this post was submitted on 13 Sep 2023
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This is the best summary I could come up with:
SpaceX's Starlink division hasn't come close to meeting customer and revenue projections that the company shared with investors before building the satellite network, according to a Wall Street Journal report published today.
SpaceX President and COO Gwynne Shotwell said in February that Starlink is expected to turn a profit this year.
"The majority of the world's population that the business could serve and that can afford high-speed broadband lives in cities.
In those regions, Internet service is readily available, usually offers cheaper monthly costs than Starlink and doesn't require specialized equipment."
But in public he has stated more modest ambitions for Starlink, pointing out that low-Earth orbit satellite ventures have a history of going bankrupt.
One step forward on profitability is that SpaceX says it is no longer selling Starlink user terminals at a loss.
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