The $318 million IonQ purchase deal to acquire Capella Space is bringing together two worlds in a high-stakes bid to radically change satellite-to-satellite and satellite-to-ground communications and computing at the edge. At least that's what the CEOs are saying. Are they right? Also, up top in this episode is a space threats update. Laura Winter speaks with Niccolo de Masi, IonQ’s President and CEO; Frank Backes, CEO of Capella Space; and Hector Falcon, the Space Information Sharing and Analysis Center’s Watch Center Director.

This week planet Earth is seeing two re-entries of man-made objects: first the uncontrolled, possibly life-threatening, Soviet-era Kosmos 482; and second, the W-3 - an example of the very controlled, defense and in some cases possibly life-extending, business case that is Varda Space Industries. Laura Winter speaks with Delian Asparouhov, Varda Space Industries’ co-Founder and President, and Partner at Peter Thiel’s Founders Fund; and Muk Pandian, Varda’s Director of Strategic Partnerships and Advanced Concepts.

Is there really sunshine in the Space Sector? April was a rough month for businesses, consumers, and public equities traders, all tenderized by the blows of uncertain trade policies. The DownLlink Podcast’s regular guest and space economist says the Space Sector is different and should be fine. Is he right? Laura Winter speaks with George Pullen, Partner and Chief Economist at MilkyWayEconomy.

Want to think beyond 2045? There’s a process for that called Strategic Foresight. According to a new U.S. Space Force Report, the newest service branch needs to employ it. Laura Winter speaks with two of the report’s leading authors, Joel Mozer, who is best known for being the first United States Space Force Director of Science, Technology and Research; and David Hardy, former Associate Deputy Under Secretary of the Air Force for Space. You can read their report here: https://ihubcolorado.org/beyond-the-tipping-point/.

This week the U.S. Space Force let a linguistic genie out of the bottle. The newest service branch published a 22-page guide for planners called “Space Warfighting”, that ditches soft elocution and takes up words like “destroy”, “terrestrial strike”, and “counterattack”. What does this mean for culture; training and education; research, development, testing and evaluation (RDT&E); acquisition; and the Space Force’s place in the Joint Force? In addition to a roundtable discussion with Lt. Gen. Shawn Bratton, Deputy Chief of Space Operations, Strategy, Plans, Programs and Requirements, Laura Winter speaks with Charles Galbreath, Senior Resident Fellow for Space Studies at the Mitchell Institute’s Spacepower Advantage Center of Excellence.

While the 40th Space Symposium’s theme was “Building Partnerships to Secure our Future”, everyone in Colorado Springs, Colorado was talking about building President Trump’s Next Generation Missile Defense Shield, a.k.a.: “Golden Dome For America.” This week’s guest cautions us that you cannot have a space-based missile defense shield without the ground segment. Laura Winter speaks with Mark Henrie, Divisional Vice President, Amentum Missile Defense Group, and Deputy Program Manager, Integrated Research & Development Enterprise Solution.

The second quarter has opened with U.S. President Donald Trump’s sweeping “Liberation Day” tariffs, causing Wall Street to suffer its worst days in years. The U.S.-based space economy does not have immunity from the Trump Administration’s trade policies or the markets. Laura Winter speaks with The DownLink regulars Chris Quilty, founder of Quilty Space; and George Pullen, Partner and Chief Economist at MilkyWayEconomy.

European Commission President Ursula von der Leyen is proposing to leverage €800 billion to rebuild Europe’s defense industrial base, and seed new defense capability development, including space capabilities. In the justification paper, even the words “space warfare” were used. To understand what this all means for space and defense in Europe, Laura Winter speaks with Antje Nötzold, Lecturer and Research Associate at the Chair of International Politics at Chemnitz University of Technology; Lina Pohl, Research Fellow at European Space Policy Institute (ESPI) seconded by German Space Agency (DLR).

It doesn’t take much mass, just a fleck of paint, to punch a hole into a satellite or an intercontinental ballistic missile. This week’s guest thinks the technology for an AI-controlled space-based kill vehicle, that is also small and lean enough to make room for the fuel needed for speed, is close at hand if the Department of Defense wishes to seize it. Laura Winter speaks with Arno Ledebuhr, a physicist, who worked on the Strategic Defense Initiative’s space-based ballistic missile defense system Brilliant Pebbles, at Lawrence Livermore National Laboratory, under Lowell Wood and Edward Teller.

This episode comes to you from SatShow’25 in Washington, D.C., where European space companies say the uncertainty of the Trump Administration’s economic and security policies are creating a golden opportunity for their businesses and technology development. Laura Winter speaks with Declan Ganley, CEO Rivada; Ed Tate, CTO, VIrtus Solis; Martin Soltau, co-Founder and co-CEO, Space Solar.