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So if we all stop buying Starlink … the music stops?
Good to know.
Unlikely, he’s been running it a loss for years now, propped up by his money, his billionaire mates’ money and some launch contracts in addition to Starlink.
This is the reason he’s building in terms into the IPO that prevent him being ousted - public companies making losses are at risk of board shakeups, he’s making sure that isn’t possible before the float launches.
He doesnt care if twitter or spaceX lose money, they’re valuable levers to get what he wants
He’s not been spending his money, he’s been spending vc and govt contract money. And the VC money is drying up, that’s why he’s opened it up to IPO.
How will that enable his stay in power? I have no clue how stuff like this works.
He will own around 80% of the shares, so he’ll have plenty to sell off to enrich himself or use to borrow against down to 50.01% and he maintains control. So he gets a huge influx of cash from the ipo to use and he gains a wider calculation of wealth headed towards being the first trillionaire. This will absolutely put him over the edge into that status.
By 2027,many countries will have launched alternatives to Starlink. Canada’s goes up in the fall.
Honda is now launching recyclable rockets.
Europe too.
SpaceX will end up like Tesla, losing out to better competition.
You’re buying starlink?? Better set up your own point to point wifi link
P2MP wireless service is often oversubscribed. Starlink provides competition in the space which has required incumbents to pull up their socks. But anywhere that p2mp is used, fibre could be installed. It’s not got that much range. There’s applications for p2mp but if it’s an ISP, run the fibre.
However, it’s pretty difficult to do p2p wireless to a ship without bouncing through space. There are a lot of really good applications for LEO satellite internet but it is a tragedy that it’s not something humanity can get together to build as a common service, but rather it is the property of a couple billionaires.
Running fiber is really expensive, and even if you are willing to invest the capital, getting access to utility poles or permission to put a trench through someone’s property is arduous, maybe not even possible in some cases.
Don’t get me wrong, it would be great if we had more fiber infrastructure in more places, it does provide societal benefit, but it’s not necessarily viable to do if motivated by generating profits alone
So things would be going kinda well comparatively if he’d not arbitrarily merged twitter into it?
And even when they float, the shares won’t get the power to get rid of the person causing the problem?
This might end up being hilarious
Explains the subscription drive they’ve been putting on at Starlink. Multiple tiers, a price increase, and free hardware.
X and xAI should be considered gross violations of fiduciary responsibility.
Anthropoc committing $1.5 billion a month is neat. Do they even have that in revenue yet? Or is it another bullshit AI accounting trick.
Musk has a horrible track record of accomplishment. He attracts moron boomer investors like flies to shit.
My understanding is that Anthro is paying all this money to musk because they didn’t go crazy with speculative purchasing like openai did.
Anthro waited until they had users and subscriptions (and money) and now that they’ve got these and are trying to meet demand, xAI are one of the only games in town with lots of idle capacity (I guess due to the fact that grok is an unwanted step child lol).
Anthro waited until they had users and subscriptions (and money) and now that they’ve got these
They are incinerating investor cash at a slightly less absurd rate than OpenAI, but make no mistake that they are the opposite of profitable.
All of these supposed deals between these “ai” companies are theoretical handshake “deals” that they’re magically claiming as revenue when no actual money changes hands.
SpaceX would absolutely remain private if they had the option. Elon said a million times that he regrets taking Tesla public and intended to keep SpaceX private forever to avoid investor scrutiny and pesky government regulations.
The only reason they are going public is to pass on the debt to stupid investors, because they don’t have any more money after folding in two loser companies in a last-ditch effort to keep them afloat. Once public, it wouldn’t surprise me if Tesla and SpaceX magically announce a merger, given that only one of those companies makes money (for now).
Oh for sure. I hope Ed Zitron unpacks it. I don’t care enough to figure out the bullshit.
“For context, 200 companies in the S&P 500 had more revenue last year than did SpaceX. This includes Tesla, whose sales were five times higher.”
But Tesla is “selling” cybertrucks to SpaceX.
Revenue is so useless without context of profit. Now companies are advertising revenue swapping. So. Dumb.
The fact that they didn’t even mention this in the article seems very lazy reporting.
I thought this was common knowledge among in the tech community.
Yeah the whole reason they started starlink was to take in some profit
“Everyone”
You don’t say!
And it even mentioned the hot air balloon Tesla which is overvalued by at least a factor of 10 of not 100
I’ve been saying this for years already; all Elmo Musk companies are bullshit companies
SpaceX got 3 billion dollars to get the US to the moon. They burned through that and got zero results. Those shit starship rockets barely reach LEO empty, and they never got any of the other hardware ready. If I do that, I’d go to jail for theft or something, but here? Meh…
Repeat after me: Elmo Musk is a command, every word out of his mouth is a lie, and that is how he got rich. Well, Lucky with rich parents, lucky with a company buy out, and lying lying lying
Huh, I thought the SpaceX part of SpaceX was profitable. We all know the goal of Starlink was to jumpstart a satellite market that required Starship, plus pay for it, but I assumed profit in the regular launching business plus government development contracts
