Editor’s Note: Over the next two years, we’ll be hosting a series of GoFly Master Lectures where industry experts share advice, insights, and answer questions from anyone interested in participating in the GoFly Prize.

For the latest in our series of “Master Lectures,” we welcome Carl Dietrich, co-founder and CEO of Terrafugia. Dietrich received his BS, MS and Ph.D. from the Department of Aeronautics and Astronautics at the Massachusetts Institute of Technology (MIT) shortly after receiving the prestigious Lemelson-MIT Student Prize for Innovation in 2006. Dietrich was also recognized by the Aero/Astro Department at MIT as one of sixteen exceptional graduates under the age of 35.

In addition, Dietrich has received “40 Under 40” awards from the Boston Business Journal and Aviation Week & Space Technology Magazine. He has spoken internationally and is generally regarded as the leader of the emerging modern flying car industry. He has been a private pilot since the age of seventeen.

In this video, he shares the story of his company, Terrafugia.