Ben Gilbert: uncertainty

Transcript context

…They might be, it might be more. We know that they expect to put $10 billion worth of CapEx into it, both from that's CapEx funded by cash flow from other projects within SpaceX. A lot of the primary capital that they've raised recently has been for Starlink. I don't know. Would it be reasonable to put $10 billion of CapEx into something if you didn't think you could generate $30 plus billion in revenue out of it? That's a good point. I haven't seen the pitch deck, but I'm sure it says something like that. Not to mention, they'll continue to pull away in the launch market. Falcon 9 is just a workhorse and an amazing business of doing these launches. For the next 3-4 years until they really have Starship humming, if they can actually take up to a month, they'll do $1.4 billion a year in revenue just from the Falcon 9 launches. I don't know what kind of multiple you want to apply to that or if we should figure out actually what the EBITDA margin is and do it that way. Yeah, it's good business. All right. We should move to the F case.…

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