1 00:00:00,160 --> 00:00:02,637 Elon, welcome to JP Morgan's 2 00:00:02,720 --> 00:00:07,597 headquarters. You're on the 51st floor, which is about the equivalent of the 3 00:00:07,680 --> 00:00:11,117 nowhere near where you go generally in space, but as high as we can get in New 4 00:00:11,200 --> 00:00:14,557 York City. But before we get started with you and Jamie, we had a very 5 00:00:14,640 --> 00:00:17,037 special guest that wanted to welcome you 6 00:00:17,120 --> 00:00:20,717 here this afternoon. And and so your 7 00:00:20,800 --> 00:00:24,477 mother, May Musk, is here to welcome you. 8 00:00:24,560 --> 00:00:29,517 >> Great. >> May, please stand up. [laughter] I don't think you can see me or 9 00:00:29,600 --> 00:00:32,317 everybody here. >> They can see you. Yes, he can. 10 00:00:32,400 --> 00:00:34,957 >> This is your part. >> I I can't I actually can't see my mom, 11 00:00:35,040 --> 00:00:36,557 but I can hear her certainly. Yeah. 12 00:00:36,640 --> 00:00:37,917 Okay. >> Oh, there you are. Okay. 13 00:00:38,000 --> 00:00:39,917 >> What I'd like to say is when you were 3 14 00:00:40,000 --> 00:00:46,157 years old and I told people I have a genius son, they would roll their eyes 15 00:00:46,240 --> 00:00:49,357 >> and then >> Sure. Understandable. Frankly, [laughter] 16 00:00:49,440 --> 00:00:52,797 >> I knew I knew. And then when you said 17 00:00:52,880 --> 00:00:56,157 you wanted to start with rockets, then I 18 00:00:56,240 --> 00:00:58,637 rolled my eyes. [laughter] 19 00:00:58,720 --> 00:01:02,157 >> And then you did it. And so this is just 20 00:01:02,240 --> 00:01:05,837 a great party here and we celebrating. 21 00:01:05,920 --> 00:01:07,917 >> Sounds we love you so much. 22 00:01:08,000 --> 00:01:10,637 >> Love you too. >> One proud mama. 23 00:01:10,720 --> 00:01:14,957 >> Please. >> So let me Elon, welcome you. It's a 24 00:01:15,040 --> 00:01:17,837 really privilege to have you here on this momentous occasion. It's new for 25 00:01:17,920 --> 00:01:22,077 us, but it's an important thing. the trajectory of American innovation. We're 26 00:01:22,160 --> 00:01:26,157 here live. 3,500 people of our top individual investors around the world in 27 00:01:26,240 --> 00:01:27,997 a 100 branches. There are 350 people 28 00:01:28,080 --> 00:01:32,477 here, 3,500 around the country. This is 29 00:01:32,560 --> 00:01:35,597 a very unique thing, by the way, because Elon has spoken to me about 30 00:01:35,680 --> 00:01:39,677 democratizing finance. This is part of it. Treating individual investors the 31 00:01:39,760 --> 00:01:43,197 same way institutions are treated and hedge funds and all those things. My 32 00:01:43,280 --> 00:01:45,197 view is it's a wonderful thing to do. 33 00:01:45,280 --> 00:01:48,957 Elon, very brave, by the way, because I would never let my mother speak publicly 34 00:01:49,040 --> 00:01:52,397 when I was in the room. God knows what she would have said. 35 00:01:52,480 --> 00:01:53,837 >> I had no idea if she was there. 36 00:01:53,920 --> 00:01:56,397 Actually, [laughter] 37 00:01:56,480 --> 00:02:00,877 >> Elon is the Edison of our time. I remember visiting Elon in Tesla like 15 38 00:02:00,960 --> 00:02:04,957 years ago. A whole new way of building cars, vertical integration, which had 39 00:02:05,040 --> 00:02:08,557 not been anything remote, what our car companies are doing. Now you have 40 00:02:08,640 --> 00:02:11,917 SpaceX. I visited the SpaceX factory in 41 00:02:12,000 --> 00:02:14,077 California and it's exceptional to have 42 00:02:14,160 --> 00:02:16,477 more than 650 rockets. You told me one 43 00:02:16,560 --> 00:02:19,037 today putting satellites in space. You 44 00:02:19,120 --> 00:02:24,237 have 9,000 almost 10,000 Starlite Starlink satellites up there. Starlink 3 45 00:02:24,320 --> 00:02:27,277 is coming which is a whole new generation which hopefully will replace 46 00:02:27,360 --> 00:02:29,277 some of these undersea cables. It's been 47 00:02:29,360 --> 00:02:31,837 an extraordinary 24 years with watching 48 00:02:31,920 --> 00:02:35,357 Elon grow over time and now making a 49 00:02:35,440 --> 00:02:40,637 massive leap into into the future. So, welcome and coming here. Elon, I have 10 50 00:02:40,720 --> 00:02:43,357 questions for you. So, I want to make sure I get to each one. Some of them 51 00:02:43,440 --> 00:02:45,197 came from folks here. They're all 52 00:02:45,280 --> 00:02:48,557 important, but one just to start is why 53 00:02:48,640 --> 00:02:50,557 SpaceX public now? Because you had 54 00:02:50,640 --> 00:02:54,557 choices. You didn't have to. Why now? 55 00:02:54,640 --> 00:02:56,877 >> Yeah. I've been asked for many years 56 00:02:56,960 --> 00:02:59,117 about taking SpaceX public. So, it's 57 00:02:59,200 --> 00:03:04,637 probably been, I don't know, almost 10 years that people have been 58 00:03:04,720 --> 00:03:08,477 suggesting to me that I should take SpaceX public. We've been positive cash 59 00:03:08,560 --> 00:03:10,077 flow for quite a long time. I think 60 00:03:10,160 --> 00:03:13,117 since around 2014 2015 and we've been 61 00:03:13,200 --> 00:03:17,997 self-unding, in fact, in our private equity rounds, they actually have not 62 00:03:18,080 --> 00:03:21,277 been fundraising rounds. They've been liquidity rounds for investors and and 63 00:03:21,360 --> 00:03:24,717 employees because we give everyone at the company stock. And SpaceX has 64 00:03:24,800 --> 00:03:27,117 actually bought back stock in most of 65 00:03:27,200 --> 00:03:29,917 our sort of funding events. So what's 66 00:03:30,000 --> 00:03:32,157 different about now is that it's a 67 00:03:32,240 --> 00:03:34,877 number of things but we are embarking on 68 00:03:34,960 --> 00:03:37,117 a significant growth phase like a 69 00:03:37,200 --> 00:03:39,677 capital growth phase where we're we are 70 00:03:39,760 --> 00:03:44,477 going to put in orbit probably a 100,000 satellites or probably over 100,000 71 00:03:44,560 --> 00:03:48,557 satellites just for communications and these will be the version three and 72 00:03:48,640 --> 00:03:52,557 beyond versus version two and version one that are currently in in orbit. 73 00:03:52,640 --> 00:03:56,157 Version three is, depending on how you count it, 10 to 20 times more capable 74 00:03:56,240 --> 00:04:00,077 than the version two satellite. And there were three chips that the SpaceX 75 00:04:00,160 --> 00:04:03,517 chip design team taped out that are specific to this that are far beyond 76 00:04:03,600 --> 00:04:06,317 state-of-the-art, which means it's it's 77 00:04:06,400 --> 00:04:09,837 100 times more bandwidth than the SpaceX 78 00:04:09,920 --> 00:04:12,477 Starlink system currently offers and 79 00:04:12,560 --> 00:04:17,597 also half the latency because the altitude will be about half altitude. I 80 00:04:17,680 --> 00:04:21,357 think it will actually be the highest bandwidth, lowest latency means of 81 00:04:21,440 --> 00:04:25,917 communicating. And the future with AI and robots is actually going to require 82 00:04:26,000 --> 00:04:29,437 a lot more bandwidth than we currently use. Cuz you can imagine what's the 83 00:04:29,520 --> 00:04:32,157 bandwidth of a human. It's peak bandwidth of a human is a few hundred 84 00:04:32,240 --> 00:04:35,837 bits per second, but but bandwidth of a computer can be a trillion bits a 85 00:04:35,920 --> 00:04:38,557 second. So the appetite for bandwidth of 86 00:04:38,640 --> 00:04:41,277 AI comput AI and robots is going to be 87 00:04:41,360 --> 00:04:43,597 enormous. And then we're also doing the 88 00:04:43,680 --> 00:04:46,637 AI data centers and space which is 89 00:04:46,720 --> 00:04:50,957 another massive capital endeavor but I think it'll be the primary means of by 90 00:04:51,040 --> 00:04:53,117 which AI can be expanded. It's 91 00:04:53,200 --> 00:04:56,477 increasingly difficult to build power 92 00:04:56,560 --> 00:05:00,397 plants on the ground. There are very few people who want a power plant in their 93 00:05:00,480 --> 00:05:03,037 backyard. So if we wanted to say double 94 00:05:03,120 --> 00:05:06,317 the electricity usage of the United 95 00:05:06,400 --> 00:05:10,877 States which is on average about 500 gawatt we would have to build about 96 00:05:10,960 --> 00:05:14,717 twice as many power plants which I don't think people are most communities are 97 00:05:14,800 --> 00:05:16,557 not super excited about that but 98 00:05:16,640 --> 00:05:19,917 actually if we go to space we can go far 99 00:05:20,000 --> 00:05:23,117 beyond the electricity generation above. 100 00:05:23,200 --> 00:05:25,117 In fact, this is going to sound crazy, 101 00:05:25,200 --> 00:05:27,837 but you could actually increase 102 00:05:27,920 --> 00:05:31,357 harnessed energy by a factor of a 103 00:05:31,440 --> 00:05:34,477 million and still be using much less 104 00:05:34,560 --> 00:05:38,317 than a millionth of the sun's energy. 105 00:05:38,400 --> 00:05:41,357 So, current human civilization uses much 106 00:05:41,440 --> 00:05:45,997 less than a trillionth of the sun's energy output, which is humbling to 107 00:05:46,080 --> 00:05:49,837 think about. We're really a tiny when you see the true size of Earth relative 108 00:05:49,920 --> 00:05:52,397 to the sun. We're a tiny dust mode in a 109 00:05:52,480 --> 00:05:55,357 vast darkness. And the sun is enormous. 110 00:05:55,440 --> 00:05:58,157 The sun is 99.8% of all mass in the 111 00:05:58,240 --> 00:06:00,637 solar system. And most of the remaining 112 00:06:00,720 --> 00:06:05,597 2% is Jupiter. Sometimes people ask me, I'm maybe going a little wide ranging in 113 00:06:05,680 --> 00:06:09,517 this answer, but because you just asked me why you're going public now. I'm like 114 00:06:09,600 --> 00:06:13,997 I'm like talking about the sun's out power output. I'm like bit of a 115 00:06:14,080 --> 00:06:18,477 long-winded answer. If I was an AI, you might tell me to, you know, okay, but 116 00:06:18,560 --> 00:06:23,117 also but it is important. Some of these things are important because people 117 00:06:23,200 --> 00:06:24,477 sometimes wonder what's the future of 118 00:06:24,560 --> 00:06:28,157 energy generation. And I can say that it 119 00:06:28,240 --> 00:06:30,797 is absolutely solar power or maybe a 120 00:06:30,880 --> 00:06:33,037 better word for solar power is star 121 00:06:33,120 --> 00:06:36,157 power. It's the power of a star. And the 122 00:06:36,240 --> 00:06:40,797 crazy thing is that burnt all mass in the solar system that was not the sun, 123 00:06:40,880 --> 00:06:43,037 the amount of energy produced by the sun 124 00:06:43,120 --> 00:06:47,997 would still round up to 100%. Because the sun is 99.8% of the mass of the 125 00:06:48,080 --> 00:06:51,437 solar system. Even if you teleported two more Jupiters from another somehow 126 00:06:51,520 --> 00:06:54,637 teleported two more Jupiters from another solar system and burnt them too, 127 00:06:54,720 --> 00:06:56,877 the sun would round up to 100%. It's so 128 00:06:56,960 --> 00:07:00,237 it's very much the sun and you can you 129 00:07:00,320 --> 00:07:02,797 can scale to a million times Earth's 130 00:07:02,880 --> 00:07:07,357 economy in space in terms of harness power which is a good proxy for economic 131 00:07:07,440 --> 00:07:12,077 output and still be much less than a millionth of the sun's energy which is 132 00:07:12,160 --> 00:07:13,837 humbling really to think about how tiny 133 00:07:13,920 --> 00:07:15,677 we are and this is just one star among 134 00:07:15,760 --> 00:07:20,637 many. So I guess the tail it would be 135 00:07:20,720 --> 00:07:25,917 we're embarking on a massive new growth phase and we need capital for that. 136 00:07:26,000 --> 00:07:29,277 Okay. Okay. Number two, 137 00:07:29,360 --> 00:07:33,117 >> another thing is the revenue like I I also feel pretty good about like the 138 00:07:33,200 --> 00:07:37,517 revenue projections but being like like before like revenue was a little 139 00:07:37,600 --> 00:07:43,277 unstable [laughter] but now I feel like the revenue is like much more predictable. 140 00:07:43,360 --> 00:07:44,957 >> Yeah. >> Okay. I learned I always learned 141 00:07:45,040 --> 00:07:47,837 listening to you. I guarantee you. So I 142 00:07:47,920 --> 00:07:52,237 mean you people hear about multilanetary species travel to space one of the most 143 00:07:52,320 --> 00:07:56,077 exciting ideas in human history. Can you explain the bridge that you were you 144 00:07:56,160 --> 00:07:57,757 speak about? I heard you talk about from 145 00:07:57,840 --> 00:08:00,317 the Earth to the moon to Mars. 146 00:08:00,400 --> 00:08:03,437 >> Yeah. Yeah. So, you don't necessarily 147 00:08:03,520 --> 00:08:07,357 have to go through the moon to get to Mars. I just think that we can build a 148 00:08:07,440 --> 00:08:12,637 self-growing city on the moon faster than we could do so on Mars. And and 149 00:08:12,720 --> 00:08:17,037 there's also the potential if you say you want to scale far beyond what you 150 00:08:17,120 --> 00:08:21,837 can do from Earth is that because the moon has no atmosphere and about 16th 151 00:08:21,920 --> 00:08:26,477 Earth's gravity, you can use an electromagnetic accelerator, a rail gun 152 00:08:26,560 --> 00:08:28,717 or mass driver. Basically, you don't 153 00:08:28,800 --> 00:08:32,637 need to use rockets to to to do AI data 154 00:08:32,720 --> 00:08:34,717 centers into deep space from the moon. 155 00:08:34,800 --> 00:08:38,477 You can literally just shoot them like a rail gun type of thing. And you can 156 00:08:38,560 --> 00:08:42,637 manufacture the solar the solar and the radiators solar power and radiators on 157 00:08:42,720 --> 00:08:45,197 the moon from moon materials. That would 158 00:08:45,280 --> 00:08:48,397 allow scaling potentially to beyond 159 00:08:48,480 --> 00:08:52,557 a,000 terowatts a year which is a truly staggering number. Like I think we can 160 00:08:52,640 --> 00:08:55,197 do a thousand I think we can do probably 161 00:08:55,280 --> 00:08:57,357 somewhere around 1 terowatt per year of 162 00:08:57,440 --> 00:09:00,797 AI space compute from earth but we can 163 00:09:00,880 --> 00:09:05,757 do a thousand terowatts or more from the moon. And like I said, we can also make 164 00:09:05,840 --> 00:09:07,117 a moon base. And I think it would be 165 00:09:07,200 --> 00:09:09,757 pretty pretty cool if you could vacation 166 00:09:09,840 --> 00:09:14,397 on the moon. That would be the most epic vacation. Not everybody wants to go to 167 00:09:14,480 --> 00:09:16,557 the moon, but I think a lot of people do. I think it would be pretty pretty 168 00:09:16,640 --> 00:09:20,557 amazing to to obviously provided you could do so safely and and come back 169 00:09:20,640 --> 00:09:23,117 safely and everything. But I think we I think that will be possible in the 170 00:09:23,200 --> 00:09:26,717 future. And then Mars is another step beyond that. That's Mars is a whole 171 00:09:26,800 --> 00:09:31,037 planet and with gravity much closer to that of Earth. And it has a an 172 00:09:31,120 --> 00:09:32,477 atmosphere, albeit with an atmosphere. 173 00:09:32,560 --> 00:09:36,637 And if you warm up Mars, you could one day make Mars like Earth, meaning with 174 00:09:36,720 --> 00:09:40,557 liquid oceans and life and where you could walk outside without a space suit 175 00:09:40,640 --> 00:09:45,117 type of thing. So Mars is I call Mars a fixer upper of a planet, but it's it's 176 00:09:45,200 --> 00:09:48,077 got a lot of potential. >> I mean, let me go to number three, but I 177 00:09:48,160 --> 00:09:51,197 never ever thought you'd be in the hospitality business. 178 00:09:51,280 --> 00:09:55,837 >> Yeah, absolutely. >> We should have moon hotels, don't you think? 179 00:09:55,920 --> 00:09:59,837 >> Yeah. >> Musk hotels. Like >> it could be other actually you think of 180 00:09:59,920 --> 00:10:02,877 us more like we're kind of like the Union Pacific. When they built the Union 181 00:10:02,960 --> 00:10:05,917 Pacific back in the day, people thought they were crazy because like why are you 182 00:10:06,000 --> 00:10:09,997 trying to carry all this all this cargo and people to California? No one's 183 00:10:10,080 --> 00:10:12,957 there. But now California is the biggest state in the country. 184 00:10:13,040 --> 00:10:15,437 >> Yeah. For not for long, but yeah. 185 00:10:15,520 --> 00:10:18,317 >> Yeah. No, admittedly it's self-defeating. Yes. 186 00:10:18,400 --> 00:10:22,237 >> So Starship, you built it. Unbelievable ship. I think it's already had 12 187 00:10:22,320 --> 00:10:27,597 flights I read. But obviously technical technically it's just hard to do. What 188 00:10:27,680 --> 00:10:31,037 was some of the breakthroughs you had that people should know about that they 189 00:10:31,120 --> 00:10:35,597 don't know about? >> We we our webcasts are very good. So I 190 00:10:35,680 --> 00:10:39,917 recommend anyone who wants if they want to learn about Starship SpaceX website 191 00:10:40,000 --> 00:10:44,477 or the any of the Starship live casts are great way to learn about it. But the 192 00:10:44,560 --> 00:10:46,157 really the fundamental breakthrough of 193 00:10:46,240 --> 00:10:48,637 Starship is that it will be the first 194 00:10:48,720 --> 00:10:51,597 orbital rocket that is fully reusable. 195 00:10:51,680 --> 00:10:53,517 So this might sound like an obvious 196 00:10:53,600 --> 00:10:56,077 thing but because in every other mode of 197 00:10:56,160 --> 00:10:58,797 transport whether that's aircraft ve you 198 00:10:58,880 --> 00:11:02,157 know cars bicycles horses you name it 199 00:11:02,240 --> 00:11:06,397 ships these are all we take it for granted that there are reusable an 200 00:11:06,480 --> 00:11:09,757 aircraft journey would be very expensive if you had to throw the plane away every 201 00:11:09,840 --> 00:11:12,157 time and that's how rockets have been in 202 00:11:12,240 --> 00:11:16,797 the past but it's very difficult from a technology standpoint to achieve full 203 00:11:16,880 --> 00:11:20,317 reusability for a rocket. We've got part of the way there with Falcon 9, but 204 00:11:20,400 --> 00:11:23,597 we'll get all the way there with Starship. And once you achieve full 205 00:11:23,680 --> 00:11:25,837 reusability, then it's simply a cost. 206 00:11:25,920 --> 00:11:28,797 It's simply the the cost of access to to 207 00:11:28,880 --> 00:11:31,357 orbit is just the cost of propellant 208 00:11:31,440 --> 00:11:35,917 because now you can reuse all aspects of the vehicle. And the propellant we used 209 00:11:36,000 --> 00:11:39,837 for Starship is liquid oxygen and liquid liquid methane, which is the cheapest 210 00:11:39,920 --> 00:11:42,477 propellant you could possibly get. We 211 00:11:42,560 --> 00:11:43,997 can just literally get oxygen from the 212 00:11:44,080 --> 00:11:47,757 air and methane from natural gas. So the 213 00:11:47,840 --> 00:11:50,237 cost of propellant for Starship will be 214 00:11:50,320 --> 00:11:54,237 less than the cost of jet aviation fuel, 215 00:11:54,320 --> 00:11:56,477 which means that 216 00:11:56,560 --> 00:11:58,477 you should be able to actually send 217 00:11:58,560 --> 00:12:01,917 cargo to space for less than the cost of 218 00:12:02,000 --> 00:12:04,717 cargo on an airplane going on a trans 219 00:12:04,800 --> 00:12:09,037 oceanic trip. >> Really cool. Starlink, another thing 220 00:12:09,120 --> 00:12:11,357 that has been amazing, global 221 00:12:11,440 --> 00:12:16,077 communications. We already mentioned Ukraine. You had mentioned to me that V3 222 00:12:16,160 --> 00:12:19,277 would maybe be able to replace some of these cyber cables which by the way is a 223 00:12:19,360 --> 00:12:23,037 huge security risk for all of us because several have already been cut in the 224 00:12:23,120 --> 00:12:25,997 Baltic Sea. So what's the next view for 225 00:12:26,080 --> 00:12:29,917 Starlink both V3 and maybe V4? 226 00:12:30,000 --> 00:12:33,197 >> Yeah. So the V3 satellite is a a gig and 227 00:12:33,280 --> 00:12:37,117 you can look it up on the internet. As I said it's 10 to 20 times more capable 228 00:12:37,200 --> 00:12:40,717 than V2. It's a very big satellite. In fact it can only be launched on 229 00:12:40,800 --> 00:12:42,397 Starship. It's so it's too big to be 230 00:12:42,480 --> 00:12:44,717 launched on any other rocket on Earth. 231 00:12:44,800 --> 00:12:47,757 So Starship has a 30 foot diameter cargo 232 00:12:47,840 --> 00:12:49,357 bay. 233 00:12:49,440 --> 00:12:52,637 And the the V3 satellites are let's see 234 00:12:52,720 --> 00:12:57,117 they're about 7 m. So about 20 22 23 ft 235 00:12:57,200 --> 00:13:00,157 wide. So very big. They're like the size 236 00:13:00,240 --> 00:13:03,997 of a small bus essentially. And they 237 00:13:04,080 --> 00:13:07,917 there's a bunch of technical details about we have much bigger phase ray 238 00:13:08,000 --> 00:13:12,717 antennas. So, we've got we've got more ground links. We've got more of our 239 00:13:12,800 --> 00:13:16,397 laser. Our satellites communicate with each other with lasers that we developed 240 00:13:16,480 --> 00:13:21,117 and manufacture. So, it's got a lot more lasers and more advanced lasers. It's 241 00:13:21,200 --> 00:13:23,197 also got Wband and Eband. These are 242 00:13:23,280 --> 00:13:25,437 technical details, but it's it's got a 243 00:13:25,520 --> 00:13:29,037 lot of it's trans it's it's like a crazy 244 00:13:29,120 --> 00:13:33,757 orbiting radio station. And >> doesn't a starship do 12 of them or 15 245 00:13:33,840 --> 00:13:35,677 at once? 246 00:13:35,760 --> 00:13:38,557 >> It should be able to do 50. 50. 247 00:13:38,640 --> 00:13:41,917 >> Yeah, because Starship is Starship B3 is 248 00:13:42,000 --> 00:13:45,997 aimed at aiming to do 100 tons to orbit 249 00:13:46,080 --> 00:13:51,437 with full reusability. And then Starship V4, we're aiming for over 200 tons per 250 00:13:51,520 --> 00:13:54,877 mission >> and then being able to launch every hour. 251 00:13:54,960 --> 00:13:59,037 >> Next one, data centers in space. You've been talking about that. Other people 252 00:13:59,120 --> 00:14:02,957 have mentioned it, but obviously it has different technical capabilities. It's 253 00:14:03,040 --> 00:14:06,717 colder up there. It's less vibration, but you also got to get the data back to 254 00:14:06,800 --> 00:14:10,797 the earth by some method. I think you mentioned be lasers in good weather and 255 00:14:10,880 --> 00:14:16,477 bad. And so, how hard is it to do now that you've looked at it for a while? 256 00:14:16,560 --> 00:14:19,037 >> We don't think this is a particularly difficult thing to do. In fact, we think 257 00:14:19,120 --> 00:14:22,717 it's easier than our communication satellites. Quite a bit easier than our 258 00:14:22,800 --> 00:14:26,877 communication satellites. The Starlink V3 communication satellites is an 259 00:14:26,960 --> 00:14:31,357 incredibly complex machine. the AI data center would be much simpler by 260 00:14:31,440 --> 00:14:33,117 comparison because it's really just 261 00:14:33,200 --> 00:14:36,477 solar power plus radiator, some basic 262 00:14:36,560 --> 00:14:40,637 equipment for operating the satellite and and then the laser links which would 263 00:14:40,720 --> 00:14:45,277 connect to the Starlink communication constellation and then back and then to 264 00:14:45,360 --> 00:14:48,797 the ground and it would the connection would happen no matter what the weather 265 00:14:48,880 --> 00:14:52,397 is because once you connect via lasers to the Starlink communication 266 00:14:52,480 --> 00:14:54,957 constellation, the Starink communicates 267 00:14:55,040 --> 00:14:57,517 to the ground with frequencies that are 268 00:14:57,600 --> 00:15:00,637 cloud penetrating. So they in fact even 269 00:15:00,720 --> 00:15:03,277 roof penetrating to some degree. So you 270 00:15:03,360 --> 00:15:07,997 you would always be able to close link with the data centers. Excellent. 271 00:15:08,080 --> 00:15:10,397 Talking about America, one of the big things here we even talked about the 272 00:15:10,480 --> 00:15:13,917 re-industrialization of America for a long time bringing back advanced 273 00:15:14,000 --> 00:15:17,997 manufacturing and now you're talking about building the terra fab building 274 00:15:18,080 --> 00:15:21,277 chip fabs in New York. What what what compelled you to do that now with all 275 00:15:21,360 --> 00:15:24,237 the other things you're working on? 276 00:15:24,320 --> 00:15:26,957 >> We try to So what's the limiting factor? 277 00:15:27,040 --> 00:15:29,677 And the limiting factor, what we see is 278 00:15:29,760 --> 00:15:34,077 the limiting factor is being able to make chips, both logic, memory, and 279 00:15:34,160 --> 00:15:38,077 packaging. It's worth noting that there's not a single high volume 280 00:15:38,160 --> 00:15:40,637 computer memory fab in America right 281 00:15:40,720 --> 00:15:42,957 now. Zero. There's one being built in 282 00:15:43,040 --> 00:15:48,237 Idaho by Micron, but that will not reach volume production till I believe 2028. 283 00:15:48,320 --> 00:15:52,477 And there's some being built in New York, but they are in I think 29 and 30. 284 00:15:52,560 --> 00:15:56,317 And this is a tiny fraction of the memory that's needed. And in fact even 285 00:15:56,400 --> 00:15:59,597 if you take the best [clears throat] case assumptions of the the memory 286 00:15:59,680 --> 00:16:02,717 makers and the logic makers it is not 287 00:16:02,800 --> 00:16:04,557 enough to meet the demand that is 288 00:16:04,640 --> 00:16:07,197 anticipated which is why you're seeing 289 00:16:07,280 --> 00:16:09,757 stocks of micron go to I think 1.2 2 290 00:16:09,840 --> 00:16:12,397 trillion or some quite high number. The 291 00:16:12,480 --> 00:16:16,077 so there's just clearly a need for AI 292 00:16:16,160 --> 00:16:18,237 logic, memory and packaging, AI 293 00:16:18,320 --> 00:16:20,637 computers essentially that is far beyond 294 00:16:20,720 --> 00:16:23,517 what even the best case assumptions of 295 00:16:23,600 --> 00:16:25,997 the existing fabricators can do and 296 00:16:26,080 --> 00:16:29,197 that's why we need to do the tariff. 297 00:16:29,280 --> 00:16:31,597 Yeah, it's seems like essential 298 00:16:31,680 --> 00:16:36,237 otherwise we will not there will not be enough chips. Right. So, I'm going to do 299 00:16:36,320 --> 00:16:38,797 one more on some of the stuff you're building and then a little bit more on 300 00:16:38,880 --> 00:16:41,277 other issues. AI strategy, you've also 301 00:16:41,360 --> 00:16:45,037 bought took Grock inside into SpaceX. 302 00:16:45,120 --> 00:16:46,477 How does that fit into this platform 303 00:16:46,560 --> 00:16:48,957 you're building? 304 00:16:49,040 --> 00:16:52,157 >> Uh, yeah, there's it, you know, so we do 305 00:16:52,240 --> 00:16:55,357 intend with our the SpaceX AI satellites 306 00:16:55,440 --> 00:16:58,877 to allow people to put whatever GPU or 307 00:16:58,960 --> 00:17:01,837 TPU they want. So if Nvidia GPUs can be 308 00:17:01,920 --> 00:17:06,077 put on it, Google TPUs can be put on it, Amazon traniums or any other chips that 309 00:17:06,160 --> 00:17:10,477 people want to put on can be put on. We will also offer our chips in the future 310 00:17:10,560 --> 00:17:14,237 and I think we also want to offer our software our AI software as well in the 311 00:17:14,320 --> 00:17:17,437 future. But but it it will be such that 312 00:17:17,520 --> 00:17:20,957 you can run anyone's AI hardware or 313 00:17:21,040 --> 00:17:23,037 software on the Tesla AI satellite or 314 00:17:23,120 --> 00:17:25,837 SpaceX AI satellites. 315 00:17:25,920 --> 00:17:31,037 Yeah. All right. So the next So the next three are completely 316 00:17:31,120 --> 00:17:33,597 different. I'm going to mention each one. I'll each ask you each one, but 317 00:17:33,680 --> 00:17:38,077 one's about his view of patriotism, his service to this country. One's about 318 00:17:38,160 --> 00:17:41,037 culture and bench. How do you actually build these wonderful companies? Because 319 00:17:41,120 --> 00:17:45,357 a lot of people here have that those issues. And then kind of leadership 320 00:17:45,440 --> 00:17:48,317 about I have a very specific question about that. But first, I'll start with 321 00:17:48,400 --> 00:17:49,677 patriotism. You've served this country. 322 00:17:49,760 --> 00:17:53,437 I know you're a patriot. We've spoken about it. How do you view your role of 323 00:17:53,520 --> 00:17:55,437 being an American patriot helping the 324 00:17:55,520 --> 00:17:57,757 United States? 325 00:17:57,840 --> 00:18:00,477 Yeah, I'm incredibly pro-American. So, 326 00:18:00,560 --> 00:18:04,317 and frankly, always have been. So, 327 00:18:04,400 --> 00:18:07,997 yeah. So, SpaceX does do a lot of work 328 00:18:08,080 --> 00:18:11,837 for the what used to be called the Department of Defense, the Department of 329 00:18:11,920 --> 00:18:16,157 these days. The we have a division called Star Shield, which provides 330 00:18:16,240 --> 00:18:20,877 military communications and and there's some other stuff that's kind of 331 00:18:20,960 --> 00:18:22,717 classified. can't be talk can't talk 332 00:18:22,800 --> 00:18:26,237 about that but we are helping the 333 00:18:26,320 --> 00:18:28,717 department award and Intel part of the 334 00:18:28,800 --> 00:18:31,677 government I'm a vital element of that 335 00:18:31,760 --> 00:18:36,237 so yeah I'm I was yeah just super pro 336 00:18:36,320 --> 00:18:40,157 America always have it >> thank you culture bench Brett been with 337 00:18:40,240 --> 00:18:42,957 you for 15 20 years I know you've built 338 00:18:43,040 --> 00:18:46,477 a huge bench in SpaceX how do you keep 339 00:18:46,560 --> 00:18:52,080 it going what's important to you how do you make sure you keep the best talent 340 00:18:52,720 --> 00:18:56,077 Yeah, when was I think around the seventh person to join the company and 341 00:18:56,160 --> 00:19:00,077 that was 2002. Uh, so it's been like 24 years and 342 00:19:00,160 --> 00:19:02,637 generally the senior executives at the 343 00:19:02,720 --> 00:19:04,797 company have a very long tenure. I think 344 00:19:04,880 --> 00:19:07,757 Brent Johnson's been CFO for 15 years. 345 00:19:07,840 --> 00:19:12,637 And yeah, like we I think because people really believe in the mission, I think 346 00:19:12,720 --> 00:19:15,917 they want to stay and they want to keep building it. Like we we want to make 347 00:19:16,000 --> 00:19:18,397 humanity a space bearing civilization. 348 00:19:18,480 --> 00:19:21,117 We want to take humanity to Mars and the 349 00:19:21,200 --> 00:19:25,837 moon and ultimately beyond. We want to make it's like science fiction. Make it 350 00:19:25,920 --> 00:19:29,117 real. Go to places that have never been explored before. 351 00:19:29,200 --> 00:19:32,237 >> Make Star Trek real. >> That was one of my favorite shows. 352 00:19:32,320 --> 00:19:34,557 >> Yeah. >> Excellent. And then last one. You've 353 00:19:34,640 --> 00:19:39,597 built multiple companies. How have you changed from maybe 20 years ago? I 354 00:19:39,680 --> 00:19:42,637 should maybe I should ask you guys, how have you changed from like when you 355 00:19:42,720 --> 00:19:45,997 started to today? Lessons you've learned? How you've changed both as a 356 00:19:46,080 --> 00:19:48,397 leader and as a person? 357 00:19:48,480 --> 00:19:51,517 I think I'm probably more chill than I 358 00:19:51,600 --> 00:19:56,317 used to be. So I I was probably a little I'm way more laidback than I used to be, 359 00:19:56,400 --> 00:19:59,837 which I'm still not that laid-back, but but more than I used to be, for sure. 360 00:19:59,920 --> 00:20:01,997 And one one of the things I found over 361 00:20:02,080 --> 00:20:07,277 time, and I've mentioned this before, is that in terms of recruiting people to 362 00:20:07,360 --> 00:20:10,237 the company or having people work at the company, it their individual abilities 363 00:20:10,320 --> 00:20:15,197 and their intellectual capabilities matter a lot, but also it also matters 364 00:20:15,280 --> 00:20:17,117 if they have a good heart. It's like 365 00:20:17,200 --> 00:20:20,317 it's not just about whether somebody has 366 00:20:20,400 --> 00:20:24,477 a certain IQ or whatever, but just are they're a good person that matters a 367 00:20:24,560 --> 00:20:28,637 lot. I guess I don't know. I guess I've learned a lot. Although I feel like I 368 00:20:28,720 --> 00:20:32,637 still have a lot to learn and make a lot of mistakes. But I I think maybe the 369 00:20:32,720 --> 00:20:34,717 future AI will say not bad for a human. 370 00:20:34,800 --> 00:20:38,957 >> Listen, I before we thank Elon for coming, I just want to thank him. just 371 00:20:39,040 --> 00:20:44,157 watching him build companies and I can't wait to watch the next 10 or 15 years 372 00:20:44,240 --> 00:20:47,837 about what you accomplish and what you dream of and getting to Mars and 373 00:20:47,920 --> 00:20:51,277 building new businesses and being creative. So Elon, I want to thank you 374 00:20:51,360 --> 00:20:54,957 behalf of everybody for coming here sharing your ideas. There are brochures 375 00:20:55,040 --> 00:20:56,957 out there about the whole SpaceX thing. 376 00:20:57,040 --> 00:20:58,797 But Elon, thank you. 377 00:20:58,880 --> 00:21:01,117 >> Thank you. Thanks for having me. 378 00:21:01,200 --> 00:21:04,157 >> I will say that we are exactly one month 379 00:21:04,240 --> 00:21:09,560 away from the 4th of [music] July and