Virgin Galactic CEO Richard Branson announced he wants to build a colony on Mars, and live there. He also plans to offer “discounted” 2 hour space flights at $200,000 a seat. Watch the whole CBS interview video to get his take on these and other topics.

Branson says the two-hour flights are just the beginning of his intergalactic efforts. “I think over the next 20 years, we will take literally hundreds of thousands of people to space and that will give us the financial resources to do even bigger things,” he said.