Beaming cheap internet from space has bankrupted other companies. Here’s how SpaceX plans to survive
5 years, 7 months ago

Beaming cheap internet from space has bankrupted other companies. Here’s how SpaceX plans to survive

CNN  

New York CNN Business — Elon Musk has tepid optimism that his rocket company SpaceX will be the company that delivers cheap satellite-based internet to the masses — finally turning a longtime industry fantasy into reality. Here’s what is known: Musk said last week that SpaceX has “sufficient” funds to get Starlink off the ground -— “but of course if things go wrong and there are unexpected issues, we’d need to raise more capital.” SpaceX brought in nearly $1 billion in two recent funding rounds, bringing the company to a $30 billion-plus valuation. “With any company that’s pursuing such ambitious goals, really making sure investors continue to have confidence in the ability of the company to meet those goals is super important.” The overall health of SpaceX also depends on a big revenue boost for Starlink. Musk said last week that revenue from launch contracts “taps out around $3 billion per year.” Musk has long anticipated that Starlink will bring in far more money, providing a wellspring of funds for Starship rocket development and reaching Musk’s far-out dream of sending people to live on Mars. Shagun Sachdeva, an analyst at Northern Sky Research who studied Starlink’s 10-year outlook, said SpaceX will be “nowhere close” to reaching $30 billion in annual revenue during that time frame.

History of this topic

Amazon reveals UK satellite internet plan
2 days, 16 hours ago
Italy plans $1.6 billion deal with Elon Musk's Starlink for secure government telecom: Report
2 days, 22 hours ago
Elon Musk's SpaceX completes Starlink's direct-to-cell constellation
1 month ago
SpaceX Falcon 9 sends 24 Starlink satellites into orbit, boosting worldwide internet reach
1 month ago
Elon Musk’s Starlink satellite internet not to dominate Jio and Airtel: Know-how
1 month, 1 week ago
Elon Musk's Starlink helped smugglers in Andaman's massive drug haul: All about it
1 month, 1 week ago
Is Elon Musk’s Starlink coming to India soon?
1 month, 3 weeks ago
Elon Musk wants to send 30,000 more Starlink satellites into space - and it has astronomers worried
2 months, 2 weeks ago
Elon Musk’s politics are crashing hard into his business
2 months, 3 weeks ago
Elon Musk’s monopoly on space is alarming internet advocates and astronomers
4 months ago
Keir Starmer appears to bury the hatchet with Elon Musk, bringing Starlink internet into Downing Street
4 months ago
Elon Musk now controls two thirds of all active satellites
4 months ago
Single picture reveals high-tech Starlink trend suddenly appearing at Aussie campsites alongside rise of 'van life' families
4 months, 4 weeks ago
SpaceX's workhorse Falcon-9 grounded, investigation begins
5 months, 3 weeks ago
SpaceX launches first satellites for new US spy constellation
7 months, 2 weeks ago
Musk’s Starlink cracks down on growing black market
8 months, 3 weeks ago
Elon Musk's Starlink likely to get nod for India operations ‘in next few days’: Reports
11 months, 2 weeks ago
Gaza Internet Blackout: Elon Musk’s Starlink Promises To Keep The Internet Running
1 year, 2 months ago
Israel warns Elon Musk against offering communication support to Gaza
1 year, 2 months ago
Elon Musk’s SpaceX Ready To Bring Satellite Internet To Regular Phones In 2024: What It Means
1 year, 2 months ago
Sorry, Elon! The Satellites of the Future Are Heading to Space Right Now
1 year, 2 months ago
Musk Vs Bezos: Amazon takes on Starlink, launches Project Kuiper to beam high-speed internet to Earth
1 year, 3 months ago
Elon Musk congratulates Jeff Bezos on Satellite internet launch success
1 year, 3 months ago
Amazon launches two satellites to compete with Musk’s Starlink
1 year, 3 months ago
Starlink: Why the new sovereign of low-earth orbit is bad news
1 year, 5 months ago
Battle of billionaires: Elon Musk’s Starlink eyes India, Mukesh Ambani resists
1 year, 6 months ago
Starlink can now be used on the move ‘almost everywhere on earth’
1 year, 7 months ago
This European Satellite Giant Is Coming for Starlink
1 year, 7 months ago
China Working To Launch Competitor To Elon Musk's Starlink Later This Year
1 year, 10 months ago
Elon Musk’s Starlink internet-beaming satellites to be used in government trial
2 years, 1 month ago
Explained | Elon Musk’s U-turn on Starlink use in Ukraine
2 years, 2 months ago
SpaceX rolls out Starlink internet service for private jets
2 years, 2 months ago
SpaceX now offers superfast internet to private jets, Elon Musk reveals monthly plan prices
2 years, 2 months ago
Elon Musk says Starlink network in Ukraine has not received U.S. funding
2 years, 2 months ago
SpaceX might keep funding satellite service in Ukraine: Tesla CEO Elon Musk
2 years, 2 months ago
Musk: SpaceX might keep funding satellite service in Ukraine
2 years, 2 months ago
Elon Musk recommits SpaceX to providing Ukraine with satellite internet
2 years, 2 months ago
Elon Musk U-turns, says will keep funding Starlink in Ukraine
2 years, 2 months ago
Elon Musk seeks U.S. funding of Ukraine satellite network
2 years, 2 months ago
Elon Musk suggests he is pulling internet service from Ukraine after ambassador told him to ‘f*** off’
2 years, 2 months ago
Musk seeks U.S. funds for Ukraine satellite network, officials say
2 years, 2 months ago
Musk says SpaceX cannot fund Ukraine’s Starlink ‘indefinitely’
2 years, 2 months ago
Elon Musk plans space internet for Iran after achieving global coverage
2 years, 3 months ago
Starlink had talks with Apple over satellite messaging feature, says Elon Musk
2 years, 3 months ago
Elon Musk’s SpaceX loses Starlink rural broadband subsidies
2 years, 4 months ago
SpaceX Gets The Nod To Offer Starlink Internet On Cars, Trucks And Boats: What It Means
2 years, 6 months ago
U.S. approves SpaceX’s Starlink internet for use with ships, boats, planes
2 years, 6 months ago
SpaceX Signs First deal to Provide In-Flight Internet Service Using its Starlink Satellites
2 years, 8 months ago
SpaceX signs 1st Starlink in-flight WiFi deal with carrier. Why it’s significant
2 years, 8 months ago
Elon Musk says SpaceX will ‘do the right thing’ for UK satellite competitor OneWeb
2 years, 9 months ago

Discover Related