SpaceX COO Gwynne Shotwell and Ron Baron at the 31st Annual Baron Investment Conference

Video Description

With the ultimate goal of enabling humanity to be multi-planetary, SpaceX is transforming the space launch market through its highly differentiated reusable rocket technology. SpaceX President and COO Gwynne Shotwell joins Baron Capital Chairman, CEO, and Founder Ron Baron and Ishay Levin, assistant portfolio manager of Baron Opportunity Fund, to explore the groundbreaking potential of Starship—the largest and most powerful rocket ever built—and its latest milestone: the first-ever "Mechazilla” booster recovery. They also discuss SpaceX’s rapidly expanding satellite-enabled Starlink broadband service, the impact of industry regulations on the pace of innovation, and more. ▬ Contents of this video ▬▬▬▬▬▬▬▬▬▬ 0:00 – SpaceX 1:47 – Accelerating Growth 5:07 – Reusability as a Competitive Advantage 5:56 – Starship Changing the World 7:51 – Mechazilla 8:46 – Physics is Easy, Regulatory Change is Hard 11:00 – Accelerating Satellite Launches 13:27 – Starlink and Direct to Cell (Device) Connections 14:30 – Can the Competition Catch Up to SpaceX? 16:26 – Reducing Launch Costs and Space Exploration 20:57 – Size of Starship 21:55 – Skip Level Meetings 24:18 – Working for Elon and Managing a Large Organization 28:14 – Competition for Physical Space, Constellation Management 30:06 – Business Competition vs. Market Size 31:21 – Advancements in Satellite Technology 34:30 – Starlink Solving Global Communications 36:26 – Next Generation Starlink and Building an Amazing Product 40:30 – Launching in Brazil 42:24 – DOGE and Modernizing Space Regulations 46:46 – Cost Plus Contracting 48:17 – Nationalization Risk 51:02 – Maintaining Company Culture at SpaceX 55:10 – Financial Success Where Others Have Failed Disclosures: Investors should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The prospectus and summary prospectus contain this and other information about the Fund and can be obtained from the Fund's distributor, Baron Capital, Inc., by calling 1-800-99-BARON or visiting BaronCapitalGroup.com. Please read them carefully before investing. Risks: All investments are subject to risk and may lose value. The discussions of the companies at the Conference are not intended as advice to any person regarding the advisability of investing in any particular security. The views expressed at the Conference reflect those of the respective speakers. Those views are not intended as recommendations or investment advice to any person and are subject to change at any time based on market and other conditions and Baron Capital has no obligation to update them. Baron Capital has provided website addresses of companies participating in our Investment Conference as a convenience to our attendees. Baron Capital is not responsible for the content of these sites. Portfolio holdings as a percentage of net assets as of September 30, 2024 for securities mentioned are as follows: Space Exploration Technologies Corporation - Baron Asset Fund (2.8%), Baron Fifth Avenue Growth Fund (0.9%), Baron Focused Growth Fund (8.8%), Baron Global Advantage Fund (6.5%), Baron Opportunity Fund (2.7%), Baron Partners Fund (11.1%*) *% of Long Positions. As of September 30, 2024, the Funds did not hold shares of Starlink Services, LLC. Portfolio holdings are subject to change. Current and future portfolio holdings are subject to risk. BAMCO, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Baron Capital, Inc. is a broker-dealer registered with the SEC and member of the Financial Industry Regulatory Authority, Inc. (FINRA).