The DownLink Podcast

Space Money: Lunar Excitement And SpaceX’s “Crazy Pants” Valuation Artemis II is on its way to the Moon — the first crewed lunar mission in more than 50 years. Private credit is flashing warning signs, and SpaceX just filed for the largest IPO in history. The numbers, as one guest puts it, are "crazy pants." Laura Winter speaks with The DownLink regulars Chris Quilty, founder of Quilty Space; and George Pullen, Partner and Chief Economist at MilkyWayEconomy.

At SatShow 2026 many government and business leaders admired the “incredibly dynamic” changes and the new challenges in the marketplace and investing. But what do they need to do to compete and thrive in it? Laura Winter speaks with Frank Backes, President, Space Information Sharing and Analysis Center (Space-ISAC), former CEO, Capella Space, just recent President, IonQ Quantum Infrastructure.

It’s “Advocacy Season” on Capitol Hill. The 30th “March Storm” — organized by the Alliance for Space Development — seeks better terms for space start-ups and venture capital investors ahead of the SPaceX IPO. Laura Winter speaks with Peter Garretson, a Senior Fellow at the American Foreign Policy Council, who is also the author of three books, the latest of which is “Space Shock: 18 Threats That Will Define Space Power”; and Aaron Oesterle, Policy Director at the Space Frontier Foundation.

Three years after the U.S. Space Force established the West Scholars program at the Johns Hopkins University School of Advanced International Studies (SAIS), the Pentagon is killing this highly tailored and unique space-minded Senior Professional Military Education fellowship, along with other graduate-level opportunities at 21 other universities and think tanks. Laura Winter speaks with Joel Mozer, the first United States Space Force Director of Science, Technology and Research; and Lamont Colucci, Director of Concordia University’s National Security and Space Center, and the United States Space Force’s inaugural Director of Doctrine Development.

The wake of the U.S.-led bombing campaign of Iran - Operation Epic Fury - has rattled markets around the world and inspired some public equity investors to adjust their positions and to more critically assess space companies with a speculative return on investment. Laura Winter speaks with Lou Whiteman, a space investor and a Motley Fool stock analyst covering aerospace and defense. d96efi5C1HZHLj1w3HtQ

Paris-based Skynopy’s virtual Ground Station As A Service promises of faster data speeds and a network of partner ground stations has earned it contracts with AWS, Eutelsat, Airbus, and the French Defense Innovation Agency’s Aerospace Lab. Laura Winter speaks with Pierre Bertrand, co-Founder and CEO of Skynopy.

While the Supreme Court has ruled that President Donald Trump’s use of the 1977 International Emergency Economic Powers Act to impose tariffs is unconstitutional, experts warn that the administration has other means to extract from American businesses and consumers what would amount to import taxes. Space businesses are not immune, but they do have opportunities to shield their bottom lines. Laura Winter speaks with Bailey Reichelt, Founder and Attorney at Aegis Law; and Nick Baker, Managing Director of Transfer Pricing practice, and co-Lead of the Trade and Customs practice at Kroll.

This week U.S. President Donald Trump met with Israeli Prime Minister Benjamin Netanyahu to speak about how to curb Iran’s nuclear ambitions. This episode explores recent space-related developments in Israel, Iran, and more generally the rest of the Middle-Eastern region. Laura Winter speaks with Lawrence Rubin, co-director of the Georgia Tech DC Program and an associate professor in the Sam Nunn School of International Affairs.

Space Money: The Space Force Budget And A New Leader by The DownLink

Australia and the United States have been close allies for more than seven decades, but with the old rules-based world order disappearing, Australia needs to shape and fund its national defense and space ambitions to fit the times. Laura Winter speaks with Malcolm Davis, a Senior Policy Analyst at the Australian Strategic Policy Institute, who focuses on space policy, security, strategy, and capability development.

While President Donald Trump cites the Golden Dome missile defense shield program as the reason for seeking sovereignty over Greenland, congressional appropriators complain they have too little knowledge on the program’s progress. It’s been 12 months since the presidential executive order kicked-off the Golden Dome effort. Laura Winter speaks with Todd Harrison, a Senior Fellow at the American Enterprise Institute, and Washington, D.C.’s favorite defense budget Yoda.

Traders and investors are feeling whipsawed this week, but those who hold notes in space companies are seemingly immune. Space companies, especially infrastructure business cases, are seeing steady and huge gains in value. Laura Winter speaks with The DownLink regulars Chris Quilty, founder of Quilty Space; and George Pullen, Partner and Chief Economist at MilkyWayEconomy.

Ground stations, built by proxies of China’s People's Liberation Army and Russia’s Roscosmos, can be found across Latin America, including three on Venezuelan military bases. Recent operations in and around Venezuela demonstrate that these strategically important adversarial space assets are now in the cross-hairs of the Trump Corollary. Laura Winter speaks with Namrata Goswami, Professor of Space Security, Schriever and West Space Scholars Program, Johns Hopkins University, and co-Author of the book “Scramble for the Skies: The Great Power Competition to Control the Resources of Outer Space”.

President Donald Trump issued a course-setting presidential executive order on Thursday that looks more like the national space strategy for which many, in and out of government and across a myriad of space-related sectors, have been waiting. Laura Winter speaks with Peter Garretson, a Senior Fellow at the American Foreign Policy Council, who is also the author of three books, the latest of which is “Space Shock: 18 Threats That Will Define Space Power”.

At the Space Force Association’s Space Power Conference, major announcements were few, but there were clues pointing to imminent strategic developments. Laura Winter speaks with U.S. Space Force Col. (ret.) Charles Galbreath, Director and Senior Resident Fellow for Space Studies at the Mitchell Institute’s Spacepower Advantage Center of Excellence (MI-SPACE).

The CEO of Muon Space predicts that artificial intelligence coupled with laser communications “ could ultimately become entirely transformative on blowing open things like the earth observation market.” Laura Winter speaks with Jonny Dyer, CEO and co-Founder of Muon Space.

This week German Chancellor Friedrich Merz’s cabinet approved a whole-of-government strategy to be ready for war in space. This announcement and strategy comes just 55 days after German Defense Minister Boris Pistorius announced that Germany is going to spend roughly $41 billion dollars to develop offensive and defensive on-orbit capabilities. Laura Winter speaks with Torsten Kriening, CEO and Publisher of SpaceWatch.Global, and host of the Space Cafe podcast.

The Department of Defense roll-out of the new Cybersecurity Maturity Model Certification (CMMC) Program has far-ranging implications for the defense industrial base, including the space sector, that includes all prime contractors and sub-contractors. Laura Winter speaks with US Air Force Retired Col. Steven Shirley, the Executive Director of the National Defense ISAC, and former Executive Director of the DoD Cyber Crime Center (DC3).

While the U.S. government remains shut and the NASADQ is getting hammered, Chad Anderson of Space Capital, a seed-stage venture capital firm that invests exclusively in space-based technologies, says the space market “has fundamentally matured”. Laura Winter speaks with Chad Anderson, CEO, Founder, and Managing Partner of Space Capital.

This week’s guest says, “ The purpose of science and technology research, in the military, is to make the fight unfair.” So what’s standing in our way? Laura Winter speaks with Richard Joseph, the 36th Air Force Chief Scientist, who has a CV that includes the Strategic Defense Initiative, the White House Office of Science and Technology Policy, Los Alamos National Laboratory, and NASA.

Could pre-positioning mission-critical cargo in Low Earth Orbit, to be summoned and sent to a place and time of the U.S. military’s choosing, in under an hour, solve logistical bottlenecks in times of need? Inversion Space and its investors are betting on it. Laura Winter speaks with Justin Fiaschetti, Inversion Space’s Co-Founder and CEO.

German Defence Minister Boris Pistorius wants to spend €35B, or $41B, on space assets and technologies, including satellites with active defense capabilities. This is huge. Laura Winter speaks with Antje Nötzold, a Senior Researcher at the University of the Federal Armed Forces; and Torsten Kriening, CEO and Publisher of SpaceWatch.Global, and host of Space Cafe podcast.

Space investing is enjoying “positive sentiment”, with many publicly traded space stocks enjoying higher valuations. What’s behind these financial and economic trends and where are the weak points? Laura Winter speaks with The DownLink regulars Chris Quilty, founder of Quilty Space; and George Pullen, Partner and Chief Economist at MilkyWayEconomy.

There’s no Golden Dome requirements shopping list yet, but with an expected $40 billion for FY 2026 the U.S. Space Force Chief of Space Operations is thinking about how to spend now for the fight tonight and what will be needed by 2040. Appearing in this episode from the Air, Space, Cyber conference are Secretary of the Air Force Troy Meink, Chief of Space Operations Gen. Chance Saltzman, Commander, Space Systems Command Lt. Gen. Philip Garrant. Laura Winter breaks it down with Todd Harrison, a Senior Fellow at the American Enterprise Institute.