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you think they’re going to go well it’s

been a it’s been an incredible success I

would I would never bet against a long

in anything so I think that’s sort of

you know hard hard rule number one um

it’s probably you know if you sort of

ask what is it that the innovation

what’s what’s been the innovation in

SpaceX or Tesla on the many different

forms innovation takes the most common

one we’re used to is sort of you launch

something and then you iteratively

improve it sort of this continuous

improvement model we occasionally have a

modality of innovation we have a big

brilliant breakthrough like maybe

Bitcoin where Sony who worked on it in a

closet for 10 years and then release

this amazing discovery to the world but

I think there’s another modality of

innovation that’s that’s very underrated

is what I described is complex

coordination where you just take a lot

of different pieces and the innovation

is to combine them in a new way so if

you ask what is new about SpaceX rockets

or Tesla cars you know all the

components already existed at least in

the initial designs and the critical

thing was to pull them all together in a

in a new form and and that sort of

vertical integration on you know is

somewhat capital intensive which is why

it’s quite hard to get it financed but

it’s done very little and and so and

then once it’s done it’s something that

tends to get underrated I think Apple

Apple’s iPhone the first smartphone that

really worked is another example of

complex coordination and when

people as you know people write

biographies on jobs it’s like well he

was a jerk and that’s that’s the most

interesting thing and what would really

is interesting is how was he able to

motivate all these people to build this

completely new product and it was that

you could you could do something

incredible not by inventing any specific

thing that was new but bringing all the

pieces together in just the right way

and that’s that’s what the iPhone

represented

that’s what Tesla represents with cars

or or SpaceX with rockets and what is

the no pun intended the trajectory of

SpaceX do you think because he’s now

gotten you know to space many times

gotten to the space station many times

and he’s almost landed the reusable

rocket he’s tried twice and it’s it’s

what it’s apparent he’s going to get it

and that’s truly innovative yes well I

think I think I think having built this

vertically integrated rocket company

it’s now possible to innovate on that in

ways that we much harder if you had this

super complicated subcontract or sub

subcontractor system where all the

components are bespoke and you can’t

innovate on the whole thing so having

integrated all the pieces you can

innovate if they if they get to