Hi guys, so how many of you are space geeks? Anybody? I see lots of hands. Yeah, I was, I was, I never actually intended to get into the space industry. The only thing I ever knew I wanted to do in life was race cars, but then in college I got into it. And it was because of all the inspiring things that I saw when I was a kid, like people going to the moon. I sat on my grandfather's lap when I watched the first man step on the moon. And because of happenstance in college I ended up going to the space industry. And I watched over the years as things degraded and we weren't doing as much and I left it about 10 years ago. I went back into automotive, but guess what? Things have changed and I'm back because things are different now and it's different because of entrepreneurs like you and it's different because of the new thinking and new generation of people that are getting involved with it and the kind of money that's coming into it. So I like to say that a new space race is here and we're at Vector is a company I formed a couple of years ago to start participating in what I think is a massive revolution in space. So what we're, what we're really fueled by is something that I call the micro satellite disruption. So it used to be in the old days when I first started in the business the satellites were the size of a car and they cost hundreds of millions of dollars took years to build in your career. You could hope to build maybe one or two and if you had a failure it was a dismal part of your career. Now satellites are something you can hold in the size of your hand and they might cost tens of thousands of dollars and could be developed in months. So that's fundamentally changed the dynamics of the space industry is drawn in investor dollars who are willing to take risks on new ideas that people have and is drawn in a whole new generation of people. So it's made really this space race come true. The problem is though that how to get those satellites into orbit is really a problem right now. The existing options are dismal what what people who build these micro satellites are reduced to is putting them essentially in the trunk of a car in other words on a big rocket and launching along with a whole bunch of other satellites. If you could imagine sharing your house with 10 other families that's kind of the equivalent of what happens. So in vector what we set out to do is to lower the barriers to space access so that people like yourselves can get both your hardware up there and eventually get your ideas up there. We have a two part business strategy to start with a high launch rate using very very small launch vehicles and then eventually we're building a constellation of software defined satellites that you can program like you would a cell phone with apps. And that that instead of having to go through all the trouble of building the satellite and launching it you'll just have to get on your terminal and program it and you can get access to it. So think of it as an applications cloud in space and what happens is if you reduce the size of a rocket from a really large scale to a really small scale you get a huge reduction in costs. Well on the left you can see our little vector H and vector R that we're building compared to the rockets that went to the moon and you can see what some of just basil says building there. The thing that happens is as we reduce the cost by orders of magnitude so we've gone from about a billion and a half dollars launch for some of the moon rockets down to about one and a half million for our rockets. It's a fundamental change of the way we can access space once we do these sort of things to do this we've got two launch vehicles we have what we call the the vector R for rapid and the vector H for heavy that's a tongue in cheek everybody's got to have a heavy rocket so these are about 11 12 meters tall they're very small rockets but the key is that they can launch micro satellites and they're they're built to address that market. So the thing that's very different about these rockets is we're going to build them in large numbers I mentioned that I went into automotive for about a decade and what we're doing is we're bringing that technology in that and that basic industrial capability to rockets. Somebody else very famous said recently he's taking rocket or rocket technology to cars we're doing the opposite to mass produce these rockets so this has never been done before and will be producing and flying these rockets by hundreds what that allows us to do is make the rockets cheaper and we actually make more profits so everybody wins on this and there's nothing new you have to invent here in 1923 Henry Ford made the model T just like this so we like to think of this as the model T of rockets. And what this also allows us to do is what I call making rockets like sausages we can franchise out this manufacturing to places all over the United States and eventually all over the world so we can have assembly plants closer to where the customers are and that's exactly our plan is to start the United States and eventually franchise some of these manufacturing operations to places like Europe. So you really don't have to invent anything new if you look at how rockets are made today SpaceX I'm sure all of you are familiar with the Falcon Marvelous vehicle but they're only made by the tens a year and the reason that they're reusable is so that they can get the flight rates up because they can't produce enough of them in their factory. They don't have enough people and the factory is not big enough they sort of cap out at about 10 a year so if you reuse the first stage that gets your flight rates up to about 20 a year we're talking about emulating the modern automotive manufacturing techniques to get our launch rates up into the hundreds a year. So this is a little bit like the transition for example of Mauser-Oddy in the 60s they were hand built where Luigi would take and take the parts to the vehicle it was one person one vehicle and now in modern days if you go through some of those factories they're on a on a moving machine and the vehicles are assembled in a assembly line kind of way. So what this will do if we can accomplish hundreds a year is it creates a transportation model that's different than it's been at 10 or 20 a year anybody the fly satellites will tell you that's one of their biggest risks is getting a ride to space but if you had to do the same thing with flying on airplanes you wouldn't go very far I wouldn't be here in Finland. So what we're trying to do is develop a transportation model that's a much more reliable schedule or reliable cost that the entrepreneurs can count on that they know that will be there in the years ahead in the decades ahead to be able to put their assets in space. And so we in the two years since we've been in business we we start off by purchasing a company that had been doing this for a while and we we've been making a lot of progress in fact I think we've made more rapid progress in anybody else in the industry if you if you plot it out this is our first flight which we did in the desert of a full scale vector are in in May and just for fun we parked a drone over the top of it. Sorry I'll go back to that one. Let's see if it goes we we parked a drone over over this it's not working. Forget it so yeah that's the second flight that we did in in Camden Georgia you can see it. Everybody's got to have a little bit of rocket noise there so we flew this to some orbital altitude and recovered it out of the jungle it was proof that our systems could work and that we we had a gradual incremental development approach. So we've we've continued to build these vehicles our first flights to orbit are going to be this July coming up and this is at wall flight facility where our first flights will be in Virginia right now they're sending. Payloads to both of the moon and the space station from here and we'll be joining the ranks of people that fly out of there we're going to launch in a lot of different places in the US out of Alaska out of Florida out of wall ups and probably out of California eventually you might even be long. Off of barges this is this is essentially key to us being able to launch hundreds of years to have multiple. Lensites and when we go there we don't have an infrastructure we have to drag behind us we go there we set up on a concrete pad as you can see in the desert we did it from a dirt dirt pad that worked out very well. We're building a factory in Tucson Arizona now we just awarded a contract this last week to a contractor and this will be a factory that's capable of building hundreds of these a year will break ground very soon and have that up and running by early twenty twenty eighteen twenty nineteen. So what we're looking at then if we can accomplish this is transforming today what is a very hardware centric expensive industry into something the software centric if you look around here at slush what you see is an innovation that's based a lot on software and so a lot of a lot of you who are sitting in the audience and a lot of people here at slush understand how to make software and understand how to be innovative with it that's really what we have to do to the space industry. To the space industry to make it more innovative to bring it to more people is to do that and what between our launch vehicles in our galactic sky constellation we believe that we can we can make that happen. So thank you very much I appreciate the opportunity to talk to you.