SpaceX’s Musk Says StarLink Won’t Compete With Telcos

StarLink will focus on the 3% to 4% of people who are hard to reach by telcos, instead of competing with them, said SpaceX CEO Elon Musk Monday at Satellite 2020. He said satellite broadband is a vastly bigger revenue possibility for the company than its launch business. He said there's no plan to separate the StarLink business from SpaceX and the focus is "not going bankrupt." Growing low earth orbit broadband investment has driven some ground equipment mergers and acquisitions over the past year. The next big wave will be satellite operator-related consolidation, maybe in the form of operators buying operators or buying other parts of the supply chain, said Quilty Analytics Senior Vice President-Investment Banking Justin Cadman.