Payload 🚀

We cover the business and policy of space. Subscribe to our daily newsletter below.

[Payload 🚀 @payloadspace]

.@NASA will support free-flying commercial successors to the ISS, abandoning agency proposed changes to the acquisition plan.

https://t.co/5CWHc4igDJ

[Payload 🚀 @payloadspace]

The explosion of @blueorigin's New Glenn rocket produced shockwaves similar to a small earthquake, sending seismic waves up to about 220 km away. But, according to Blue Origin CEO Dave Limp, the explosion looked worse than it is.

https://t.co/Tp4NsUFkb9

[Payload 🚀 @payloadspace]

The House’s annual defense authorization bill would eliminate the two offices within the Pentagon designed to speed up space acquisition.

https://t.co/KOLTqX1TIE

[Mo Islam @itsmoislam]

JUST DROPPED: Valley of Depth pod w/ @Jason_Lil_Kim , CEO of Firefly Aerospace (@FireflySpace).

We discuss:

→ The last 30 seconds of the Blue Ghost Mission 1 landing, from inside the room
→ Why the Moon matters and how big the commercial lunar economy actually gets
→ The post-Starship launch market
→ The Eclipse medium-lift bet and the Northrop partnership
→ Why a hardware CEO bought a software company
→ The valuation gap with Rocket Lab and what the market hasn't priced in
→ His read on SpaceX and China
→ The path to a $100B company

...and much more

Chapters:
00:53 – Blue Ghost Mission 1
07:16 – What is the new objective in Blue Ghost Mission 2?
11:49 – How Jason became CEO
18:53 – AE Industrial and how private equity informs Jason's mindset
21:02 – Product stack
24:21 – Alpha and small launch economics
26:20 – Firefly's Eclipse
28:09 – How Starship will impact the launch market
29:41 – Viability of commercial launches
33:51 – Why does the Moon matter?
38:02 – The future of Blue Ghost's missions
39:52 – Why Firefly acquired SciTec
50:49 – Do the public markets understand the space economy?
52:57 – Is Firefly just a launch company?
55:31 – $FLY vs $RKLB
59:56 – The China question
1:01:53 – How Firefly is thinking about M&A
1:04:25 – The path to Firefly hitting a $100B valuation

Full episode 👇

[Payload 🚀 @payloadspace]

.@northropgrumman announced a partnership with Apex to collaborate on the development of space-based interceptor (SBI) satellites as part of the US Golden Dome missile-defense shield.

https://t.co/d7fygXxyRy

[Payload 🚀 @payloadspace]

.@GoToImpulse has closed a $500M Series D, bringing its total capital raised to $1B+. The round, which was co-led by 137 Ventures and BANNER VC, will allow the in-space mobility company to grow its workforce and expand its manufacturing capabilities.

https://t.co/l2ZzzRJmTc

[Payload 🚀 @payloadspace]

.@BellatrixAero is teaming up with Korean optical payload manufacturer TelePIX on a new VLEO demo satellite, launching NET 2028.

https://t.co/BWQmMYOlqT

[Jack Kuhr @JackKuhr]

Deploying the Starlab space station will require an operational Starship and a new fairing for the rocket.

We asked Starlab's CEO Marshall Smith about the $90M Starship contract.

"SpaceX has a contract to go land on the surface of the Moon by '28. We just have to go to orbit. We're already doing that."

"So the biggest thing we gotta do now is deal with the fairing, which is in work. I have no doubts or qualms at all that we will be there."

[Payload 🚀 @payloadspace]

During a static fire test at @blueorigin's Cape Canaveral launch pad, New Glenn’s first stage exploded into a mushroom cloud that destroyed the rocket, and much of the infrastructure at LC-36A, according to Ars Technica.

https://t.co/aKi2sR6MSM

[Mo Islam @itsmoislam]

This week’s episode of Valley of Depth features @Zsshore, CEO of @hermeuscorp.

The US hasn't flown a Mach 3-plus reusable aircraft since the SR-71 was retired in 1990. Hermeus wants to change that and they want to do it faster, cheaper, and w/ a fraction of the capital.

We sit down with Zach at the moment where the company's bet is clearly starting to pay off.

[Payload 🚀 @payloadspace]

The EU commission proposed new rules for its spectrum allocation that would reserve at least two-thirds of available frequencies to European satellite operators, leaving foreign satcoms to compete for table scraps.

https://t.co/SZxplfZRwX

[Payload 🚀 @payloadspace]

Space-tech startup @ObservableSpace has closed a $90M Series A to boost its production of laser and optical hardware—in addition to expanding internationally beyond the US.

https://t.co/lxjIAUv3yo

[Payload 🚀 @payloadspace]

Space Markets, which emerged from stealth after being founded in December, is also announcing an investment from Coinbase Ventures for an undisclosed amount. The platform will be built on Coinbase’s Ethereum Layer-2 network.

https://t.co/W0vFl85V9l

[Payload 🚀 @payloadspace]

LIVE: Space & Defense Update (ARKAEA x NYSE) | May 28, 2026 https://t.co/ztFk0wmqxv

[Payload 🚀 @payloadspace]

.@SystemsAitech, the CA-based supplier of space-computing platforms, announced an upgrade to its supercomputer that is intended to fuel the next wave of AI applications in orbit.

https://t.co/Hm1sQ8adef

[Mo Islam @itsmoislam]

We are LIVE again with the @NYSE today starting at 1PM ET. Today's show will be centered around space stations and the future of CLD.

What replaces the ISS and who builds it is one of the biggest open questions in space right now. We'll break down what NASA is actually proposing, who it helps, who it hurts, and whether there's a real business here. Our guests include:

– Jonathan Cirtain, CEO of @Axiom_Space
– Marshall Smith, CEO of @Starlab_Space (@voyagertech_)

...and we'll of course be getting into the SpaceX S-1 as well as the recent move in public space stocks.

Where to watch (in comments) 👇

[Payload 🚀 @payloadspace]

.@NASA awarded two companies a contract to build Lunar Terrain Vehicles: @Astrolab_Space ($219M), which will launch its FLIP rover to the lunar surface this summer; @LunarOutpostInc ($220M), which unveiled its Pegasus rover this month.

https://t.co/ffomWal3q8

[Payload 🚀 @payloadspace]

.@NASA is making big decisions regarding commercial space. Amid concerns about the viability of the market for private successors to the ISS, the agency is derisking its approach by shifting from major investor to incremental funder.

https://t.co/oZkxF8I3be

[Payload 🚀 @payloadspace]

.@Satellogic launched a new data product, called Aleph Observer, to offer customers persistent monitoring capabilities through its NewSat EO constellation.

https://t.co/sQbS4ELl6u

[Payload 🚀 @payloadspace]

.@SpaceX launched its Starship V3 launch vehicle for the first time, unveiling a full suite of upgrades during the rocket’s twelfth test flight. Starship lifted off the newly built pad in Starbase, TX, and proceeded to hit nearly all of its milestones.

https://t.co/GpT3j8yPxE