probably watched that video 20
• 1:45:57
  times, man. It was just one of those videos
• 1:45:59
  that I felt really, you know, discussed the magic of AST.
• 1:46:04
  And so, you know, naturally I started telling everybody about
• 1:46:07
  it. I got in around 7:00.
• 1:46:09
  I watched it go to 14. Then I watched it drop down, you
• 1:46:12
  know, back to seven. And I thought, oh, I have
• 1:46:14
  another opportunity. And then sure enough, you know,
• 1:46:17
  we all experienced the, you know, the, the drop into what,
• 1:46:21
  you know, I remember go hitting 197.
• 1:46:23
  I thought to myself, fuck, man, is this going to go bankrupt
• 1:46:27
  like this legitimately is, you know, going into the floor.
• 1:46:31
  But thankfully, thankfully, my wife was, you know, always
• 1:46:36
  encouraging. And I end up actually picking up
• 1:46:39
  more shares at, you know, 3-3 dollars and I picked up some
• 1:46:42
  more at $6. I don't have anything like, you
• 1:46:46
  know, cat sees, you know, 77,000 shares or whatever or your, you
• 1:46:50
  know, whatever it is couple 100,000 or whatever it is
• 1:46:53
  shares. But I will say, oh, another
• 1:46:56
  interesting fact. I found out that I was going to
• 1:46:58
  be a father on a day that Blue Walker 3 was launching.
• 1:47:02
  So that was a momentous day for me in a lot of ways.
• 1:47:06
  Oh wow, that's so cool. Yeah, yeah.
• 1:47:10
  So I love it. I was.
• 1:47:12
  Did you? Did you from?
• 1:47:13
  Did you have a boy? Did you have a boy or girl?
• 1:47:21
  Oh, did I drop out? No, I can hear you.
• 1:47:25
  Tyler seemed to have dropped out.
• 1:47:29
  Oh, I asked him if he if he had a boy or girl and then my next
• 1:47:32
  question was did you name the blue locker 3?
• 1:47:36
  Oh, that would have been funny. I think he's request now.
• 1:47:39
  It's something else's request again.
• 1:47:41
  Yeah, I would have been. Yeah, I don't know, maybe if he
• 1:47:44
  if he gets gets back on he can answer it.
• 1:47:46
  But sorry, Tyler, it does jump in and jump or like I jump off
• 1:47:51
  the stage and then come back in and I'll I'll let you back on.
• 1:47:53
  You can hear me. Sorry.
• 1:47:58
  What were we going to say? Anthem in.
• 1:48:02
  Oh, yeah, no, I, I, I agree with what he said.
• 1:48:04
  Like I think Kathy talked about this too.
• 1:48:07
  Like it was a genius that the company with the cell phone out
• 1:48:11
  space to develop, you know, develop the technology and then
• 1:48:17
  they kept the satellite on the ground.
• 1:48:20
  So that was a really smart way to iterate and, you know,
• 1:48:23
  develop develop the technology in a very cost effective manner.
• 1:48:27
  And so just by that alone, it just gave you insight into the
• 1:48:32
  usually the engineering genius of of of a Bell and and.
• 1:48:41
  Hey, man, hold on a minute. There's a few people in front of
• 1:48:44
  you. So if you just want to stay on
• 1:48:45
  mute for a little bit and we'll get to you when we get when that
• 1:48:48
  couple other people ask questions, I think fling, fling
• 1:48:56
  or sorry, you were still going. Yeah, I agree.
• 1:48:57
  The the the when I heard about the cell phone in space and the
• 1:49:00
  and the satellite on the ground thing, I was like, that is so
• 1:49:03
  smart. I mean, it's, I don't know.
• 1:49:06
  It was it was one of those cool stories like like when you're
• 1:49:08
  first reading about the company and you hear about stuff like
• 1:49:10
  that, it's like, wow, that's genius.
• 1:49:13
  But yeah, I agree. Yeah, I I will add one more
• 1:49:18
  thing. So that Dave Barshak video just
• 1:49:21
  just for like background, So funny enough like that there was
• 1:49:27
  a when the company were it went public BS pack, they had a a
• 1:49:32
  call with research analysts. This is like for sell side
• 1:49:36
  analysts who were contemplating who were either part of the
• 1:49:39
  deal, the banks were part of the deal or who were contemplating
• 1:49:43
  initiating coverage. And so that was basically like
• 1:49:46
  AT gym and that video they also shared I think with some of the
• 1:49:52
  investors at the pipe. And so I forgot who I got it
• 1:49:57
  through, but I remember through various connections, I was able
• 1:50:02
  to get the entire video. And so then that specific part
• 1:50:06
  with Dave Marshak, who some of you guys know works at a, he is
• 1:50:10
  actually one of the few respected consultants in the
• 1:50:13
  satellite industry, won't name the other one, but he used to be
• 1:50:18
  an engineer at Terra Star. And so that that specific
• 1:50:23
  segment, I thought, oh, you know, like for people out for
• 1:50:26
  retail investors, I think this will be very helpful to actually
• 1:50:28
  hear. It seems network is not too good
• 1:50:31
  that way it. Seems his network is not too
• 1:50:33
  good anyway. So I think like, I think having,
• 1:50:41
  having that video out there was really helpful for people.
• 1:50:43
  So I, I cut that video out of the entire video and I put it on
• 1:50:47
  YouTube and then, you know, shared it with everyone.
• 1:50:49
  So that that's the background of that.
• 1:50:51
  You can still see it today for those people who are interested.
• 1:50:55
  Yeah, I need to find that video. I have not this one I haven't
• 1:50:57
  seen. So somebody like knows or has a
• 1:50:59
  link to that in frozen comments, that'd be cool.
• 1:51:03
  And then? Fling I.
• 1:51:06
  Can't read your full name, but Fling, you were up next I think,
• 1:51:08
  and then Mitch was after you. Yeah, it's a play.
• 1:51:11
  On a on a name in Lord of the Rings like Tim Golson, he's some
• 1:51:14
  high King elf thing. It's really nerdy.
• 1:51:16
  But anyway, yeah, appreciate everything everyone here does.
• 1:51:21
  I guess my story is kind of interesting or not, but I, I
• 1:51:26
  played a lot of World of Warcraft back in the day and I
• 1:51:29
  had a buddy who was messaging me about this ASTS doc in March of
• 1:51:33
  2022 and said, oh, there's some SpaceX agreement or something.
• 1:51:38
  I'm buying some calls on this company.
• 1:51:40
  And I was like, who the hell is ASTS?
• 1:51:42
  What's going on? And I started looking into the
• 1:51:45
  into the company. I, I bought my first thousand
• 1:51:48
  shares I think at like 12 or $13 and then just immediately
• 1:51:51
  watched it go down since from that time kept averaging down
• 1:51:58
  for a while until it got to like 4.
• 1:52:01
  I think was my last buy. And I was like, God, I'm down
• 1:52:04
  like 80 or 90% on this. My wife's going to kill me if
• 1:52:07
  she finds out and I'm going to go buy some other stuff.
• 1:52:11
  But I held it and mainly because of you and other people like
• 1:52:15
  Kook and Katzie. Anyway, when we started the run
• 1:52:19
  up last summer I kept buying and and got to.
• 1:52:23
  About. 30,000 share position that I've held the whole way.
• 1:52:27
  So I'm at I don't know what like 1.5 million now, which is, you
• 1:52:31
  know, some pretty life changing money, you know.
• 1:52:34
  So I just wanted to say thanks so much man.
• 1:52:36
  Really appreciate everything you do.
• 1:52:40
  Yeah, thanks for coming up. That's so funny.
• 1:52:43
  Like you you found out about the stock on a World of Warcraft?
• 1:52:46
  Yeah, pretty funny. Unfortunately my buddy didn't
• 1:52:50
  stay in the stock so now I now I message him about and he's like
• 1:52:52
  son of a bitch, you know? But yeah, yeah, random whisper
• 1:52:57
  on a video game made me a multi millionaire.
• 1:52:59
  Pretty cool. Yeah well, like we say, if you
• 1:53:03
  like the stock at 12, you're going to love it at 4:00.
• 1:53:06
  So that's good you stuck with it.
• 1:53:09
  There's some pretty there's some pretty bad stories out there
• 1:53:12
  too. And This is why, for example, I,
• 1:53:14
  I saw tut on here a little while ago, but that's why I like he
• 1:53:19
  and I like, I try to stay by the fray and I, I try not to engage
• 1:53:23
  with consultant who shall not be named.
• 1:53:27
  But every now and then I, I, I kind of get fed up and then I'll
• 1:53:31
  just like unleash on the guy. But the reason why Tut and I,
• 1:53:36
  we'll do that and Kook and Katzie and I guess quite
• 1:53:39
  frankly, the entire community is that there are for every story
• 1:53:43
  where people are like they have conviction, they held on.
• 1:53:46
  And perhaps they added, there's there's quite a few stories
• 1:53:48
  where people actually sold at the bottom, which is quite
• 1:53:50
  painful. And you know, there's, there's
• 1:53:54
  like one particular person I read it, for example, who I
• 1:53:58
  think he's probably in his mid or late 20s, but he actually had
• 1:54:04
  conviction and had been investing and kept averaging
• 1:54:08
  into his position. And then I think the FUD just
• 1:54:12
  got to him. And this is like back I I think
• 1:54:14
  literally he sold near the bottom, not at the bottom, but
• 1:54:17
  like at 2 low twos and locked in.
• 1:54:21
  I do a few $100,000 of loss, which is, you know, he was down
• 1:54:25
  like 9095% or something and he had leaps too.
• 1:54:29
  But then I think he, you know, he kind of became famous on the
• 1:54:33
  Reddit because because when the stock started coming back, you
• 1:54:38
  know, you clearly, you know, it was upset and kicking himself.
• 1:54:41
  Then I think he just posted recently, maybe it was like a
• 1:54:44
  little last week where he was like, had I just held on to my
• 1:54:48
  position, just the calls alone would have been I think we're at
• 1:54:52
  the three and a half, $1,000,000.
• 1:54:53
  But then fortunately, I believe there is still a there, there
• 1:54:58
  there is a positive end to the story because I think he did buy
• 1:55:02
  back end and he's now doing well.
• 1:55:06
  I, I at least I believe he covered his previous loss.
• 1:55:09
  If now it's up. But but yeah, it's, I mean, back
• 1:55:13
  then it wasn't easy. And there, there were quite a
• 1:55:17
  few people who were really, you know, had high level conviction
• 1:55:22
  and wrote it all the way down and were buying and then they
• 1:55:24
  just kind of had this breaking point.
• 1:55:26
  And this was like, I think for a lot of people when the company
• 1:55:29
  announced a deal with Google, the, the strategic investment
• 1:55:33
  for Vodafone, ATT Google, but then they had to raise 100
• 1:55:38
  million of equity to basically get that deal done.
• 1:55:43
  That was kind of the last straw for for some folks because
• 1:55:45
  they're like, how can you guys raise equity?
• 1:55:49
  You just got this strategic investment and then you're doing
• 1:55:51
  this equity raise, which you know, it was a marketed deal,
• 1:55:55
  which, which you know, given the company, you know, the interest
• 1:55:59
  level from institutions, which back then wasn't much
• 1:56:01
  institutional investors. So they had to price that deal
• 1:56:04
  down. I think it was like 20, almost
• 1:56:06
  30 percent, 30% discount, which is really bad.
• 1:56:10
  And This is why we, we talk about like how the company has
• 1:56:14
  now. Now they don't really do
• 1:56:16
  marketed offerings. They just like use ATM for back
• 1:56:18
  time. But like, that was a breaking
• 1:56:23
  point for a lot of people, which now we know the company had to
• 1:56:27
  do that tie over what eventually, you know, get the
• 1:56:31
  company through what would eventually be Verizon coming on
• 1:56:34
  board just a few months later, which is, of course, completely,
• 1:56:40
  you know, changed the story in terms of validating what the
• 1:56:43
  company was doing, but also bringing in more attention on
• 1:56:47
  the on the corporate and government side.
• 1:56:50
  But yeah, that was unfortunately just a painful necessary capital
• 1:56:53
  raise that that had happened, which I think as we all learned
• 1:56:58
  with any, you know, growth company that's doing something
• 1:57:00
  that's never been done for raising capital, especially if
• 1:57:04
  you're a public, you know, you trade in the public markets
• 1:57:07
  versus like, you know, some of these private companies that
• 1:57:10
  don't have to report financials or progress or any of that
• 1:57:12
  stuff. It's a very different beast,
• 1:57:14
  right. And so, yeah, I'm, I'm glad to
• 1:57:18
  hear that you you held through and you got you've got this life
• 1:57:20
  changing position, which is great.
• 1:57:23
  But Congrats. Thanks for coming.
• 1:57:25
  And Cher, thanks man, Appreciate it.
• 1:57:27
  Take care. So we got Mitch.
• 1:57:31
  Mitch up next. You've been waiting for a minute
• 1:57:33
  man, I appreciate. It thank you and hey man, I just
• 1:57:39
  want to say every time I wake up in the morning and you're at the
• 1:57:42
  top of my X speed and you have an all cap something mega
• 1:57:45
  bullish or at least feeling like it makes my damn day.
• 1:57:49
  Thank you very much. It's been a really fun last
• 1:57:52
  couple. Well, almost here come out, but
• 1:57:57
  yeah, I'll just because people have been doing it, I'll share a
• 1:57:59
  little bit. So I found out about ASTS by
• 1:58:02
  accident. I used to go onto a bunch of
• 1:58:05
  Reddit threads like value investing, You know, of course I
• 1:58:09
  would just see who's making a funny post on Wall Street, Wall
• 1:58:13
  Street Bets. And then there's some other one
• 1:58:17
  I would look for. I think it was like penny stocks
• 1:58:18
  or something. And someone, I bet you it was
• 1:58:23
  Kevin, the defiant client, Kevin made a post saying that pretty
• 1:58:28
  much summarized Verizon's on board or no AT&T's on board
• 1:58:32
  something D as coming in. They're basically going to get
• 1:58:36
  money by now. And I did like the 5 minutes of
• 1:58:42
  DD and back then, you know, I know you say 5 minutes DD you'll
• 1:58:44
  if you won't buy it, you'll short it.
• 1:58:46
  I was like, oh, no, this makes sense.
• 1:58:48
  So I I put like. You're you're a smart guy, so so
• 1:58:52
  you don't 8 to 60. Minutes.
• 1:58:55
  Well, you know, smart enough to have bought it.
• 1:58:56
  And The thing is I, I kind of got scared because that same
• 1:59:01
  year I had gotten messed up upside down on a biotech that I
• 1:59:05
  had been misled about which I won't go into, but basically.
• 1:59:08
  So I originally put in 50 grand upfront on I think it was around
• 1:59:12
  $5 a share and I got nervous and I sold half of it the next day
• 1:59:18
  before I'd even really moved, I think.
• 1:59:20
  And or at least like right before the market had opened.
• 1:59:23
  And next thing I know that position obviously goes crazy.
• 1:59:27
  It you know it, it goes up to the 30 eights.
• 1:59:30
  And at that point I have like a financial advisor on my right
• 1:59:32
  saying, Hey, you got to sell. It's pre Rev. This isn't hell.
• 1:59:36
  You can't trust it against Starlink, all that stuff.
• 1:59:38
  And I've got a buddy over here that works at a wealth
• 1:59:40
  management firm saying the same thing.
• 1:59:42
  Like, look, man, no one ever went broke locking in profits.
• 1:59:45
  And I'm like, OK, well, I don't I guess know enough.
• 1:59:48
  It's only been a month. So I did so and ever since then
• 1:59:53
  I've just I mean, I bought back in eventually later, but ever
• 1:59:57
  since then I've just been frustrated knowing that I sold
• 1:59:59
  half right before the run up and then I sold at all.
• 2:00:02
  Because now that I've been reading every day for hours,
• 2:00:06
  yours cat sees to find client Kook's fun little weekly report
• 2:00:14
  that summarizes all the things that have happened.
• 2:00:16
  I kick myself everyday thinking, man, you are such a bitch for
• 2:00:21
  having listened to anyone but yourself when you bought it in
• 2:00:24
  the first place, right? So, but that's kind of been the
• 2:00:28
  lesson. It's made me realize that I've
• 2:00:30
  got to start being more trusting of my conviction and not think
• 2:00:35
  that other people you know, that are throwing foot around
• 2:00:38
  necessarily know anything. They might have agendas, they
• 2:00:40
  might, they might just not know. They might just be biased and
• 2:00:43
  have a, you know, a negative lens just because they do.
• 2:00:46
  And that's not to name names, but you know, we all know what
• 2:00:48
  we're talking about here. So so I guess where I'm going
• 2:00:52
  with that is thank you. Now here's my question for you.
• 2:00:57
  And it's not really one that I think anyone can perfectly
• 2:00:59
  answer. I don't expect it, but I do have
• 2:01:01
  a question regarding. So Palantir had a pretty crazy
• 2:01:06
  RE rate and it's still technically going up.
• 2:01:08
  And if I remember correctly from all the different posts I've
• 2:01:11
  seen on X and etcetera, it really didn't have a noticeable
• 2:01:16
  revenue jump that made any of its market capitalization make
• 2:01:20
  sense. So in my opinion, I, I can't
• 2:01:24
  help but feel that if a defense company, if ASTS becomes branded
• 2:01:31
  in the short term before it can give commercial service as a
• 2:01:34
  defense layer for our government, then I can't help
• 2:01:40
  but feel that this is just potentially another.
• 2:01:43
  I'm not going to say it goes to 300 billion, but I can't help
• 2:01:46
  but feel it doesn't really have a reason to drop without major,
• 2:01:49
  you know, mess up some space. Space is hard.
• 2:01:51
  I get that. So that has been something that
• 2:01:55
  for me, I wanted to make sure I'm not crazy here.
• 2:01:57
  I mean, did even the big behemoth Palantir need major
• 2:02:02
  revenue and contracts being signed every week to jump as
• 2:02:06
  much as it did? I mean, do you, do you know?
• 2:02:11
  I don't know Palantir closely, so I I can't say but but in
• 2:02:17
  regards to AST, like, I think I think now people are beginning
• 2:02:23
  to understand the dual use case and that the what was already
• 2:02:27
  like a massive Tam on the commercial side.
• 2:02:31
  You know, if you look at the defense side, that could be a
• 2:02:35
  Tam almost as big. And, and so I think I think, you
• 2:02:42
  know, the, the contracts that we have so far, we only have a $20
• 2:02:45
  million contract and a $43 million contract.
• 2:02:48
  But you know, if you talk to the company, they'll tell you like
• 2:02:51
  these are kind of the initial proof of concept on sages where
• 2:02:56
  you, you, you know, they, the government agencies will see
• 2:03:01
  what the capabilities are, how does it fit?
• 2:03:03
  And then those contracts can then start growing into hundreds
• 2:03:08
  of millions of dollars in, in terms of financial revenue.
• 2:03:11
  And that that's outside of, you know, what we all speculated is,
• 2:03:14
  is Golden Dome. Those types of.
• 2:03:17
  Applications, but I think that's where you know, the street is
• 2:03:20
  primarily pricing in the commercial opportunity, which is
• 2:03:25
  a bit more straightforward, although Schwartz will tell you
• 2:03:28
  it's not straightforward because Schwartz will say, you know, how
• 2:03:31
  many people are going to actually adopt this service and
• 2:03:35
  how much are they actually going to pay?
• 2:03:36
  Like paying the same price as two cups of coffee is like too
• 2:03:40
  much. Like you'll, you'll get into
• 2:03:42
  these or you'll, you'll hear these arguments which make zero
• 2:03:45
  sense. But I think, I think the, on the
• 2:03:49
  government side, like it's kind of the known unknown.
• 2:03:53
  Like, yeah, we, we know that the technology would be really great
• 2:03:57
  for these various use cases, but it's unclear how much the
• 2:04:02
  government is going to pay for them.
• 2:04:03
  And then outside of that, it's like it's not just the US
• 2:04:06
  government. We, we just saw like Singapore,
• 2:04:09
  which is a small country but has a big budget.
• 2:04:12
  You know, they're, they're evaluating HTC mobile for
• 2:04:15
  defense use cases and, and I think the establishment of Satco
• 2:04:19
  JV with Vodafone in Europe, I think you're probably start to
• 2:04:23
  see some European defense interests as well, because I
• 2:04:26
  mean, we already know that AST is like doing some stuff with
• 2:04:30
  DEO. So it would be a natural
• 2:04:34
  extension for them to evaluate it for European defense
• 2:04:37
  applications. But but yeah, you don't.
• 2:04:41
  And that's that's the fun thing about investing.
• 2:04:42
  I mean, you don't need to see like the, the arguments that a
• 2:04:47
  bear will make is that this company is pre revenue, which by
• 2:04:50
  the way, it won't be in the next 6 months, but they'll, they'll
• 2:04:54
  try to do like an evaluation valuation multiple of whatever
• 2:04:59
  de minimis revenues we've had over the last 12 months.
• 2:05:01
  Like it's, it's well overvalued. But as we all know, like
• 2:05:05
  investing is not backwards looking, it's forward-looking.
• 2:05:08
  So what is the opportunity? It's just like, I mean, you, you
• 2:05:11
  sound like you have experience in biotech.
• 2:05:14
  There's plenty of pre revenue companies there, but it's a
• 2:05:15
  matter of like how big is the opportunity of the population of
• 2:05:20
  the drug that you're developing and what is going to be the the
• 2:05:23
  take rate? And then, you know, is this a
• 2:05:25
  drug that people take once and then they're done, or is it
• 2:05:28
  something that they're going to be on for like the rest of their
• 2:05:30
  lives? But that's how people you know,
• 2:05:33
  you have pre ravity biotechs that are worth billions of
• 2:05:35
  dollars because what they have is promising and it's on the
• 2:05:38
  come like it's about to happen. And so I think for AST, as I
• 2:05:44
  mentioned before, like the military use case was not even
• 2:05:47
  part of the company's Lexcom, more were investors talking
• 2:05:51
  about it up until basically last year, last year and then this
• 2:05:56
  year in a big way. And so I think that's a big part
• 2:05:59
  of the rewrite because now you've got a business that is
• 2:06:04
  diversified, it's got commercial, it's got government,
• 2:06:07
  government meaning, you know, like first net, first responder
• 2:06:10
  stuff and then you've got Fets. So being able to leverage the
• 2:06:15
  same constellation for these different applications is huge.
• 2:06:19
  And, and so I think just like for NVIDIA, we, I think Catsy
• 2:06:24
  was the one who started using NVIDIA as an example, and I
• 2:06:27
  think Verania as well. You know, those, those
• 2:06:31
  semiconductors were first thought to be only graphics
• 2:06:33
  accelerators, but yet now various application because they
• 2:06:38
  are the best in terms of computing.
• 2:06:41
  Now they're being used for AI and, you know, other
• 2:06:44
  applications, which is why the company trades at this
• 2:06:46
  astronomical evaluation, which I think you've got to look at the
• 2:06:50
  future potential of what AST can do.
• 2:06:51
  It's you've got this like global constellation.
• 2:06:55
  It's basically a communications platform that can leverage low
• 2:06:58
  band spectrum. And then this, the next
• 2:07:00
  constellation will leverage mid band spectrum, but you're
• 2:07:03
  offering broadband connectivity platform which then you can
• 2:07:07
  build applications on whether that's connectivity to
• 2:07:10
  consumers, It could be Internet of Things, tracking devices, you
• 2:07:15
  know, robots, any number of you know, those types of
• 2:07:19
  applications. But then you've got also
• 2:07:23
  military connecting war fighters or backup GPS or doing
• 2:07:28
  electronic warfare like jamming, spoofing, I mean, there's any
• 2:07:31
  number of things. But yeah, what is that worth,
• 2:07:34
  right? And that's only the stuff that
• 2:07:37
  we're speculating as you know, quote UN quote, retail
• 2:07:41
  investors, but it doesn't include all the things that the
• 2:07:45
  company's working on which or they haven't even conceived
• 2:07:49
  which it's, it's funny, like if you talk with management about
• 2:07:54
  military, like they would tell you that two or three years ago
• 2:07:58
  they were, they were being used or, you know, they had
• 2:08:01
  conversations for a few, you know, a few applications.
• 2:08:04
  But then recently, especially like post Verizon, we learned
• 2:08:08
  like, you know, the phone is very off the hook.
• 2:08:10
  Like they're, they're they're now including a lot of other
• 2:08:13
  meetings and, you know, evaluations for other use cases.
• 2:08:17
  You know, one obviously is golden tone.
• 2:08:19
  And so, so yeah, I, I think that's the, the, the potential
• 2:08:24
  of like, as Kook would say, the white space here is enormous.
• 2:08:28
  And so how do you value that? And is it, are, are, are people
• 2:08:31
  looking at EBITDA multiples based off of 20272028?
• 2:08:36
  You know, what are those, what is that EBITDA projection based
• 2:08:39
  on? Is it based on just commercial?
• 2:08:40
  Does it include a little bit of government?
• 2:08:42
  Does it include some defense? And then, you know, there's
• 2:08:45
  probably other applications that we're not even thinking about.
• 2:08:48
  Like I remember having a conversation with Scott back in
• 2:08:52
  2021. He was telling me, hey, you
• 2:08:54
  know, these phased arrays, like it's not just for listening for
• 2:08:57
  signals like down the Earth, but you can also listen to things
• 2:09:01
  out in space. And that got me thinking.
• 2:09:03
  It's like, oh, I didn't think, I didn't know that you could
• 2:09:06
  actually go the other way. Yeah, there's a lot of different
• 2:09:11
  cool applications that I'm sure I haven't thought about and
• 2:09:15
  probably Catsy has, but you probably have to share all, all
• 2:09:18
  of them. But but yeah, how do you, how do
• 2:09:20
  you value that? And so that's, that's the fun
• 2:09:22
  part where it's like, you know what, how do you value that and
• 2:09:26
  what can it become? Which is, which is great.
• 2:09:29
  It's not like we're, you know, we're, it's, it's not like
• 2:09:32
  you're investing in a restaurant chain and it's a matter of how
• 2:09:34
  many stores can they open. Like this thing is
• 2:09:37
  transformative in some many different ways.
• 2:09:39
  No, absolutely. And you know, one of the use
• 2:09:42
  cases that has kind of come up to me just from light reading
• 2:09:46
  about another company called Gorilla Technology Group is the
• 2:09:50
  concept of smart cities. I mean, that to me just sounds
• 2:09:54
  like a direct use case. If it's going to be a smart
• 2:09:56
  city, it's a it's a literal city built on IoT.
• 2:09:59
  And you know, reading Cassie's long, you know, 18 sometimes
• 2:10:05
  page posts on X, it sounds like this is the sort of thing that
• 2:10:08
  you would need, you know, that kind of coverage for it all
• 2:10:13
  times from these satellites because the handovers, you know,
• 2:10:16
  every four or five seconds from Starlink would just decimate any
• 2:10:20
  ability to have continuity. But I guess with ours or want to
• 2:10:25
  say ours ASTS, it sounds like that's not even really a thing
• 2:10:29
  that could pop up because it's still a a side case or what's
• 2:10:33
  the word? It's supplemental.
• 2:10:34
  I should say supplemental coverage.
• 2:10:36
  Right, Yeah. I mean, what's cool though is
• 2:10:39
  like legato and this is like, this is the elegance and the and
• 2:10:45
  sorry, I'm in a car right now. There's an ambulance going by.
• 2:10:49
  So sorry for the noise. But what's cool about the
• 2:10:51
  company is like, as I mentioned before, the defense use case was
• 2:10:54
  not really in, in lexicon before and then Legato too.
• 2:10:57
  But Legato is something that came out of the blue in January
• 2:11:01
  and it's something that, you know, me as an invent driven,
• 2:11:05
  invent driven investor and also kook like we, we knew about
• 2:11:07
  Legato as an asset, but never really contemplated the company
• 2:11:12
  buying the spectrum usage rights for 80 years for Alabama, which
• 2:11:16
  basically transforms the company, right.
• 2:11:18
  So yeah, we, we provide supplemental coverage for
• 2:11:23
  cellular, cellular devices. But then with Legato, you're
• 2:11:26
  actually going to provide not supplemental, but primary
• 2:11:29
  coverage across the entire country, whether the US or, or
• 2:11:32
  Canada. And so it it means that you can
• 2:11:36
  blanket connectivity even in cities in, you know, dead zones,
• 2:11:42
  hot, whatever it is, right? And so when talking about like
• 2:11:47
  what you were saying before about connectivity, like in
• 2:11:49
  smart cities, like, yeah, it's not just if there's cell towers
• 2:11:54
  that are providing terrestrial service, legato can also be used
• 2:11:58
  to augment that, right? And, and that's the cool thing
• 2:12:03
  about this, about this investment is like the company
• 2:12:06
  is not something that anyone was even thinking about.
• 2:12:08
  But the company, like if you speak with management, like
• 2:12:11
  they've been watching Legato for a number of years and it was
• 2:12:14
  kind of in their plan to eventually, you know, make a,
• 2:12:17
  make a play for it, which once they had the capital to do it,
• 2:12:20
  they did. And and now you know, there's a
• 2:12:24
  lot of really cool things, whether that's just providing
• 2:12:28
  even fixed wireless service, but then also around government use
• 2:12:32
  cases for defense and Golden Dome and any number of things
• 2:12:35
  where Legato is going to come in quite handy.
• 2:12:39
  So another question for you Kuiper, is Kuiper currently able
• 2:12:45
  to or or just operating with fixed wireless?
• 2:12:48
  Is that part of their their offering and function?
• 2:12:54
  Yeah, Kuiper is is the equivalent of Starlink fixed
• 2:12:58
  wireless for home, right? Like MC Dishy flat face or
• 2:13:01
  whatever. That's what Kuiper's going to
• 2:13:03
  do. Like when they build out the car
• 2:13:05
  constellation that's going to be for fixed wireless.
• 2:13:09
  You know, if you're if you wanted alternative to cable or
• 2:13:14
  fiber, then you would you could subscribe to Kuiper.
• 2:13:17
  So that's that's really competing with the core business
• 2:13:20
  of what Starlink does it. It's not direct to device,
• 2:13:24
  which, you know, when you see the the picture of a bell and
• 2:13:29
  Jeff Bezos Adrianos is narrows together.
• 2:13:32
  That could you know, this speculation can run wild in
• 2:13:35
  terms of like, oh, I wonder if Kiper and AST could work
• 2:13:38
  together or maybe, you know, maybe Bezos or Fortune or Amazon
• 2:13:43
  might make an investment in AST or maybe it's more for Amazon to
• 2:13:47
  work with AST because the other thing is like for some of this
• 2:13:50
  government work, you're going to need back in infrastructure.
• 2:13:54
  So whether that's, you know, Amazon Web Services or AWS or
• 2:13:59
  Microsoft Azure, you know, there's a whole host of parties
• 2:14:03
  that it would make sense for AST to work with.
• 2:14:06
  But yeah, Kuyper is different than what we're doing.
• 2:14:10
  So I, I guess, yeah, I can see why everyone is think is
• 2:14:13
  speculating because it would almost make you think it's like
• 2:14:17
  another Waymo, right? Where Uber and Google invest
• 2:14:21
  together for a competitor to FSD Tesla's robo taxis.
• 2:14:25
  So I guess I can see why the speculations been so rampant.
• 2:14:28
  I was trying to figure out what that was about for a while and
• 2:14:30
  now I get it. I don't think anybody knows.
• 2:14:33
  By the way, right it's still speculate it.
• 2:14:35
  Was just, yeah, but I, it's kind of funny because like the bears
• 2:14:39
  would, would say, you know, ASD is inconsequential company.
• 2:14:43
  Like then it's like, oh, oh, FL's meeting at at Blue Origin
• 2:14:49
  headquarters in Kent, WA. So I wonder what that's about.
• 2:14:52
  You know, I mean, obviously we're, we're the biggest
• 2:14:55
  commercial customer outside of Kuiper and the Department of
• 2:14:58
  Defense for the origin. But yeah, there's a whole host
• 2:15:03
  of ways that that that we could work with any number of, you
• 2:15:08
  know, Bezos companies or him personally.
• 2:15:13
  So I don't know, I'll let you go off this last question.
• 2:15:16
  Something that was kind of eating at me was trying to
• 2:15:18
  figure out why AST was able to purchase the gotto or be in the
• 2:15:22
  position to win, you know, the spectrum through, you know,
• 2:15:26
  lease purchase, whatever. If there are other players like
• 2:15:30
  SpaceX or like how does how does that even happen?
• 2:15:33
  You would almost assume that the higher bidder if if they were
• 2:15:36
  higher, would probably. Win that, Yeah, that.
• 2:15:40
  No, that's a great question. So part of it is technology and
• 2:15:44
  part of it is business, right? So on the technology side, as as
• 2:15:48
  Catsy has laid out elegantly over the years, our satellites
• 2:15:52
  are really large. We have a very large phase
• 2:15:56
  array, right, This large aperture that can efficiently
• 2:16:01
  beam down signal and do it in such a way that does not cause
• 2:16:04
  interference, right? Because it's very precise versus
• 2:16:08
  like Starlink where you have a very small phase array, it beams
• 2:16:12
  down a very wide signal and it can't be very precise.
• 2:16:15
  And so it's subject to a lot of inner causing interference.
• 2:16:19
  And so, so what's easier with legato?
• 2:16:21
  Legato legato spectrum is next to the same spectrum that GPS
• 2:16:27
  uses, the GPS, you know, GPS system also some defense
• 2:16:32
  applications as well. And so the concern for Goto when
• 2:16:36
  they tried to utilize that spectrum, not for MSS use, you
• 2:16:40
  know, satellite use, but they tried to get it.
• 2:16:41
  They did. They got it approved for
• 2:16:44
  terrestrial use. Is that concerned with GPS and
• 2:16:48
  defense, the Department of Defense is that it would cause
• 2:16:51
  interference with those applications and in particular
• 2:16:55
  GPS. Obviously nowadays like every
• 2:16:58
  device, everybody relies on GPS, you know, whether that's on your
• 2:17:01
  phone or your car, it's a, it's a critical service that if
• 2:17:06
  there, if there's any interference to that could be
• 2:17:09
  catastrophic, right? And so enter Starlink, if they
• 2:17:14
  wanted to, you know, get the spectrum usage rights with
• 2:17:18
  Logano, the way that their satellites are architected and
• 2:17:21
  the system are architected, I think you would probably have
• 2:17:26
  the same, if not worst interference concerns.
• 2:17:29
  But then step in, you know, steps into the picture AST space
• 2:17:32
  mobile, which has these very large satellites which are
• 2:17:36
  architected, you know, from first principles to beam down
• 2:17:40
  clean signals that don't cause interference.
• 2:17:43
  And so it it just happens, you know, to be at the right place
• 2:17:47
  at the right time. Legato had tried to launch a
• 2:17:50
  terrestrial fixed wireless service for I don't know a
• 2:17:54
  second or third time iteration and, and was basically
• 2:18:00
  financially in trouble. And then we, we came in and
• 2:18:04
  said, hey, why don't we work together because we've got these
• 2:18:06
  great satellites that can utilize your spectrum and you
• 2:18:10
  know, we can monetize them. We, we will pay you this, you
• 2:18:14
  know, which is candidly a very cheap fee upfront in terms of
• 2:18:19
  penny warrants and then the payments to Inmorsat, then the
• 2:18:22
  annual $80 million payments. But then which is, you know,
• 2:18:26
  relative to the value of the spectrum, those are very, those
• 2:18:28
  are basically like peanuts. But then we actually propose to
• 2:18:32
  give them forget the exact number.
• 2:18:34
  I think it's like 12 1/2% of all North American revenues from at
• 2:18:38
  the businesses that we built. And so for them that, that
• 2:18:40
  upside was tremendous, right, because they, they saw the the
• 2:18:45
  ability of, of our satellites to properly use that spectrum in a
• 2:18:49
  non in a way that doesn't cause interference.
• 2:18:51
  And so technology wise, we were the right fit outside of
• 2:18:56
  Starlink and AC. You know, there's a bunch of
• 2:18:59
  legacy players, but I don't think that anybody else has this
• 2:19:04
  technology to properly use the L band spectrum.
• 2:19:08
  But then the business model too. So I think as we've seen with
• 2:19:14
  Elon Musk, like he's a pretty, he could be a difficult business
• 2:19:18
  partner to work with. And so I think there's certain
• 2:19:23
  level of trust that a bell is able to garner with with other
• 2:19:28
  business partners where they're, I mean, clearly there's like
• 2:19:31
  over 50 global MN OS have decided to work with us.
• 2:19:35
  You know, like, for example, Verizon chose HT over Starlink.
• 2:19:40
  Part of that, a big part of that is technology, but a big part of
• 2:19:43
  it also is business model because Starlink is competitive
• 2:19:46
  with, you know, Verizon's fiber and, and home Internet service.
• 2:19:51
  But then also just, you know, you've got Elon Musk who has
• 2:19:55
  ambitions to potentially get into the basically to compete
• 2:20:00
  with, you know, M and OS that's that's hard to go into
• 2:20:04
  partnership with this with them. So.
• 2:20:07
  But T-Mobile did I think was very short sighted.
• 2:20:10
  And so you know, they've, I've, I've tweeted out for us and I
• 2:20:13
  won't go through it all here, but there's huge conflicts there
• 2:20:17
  over the long run. Like they might play nice
• 2:20:19
  together today, but I don't know how T-Mobile is going to work
• 2:20:23
  with Starlink. You know, two or three years
• 2:20:26
  from now. I think that relationship is
• 2:20:28
  going to be pretty untenable. But from a business business
• 2:20:32
  model perspective, I think AST is just a more natural partner
• 2:20:35
  to work with than than Starlink. Because I think what was quite
• 2:20:40
  telling whether that was the Twitter buyout where you know,
• 2:20:44
  Elan offered or, you know, agreed to a definitive, he he
• 2:20:50
  signed a definitive agreement to buy Twitter, but then he tried
• 2:20:52
  to back out of it and then he tried to cut the price.
• 2:20:55
  People remember those things, right?
• 2:20:56
  And so I think for anyone who is contemplating going into
• 2:21:01
  business with Elan, like, you know, we saw it recently with
• 2:21:04
  the fallout with Trump, these can quickly change.
• 2:21:07
  And so I think for a party like servers and Fortress, the
• 2:21:11
  technology made sense. But also from a business
• 2:21:13
  perspective, you know, why do I want to go with Starlink?
• 2:21:19
  Who's going to be working with T-Mobile?
• 2:21:21
  I don't know if I'm going to even be able to negotiate some
• 2:21:23
  kind of those revenues, but then I'm going to be able to get be
• 2:21:27
  part of the business that's going to, you know, sell through
• 2:21:31
  Verizon, AT&T and I get a cut of that.
• 2:21:33
  Like that's way more attractive. But then also like this is a
• 2:21:36
  business partner that I can trust.
• 2:21:38
  Like they're they're they stick by their word.
• 2:21:42
  And you know, for Lovato, they were, they were entering into
• 2:21:45
  bankruptcy and they needed an exit plan.
• 2:21:48
  And this this plan made the most sense.
• 2:21:51
  And, you know, I, I think quite candidly, there was probably an
• 2:21:55
  element of it was a good fit for good fit for all the parties.
• 2:21:58
  But also from our side of the table, I think it was, there was
• 2:22:02
  a lot of luck in time, right? Because, you know, they, they
• 2:22:06
  hit this financial wall and then they needed help and we were
• 2:22:11
  able to get in and basically, you know, get the rights to use
• 2:22:15
  the spectrum for a song. Like, I mean, just super cheap.
• 2:22:17
  Like whether you believe Legato, you know, they in a terrestrial
• 2:22:22
  use case for fixed wireless, they think the spectrum's worth
• 2:22:25
  39 billion, which, you know, I think where we are looking to
• 2:22:30
  use the spectrum, it's probably going to be worth maybe half
• 2:22:33
  that. But then who knows, maybe as we
• 2:22:35
  expand applications utilizing without a spectrum, you could
• 2:22:39
  realize the full value of 39 billion.
• 2:22:41
  And so maybe, you know, that's part of the market re rating our
• 2:22:46
  stock today that everyone's now saying, oh, hey, this is
• 2:22:50
  significant upside that's not being priced in.
• 2:22:52
  Like if I do a some of the parts evaluation, you're telling me
• 2:22:56
  that I can buy AST space mobile and the value of AST is Legato,
• 2:23:02
  which they just got, you know, the, the bankruptcy court
• 2:23:05
  approved the disclosure schedule and that, that the, the plan is
• 2:23:07
  going to be confirmed in August. But I'm basically buying the
• 2:23:10
  stock today for that spectrum value and then I get the
• 2:23:12
  commercial defense and government business for free.
• 2:23:15
  That, that sounds pretty good. I'll buy, I'll buy some stock
• 2:23:18
  today. So that's, you know, that's like
• 2:23:20
  a classic some of the parts hedge fund optionality
• 2:23:25
  evaluation case that someone would make.
• 2:23:27
  But but, but yeah, I mean, that's one way you could look at
• 2:23:34
  it. So I I got sorry, did I cut you
• 2:23:37
  off, Mitch? No, you didn't.
• 2:23:41
  I appreciate it. I just want to say thank you.
• 2:23:46
  Yeah, Thanks for coming up. Thanks for.
• 2:23:48
  Yeah, thanks for coming up. So I just time check on you.
• 2:23:52
  It's been 2 1/2 hours. I got two more people that were
• 2:23:54
  wanted to speak, but I was going to stop accepting new speakers.
• 2:23:58
  He's probably close down. All right, cool.
• 2:24:01
  And then as an intermission break, King Tut had an important
• 2:24:05
  question. He wanted to hear your thoughts
• 2:24:06
  on Tim Ferrar. He were no eight man's thoughts
• 2:24:11
  on those. Eight man.
• 2:24:13
  Yeah, I remember Chris who joined earlier when when I did
• 2:24:18
  that, you too with Amit, he called me a man or someone
• 2:24:21
  called a man. My thoughts on Tim Farrar like
• 2:24:24
  is that a serious question? No, it's skid.
• 2:24:27
  Tat's probably just rolling. I was just too young.
• 2:24:32
  If you want to know his thoughts, look at his replies,
• 2:24:34
  everyone. You'll see his thoughts.
• 2:24:37
  All right, so I had 400 KG. You were next and then farm your
• 2:24:41
  upper head or KG still on there Man, you've been waiting for a
• 2:24:48
  long time give you a second you. Probably passed out.
• 2:24:53
  Mitch to London. No.
• 2:24:56
  All right. Farm, farm.
• 2:24:58
  Go ahead, man. Hey, Jacob, thanks for hosting
• 2:25:01
  the spaces and AMP, man. Just thank you for your
• 2:25:05
  contagious conviction on the stock.
• 2:25:07
  A buddy and I that I used to swap biotech ideas with Twitter
• 2:25:11
  AST on my radar and I like to get off of social media and do
• 2:25:15
  my research, you know, the old fashioned way.
• 2:25:18
  And I kept coming back to Twitter, obviously because I'm
• 2:25:20
  addicted to Twitter and I kept seeing your posts, kooks, tots,
• 2:25:23
  everybody's posts. And I'm like, I don't believe,
• 2:25:26
  but I believe that these guys believe because of every group
• 2:25:30
  that they're saying about the stock, you know, So it's like I
• 2:25:32
  didn't have the conviction, but I believe you believed, you
• 2:25:34
  know. And so I remember my first
• 2:25:39
  purchase was the day at Skyrocket.
• 2:25:41
  I think I got it just under 36 and I thought I just need
• 2:25:46
  exposure to the stock. I just need to get in because
• 2:25:47
  I'm afraid it's going to go to the moon, you know, and I've
• 2:25:51
  been lucky because as my conviction rose, the stock price
• 2:25:54
  was inversely, you know, going downward and I was able to add
• 2:25:57
  and, and get my average way, way down, which was awesome.
• 2:25:59
  So just a huge thanks to you for for everything that you guys
• 2:26:02
  have done and put out there for free.
• 2:26:03
  You know, this time and stuff. I'm working OT right now at home
• 2:26:07
  and just to have the spaces on makes the time go by so much
• 2:26:10
  quicker. So that's kind of a background
• 2:26:13
  amp. What do you think about the
• 2:26:14
  Vodafone Idea deal? I looked it up and there were
• 2:26:17
  some bankruptcy issues, there were some money issues with the
• 2:26:20
  company. Can you speak to that?
• 2:26:21
  Do you know what's going on with that?
• 2:26:24
  I, I did read a little bit about that.
• 2:26:26
  I don't know much about Vodafone Idea, but it is a joint venture
• 2:26:31
  between Vodafone and Idea. So hence the name.
• 2:26:36
  But then also the Indian government owns like 49% of it.
• 2:26:39
  So but yeah, I think I think that company has hit like some
• 2:26:44
  financial issues. And so I think part of this deal
• 2:26:48
  is to help differentiate Vodafone an Idea and perhaps
• 2:26:52
  give it another Ave. of growth so they can go get more
• 2:26:57
  subscribers because it's it's the third largest carrier in
• 2:27:01
  India. But it's it's third, I mean
• 2:27:04
  third largest is still big. It's 212 million subscribers.
• 2:27:07
  But compared to the the two larger ones, Gio and party party
• 2:27:11
  Airtel, I think it is smaller. And so I think, yeah, I mean
• 2:27:18
  it's I, I don't really have much to add beyond that.
• 2:27:20
  I mean, it's a very large market.
• 2:27:22
  And I think for Vodafone Idea, it's going to be a good
• 2:27:28
  differentiator. And more importantly, I think
• 2:27:32
  versus like supplemental coverage, which I think is
• 2:27:34
  helpful in India. For India, it's, it's really
• 2:27:39
  going out to the, I think it's like 450 million folks who don't
• 2:27:46
  have any Internet access whatsoever.
• 2:27:49
  And so it's almost like pursuing business in Africa, right, where
• 2:27:54
  there's, there's parts of India that just aren't that don't have
• 2:27:58
  any Internet connectivity. And so I don't think it's like
• 2:28:03
  your typical M&O deal. This one is really going to be
• 2:28:08
  about expanding coverage and produce subscribers, I think.
• 2:28:11
  But but yeah, I beyond that, I don't really have much to add.
• 2:28:15
  I, I probably should like read up a bit more, but candidly for
• 2:28:20
  me, I outside of like the handful or the handful of like
• 2:28:26
  he profitable markets that AST now kind of has a lock on these
• 2:28:31
  other markets are, are additional growth drivers.
• 2:28:35
  And then it's going to expand the Tam.
• 2:28:37
  But they're, these markets are going to be ones that the
• 2:28:40
  company gets to perhaps 2123 years from now, because there's
• 2:28:45
  so many markets that they're going to have to roll out and
• 2:28:49
  execute that these are all going to be in phased approaches.
• 2:28:53
  So, so for example, like when you see * Lake, they'll say,
• 2:28:56
  Hey, we just had a connectivity to Nigeria or we've, we like to
• 2:28:59
  welcome this country. It's because like this stuff
• 2:29:02
  takes time, like not just regulatory standpoint, but
• 2:29:04
  putting everything infrastructure in place and then
• 2:29:07
  turning on the service, making sure they have enough capacity.
• 2:29:10
  So for ASD, like it's, it's almost like an insurmountable
• 2:29:16
  wall of opportunity. Like there's that like on one
• 2:29:21
  hand, people will all want them to move as fast as they can, but
• 2:29:24
  there's also like some level of limitations to scale, like, you
• 2:29:31
  know, rolling out a service in X amount of countries over a
• 2:29:34
  certain period of time, like you can only do so much, right?
• 2:29:36
  So, so I think it's good that they can do it have this cadence
• 2:29:40
  of adding M and OS. And, and once I think we get
• 2:29:44
  closer to the service having initial launch, I think you're
• 2:29:48
  going to see them more definitive agreements like these
• 2:29:51
  partnerships turn into more commercial definitive
• 2:29:53
  agreements. Once 'cause I, I, you know, for
• 2:29:57
  the company, it benefits them to wait to ink these deals cause
• 2:30:00
  the economics go more into your favor once the service is, is up
• 2:30:03
  and running. But yeah, it's I, I, those are
• 2:30:08
  my initial thoughts. I don't know that much about the
• 2:30:10
  company, but yeah, there, there's, there's actually quite
• 2:30:13
  a few people, I guess from India tweeting about it.
• 2:30:15
  So I should probably go read some of those threats.
• 2:30:18
  Thanks, Namp, I appreciate it. Just one more thing, if you guys
• 2:30:20
  are new here, this is a wonderful, wonderful investment
• 2:30:23
  community. I've been doing this for about
• 2:30:25
  25 years. I've never met a group of people
• 2:30:27
  that are as kind and generous with their time.
• 2:30:30
  I've met guys in real life here in Arizona and Phoenix.
• 2:30:33
  Corey and I are both pharmacists, so we connected
• 2:30:35
  that way and became fast friends.
• 2:30:37
  We play Call of Duty online. It's just a fun community if
• 2:30:40
  you're new, yeah, hang around and stick around.
• 2:30:42
  I think you'll if if anything, you'll learn something new and,
• 2:30:45
  and and then that could be the best part of it.
• 2:30:46
  So thanks guys. Hey, man, thanks for coming up.
• 2:30:50
  Yeah, I, I when I learned you guys are both pharmacists, then
• 2:30:54
  it all made sense as to like, why you're crazy.
• 2:30:57
  Appreciate it, dude. See you guys later.
• 2:31:00
  Take care, all right, man. There's nobody else to request
• 2:31:07
  it either. So I appreciate you spending
• 2:31:09
  spending your drive home with us.
• 2:31:11
  I think you've got to be close to him, right?
• 2:31:13
  Yeah. No thank you.
• 2:31:14
  I'm actually crossing the Brooklyn Bridge right now.
• 2:31:17
  No, thank you Jacob for hosting because for everyone.
• 2:31:20
  I reached out to Jacob and I was like, hey, are you free to do
• 2:31:24
  you mind hosting this Because I have 4 hours to kill or now or
• 2:31:28
  at the time 3 hours to kill and I can't obviously manage people
• 2:31:31
  while I'm driving that would be bad.
• 2:31:33
  But thanks Jacob for taking the time.
• 2:31:35
  I hope this is fun. And for me this is great because
• 2:31:38
  I that that it went by like in a blink of night.
• 2:31:42
  So what was going to be a very painful drive back by myself
• 2:31:46
  ended up being very enjoyable. Yeah, it was I mean, it's fun,
• 2:31:51
  man. It's I like some of this stuff,
• 2:31:53
  like hearing like some of the like the like where the A
• 2:31:55
  started from some of that stuff. I just you know, it's kind of
• 2:31:57
  like legend stuff you don't like, you know, every just doing
• 2:32:00
  it. So I I like that.
• 2:32:01
  I love hearing people's stories about where they're coming in
• 2:32:03
  and investing. You can just like give some that
• 2:32:05
  to you and there's a couple guys that kind of got you really like
• 2:32:07
  like some some interesting questions that I like.
• 2:32:10
  Oh, all right, yeah, where where is that next idea of like, you
• 2:32:13
  know, why doesn't the daily why? Why maybe the gateway not work
• 2:32:17
  over water initially, something like that.
• 2:32:18
  So I, I enjoy it. I learn a lot from these too.
• 2:32:21
  So I appreciate it, man. Yeah, I'm, I'm, I'm personally
• 2:32:25
  burnt out after 2 1/2 hours. So I'm going to I'm going to
• 2:32:28
  call it here too. Unless you unless you're still
• 2:32:30
  wanting to go. No, no, that let's call it.
• 2:32:33
  But I, yeah, thanks everyone for coming and yeah, killing time
• 2:32:37
  with us because that's what we did, which is good.
• 2:32:39
  But I, I agree with you. I, I will say, like, after just
• 2:32:44
  following this company for five years, it is helpful to listen
• 2:32:47
  to these spaces or, or to reading or just talk with people
• 2:32:51
  because like, whether it's Katzy, you know, I'm always
• 2:32:55
  learning something new from him or cook spaces or, or even like
• 2:32:59
  having new people just come up and ask questions.
• 2:33:01
  Like I learn a lot myself. And, and I think like, I'll just
• 2:33:05
  say this in closing, when people say thank you for sharing, it's,
• 2:33:10
  it's actually like we're so happy, like Cook and I and Kathy
• 2:33:15
  and others, because we, we are like in the beginning, we're
• 2:33:17
  like, wow, this is an amazing company, but no one knows about
• 2:33:20
  it and kind of felt alone. And so I think now that the
• 2:33:25
  community has grown and obviously the awareness has
• 2:33:27
  spread and, and people really understand the story.
• 2:33:29
  It's just really great to see. And I don't think any of us
• 2:33:32
  would have had the conviction to invest and hold throughout this
• 2:33:37
  entire journey without the support of others.
• 2:33:39
  And whether that's confirmatory due diligence or just even
• 2:33:44
  having a laugh with someone, like on a shitty day when the
• 2:33:47
  stock is down and just, you know, I'm someone's about to
• 2:33:49
  like jump off of a Cliff, it's like, hey, just just laugh a
• 2:33:52
  little. Like we, we've done the work.
• 2:33:55
  There's no, there's like, you know, the market is down or the
• 2:33:58
  company is down for whatever reason.
• 2:34:00
  Like just having people remind you that This is why you own the
• 2:34:04
  company. These are the reasons.
• 2:34:05
  Yeah, these are the concerns And, and yeah, it's like what we
• 2:34:10
  we talk about like short thesis, the, the short thesis selling
• 2:34:14
  points are actually milestones. It's like, yeah, if you think
• 2:34:17
  about it a different way, yeah, there's all these these
• 2:34:19
  potential issues, but those are milestones that the company is
• 2:34:22
  actively working on and knocking them down 1 by 1.
• 2:34:25
  And so you've just got to change.
• 2:34:26
  Like sometimes you it's, it's helpful to have a friend to help
• 2:34:29
  you get over that hump and change the way that you're
• 2:34:31
  thinking. And so, so yeah, that's why,
• 2:34:34
  that's why having an investing community, that investing cult
• 2:34:40
  can be helpful. But but yeah, thanks everyone
• 2:34:42
  for joining. This has been great.
• 2:34:44
  And we'll do it again soon sometime.
• 2:34:46
  I'll just let this run for a while because I know it cuts off
• 2:34:50
  early. But thanks again, Jacob, and
• 2:34:52
  we'll talk again. Thanks for listening to the AST
• 2:34:56
  Space Mover podcast. If you enjoyed this episode and
• 2:34:59
  you'd like to help support the podcast, please share it with
• 2:35:02
  others, post about it on social media, or leave a rating and
• 2:35:06
  review. To catch all the latest news
• 2:35:08
  about AST Space Mobile, make sure to subscribe.
• 2:35:11
  Thanks again and I'll see you next time.
• 2:35:17
  We're doing something very, very big and acting with this
• 2:35:19
  technology, we can really affect a billion lives.
• 2:35:23
  AFT Space Mobile is the only company that has proven
• 2:35:26
  technology to deliver cellular mobile connectivity directly
• 2:35:30
  from space to the everyday smartphone.
• 2:35:33
  People will just basically turn their phone can be seamless
• 2:35:37
  regardless of where you are. We don't want the user even to
• 2:35:40
  know that it's connected by satellite.
• 2:35:42
  Our role is to bring this into reality, always in partnership
• 2:35:46
  with the MMO.