October 28, 2025 • 9 mins
Rocket Lab is celebrating 20 years in operation this week.
The company has become the fastest in history to launch 50 rockets into space.
Now valued at over $20billion, Rocket Lab's portfolio includes missions for NASA and the U.S. Air Force Space Command.
Founder and CEO Sir Peter Beck told Mike Hosking that, 'the company continues to grow really, really strongly, but it always seems like it's going to take a shorter period of time than it really does.'
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Speaker 1 (00:00):
If you can believe it, Rocket Lab is celebrating twenty
years one of this country's great success stories. Of course,
milestone year become the fastest company ever to get fifty
rockets into space. These days valued north of twenty billion
as customers like NASA and the US Air Force and
Sir Peter Becker is of course Rocket Labs founder and CEO,
and as well as Peter. Good morning morning, Mike.
Speaker 2 (00:20):
How are you very well?
Speaker 1 (00:21):
Indeed, thank you if you charted the idea versus the
reality of how it panned out, what happened?
Speaker 2 (00:29):
It was all too slow, if I'm honest with you,
I was expecting to be further on than we are.
But no complaints really, I think you know, the company
continues to grow really really strongly, but you know, it
always it always seems like it's going to take a
shorter period of time than it really does.
Speaker 1 (00:45):
It continues to grow to be what.
Speaker 2 (00:50):
Well, look, we're trying to build the biggest space company
in the world, unashamably, that's where we're trying to go.
And you know, if you look at the market cap today,
as you pointed out, it's like five times the size
of Fonterra. So we're doing okay, but there's a lot
more to go.
Speaker 1 (01:05):
And so in space is one of the things we've
learned in space to be successful, it's all about scale
or is that not fair to say?
Speaker 2 (01:12):
It's all about scale, and it's all about execution, and
it's all about reliability. And you know, there's been a
lot of a lot of capital poured into the space
industry over the years, and and you know, if those
those three things aren't there, then then that's that's where
the failure occurs. But you know, we've we've been lucky
and worked hard to make sure that you know, we
continue to execute and you know, our products work and
(01:33):
work reliably.
Speaker 1 (01:34):
It seems today that there's money out there, truckloads of
money for things like space AI, all of those sort
of things. Was that always the case when you started
in space? Was there money out there for cool ideas?
Speaker 2 (01:47):
No, you have to put into context. Mike, I came
from New Zealand with no degree to Silicon Valley, from
a country that had no space industry, and raised five
million dollars, which was an absurd amount of money at
the time. I mean, you go to Silicon Valley with
just just you know, a nutty idea in space and
you can go and raise fifty one hundred million dollars.
So no, very very different times.
Speaker 1 (02:07):
How much I mean your reputation precedes you. I am
assuming to some degree now because of your success. But
how much of the money in space these days is
just crazy money? Risky money? Throw it at an idea.
Some of it will stick a.
Speaker 2 (02:21):
Lot less now like it was super fluffy in twenty
twenty one. Like you know, we saw things that get
funded that didn't even follow the laws of physics, but
much much harder now.
Speaker 1 (02:32):
Do you need what would you call yourself? Are you
a visionary or are you a businessman or a bit
of both? And if you are a visionary, do you
need a businessman?
Speaker 2 (02:42):
Well, I'd hope that on my termstone its is engineer.
But you know, it's definitely a strong marriage between engineering
and business because you have to make good business decisions
along with good engineering decisions. And if either one of
those decisions are bad, then then that's that's when you
have problems.
Speaker 1 (03:01):
Is there a certain I already in having NASA involved
in that. Once upon a time, space was NASA and
NASA was space. Whereas the whole thing's sort of flipped,
hasn't it.
Speaker 2 (03:11):
Yeah? Yeah, I mean it's funny because my original dream
is to go and work for NASA and things. Was
on our fourth launch that we actually flew NASA, So
that was that was you know a bit of a
bit of a moment for us. But but but NASA's
always sort of contracted folks to build stuff for them.
They've always built up as well. But it's certainly much
(03:31):
more of a you know, you know, an outsource model
now than it ever was.
Speaker 1 (03:36):
Is your story typical? In other words, if you start
from New Zealand in an area that goes big globally,
you will inevitably have to leave New Zealand and be
somewhere else. Is that fair?
Speaker 2 (03:48):
Well? I mean, this is this is the crazy thing
about if you want to build a big, successful company,
by definition, it has to be global because there's not
scale in New Zealand. So I always always get, you know,
somewhat annoyed when we folks say, oh, isn't it sad
that rocket Lab had to list in Nasdak and be
a global company. It's like, no, that's the only way
you can build scale. I think it's a great success
(04:09):
when companies start in New Zealand and grow and have
to go into national and global and become large, successful,
multi multi nationals. I think that is the definition of success.
Speaker 1 (04:20):
What about the technical side of what you do and
how fast it's increasing in terms of what you do,
the efficiency of what you do, the reliability of what
you do, and whether that projection keeps going.
Speaker 2 (04:34):
Yeah, well, I mean, you know, as long as as
as long as technology keeps moving, then that's always the case.
I mean, we certainly sit on the bleeding edge of innovation,
and that's part of our secret. Writers. If you look
at our kind of traditional competitors, the large aerospace primes,
you know their failure has been innovation and all the respects.
(04:55):
So you know, you can chart the course and look
at the similarities between you know, the successful space companies
and they all look kind of like rocket Lab and
space X these days.
Speaker 1 (05:05):
Yeah, are you cognizant and do you think of what
you've done for your industry in a place like New Zealand. So,
in other words, you were a pioneer and a kid
in school can think of space as being a real
option as opposed to a dream like option.
Speaker 2 (05:21):
Absolutely, it's a real option. I mean, for me growing up,
it was I have to move to America and go
and work Panassa. But you know there's about nine hundred
kiwis that just work in Rocket Lab alone, and we
have something like one and a half thousand suppliers all
supporting the various missions that we have going on around
the world. So you know, a career in space these
days is you know that that is absolutely attainable and
(05:43):
almost standard.
Speaker 1 (05:44):
Do you have labor issues hiring great people or as
the industry full of great people?
Speaker 2 (05:50):
No, we do, I mean, and the bar at Rocket
Lab is extraordinarily high. The HR team was saying to
me the other day that it's twice as easy to
get into Harvard University than it is to get into
Rock Lab. And we're unashamable about that because we only
hire the best. But you know, when you put the
best people in a team together and throw resources at them,
(06:10):
then you know that's when the magic happens. But it
is a continual throttle for us, like finding the best talent.
Speaker 1 (06:16):
Are you beyond the economy in that sense? You know what?
Back here on Earth, we're worried about tariffs and the
price of cost of living crisis, and all of those
real world things. Does the space industry just keep on
being the space industry no matter what is happening in
the world.
Speaker 2 (06:33):
Pretty much? Actually, if you track the history of the
space industry, because the build cycles of the you know,
whether it's a rocket or a spacecraft, is so long,
it generally spans like the you know, the ebbs and
flows of the economy. Now, certainly, you know, from an
entrepreneurial standpoint, the access to capital becomes great and then
(06:53):
it goes in cycles as well and then less, but
generally it does kind of span those larger macroeconomic things.
But if you look at the industries that are growing
the most, it's like AI in space and a few others.
So you know, there's there's there's no kind of there's
no kind of slack in the system.
Speaker 1 (07:11):
How have you kept control of the company in terms
of as it's grown bigger. You can't be everywhere and
be everything to every one.
Speaker 2 (07:20):
Yeah, that that is that is the hardest thing, and
if I'm honest, I worry about that the most and
it's been probably spend the most amount of times just
making sure the rocket lab culture never changes because you know,
we've acquired six companies, and when you acquire a company,
you acquire a certain degree of culture. So that's probably
something I spend the most amount of time on. And
you can go to any one of our businesses anywhere
(07:41):
in the world and there's always a key we sitting
there in some level of some level of authority. So
you know that that that that's kind of one way
we do it. But but yeah, no, I think I
think that's that's something worth have to have to work
hard at.
Speaker 1 (07:55):
And is it true that Kiwis are different in terms
of work ethic their view of the world that you
can spot at KIWI And that's why a lot of
internationals like Kiwis.
Speaker 2 (08:04):
Absolutely but for the positive end. For the negative, you know,
the one thing that I'm always banging on with Kiwis
is that we just don't think big enough. Like I
can go to America and stand up in a room
and say i' and I build a bigger space company
in the world and everybody cheers. I do the same
thing in the room in New Zealand and everybody sort
of goes, I don't know about that, and you know
what I mean. So that's one of the biggest issues
(08:27):
that we have in New Zealand, just like think bigger
and be more ambitious and get after it.
Speaker 1 (08:32):
You're well said. Will you be with the company forever?
I mean business people, you know, you buy your cell,
you get bored out, whatever the case may. Will you
be with rocket Lab until you decide you're no longer
wanting to be with rocket Lab?
Speaker 2 (08:43):
Well, I think one or two things will happen and
they'll take me out in the box, or somebody will
tap me on the show shoulder hopefully and say that
I'm no longer effective and it's time to go. That's
probably the reality.
Speaker 1 (08:52):
Fantastic, good to catch up with you, appreciating congratulations on
twenty years a Peter Beck twenty years of rocket Lab.
For more from the mic O Mosking Breakfast, listen live
to News Talk Set B from six am weekdays, or
follow the podcast on iHeartRadio.
If you can believe it, Rocket Lab is celebrating twenty
years one of this country's great success stories. Of course,
milestone year become the fastest company ever to get fifty
rockets into space. These days valued north of twenty billion
as customers like NASA and the US Air Force and
Sir Peter Becker is of course Rocket Labs founder and CEO,
and as well as Peter. Good morning morning, Mike.
Speaker 2 (00:20):
How are you very well?
Speaker 1 (00:21):
Indeed, thank you if you charted the idea versus the
reality of how it panned out, what happened?
Speaker 2 (00:29):
It was all too slow, if I'm honest with you,
I was expecting to be further on than we are.
But no complaints really, I think you know, the company
continues to grow really really strongly, but you know, it
always it always seems like it's going to take a
shorter period of time than it really does.
Speaker 1 (00:45):
It continues to grow to be what.
Speaker 2 (00:50):
Well, look, we're trying to build the biggest space company
in the world, unashamably, that's where we're trying to go.
And you know, if you look at the market cap today,
as you pointed out, it's like five times the size
of Fonterra. So we're doing okay, but there's a lot
more to go.
Speaker 1 (01:05):
And so in space is one of the things we've
learned in space to be successful, it's all about scale
or is that not fair to say?
Speaker 2 (01:12):
It's all about scale, and it's all about execution, and
it's all about reliability. And you know, there's been a
lot of a lot of capital poured into the space
industry over the years, and and you know, if those
those three things aren't there, then then that's that's where
the failure occurs. But you know, we've we've been lucky
and worked hard to make sure that you know, we
continue to execute and you know, our products work and
(01:33):
work reliably.
Speaker 1 (01:34):
It seems today that there's money out there, truckloads of
money for things like space AI, all of those sort
of things. Was that always the case when you started
in space? Was there money out there for cool ideas?
Speaker 2 (01:47):
No, you have to put into context. Mike, I came
from New Zealand with no degree to Silicon Valley, from
a country that had no space industry, and raised five
million dollars, which was an absurd amount of money at
the time. I mean, you go to Silicon Valley with
just just you know, a nutty idea in space and
you can go and raise fifty one hundred million dollars.
So no, very very different times.
Speaker 1 (02:07):
How much I mean your reputation precedes you. I am
assuming to some degree now because of your success. But
how much of the money in space these days is
just crazy money? Risky money? Throw it at an idea.
Some of it will stick a.
Speaker 2 (02:21):
Lot less now like it was super fluffy in twenty
twenty one. Like you know, we saw things that get
funded that didn't even follow the laws of physics, but
much much harder now.
Speaker 1 (02:32):
Do you need what would you call yourself? Are you
a visionary or are you a businessman or a bit
of both? And if you are a visionary, do you
need a businessman?
Speaker 2 (02:42):
Well, I'd hope that on my termstone its is engineer.
But you know, it's definitely a strong marriage between engineering
and business because you have to make good business decisions
along with good engineering decisions. And if either one of
those decisions are bad, then then that's that's when you
have problems.
Speaker 1 (03:01):
Is there a certain I already in having NASA involved
in that. Once upon a time, space was NASA and
NASA was space. Whereas the whole thing's sort of flipped,
hasn't it.
Speaker 2 (03:11):
Yeah? Yeah, I mean it's funny because my original dream
is to go and work for NASA and things. Was
on our fourth launch that we actually flew NASA, So
that was that was you know a bit of a
bit of a moment for us. But but but NASA's
always sort of contracted folks to build stuff for them.
They've always built up as well. But it's certainly much
(03:31):
more of a you know, you know, an outsource model
now than it ever was.
Speaker 1 (03:36):
Is your story typical? In other words, if you start
from New Zealand in an area that goes big globally,
you will inevitably have to leave New Zealand and be
somewhere else. Is that fair?
Speaker 2 (03:48):
Well? I mean, this is this is the crazy thing
about if you want to build a big, successful company,
by definition, it has to be global because there's not
scale in New Zealand. So I always always get, you know,
somewhat annoyed when we folks say, oh, isn't it sad
that rocket Lab had to list in Nasdak and be
a global company. It's like, no, that's the only way
you can build scale. I think it's a great success
(04:09):
when companies start in New Zealand and grow and have
to go into national and global and become large, successful,
multi multi nationals. I think that is the definition of success.
Speaker 1 (04:20):
What about the technical side of what you do and
how fast it's increasing in terms of what you do,
the efficiency of what you do, the reliability of what
you do, and whether that projection keeps going.
Speaker 2 (04:34):
Yeah, well, I mean, you know, as long as as
as long as technology keeps moving, then that's always the case.
I mean, we certainly sit on the bleeding edge of innovation,
and that's part of our secret. Writers. If you look
at our kind of traditional competitors, the large aerospace primes,
you know their failure has been innovation and all the respects.
(04:55):
So you know, you can chart the course and look
at the similarities between you know, the successful space companies
and they all look kind of like rocket Lab and
space X these days.
Speaker 1 (05:05):
Yeah, are you cognizant and do you think of what
you've done for your industry in a place like New Zealand. So,
in other words, you were a pioneer and a kid
in school can think of space as being a real
option as opposed to a dream like option.
Speaker 2 (05:21):
Absolutely, it's a real option. I mean, for me growing up,
it was I have to move to America and go
and work Panassa. But you know there's about nine hundred
kiwis that just work in Rocket Lab alone, and we
have something like one and a half thousand suppliers all
supporting the various missions that we have going on around
the world. So you know, a career in space these
days is you know that that is absolutely attainable and
(05:43):
almost standard.
Speaker 1 (05:44):
Do you have labor issues hiring great people or as
the industry full of great people?
Speaker 2 (05:50):
No, we do, I mean, and the bar at Rocket
Lab is extraordinarily high. The HR team was saying to
me the other day that it's twice as easy to
get into Harvard University than it is to get into
Rock Lab. And we're unashamable about that because we only
hire the best. But you know, when you put the
best people in a team together and throw resources at them,
(06:10):
then you know that's when the magic happens. But it
is a continual throttle for us, like finding the best talent.
Speaker 1 (06:16):
Are you beyond the economy in that sense? You know what?
Back here on Earth, we're worried about tariffs and the
price of cost of living crisis, and all of those
real world things. Does the space industry just keep on
being the space industry no matter what is happening in
the world.
Speaker 2 (06:33):
Pretty much? Actually, if you track the history of the
space industry, because the build cycles of the you know,
whether it's a rocket or a spacecraft, is so long,
it generally spans like the you know, the ebbs and
flows of the economy. Now, certainly, you know, from an
entrepreneurial standpoint, the access to capital becomes great and then
(06:53):
it goes in cycles as well and then less, but
generally it does kind of span those larger macroeconomic things.
But if you look at the industries that are growing
the most, it's like AI in space and a few others.
So you know, there's there's there's no kind of there's
no kind of slack in the system.
Speaker 1 (07:11):
How have you kept control of the company in terms
of as it's grown bigger. You can't be everywhere and
be everything to every one.
Speaker 2 (07:20):
Yeah, that that is that is the hardest thing, and
if I'm honest, I worry about that the most and
it's been probably spend the most amount of times just
making sure the rocket lab culture never changes because you know,
we've acquired six companies, and when you acquire a company,
you acquire a certain degree of culture. So that's probably
something I spend the most amount of time on. And
you can go to any one of our businesses anywhere
(07:41):
in the world and there's always a key we sitting
there in some level of some level of authority. So
you know that that that that's kind of one way
we do it. But but yeah, no, I think I
think that's that's something worth have to have to work
hard at.
Speaker 1 (07:55):
And is it true that Kiwis are different in terms
of work ethic their view of the world that you
can spot at KIWI And that's why a lot of
internationals like Kiwis.
Speaker 2 (08:04):
Absolutely but for the positive end. For the negative, you know,
the one thing that I'm always banging on with Kiwis
is that we just don't think big enough. Like I
can go to America and stand up in a room
and say i' and I build a bigger space company
in the world and everybody cheers. I do the same
thing in the room in New Zealand and everybody sort
of goes, I don't know about that, and you know
what I mean. So that's one of the biggest issues
(08:27):
that we have in New Zealand, just like think bigger
and be more ambitious and get after it.
Speaker 1 (08:32):
You're well said. Will you be with the company forever?
I mean business people, you know, you buy your cell,
you get bored out, whatever the case may. Will you
be with rocket Lab until you decide you're no longer
wanting to be with rocket Lab?
Speaker 2 (08:43):
Well, I think one or two things will happen and
they'll take me out in the box, or somebody will
tap me on the show shoulder hopefully and say that
I'm no longer effective and it's time to go. That's
probably the reality.
Speaker 1 (08:52):
Fantastic, good to catch up with you, appreciating congratulations on
twenty years a Peter Beck twenty years of rocket Lab.
For more from the mic O Mosking Breakfast, listen live
to News Talk Set B from six am weekdays, or
follow the podcast on iHeartRadio.
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