The Kook Report - The $ASTS DD

Kook reads the entire $ASTS DD live as AST SpaceMobile counts down to its Batch 2 launch on Falcon 9.In this episode, Kook walks through the full AST SpaceMobile due diligence deck while waiting for the Batch 2 satellite launch, covering everything from the company's founding story to its current valuation regimes. The discussion dives into ASTS stock's de-risking journey, including FCC approval, the Ligado spectrum deal, and partnerships with AT&T, Verizon, and Vodafone. Kook breaks down the direct-to-cell technology, comparing AST SpaceMobile's beam forming and satellite architecture against Starlink's approach, and explores financing history, government opportunities like Golden Dome, and the potential for AI data centers in space.00:00 Introduction and remembering Steve Harrison04:01 Investment thesis and the de-risking story07:19 Winner-take-most and barriers to entry10:42 Founder background: Abel Avellan13:07 Key de-risking milestones and remaining risks15:49 Consensus view vs the variant perception19:46 Lessons learned: SPACs and death spirals23:53 Cap table: who owns AST SpaceMobile27:47 How ASTS stock trades into launches34:56 Sell side estimates and revenue forecasts38:49 Corporate governance and Abel's control41:33 Business model and monetization paths47:31 Modeling the market opportunity50:36 Can the company finance itself55:06 JVs, sovereignty and the J-LEO deal1:00:03 Inside the technology: beams and satellites1:10:47 AST SpaceMobile vs Starlink beam comparison1:16:57 Ligado spectrum deal vs SpaceX's spectrum buy1:23:19 Government opportunity and Golden Dome1:52:44 Launch webcast begins - sign off🎙️ Catch all episodes on Spotify: https://open.spotify.com/show/5u6rTxenTvGw4STNbjswAk👋 Connect with the host on X: https://x.com/thekookreport👕 Get the Gear: https://spacemob.printify.me📩 AST SpaceMobile Podcast Newsletter: https://ast-spacemobile-podcast.beehiiv.com/