I- are the administration's rules on this, uh, on what will get invested in, what won't be, and how, kinda clear to your membership, and do folks understand sort of the rationale for why investments are being made, the metrics of it, as well as the exit strategies?

I think the answer's yes and no to that.

I, I will say it, it is interesting how attitudes towards industrial-based policy have changed and, and aren't partisan in the same way as they used to be when you and I got started doing this.

Um, but every administration has things that they look at.

This administration decided not to help Spirit Airlines, as an example.

So, you know, they're making choices like previous administrations have made.

The, the equity stakes, it's, it's a new idea, uh, in an environment where people are looking for new ideas.

But what, what's, what's your, your sense on, on the right place to end up and, and your membership's concerns, uh, about this, and their thoughts on how to engineer a better outcome ultimately?

So let's start with the conversations you're having, both with the American industries here and then some of the visitors, let's say, who are here at the show.

So what's interesting about AIA's presence at an air show is, first and foremost, we go anywhere where there's military hardware.

Any air show with military hardware, we're present.

But we really are doing U.S. dialogues at our shows, even though we're internationally traveling.

A big topic of conversation when you talk to people outside the United States and Europeans is the health of our relationship, where it's headed and what that means for the industrial base and our industry partnerships.

When it's U.S. to U.S., increasingly right now, it being July, we're talking about the budget.

uh and where that's going to lead so it's two sort of different things but on the international side it's actually been kind of interesting you've seen a lot of great announcements a lot of great orders orders aren't even the most important metric maybe anymore all these technology announcements and partnerships between established companies and new companies it's been sort of interesting to see and still a lot of interest from european countries for american kit that hasn't really gone away so I think it's still healthy.

So I guess first question, what's your take on reconciliation? Second question, what's the plan here?

Mm.

All these technology announcements and partnerships between established companies and new companies.

It's been sort of interesting to see, and still a lot of interest from European countries for American kit.

Um, that hasn't really gone away.

So I think it's still healthy.

We've hit a trillion dollars as an industry now, and exports are up 25% year over year.

Yeah.

Um, you ask 10 people what commercial is, you'll get 11 answers.

How exactly is it playing out in your mind?

Yeah, it's been a, it's been a great airshow already for the United States.

We have more companies here than we've ever had before.

And, and as you point out, it's been an interesting split.

Farnborough has typically had, um, a bit more of a commercial vibe to it, but it's 50/50 defense commercial this year in terms of the exhibitors, and there have been a lot of great announcements on the defense side.

The commercial side as well.

So it's been a really successful show for us.

We did get orders information, but for you, is it about the orders?

Anyway, what do you make of the measure, its prospects for passage, and what it means if it does pass?

Well, that's a part of the problem.

There isn't a commercial market for these things.

We're building things, our industrial base, the United States industrial base, is building things that no other country can build and oftentimes is starting down the road before technology is even proven.

And that's one of the early sort of risk assessments you have to make.

When is this technology that we're developing ready to go into production coming? And oftentimes you want to lean forward on that because you're trying to stay ahead of the adversary.

You're trying to have the speed to make sure that you're dominant.

I should have been clearer because this all just gets jumbled, and I apologize for having contributed to that jumble.