Also in this playlist...
This transcript is automatically generated
We joining me now Philip Falcone majority shareholder in late squared and founder of harbinger capital -- felt so let's just take a step back.
This became a national story because congress started to look into with the Pentagon started to say they had concerns about it.
You're main point is that.
This is spent in the work for years and it's really your competition that's now sort of -- -- up opposition to what could be very beneficial potentially to -- Correct this has been going on for years and it's only until recently -- people perceive that we become.
He commercially viable project is when people started voicing there.
Opinions about negativity about about GPS this is not anything new mrs.
It's become a real political issue because of that unfortunately our unit interfere with military GPS an -- airline safety and that's what some people are -- now now that's not the case -- on any concern.
And any interference that does exist.
We've taken a step forward to fix these issues just like in 2003 when you fix the filtering issue.
When this order was given and keep in mind that.
That that we have taken a step to fix that that any interference issue that the GPS or any any other agencies.
Have come forward with.
And have been concerned less than.
These fixes our technology issues it's it's not it's not a physics issue.
-- have but the general this general Shelton who gave testimony congress last week say it's gonna cost billions to protect the military GPS system if you guys go.
-- online are you gonna pay for that I I think that's a lot and that's some misinformation quite frankly.
We have allocated fifty million dollars to two to.
To the various agencies to -- To incorporate the proper filtering that needs to be done He -- at going to be billion it's complete misinformation are right now heat some from.
He's so general Shelton goes before congress last week to say.
-- whole -- because this you know Phil -- big idea may have a lot of potential problems it could.
Put our GPS system our military capabilities even airline safety potentially at risk.
Now He comes out and says that heat that the White House tried to pressure him to massage that testimony -- bit to make it a little bit more favorable.
To light squared.
Now his testimony before you gave it to that congressional.
Hearing was leaked and the only ones who had it where the White House the Pentagon -- O Andy.
Did anyone from any of those administrations or anyone in government.
Give it to light squared prior to the general's testimony absolutely not again it's and it's a piece of misinformation that's out that we didn't have it no one in you know I want you had it -- -- -- delivered nobody.
In the company it's so I don't know where that came from is just people planting things -- the general says you had a wealth -- again is wrong quite frankly.
He's the one -- who says you have -- several reports were leaked.
Or several reports say that it was leaked to you the Daily Beast report that quote officials familiar with the situation say it was leaked to -- -- you say it I absolutely category not sure you didn't have.
Absolutely false you know it's again it's another one of these.
One of these issues were people are really making this a political issue and it shouldn't be a political issue this is a business issue we're trying to build a network and quite frankly.
As it relates to any potential interference.
We think that interference that potential interference is down to a minimum.
And that minimum is gonna be fixed with some various things that we've done in the marketplace so here we are trying to build this network and people are still trying to make.
A political issue out of it which is not which it shouldn't be at all.
Why it -- -- political -- -- you got a general and last week saying hey hours I was pressured by the White House to change my testimony.
And then people started to pay attention do you think the White House why do you think the White House if it -- if the -- the general as He so stated has an interest and that's why would they be doing that while.
I find it hard to believe that they pressured.
Any testimony especially on this topic you know the facts are the facts and either we interfere we don't interfere and if we interfere let's fix the issue and quite frankly if we interfere with national security.
Then it should be fixed anyhow but quite frankly we don't.
So you don't know President Obama you have met -- that Obama died there was this article out about.
Me being classmates with them I have never -- I'm not never went to one of the fund -- That he's ever held and they just I don't know where the stuff comes from.
-- I appreciate you being here at.
I I don't I hope we cleared some things up you know it's sick it's a complicated subject matter but it's made a lot of news lately so why have you given a chance to explain okay thank you very much -- luck.
Filter by section