Here is the full 30-minute interview with Ron Baron. He spoke about Elon, Tesla, FSD, SpaceX, Starlink, robots, AI agents and data centers in space.

Key highlights:

• He predicted Starlink could generate $1 trillion in annual revenue within 10 years and help SpaceX reach a value of around $15 trillion.

• Baron Capital holds about $25 billion in SpaceX and $5 billion in Tesla.

• Ron said Elon’s companies generated $30 billion of the $71 billion in profits Baron Capital has made for clients.

• Ron personally has about $5 billion invested in SpaceX and $1.5 billion in Tesla.

• He called Tesla the best and said now is the time to buy the stock as FSD adoption and Tesla’s market share continue to grow.

• He shared how his Tesla drove him to a restaurant, stopped for a family of ducks and parked by itself.

• He will support whatever Elon decides about a possible SpaceX and Tesla combination.

• He praised Elon’s curiosity, engineering skills and ability to attract the world’s best talent.

• He said reusable rockets have reduced launch costs from $18,700 per kilogram to around $1,500, while Starship could lower the cost to just $100 to $150.

• He called Starlink “the internet for the entire planet,” with no dead areas on land, at sea or in the air.

• He predicts Starlink could grow from 15 million to 300 million customers and expand to 100,000 satellites.

• He expects governments, businesses, mobile users and AI agents to create massive demand for Starlink.

• He believes satellite internet and direct-to-phone service could completely change the traditional telecom industry.

• He said AI agents working around the clock will require huge amounts of internet capacity and computing power.

• He expects data centers to begin operating in space by 2027 or 2028.

• He calls the orbital AI computing opportunity “Starmind” and believes it could become many times bigger than Starlink.

• He also discussed Tesla and SpaceX producing chips, energy and massive computing infrastructure.

• He said inflation causes prices to double about every 14 to 15 years, making long-term investing essential.

• His final prediction: Baron Capital could make hundreds of billions of dollars from Elon Musk’s companies over the next 10 years.