The DownLink Podcast

While operating on the brink of a government shutdown has become the not-so-new normal, a fresh take on the Space Force's FY 2027 budget request shows the service branch's plan to normalize real growth through dramatic, yet targeted, programmatic increases. Laura Winter speaks with Sam Wilson, Director of Strategy and National Security, Center for Space Policy and Strategy, The Aerospace Corporation.

Companies rarely know how a military is using their satellites — and that blind spot could quietly turn commercial infrastructure into a legitimate target, putting the civilians and humanitarian workers who depend on that same infrastructure at risk. The International Committee of the Red Cross calls it a "knowledge gap." Laura Winter speaks with two representatives from the ICRC Regional Delegation for the U.S. and Canada — Jonathan Horowitz, Deputy Head of the Legal Department; and Laura Walker McDonald, Senior Advisor for New Technologies and Conflict.

SpaceX posted its first earnings report as a public company this week, the same week its first share unlock hit the market, more than doubling the float. Elon Musk says revenue will top $1 trillion by 2030, but the plan is murky. Laura Winter speaks with Chris Quilty, Founder and CEO of Quilty Space, George Pullen, Chief Economist at MilkyWayEconomy, and Lou Whiteman, Stock Analyst at The Motley Fool.

China's on the cusp of truly competing with SpaceX with a reusable rocket, while it supplies Iran and Russia and Xi Jinping purges another of the nation's space heroes. Laura Winter speaks with Malcolm Davis, Senior Analyst, Defence Strategy Program, Australian Strategic Policy Institute, and Brendan Mulvaney, Director, China Aerospace Studies Institute, Air University.

The fact that the Chinese Coast Guard attacked Philippines vessels in three separate confrontations this week, may illustrate why the Space Force needs Guardians trained and equipped under Title 10 authorities to secure U.S. interests in orbit and on the Moon. Laura Winter speaks with retired Lt. Gen. Joseph "Gus" Guastella, former commander of U.S. Air Forces Central Command, now Executive Vice President of National Security, at Voyager Technologies; and retired Space Force Col. Charles Galbreath, Director of the Mitchell Institute's Spacepower Advantage Center of Excellence.

Lt. Gen. Douglas Schiess is on track to become the Space Force's third Chief of Space Operations after a 44-minute confirmation hearing. Who is Schiess, and how has the CSO role evolved? Laura Winter speaks with retired Air Force Col. Jennifer Reeves, Senior Resident Fellow at the Mitchell Institute, and retired Air Force Col. Patrick Donley, Director of the Air & Space Forces Association's Doolittle Leadership Center.

Save the eye-roll. There really are contracts and places where words "resilient" or "resiliency" drive the communications mission. Laura Winter speaks with Dr. Rajeev Gopal, Vice President of Advanced Programs, Hughes Defense.

Rocket Lab is acquiring Iridium for $8 billion. Honeywell split in two. Driven by SpaceX, the first half of 2026, especially the second quarter, delivered a remarkable wave of high-value space business activity in the public and private markets. Laura Winter speaks with Chris Quilty, Founder and CEO of Quilty Space, and Lou Whiteman, aerospace and space analyst at The Motley Fool.

With a NATO Summit two weeks away and Washington pressing allies to take on more, Air Marshal Paul Godfrey explains how a year of executing the U.S. Space Force's International Partnership Strategy is turning allied integration from plan into practice. Laura Winter speaks with Air Marshal Paul Godfrey, RAF, Assistant Chief of Space Operations for Future Concepts and Partnerships, U.S. Space Force.

The SpaceX IPO didn't create the appetite for space investment — it revealed it. Laura Winter speaks with Kevin O'Connell, Founder and CEO, Space Economy Rising; former Director, Office of Space Commerce, U.S. Department of Commerce.

SpaceX went public on June 12, 2026, in the largest IPO in history, valuing the rocket, satellite broadband communications, and AI company at $1.77 trillion. Laura Winter speaks with Chris Quilty, Founder and CEO of Quilty Space, George Pullen, Chief Economist at MilkyWayEconomy, and Lou Whiteman, stock analyst at The Motley Fool.

"Without rockets, nothing is going to happen." In the five years since Taiwan's Space Development Act, that island has started to build-out satellite constellations, a launch site, and has just received its first-ever invitation from NASA to contribute directly to the Artemis lunar program. Deterrence and remaining independent from the PRC is also a driver. Laura Winter speaks with Dr. Wu Jong-Shinn, Director General, Taiwan Space Agency (TASA).

Citing China’s possible mission to send Taikonauts around the moon, NASA Administrator Jared Isaacman told AIAA's ASCEND conference attendees that the launch cadence to the moon must increase. Laura Winter speaks with Clay Mowry, CEO of the American Institute of Aeronautics and Astronautics (AIAA) and immediate past president of the International Astronautical Federation (IAF).

Space-based solar power promises clean, dependable energy beamed from orbit to Earth — but does the business case close? That debate starts here. Laura Winter speaks with George Pullen, Chief Space Economist, Milky Way Economy; Martin Soltau, Co-Founder and Co-CEO, Space Solar; and Richard Winslade, Chief Financial Officer, Space Solar.

Russian satellites recently maneuvered to within three meters of each other in low Earth orbit — a stark reminder that space is a warfighting domain and that the race to build resilient satellite constellations has never been more urgent. Lockheed Martin subsidiary Terran Orbital is building the satellite buses for the Space Development Agency's missile-tracking architecture — one tranche at a time. Laura Winter speaks with Peter Krauss, President and Chief Executive Officer, Terran Orbital.

The White House has nominated Lieutenant General Doug Schiess to become the third U.S. Space Force Chief of Space Operations. This nomination comes at a critical juncture, as allies race to develop sovereign space capabilities to reduce — or altogether avoid — dependence on the United States and its commercial service providers. Laura Winter speaks with Pacôme Révillon, CEO of Novaspace.

The Trump Administration is asking Congress to more than double the Space Force budget — but with billions flowing to classified programs and a missile defense shield still under development, the real question is whether this is a strategy or a very expensive bet. Laura Winter speaks with Todd Harrison, Senior Fellow, American Enterprise Institute, and much respected NASA and Defense Department budget diviner; and Sam Wilson, Director, Strategy and Program Support, Center for Space Policy and Strategy, at The Aerospace Corporation.

The U.S. Space Force revealed what it thinks could be the threats, where those threats are located, and what it will need by 2040. The revelations will not only serve the service branch, but should guide C-suites, entrepreneurs, investors, and technologists for years to come. Laura Winter speaks with Joel Mozer, the first Chief Scientist of the U.S. Space Force; and Peter Garretson, Senior Fellow in Defense Studies at the American Foreign Policy Council and author of three books on space power, the latest of which is "Space Shock: 18 Threats That Will Define Space Power."

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.

Finally, the U.S. Congress passed and U.S. President Donald Trump signed off on the U.S. Space Force’s $26 billion 2026 budget. And, the Space Force Association has a new CEO. Laura Winter speaks with U-S Air Force Brigadier General (Ret.) Damon Feltman, CEO, Space Force Association (SFA), who was the Mobilization Assistant to the Deputy Chief of Space Operations, Strategy, Plans, Programs, Requirements, and Analysis; and with Steve Jordan Tomaszewski, Vice President of Space Systems at the Aerospace Industries Association (AIA).

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.

Representatives from Australia’s burgeoning quantum technology sector are making the rounds, meeting with venture capitalists, U.S. companies, as well as state and federal government officials. Among the subjects discussed are defense, space, and opportunity. Laura Winter speaks with Martin O’Connor, COO, QuantX Labs; Jim Rabeau, CEO and Co-Founder, Deteqt; and Daniel Hunter, Partnership Development Manager, Quantum Australia.

Nigeria, the most populous African nation, has the continent’s third largest standing military and fourth largest economy. The West African nation operates four sovereign satellites and has ambitions to become a space economy leader and space technology exporter. Laura Winter speaks with Nigerian Communications Satellite Ltd. (NIGCOMSAT) CEO and Managing Director Jane Egerton-Idehen.

Artificial Intelligence will be necessary for Golden Dome, or Next Generation Missile Defense, to work, but how, and for what exactly? And what about the humans? Laura Winter speaks with Alexander Kott, an early AI researcher and the Chief Scientist of the Army Research Laboratory from 2016 to 2023.

When then presidential candidate Donald Trump made a promise to create a Space National Guard, he received a standing ovation. Now 12 months later, that promise is broken, with far reaching and costly effects. Laura Winter speaks with National Guard Association President Maj. Gen. (ret.) Frank McGinn; and Director of Joint Staff, Joint Force Headquarters, Colorado, Brig. Gen. Michael Bruno, who is the National Guard Association’s Task Force Space Chair.

It’s one of the biggest contracts that Space Systems Command has awarded that you haven’t heard about - the $4 billion Space Force Range Contract awarded to Amentum. The price tag is big because so is this operations and commercial customer-facing job, which should grow along with the increasing cadence of space launch. Laura Winter speaks with Randy Lycans, Amentum’s Senior Vice President and Program Director for Space Force Range Contract (SFRC)

What does the Golden Dome and the plus-up in money for the Space Force and other defense-related space systems tell us about the Trump Administration’s national defense strategy? And is it sustainable? Laura Winter speaks with Peter Garretson, a senior fellow at the American Foreign Policy Council, and co-author of the book “The Next Space Race: A Blueprint for American Primacy”; and Sam Wilson, Director, Strategy and Program Support, Center for Space Policy and Strategy, at The Aerospace Corporation. Wilson’s report, “FY 2026 Defense Space Budget: Emergence of Golden Dome”, can be found here: https://csps.aerospace.org/papers/fy-2026-defense-space-budget-emergence-golden-dome

This week the U.S. Space Force concluded its largest service-wide exercise that also included officers from Allied and Partner nations in leadership positions. Lessons from the exercise will be used to better inform the implementation of the Space Force’s new International Partnership Strategy. Laura Winter speaks with Air Marshal Paul “Godders” Godfrey, the Assistant Chief of Space Operations for Future Concepts and Partnerships, and the highest-ranking non-U.S. officer serving in the Space Force. He was the Director of the 609th Air Operations Centre in Al Udeid before becoming the inaugural Commander of U.K. Space Command.

Now that the U.S. Senate has confirmed Lt. Shawn Bratton’s fourth star and his nomination to become the next U.S. Space Force Vice Chief of Space Operations, there will be a new Deputy Chief of Space Operations, Strategy, Plans, Programs and Requirements. And that’s an opportunity to drag the Space Force out of the Feudal Age into the 21st Century’s Space Age. Laura Winter speaks with Todd Harrison, Senior Fellow, American Enterprise Institute, and much respected NASA and Defense Department budget diviner.