Elon Musk advocated for it SpaceX’s own Starlink Satellite internet service on Tuesday.
What happened: Musk told Twitter that all previous communications constellations in low-Earth orbit had gone bankrupt.
His claims may not be far-fetched given that three satellite communications companies including Intelsat SA, Speedcast International and OneWeb went bankrupt in 2020 alone, although they have all since emerged from bankruptcy.
The billionaire also noted that Starlink is still a long way from being cash flow positive.
“So any support is super helpful,” he said.
See also: Elon Musk lauds his SpaceX and Starlink ventures for accomplishing these feats
It should be noted that Starlink is still a long way from cash flow positive. All previous LEO communication constellations have gone bankrupt, so any support is super helpful.
— Elon Musk (@elonmusk) October 4, 2022
Musk’s request for support came in response to a tweet from a Tesla influencer citing an article about rural Virginia students receiving Starlink, supported by the $233,000 grant awarded by the Virginia Coalfield Economic Development Authority. Dollar.
Why it matters: Starlink has become a household name in Internet services due to its high-speed connectivity and adaptability to many topographies and situations. When Russia went to war Ukraine and the latter was stripped of connectivity, Musk and Starlink stepped in to restore connectivity. There was praise from all sides for this.
Just last month, the Tesla CEO agreed to enable the service in Iran amid the internal insurgency in the country. The service will now claimed in the Amazon rainforest region, help connect schools there.
However, a recent report suggested that Starlink’s speeds are slowing as more people use the service.
Continue reading: Elon Musk announces a 1 million milestone for Starlink terminals – but the report notes that the surge in user numbers comes at a price
