my guest spacex c.e.o. elon musk. has his own rockets.tipped with lasers, i do not know. [ laughter ] before we get started, business news after the top. ♪ >> breaking news on rick santorum dropping out -- [cheers and applause] >> jon: sure that's -- i'm stuck with the santorum dropping out -- well i can't do those jokes anymore. not just because of moral issue but we shredded all of them for god sakes. word of his departure came in the form of just in, standard modifier which discontinuing wishes in a temporal sense just in news from regular stale, run of the mill news. it's the only news modifier you need just temporal stuff. recently cnn would disagree. >> time now for the political pop. >> time now for the cnn political gut check. >> this time new for no talking points. >> checking stories across the country now. >> time for politics update. time for r andr not rest and relaxation but reynolds and randy time. >> jon: they believe the key is creating branded news segments within the news. [ laughter ] which brings us to our new segment

and why does he insist on spacex making all of his components apple? >> i'm primarily an engineer.ve the financial side of things. so normally you have somebody who's a chief engineer and ceo and kind of different. my case it's the same. i can simplify the decision making. and i don't need to -- i only need to convince myself whether the decision is correct. i do think it's important to -- well, hesitate to use the word control, but to really ensure that the whole system is done right. >> why don't you want to say the word control? >> i don't want to sound like a control freak. >> the company may go public late in 2013. one measures value at $1.3 million. musk says that's probably about right. we have more on cnbc.com. we'll have chunks of the tape later. guys, i asked him why is he doing better than blue origin, the private space venture owned by jeff bezos, "i think if jeff bezos were to spend more time on origin, it would make more progress. >> touche. glad to use twitter to keep us updated on what's out there. thank you very much, jane. the nation's biggest mall builder totally

spacex owns and operates with certificaservices resell over and over as long as it works. >> we'll seethe status of the rocket, where it is in the world. you'll see thefounder, elon muss being, when they launch supplies to the space station in a test. now musk farthered with $100 million of his own money. nasa has so far handed over $400 million or $500 million on contracts plus up front money from customers. the key to success is reusing the equipment repeatedly, something the space shuttle did not do cost effectively. >> i think we could probably find flight dragon at least ten times. maybe some parts that need to be replaced. but i think the primary heat shield will be able to last something like ten flights. the engines even long er and th avionics 100 flights. the primary structure 1,000 flights. but we first have to convince our customers that they want to fly on a spacecraft that's been retrieved. but i think over time we'll be able to do that. >> reporter: so you have to be a used space capsule salesman? >> yeah. absolutely. >> reporter: to make this work. >> absolutely. if you

maybe spacex.poke with them about the upcoming rocket launch and he discussed the challenges his new venture faces. >> we first have to convince customers that they want to fly on a spacecraft that's been retrieved. but i think over time we'll be able to do that. >> you have to be a used space capsule salesman to make it work. >> yes. >> and that guy is genius. free health insurance for life? library board members got insist row, illinois. spouse and kids are covered as well and inherit that if a member dies. they did that for newly elected members. you saw it first on cnbc, this made a debut on power lunch. the scream is expected to get up words of $80 million. highest on a painting ever. >>> after a shocking video, republican members of energy and commerce committee launch an investigation. larry, you discussed this possibility last night with senator james inhofe who uncovered that which has been taken down by the poster. have an awesome weekend. back to you. >> thank you, appreciate everything.

us access again to the international space station and access to low earth orbit, sierra nevada, spacexessful, they orbited dragon 17 months ago and they are getting ready to fly a cargo ship up to the space station next month. so we're getting back in the business hopefully of flying people in space. there will be a little bit of a down time and the space shuttles will go around the country to a few museums, endeavour will be the last and head to l.a., starting this -- this fall. >> i was lucky enough to cover one of the launches and there is nothing like that, that i've ever experienced. what is it like in the shuttle when eventually this does end up at the intrepid and other ones are open for business, so to speak, to become a learning tool and experience, what is it like inside that shuttle somewhat will people see? >> the crew compartment of the space shuttle it depends on your perspective. some people think it's small, other think it's large. the cockpit is about the size of the cockpit of a 747. then there is a mid-deck. i've flown the space shuttle up to the space station on fou

space station, and it'll be the first time that a private entity has attempted such a mission, and spacexthe european union, the russians, the chinese, the japanese and the united states government. so i think while the shuttle era is coming to an end, there is an exciting future in space, and that future includes commercial entities now carrying cargo and, soon, astronauts into low-earth orbit for the u.s. martha: so this dragon that we were just looking at, you know, sort of a recreation, i guess, of what dragon would look like on its return to earth. it's a very small capsule, and it would be sent up and, as i understand it, linked up to the space station as a cargo transport primarily, right? >> well, that's correct. again, it'll be the first demonstration of that capability. though the dragon spacecraft flew last year, and it became the first private capsule to ever orbit the earth and successfully reenter. and the dragon has been designed from day one to carry astronauts, so we're currently competing for that opportunity with nasa, and we think we'll be able to carry american astron

. >> would've spacex it in all this? >> spacex, they are trying to make a vehicle with the efficiency of private enterprise that will substitute for nasa's vehicles to go back and forth to low-earth orbit. >> with a substitute for the money that would've gone to mass or are they going to enhance -- >> nasa gets a budget. instead of having to spend more to send their own people, they will just it with private enterprise, the same with the postal service rends belly space on airplanes to move your mail. we presume that when you go private enterprise they will do more efficiently and more intelligently, or more reliably than what the government program would've done. so that's the goal. spacex found by elon musk, the writer of paypal sold to ebay for a billion dollars, and he was like 32 or something. one of these space billionaires who decides couple of space so much gimmies trying to now make his own spacecraft. just? >> how old are you? >> eight. >> eight, that is so cool. [applause] >> is the pastor bedtime? this is so