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The Next Era of Space: Every Player You Need To Know · In the Loop AI

0:00
Ejaaz: Three weeks ago, NASA committed $20 billion to putting a human settlement on the Moon.
0:05
Ejaaz: Then two weeks ago, SpaceX saw for the largest IPO ever, valuing them at $1.75 trillion.
0:12
Ejaaz: And then just last week, we sent humans around the Moon for the first time in
0:16
Ejaaz: 53 years, traveling 250,000 miles away from Earth. Just massive.
0:21
Ejaaz: And then this morning, Amazon acquired Global Star for $11.6 billion.
0:25
Ejaaz: And on Friday, Blue Origin is sending their third orbital rocket into space.
0:29
Ejaaz: That's five events in three weeks, and the industry for space is coalescing
0:34
Ejaaz: and mobilizing at a rate that we've never seen before.
0:37
Ejaaz: And for the first time ever, you can participate by investing in these companies.
0:41
Ejaaz: On this episode, we're going to explain the massive thesis around space and
0:44
Ejaaz: why it's the new investment opportunity that's coming right after AI at an opportune time.
0:49
Ejaaz: We're going to walk through all the different companies, all the different sectors,
0:52
Ejaaz: and exactly which companies are the most opportune for you to get involved in.
0:56
Josh: Space is a huge opportunity right now. It feels like the first time in history
0:59
Josh: in which we have the technology now to actually make meaningful progress in
1:03
Josh: space and generate actual value.
1:05
Josh: And what happened just recently is the Artemis 2 kind of kicked this off and
1:09
Josh: it made it seem possible.
1:11
Josh: Artemis 2 was a wild success. 10 day mission, 700,000 total miles.
1:15
Josh: They went, they took humans the furthest they've ever gone. They took them the
1:18
Josh: fastest they've ever gone.
1:19
Josh: They captured unbelievable photos along the way, like the one we're looking
1:22
Josh: at on screen, which is a moon eclipsing the sun, which is something we don't
1:26
Josh: get to. to see very often.
1:27
Josh: And it was just this really unbelievable mission. They recovered them in a dinghy
1:30
Josh: in the middle of the ocean.
1:32
Josh: And I guess maybe if we show this photo, that is a testament to the beginning
1:35
Josh: and the end of this new phase of space.
1:39
Josh: Because, I mean, NASA has been around forever. The last time they put humans
1:42
Josh: on the moon or the last time they went to the moon was over 50 years ago.
1:46
Josh: None of us were born yet. And the way that they recovered these astronauts is
1:50
Josh: it's in a dinghy. It looks a little old.
1:52
Josh: This is the end of the NASA era. This is the beginning of the private industry
1:56
Josh: era, where now NASA is going to be funding future missions to the moon and beyond
2:00
Josh: through these private entities.
2:02
Josh: And for those curious why, the numbers are a bit staggering.
2:05
Josh: SLS, the space launch system that NASA has, costs about $4.1 billion for this launch.
2:09
Josh: It's totally expendable. Every piece is thrown away. And it takes a very long
2:12
Josh: time for them to build these things.
2:13
Josh: Whereas SpaceX, on the other hand, a Falcon 9 launch costs $67 million,
2:18
Josh: which is 30 to up to 60 times cheaper than what it costs NASA to do these things.
2:22
Josh: And when you compare these two, we have to give a lot of credit to NASA for
2:27
Josh: getting us here, for having this mission actually work successfully,
2:31
Josh: for getting the astronauts home safe, for collecting all the data.
2:33
Josh: But it is now time to hand over the reins to these private companies that are
2:37
Josh: building unbelievable technology to do this at a far cheaper cost.
2:42
Josh: I mean, Falcon 9 is $2,700 per kilogram.
2:45
Josh: Starship is going to get that down to $10 to $70. So it's going to be a lot
2:49
Josh: cheaper, a lot more efficient.
2:51
Josh: And this unlocks a ton of opportunities in the market that we're going to get into.
2:54
Ejaaz: Yeah, I mean, during the space shuttle era, to transport like a kilogram was
2:58
Ejaaz: well over $50,000. And SpaceX has reduced that by 500 times, which is just insane.
3:05
Ejaaz: When I look at the space economy for last year, it was valued at around $626 billion.
3:11
Ejaaz: And it's projected to hit around $1.2 trillion by 2032.
3:17
Ejaaz: I actually think that's massively understated because we have one of the biggest
3:21
Ejaaz: IPOs ever, supposedly coming this year.
3:23
Ejaaz: SpaceX filed a confidential IPO filing with the SEC, I think two weeks ago,
3:28
Ejaaz: and valued it at $1.75 trillion, which will be the largest IPO that we've ever seen.
3:35
Ejaaz: Now, looking at the market, it typically means that this IPO will happen sometime in June.
3:40
Ejaaz: For some reason, people on Polymarket don't believe that that's going to happen too soon. I
3:44
Ejaaz: think technically it is. Elon's made some very strategic moves recently to make this happen.
3:50
Ejaaz: SpaceX has merged with X and XAI. XAI has merged with NX.
3:54
Ejaaz: So there's a lot of moves that make this a necessity at this point. He needs the capital.
3:58
Ejaaz: He's raising around $75 billion during this IPO to be able to fund a bunch of
4:03
Ejaaz: these launches going forward.
4:04
Ejaaz: He mentioned at one point recently that in an ideal world, within the next five
4:08
Ejaaz: to 10 years, there's a space launch every 10 minutes, which is an almost impossible
4:14
Ejaaz: fee to achieve given the context of infrastructure and investment that we need to have right now.
4:19
Josh: Yeah. And at that launch cadence, it's important to understand that this is
4:21
Josh: a huge change from what we have because currently in the first half of 2025,
4:25
Josh: it was a launch every 28 hours, which is a lot.
4:29
Josh: Don't get me wrong. That's a lot, but it is a far cry from the launch per every hour or two.
4:34
Josh: But this is happening. And this is the year in which a lot of the attention
4:38
Josh: is going to shift into space.
4:39
Josh: And this is a year where in which there's a ton of opportunities both publicly
4:43
Josh: and privately through this IPO through the
4:46
Josh: success of Starship through the success of the Artemis mission so we're going
4:49
Josh: to unpack that opportunity right here using this really cool artifact that we
4:54
Josh: generated through perplexity which we'll actually link in the description below
4:56
Josh: you can click through and engage with it yourself but it's this really nice
4:59
Josh: interactive portfolio that we're going to use to walk through the opportunity in space and
5:04
Josh: based on every category that there is. So we have launch providers,
5:08
Josh: we have the satellite providers, we have lunar infrastructure.
5:10
Josh: And it's very fitting because just today, there was a huge acquisition in this
5:13
Josh: space already. So the market is hot.
5:15
Josh: And let's get into the first segment, which is launch providers,
5:18
Josh: because I think this is probably the most noteworthy one, starting with Rocket Lab.
5:22
Josh: If you haven't heard of Rocket Lab, you should hear about Rocket Lab.
5:25
Josh: They're a pretty interesting company. You guys, you want to walk us through?
5:27
Ejaaz: Yeah. So if you've heard of SpaceX, which unless you've been living under rock, you definitely have.
5:31
Ejaaz: You might think that $1.75 trillion is a little over the price tag that you're willing to pay.
5:36
Ejaaz: There are other options for launch providers, and Rocket Lab is the major number two, basically.
5:42
Ejaaz: It's valued at around $40 billion in market cap, and it is the second most active
5:46
Ejaaz: launch provider globally.
5:48
Ejaaz: They've launched around 85 missions, and they've signed contracts worth, I think,
5:54
Ejaaz: $2 billion, or maybe it's like $1.8 billion. It's something in the billions of dollars.
5:58
Ejaaz: And they use or are developing their reusable rocket.
6:02
Ejaaz: Now, it's important to mention now that their latest reusable rocket,
6:05
Ejaaz: I believe it's called Neutron, has been delayed for over a year at this point.
6:09
Ejaaz: But that's pretty common amongst a lot of these space launch companies.
6:12
Ejaaz: And Rocket Lab is currently at the frontier.
6:14
Ejaaz: And if you look at their stock price here, it's currently sitting at around $73.
6:18
Ejaaz: It IPO'd in 2020 at, I believe, $10.
6:21
Ejaaz: So we've already got a 7x here. And a lot of eyes
6:24
Ejaaz: are now focused on rocket lab because they think that spacex valuation might
6:28
Ejaaz: be a little overblown and they're trying to do a lot more things rocket lab
6:31
Ejaaz: in context is focused or hyper focused on building out reusable rockets and
6:35
Ejaaz: being part of the highway into space right now spacex has the monopoly of this
6:40
Ejaaz: but companies like rocket lab is a viable alternative yeah
6:43
Josh: Companies that build these rockets that deliver payload to orbit are the foundational
6:46
Josh: infrastructure layer of the economy without this launch structure nothing else
6:50
Josh: works and currently spacex dominates 90% of this, but the market is expanding
6:55
Josh: and the real competitors are actually scaling up. So we have Rocket Lab.
6:58
Josh: We have another company that you may not have heard of called Firefly Aerospace.
7:01
Josh: And the third, which is the most interesting, and unfortunately the private
7:04
Josh: one currently is Blue Origin. Now, for those that aren't familiar,
7:07
Josh: this is Jeff Bezos' company.
7:08
Josh: He left Amazon, started working on this as a passion project,
7:11
Josh: and they work fairly closely with Amazon.
7:14
Josh: Now, Amazon was in the news today because it acquired one of the companies we're about to talk about.
7:17
Josh: But I think Blue Origin is one to watch because they have access to not only
7:21
Josh: the infrastructure through Amazon, but also Moneybags Bezos.
7:25
Josh: And they are actually the second farthest along when it comes to these kind
7:29
Josh: of larger spacecraft that can deliver more payload to
7:32
Josh: orbit with their new Glenn rocket. So Blue Origin, very excited about them.
7:35
Ejaaz: I'm starting to think that the private market is just almost worse than the public market.
7:41
Ejaaz: Like, you have a better investment opportunity investing in some of these public market stocks.
7:45
Ejaaz: Like, look at Blue Origin. Like, its market cap is estimated to be between $50 to $100 billion.
7:49
Ejaaz: That's already, like, multiples more than Rocket Lab, who has live testing rockets
7:53
Ejaaz: and launching. Now, granted, Blue Origin has done the same thing.
7:56
Ejaaz: But, you know, TrackRocket has to account for something here but
7:59
Ejaaz: i want to get into the acquisition that
8:02
Ejaaz: you just mentioned so this morning amazon announced that
8:05
Ejaaz: they are acquiring a company called global star which is basically
8:08
Ejaaz: going to be launching or helping to launch satellites into lower earth orbit
8:12
Ejaaz: now if that sounds familiar it's because elon musk and spacex specifically starlink
8:17
Ejaaz: is doing exactly that they're building direct to earth satellite broadband which
8:22
Ejaaz: will allow you to run the internet on any device wherever you are.
8:25
Ejaaz: So in spotty areas where you're going on a hike, or if you're in a country that
8:29
Ejaaz: doesn't get easy access to the internet, you now get seamless access,
8:33
Ejaaz: you could be on a plane, you could stream games, play games, whatever it might be.
8:37
Ejaaz: This is a similar competitor to that.
8:40
Ejaaz: Listen, I got to take a moment aside here to just congratulate and like shill Amazon for a second.
8:45
Ejaaz: They are so much more than an e-commerce company, which so many people kind of attribute them.
8:50
Ejaaz: They're involved in the AI race, they're supplying the chips to train some of these top models.
8:54
Ejaaz: They're the main distributor of it. And now they're also a space company as well.
8:58
Ejaaz: It's important to note that this is separate to Jeff Bezos' Blue Origin.
9:03
Ejaaz: In a way, they're kind of complementary to each other. But Jeff Bezos isn't
9:07
Ejaaz: directly involved in this, at least from the best of my knowledge. Is that right, Josh?
9:12
Josh: Yeah, well, he's still involved with Amazon. I believe he's still on the board.
9:15
Josh: But I mean, you have to assume this is kind of not as direct as a SpaceX Tesla
9:19
Josh: comparison, but both companies are going to actively work together to solve these problems.
9:23
Josh: And you can see on the chart, it's doing very well. Now, this was not the only
9:25
Josh: news from Amazon today, which the second headline I found even more interesting
9:29
Josh: than the acquisition offer, which was that they made a deal with Apple,
9:33
Josh: which I found interesting.
9:35
Josh: So Amazon has now signed an agreement with Apple to become the primary satellite
9:38
Josh: provider for iPhone and the Apple Watch, which is notable because it's not SpaceX.
9:43
Josh: They didn't choose SpaceX.
9:45
Josh: Apple customers are this, they go on to say Apple customers are already connected
9:49
Josh: out of cell range, and they'll do that with Amazon Leo satellites in the future.
9:53
Josh: So the low-Earth orbit satellites that I presume Blue Origin is going to be
9:56
Josh: launching into orbit, they are going to be Global Star satellites,
9:59
Josh: and they're going to be powering iPhones and Apple Watches. Now,
10:02
Josh: I understand that they have been working with Global Star currently,
10:06
Josh: where if you are currently out of service, if you point your iPhone at the sky,
10:09
Josh: you're connecting to a globalized satellite.
10:11
Josh: But I also understand that this isn't exclusive and this is kind of time based,
10:15
Josh: right, Ejaz? It's not just Global Star that they're working with.
10:17
Ejaaz: Yeah. And the time base or the timeline is pretty important to note here.
10:23
Ejaaz: It's planned to launch in 2028, this partnership with Apple,
10:27
Ejaaz: which by that time, you're probably going to have millions of Starlink satellites
10:30
Ejaaz: out there. and it wouldn't surprise me if Apple signs a similar deal with Starlink
10:34
Ejaaz: just because the service is better and already there.
10:36
Ejaaz: One thing I was looking into with this Global Star acquisition,
10:39
Ejaaz: because like $11.6 billion is a pretty hefty price to pay.
10:42
Ejaaz: They currently have 24 satellites in orbit, Global Star specifically.
10:48
Ejaaz: Now they're planning to launch 80 more satellites by the end of year.
10:53
Ejaaz: For context, Starlink has around 10,000 satellites live in orbit right now,
10:59
Ejaaz: and they're scaling, they just got approval, to scale to a million satellites over the next year.
11:04
Ejaaz: So the point is, we're talking about orders of magnitude, different scale here,
11:08
Ejaaz: and we already have a provable method via SpaceX to get payloads out there for cheap.
11:14
Ejaaz: And we're going with the next Starship launch very soon.
11:17
Ejaaz: So Blue Origin, Amazon, Leo, we have a bunch of catching up to do here.
11:24
Ejaaz: It's a nice thesis to uphold right now, but the infrastructure expense that
11:28
Ejaaz: they need to overcome right now is pretty massive.
11:32
Josh: For reference, a fully loaded Falcon 9 rocket deploys 24 satellites per launch,
11:37
Josh: which is a little interesting in the differences.
11:41
Josh: But back to the companies, there's another one here under the satellite broadband
11:45
Josh: and direct-to-device category, which is AST Space Mobile.
11:49
Josh: They're up 3,000% in the last few years, which has been a pretty impressive launch.
11:56
Josh: So there's a lot going on there. I think the next category is among my favorites,
12:00
Josh: which is lunar infrastructure.
12:01
Josh: Sure there's one company here but it is important to note that nasa just committed
12:05
Josh: 20 billion dollars to a permanent moon base so someone's going to have to start
12:09
Josh: collecting those payments i know spacex and blue origin are on that list but
12:13
Josh: there's another company,
12:14
Josh: named Intuitive Machines. Their ticker is Lunar, which is the first private
12:18
Josh: company to actually land on the moon in February of 2024.
12:21
Josh: They did the damn thing, which is pretty cool.
12:23
Josh: So they are clearly one of the front runners when it comes to lunar deployment.
12:28
Josh: And I think lunar is going to be really important because, I mean,
12:31
Josh: as Elon stated, we're going to be building a mass driver.
12:33
Josh: We're going to be putting people on the moon, robots on the moon.
12:36
Josh: We're going to start actually harvesting it for whatever resources,
12:39
Josh: science, information we can get out of it.
12:41
Josh: And I don't know the lunar industry it's it's pretty exciting to me.
12:44
Ejaaz: It's it's not just fake either like um if
12:46
Ejaaz: you're wondering like whether this company is just kind of like uh propagandering
12:50
Ejaaz: itself um it signed a five billion dollar contract and it right now it's to
12:54
Ejaaz: build the space um communications between earth and the moon when a settlement
13:00
Ejaaz: is eventually built but uh you know think about it like you're gonna need to
13:03
Ejaaz: be able to figure this out um but also elon has committed to also setting up a moon settlement,
13:09
Ejaaz: probably in cohesion with NASA on the moon.
13:12
Ejaaz: Is it by 2029 or is that when he wants to build the mass drive?
13:16
Ejaaz: I can't remember. Some of the timelines inflect.
13:18
Ejaaz: But the point is, there are around three concerted efforts or three major companies
13:23
Ejaaz: or initiatives to put humans on the moon.
13:26
Ejaaz: We just flew humans around the moon for the first time in 53 years.
13:28
Ejaaz: So we know that it's feasible.
13:30
Ejaaz: And the next step, we'll be figuring out whether the moon is habitable,
13:33
Ejaaz: where to put them, maybe it's on the dark side, how to create infrastructure
13:36
Ejaaz: around this to launch things like satellites or harvest moon resources.
13:40
Ejaaz: So all of this is becoming a reality. And the aim is to, I think the consensus
13:43
Ejaaz: is to do this within the next five to 10 years, which is, in my opinion,
13:46
Ejaaz: much sooner than I expect.
13:48
Ejaaz: And we're going to see that reflect in some of the prices of these companies,
13:50
Ejaaz: which are working on the key infrastructure, such as communications,
13:53
Ejaaz: such as intuitive labs, to be able to do this.
13:56
Josh: And there's even more infrastructure on the observation and space data.
13:59
Josh: So there's this funny thing in which you put satellites into space and then
14:02
Josh: just point them back at us.
14:03
Josh: And those high resolution images actually carry a lot of value for governments,
14:08
Josh: militaries, insurers, commercial clients.
14:10
Josh: There's a whole industry built on satellite imagery.
14:13
Josh: And there's a few front runners in the satellite imagery space,
14:17
Josh: particularly Planet Labs, which is the largest Earth observation satellite fleet.
14:21
Josh: And they do daily images of the entire land mass of Earth, which serves defense,
14:27
Josh: it serves agriculture, insurance, climate.
14:30
Josh: There's a lot of science, a lot of money, a lot of security that's revolving
14:34
Josh: around having these high quality images.
14:36
Josh: These are the companies that are responsible for it. There's also Satellogic
14:39
Josh: and Black Sky Technology.
14:40
Josh: Those are the big three when it comes to satellite imagery. And this is something
14:43
Josh: that is real recurring revenue today.
14:45
Josh: They're actively selling products to clients, and they are actually making some
14:49
Josh: money. So this is an interesting category for that reason.
14:51
Ejaaz: I am looking at some of these market caps, Josh, and I'm struggling to understand
14:55
Ejaaz: how random AI startups are worth like 10x more than these companies that are
15:01
Ejaaz: actually building what I believe is going to be very useful and essential infrastructure
15:05
Ejaaz: to building out a space economy.
15:07
Ejaaz: I think primarily it might be because people don't believe the thing is here, that the thing is real.
15:12
Ejaaz: But one of the reasons why we're creating this episode and speaking to you about
15:16
Ejaaz: all of this right now is we believe not only is space a very viable industry...
15:20
Ejaaz: Two, it's going to be gargantuan times or multiples more valuable than the current
15:25
Ejaaz: AI space right now, simply because there are infinite resources and infinite
15:29
Ejaaz: TAM to kind of like extrapolate a lot of this. And it enables AI itself.
15:34
Ejaaz: We're going to be launching data centers and satellites into space.
15:36
Ejaaz: NVIDIA and SpaceX are already working on a radiation-hardened satellites to
15:40
Ejaaz: be able to pull this off, chips to be able to pull this off.
15:42
Ejaaz: So we know that it's going to become a thing.
15:44
Ejaaz: And three, this is going to happen very soon. Like we're going to start to see
15:48
Ejaaz: the fruits of the labor over the next probably year to two years.
15:52
Ejaaz: Last year, the space industry was worth around $626 billion.
15:56
Ejaaz: It's estimated to be multiples more that, especially after SpaceX IPO.
15:59
Ejaaz: So I want people to be able to keep an eye on some of these companies and track
16:02
Ejaaz: their performance. We should have like a limitless portfolio at this point.
16:05
Josh: Yeah. And it's important to understand a lot of this revolves around the Starship
16:10
Josh: program working and getting those highways online.
16:13
Josh: We have Rocket Lab that's working on it. We have Blue Origin that's working
16:16
Josh: on it. the leader in this pack right now is SpaceX.
16:19
Josh: And the moment they start to get the starships working and they get payload
16:22
Josh: in those ships and they're able to launch them on a regular basis,
16:25
Josh: that creates the highways that enable this infrastructure to get into orbit
16:29
Josh: or beyond and then actually start making money.
16:32
Josh: So that unlocks this entire space race. And I think a lot of the concern that
16:36
Josh: people have is on the idea that we're not actually going to be getting enough
16:39
Josh: payload to orbit quick enough.
16:40
Josh: And the reality is that might not be true. And the downstream effects
16:43
Josh: of all this payload getting to orbit are remarkable it unlocks this gigantic
16:47
Josh: industry that people are predicting to grow faster than almost anything on earth
16:50
Josh: and even the ai thesis even the ai play i mean data centers in space man that's
16:55
Josh: going to be a huge market for anyone who wants to put a satellite on one of
16:59
Josh: these rockets and send it into low earth orbit start training ai data centers,
17:02
Josh: There's a huge opportunity and there's a few other categories that you can click
17:06
Josh: through and get into if you're interested.
17:07
Josh: Things like what space infrastructure manufacturing are, legacy aerospace,
17:12
Josh: kind of like Lockheed Martin and Northrop Grumman.
17:14
Josh: It kind of covers all those categories in this artifact. It'll be linked in the description.
17:17
Josh: But the final thing we should mention maybe is just the ETFs in general.
17:21
Josh: If you don't want to pick a specific stock, perhaps you can choose the basket
17:25
Josh: of them. And I believe that there's a few that are publicly available right now.
17:28
Ejaaz: Yeah, so one of my favorite ETFs from this list is the Arc Space Exploration
17:31
Ejaaz: by Kathy Woods, which, by the way, her fund is just involved in everything from
17:35
Ejaaz: Web3, crypto, AI, and space as well.
17:38
Ejaaz: Now, typically when you're investing in space, we covered a lot of companies
17:41
Ejaaz: today. You're probably like, which ones do I allocate to? How much do I allocate to them?
17:45
Ejaaz: These ETFs kind of fix that for you. It's a basket of all the top companies.
17:49
Ejaaz: Some of these baskets focus on a particular category, whether it's space infrastructure
17:53
Ejaaz: or launch infrastructure.
17:54
Ejaaz: And some just cover all categories in its entirety. It will cover launch providers,
17:58
Ejaaz: lunar infrastructure, earth observation, etc.
18:00
Ejaaz: ARK Space Exploration ETF covers things like defense systems,
18:04
Ejaaz: rocket labs, communication, stuff like that.
18:06
Ejaaz: And it's one of the most subscribed and invested in ETFs that we have in this
18:11
Ejaaz: list. But there's some others here, right?
18:13
Josh: Yeah, there's a few others. They're noteworthy. You can go through and click
18:16
Josh: through or you could just take a screenshot of this and just kind of see which
18:19
Josh: ones that you would be most interested in.
18:21
Josh: The final part of this fun little artifact is the portfolio builder,
18:24
Josh: where we can kind of build an emulated portfolio and choose a preset balance
18:28
Josh: in order to kind of guess and estimate what the returns look like.
18:31
Josh: So for example, with every $10,000 say that you invest in this,
18:35
Josh: you can kind of gauge how much you want to allocate to each industry.
18:38
Josh: And then the projected returns based on the conservative amounts of returns,
18:43
Josh: the kind of high targets and the average gains that you could predict based
18:46
Josh: on each industry and the projected gains that investors have been guiding for.
18:51
Josh: I think a lot of this will end up being conservative if it works.
18:55
Josh: If Starship version three does get to orbit quickly, if a lot of these other
18:59
Josh: companies like Blue Origin are being able to rapidly reuse these rockets,
19:02
Josh: we should see this projected portfolio increase far higher. But again, it's risky.
19:07
Josh: These highways don't exist right now. A lot of rockets are still exploding.
19:10
Josh: There is no proof that this is going to work on the timeline that we hope for.
19:14
Josh: But in the case that it does, this is a tremendous opportunity. We are heading outward.
19:20
Josh: We're there is no real market cap on that because of how untapped the potential
19:24
Josh: is. This takes a long time. We're moving atoms instead of bits.
19:28
Josh: Atoms are much more challenging, particularly when you're fighting against the
19:30
Josh: atmosphere of Earth. But I think it's a really noteworthy opportunity that,
19:36
Josh: you should at least be familiar with and understand.
19:38
Ejaaz: So just to recap, space is having a bit of a moment.
19:41
Ejaaz: In the last three weeks, we've had five major events, including filing for a
19:45
Ejaaz: SpaceX IPO, sending humans around the moon, and all of this for a fraction of
19:49
Ejaaz: the cost that it used to cost 53 years ago.
19:53
Ejaaz: Space is now becoming an investable asset as well. There are a ton of companies
19:56
Ejaaz: that are publicly invested in.
19:57
Ejaaz: If there are too many for you to kind of comprehend, there are ETFs that you can look at.
20:01
Ejaaz: We're going to link to this public artifact so you can get access to it and
20:04
Ejaaz: you can do your own research as well.
20:06
Ejaaz: But the point is, I don't think it's a coincidence that AI and space are galvanizing
20:10
Ejaaz: at the same time. They're coalescing, they're overlapping.
20:13
Ejaaz: There's a lot of overlap in the sense that AI data centers in space will need
20:18
Ejaaz: space shuttles in the same way that satellite and broadband access will also
20:22
Ejaaz: rely on the same types of infrastructure.
20:24
Ejaaz: There are a few companies right now that are privately held that are very popular.
20:28
Ejaaz: You've got SpaceX, you've got Blue Origin, but a lot of public companies as
20:31
Ejaaz: well that are building out this essential infrastructure, not just for launch
20:34
Ejaaz: shuttles, but also for communication and many other points.
20:37
Ejaaz: The point is, we think that this industry will be worth well north of $626 billion,
20:42
Ejaaz: which is what its total value was last year. And we look forward to seeing this expand.
20:46
Ejaaz: It is a limitless portfolio that doesn't exist yet, but I kind of want to spin
20:51
Ejaaz: up after this episode, Josh.
20:52
Josh: We're going to just have to start our own portfolio, both for private and public
20:56
Josh: industry, because I feel like we're on it.
20:58
Josh: There's one called Mesh Optical that's really interesting. And all they're doing
21:00
Josh: is just fiber optic cabling for these satellites, for these data centers.
21:05
Josh: And when you really think about the downstream technology required to put these
21:08
Josh: things into space and make them function at the level that we expect them to,
21:12
Josh: there is just a huge amount of peripheral companies that are going to need to contribute to this.
21:16
Josh: And there's a lot of upside for those that can actually do so in a meaningful
21:19
Josh: way. So space as an industry is really exciting.
21:21
Josh: There's plenty of opportunities in the public markets. There are plenty private,
21:24
Josh: and there's going to be a lot more coming down the line.
21:27
Josh: Now, the question is mostly the timeline. How quick is this actually going to happen?
21:30
Josh: How quick are all of these launch companies that sit at the base layer of this
21:34
Josh: infrastructure going to be able to get mass to orbit rapidly,
21:37
Josh: reusably, and for a very low cost per kilogram?
21:40
Josh: We will see, but we will be monitoring it right here on Limitless every day,
21:44
Josh: as we do four times a week.
21:45
Josh: So thank you all so much for listening. EJs, any final thoughts before we let people go today?
21:50
Ejaaz: Yeah, I'm actually curious whether anyone listening to this has thought of a
21:55
Ejaaz: company or knows of a company that we haven't covered right here.
21:58
Ejaaz: One thing that I'm peripherally aware of is there are just so many of these
22:02
Ejaaz: space companies and there are
22:03
Ejaaz: too many to keep track of. So if you've noticed something, let us know.
22:06
Ejaaz: Or if there's an angle or industry that we might be missing out on that might
22:09
Ejaaz: be complementary to AI or space, let us know in the comments.
22:12
Ejaaz: We would love to hear from you.
22:14
Josh: Yeah, well, as always, thank you guys so much for watching. and we will see you in the next episode.
22:17
Ejaaz: See you guys.