SpaceX–Starlink Business & Operations

[Flyaway]

• Maximum Pressure”: The State Department conducted a monthslong campaign to push a small African country to help Musk’s satellite internet company, records and interviews show.
• “Ram This Through”: Working closely with executives at Starlink, the U.S. government has made a global push to help expand Musk’s business empire in the developing world.
• “Crony Capitalism”: Diplomats said the events were an alarming departure from standard practice — because of both the tactics used and the person who would benefit most from them.

https://www.propublica.org/article/trump-musk-starlink-state-department-gambia-africa-pressure

 

[Flyaway]

KYIV - During a pivotal push by Ukraine to retake territory from Russia in late September 2022, Elon Musk gave an order that disrupted the counteroffensive and dented Kyiv’s trust in Starlink, the satellite internet service the billionaire provided early in the war to help Ukraine’s military maintain battlefield connectivity.

According to three people familiar with the command, Musk told a senior engineer at the California offices of SpaceX, the Musk venture that controls Starlink, to cut coverage in areas including Kherson, a strategic region north of the Black Sea that Ukraine was trying to reclaim.

“We have to do this,” Michael Nicolls, the Starlink engineer, told colleagues upon receiving the order, one of these people said. Staffers complied, the three people told Reuters, deactivating at least a hundred Starlink terminals, their hexagon-shaped cells going dark on an internal map of the company’s coverage.

Upon Musk’s order, Ukrainian troops suddenly faced a communications blackout, according to a Ukrainian military official, an advisor to the armed forces, and two others who experienced Starlink failure near the front lines. Soldiers panicked, drones surveilling Russian forces went dark, and long-range artillery units, reliant on Starlink to aim their fire, struggled to hit targets.

As a result, the Ukrainian military official and the military advisor said, troops failed to surround a Russian position in the town of Beryslav, east of Kherson, the administrative center of the region of the same name. “The encirclement stalled entirely,” said the military official in an interview. “It failed.”

Ultimately, Ukraine’s counteroffensive succeeded in reclaiming Beryslav, the city of Kherson and some additional territory Russia had occupied. But Musk’s order, which hasn’t previously been reported, is the first known instance of the billionaire actively shutting off Starlink coverage over a battlefield during the conflict. The decision shocked some Starlink employees and effectively reshaped the front line of the fighting, enabling Musk to take “the outcome of a war into his own hands,” another one of the three people said.

https://www.reuters.com/investigati...e-ukraine-retook-territory-russia-2025-07-25/

 

[martinbayer]

If there were still *any* sense of moral right or wrong in current US political and command structures, commandeering would be a no brainer.

 

[Grey Havoc]

https://arstechnica.com/tech-policy...ants-but-state-governments-arent-cooperating/

 

[publiusr]

Strange how the folks who howled the loudest at a moon rocket that didn’t cartwheel over the Caribbean are silent over Elon’s attempt at grabbing broadband funds—then too, Starship looks to need every buck to fly straight.

Satellites are good. Fiber doesn’t have to worry about re-entry.

 

[martinbayer]

https://www.independent.co.uk/space...aboola&utm_medium=related&utm_campaign=embed1

 

[publiusr]

If I am not mistaken, don't Schmidt apertures need uncluttered skies so their wide fields of view can best detect NEOs?

Young sky watchers today look to now understand what we oldsters faced when the vertical hold went out--that or plates/CCD data looking like every cat on Earth used them as scratching posts.

 

[Josh_TN]

Question: where/how does Starlink downlink to the rest of the world? I assume that SpaceX has its own downlink sites that handle this?

 

[exclaimedleech8]

With SpaceX's market capitalization now reaching almost $3 trillion on revenues of only $18 billion, I am reminded of this wise advice from Warren Buffett:
"Periodically, financial markets will become divorced from reality – you can count on that. More Jimmy Lings will appear. They will look and sound authoritative. The press will hang on their every word. Bankers will fight for their business. What they are saying will recently have “worked.” Their early followers will be feeling very clever. Our suggestion: Whatever their line, never forget that 2+2 will always equal 4. And when someone tells you how old-fashioned that math is --- zip up your wallet, take a vacation and come back in a few years to buy stocks at cheap prices."

 

[BlueAbyssal]

Their revenues are substantially higher than that, given their contracts with Google and Anthropic, their purchase of Cursor, and the recent multibillion-dollar deals they’ve signed with the military. Market capitalization isn’t solely about current revenue, it’s also about future growth potential.

 

[exclaimedleech8]

Their revenues are substantially higher than that, given their contracts with Google and Anthropic, their purchase of Cursor, and the recent multibillion-dollar deals they’ve signed with the military. Market capitalization isn’t solely about current revenue, it’s also about future growth potential.

Yes, but the growth implied by their market cap is simply ridiculous.

 

[Halcyon66]

SpaceX reported $18.67 billion in annual revenue alongside a net loss of $4.94 billion heavily weighed down by Starship R&D and AI investments.

Now they have just dropped 60 bil to buy Cursor, as Grok has been a disaster as Musk pushed out all 10 of his xAI co-founders within two years. They then rented out Colossus because they were not using it, burning money.

Google and Anthropic pay about 2.2 bil a month, until something else comes along.

Google paid about $900 million for a SpaceX stake in 2015 that is now worth roughly $140 billion and also holds close to 14% of Anthropic and a majority of Waymo, basically two of the hottest names in AI and robotaxis. The twisted web we weave. AKA circular financing.........

Goldman Sachs who led the IPO, based its numbers on xAI revenue growth and has now said xAI revenue will go to 322 bil by 2030, musk says 1 tril in the same period.

Goldman pitched the SpaceX IPO as an AI play (some starlink) and little else.

And their AI track record has been a shocker, that also eats cash non-stop.

Could the space aspirations fall away just like Telsa?

Regards,

 

[exclaimedleech8]

Here's the market share of all the different LLMs. See Grok in black and note that its share has not grown at all since it launched.

 

[Forest Green]

Unsurprising, Grok is a stupid ar5e.

 

[exclaimedleech8]

Unsurprising, Grok is a stupid ar5e.

Exactly, and yet Elon claims that by 2030 SpaceX will be earning $1 trillion in revenue because of it

 

[BlueAbyssal]

View attachment 815561
Here's the market share of all the different LLMs. See Grok in black and note that its share has not grown at all since it launched.

It’s a good thing SpaceX has the flexibility to buy Cursor and rent out compute, then, isn’t it? You seem determined to see only what you want to see, which will trip you up when you try to evaluate others, as you leave yourself with only one tool-their supposed irrationality-to understand them.

 

[Forest Green]

Exactly, and yet Elon claims that by 2030 SpaceX will be earning $1 trillion in revenue because of it

Only if there's a lot of inauthentic behaviour on the stock market.

 

[BlueAbyssal]

Yes, but the growth implied by their market cap is simply ridiculous.

What’s the value of two largely untouched worlds? Both the Spanish and French largely ignored North America compared to the British (look at the number of Frenchwomen compared to Englishwomen who went to the colonies, for example), and held largely extractive mindsets, with only small settlements there. Starlink has a ways to go before they hit their TAM. Starfall is emerging, and the first test launch will go up soon. Pharmaceuticals themselves are a huge industry. Mining asteroids for PGMs is also a market that can net them billions—corporations here on Earth have already told a competitor, AstroForge, that they will take all the platinum they can get. The demand is unrelenting. Perhaps AI is a bubble, but it’s looking more like the bubble of the early Internet, which saw significant growth once poor performers were weeded out, than something like pet rocks.

So long as your own money isn’t invested, I think this is a win-win scenario for you. If they succeed, the US benefits enormously. If they don’t, you get to say ‘I told you so.’ Until then, why not sit back and enjoy the ride?

 

[galgot]

What’s the value of two largely untouched worlds? Both the Spanish and French largely ignored North America compared to the British (look at the number of Frenchwomen compared to Englishwomen who went to the colonies, for example), and held largely extractive mindsets, with only small settlements there. Starlink has a ways to go before they hit their TAM. Starfall is emerging, and the first test launch will go up soon. Pharmaceuticals themselves are a huge industry. Mining asteroids for PGMs is also a market that can net them billions—corporations here on Earth have already told a competitor, AstroForge, that they will take all the platinum they can get. The demand is unrelenting. Perhaps AI is a bubble, but it’s looking more like the bubble of the early Internet, which saw significant growth once poor performers were weeded out, than something like pet rocks.

So long as your own money isn’t invested, I think this is a win-win scenario for you. If they succeed, the US benefits enormously. If they don’t, you get to say ‘I told you so.’ Until then, why not sit back and enjoy the ride?

I’m sure even people poor enough they can’t invest in these marvels will « enjoy the ride » :
Possible impacts on global economy of an AI bubble crash :

A sharp fall in stock market valuations, potentially as much as 30 per cent, comparable to the COVID-19 crisis, with a knock-on effect across the entire economy. The ‘Magnificent Seven’ (Microsoft, Alphabet, Meta, Apple, Amazon, Nvidia, Tesla) dominate the S&P 500, and their collapse would affect many retail investors and funds exposed to these stocks . https://www.allianz-trade.fr/blog/le-boom-de-l-ia-05-2026.html

Hundreds of billions of dollars’ worth of investments could be wiped out, resulting in massive losses for portfolios that are overexposed to AI stocks and thematic ETFs. Investors might turn to more defensive sectors, but the impact would be systemic if other vulnerabilities (debt, leverage) were present. https://blog.nalo.fr/risque-bulle-ia/

Unlike the dot-com bubble of 2000, when households and the banking system were spared, the AI bubble is centred on dominant players that are deeply integrated into the real economy. A collapse could therefore weaken key sectors (finance, healthcare, industry) and trigger a wider crisis, particularly if it coincides with other shocks (semiconductor shortages, geopolitical tensions, etc.). https://blog.calipia.com/2026/05/05...leclatement-nest-pas-a-mon-avis-une-fatalite/

In summary the bursting of the AI bubble in 2026 or later could lead to:
A stock market crash (of up to 30 per cent) and massive losses for investors, and non-investors due to the crisis spreading to the whole economy.
A systemic risk to the global economy, particularly if other vulnerabilities (debt, shortages) come into play.
Disproportionate social impacts on precarious workers worldwide.

But anyways, who cares about precarious workers as they are not "adventurous" enough to conquer untouched worlds. The others will do fine, as in previous crisis, no worries.

 

[exclaimedleech8]

What’s the value of two largely untouched worlds? Both the Spanish and French largely ignored North America compared to the British (look at the number of Frenchwomen compared to Englishwomen who went to the colonies, for example), and held largely extractive mindsets, with only small settlements there. Starlink has a ways to go before they hit their TAM. Starfall is emerging, and the first test launch will go up soon. Pharmaceuticals themselves are a huge industry. Mining asteroids for PGMs is also a market that can net them billions—corporations here on Earth have already told a competitor, AstroForge, that they will take all the platinum they can get. The demand is unrelenting. Perhaps AI is a bubble, but it’s looking more like the bubble of the early Internet, which saw significant growth once poor performers were weeded out, than something like pet rocks.

So long as your own money isn’t invested, I think this is a win-win scenario for you. If they succeed, the US benefits enormously. If they don’t, you get to say ‘I told you so.’ Until then, why not sit back and enjoy the ride?

It's interesting you bring up the Age of Exploration, because that time also had its own memestocks
https://en.wikipedia.org/wiki/South_Sea_Company

 

[BlueAbyssal]

In summary the bursting of the AI bubble in 2026 or later could lead to:
A stock market crash (of up to 30 per cent) and massive losses for investors, and non-investors due to the crisis spreading to the whole economy.
A systemic risk to the global economy, particularly if other vulnerabilities (debt, shortages) come into play.
Disproportionate social impacts on precarious workers worldwide.

Forgive me, but I am not inclined to take French sources very seriously, given what the French are presently doing to their own economy. The trillions governments printed have been far more catastrophic for the poor than the AI bubble popping would be.

But anyways, who cares about precarious workers as they are not "adventurous" enough to conquer untouched worlds. The others will do fine, as in previous crisis, no worries.

I generally find it’s the people who bring up workers the most who care the least for them, except as a tool to weaponize against others. The best way to improve their lot is to continue the expansion of industry and the economy, so that a century from now what we consider wealth will be considered poverty by them.

 

[exclaimedleech8]

The New York Times says Musk is considering merging SpaceX into Tesla. Much as I enjoy the vibes of big diverse companies with long lists of subsidiaries and have been sad to see Honeywell, GE, and Johnson and Johnson get torn apart, this does not seem like a sign of confidence.
https://www.nytimes.com/2026/06/17/...e_code=1.q1A.B-Na.tDvWVoFg9377&smid=url-share

 

[publiusr]

But anyways, who cares about precarious workers as they are not "adventurous" enough to conquer untouched worlds. The others will do fine, as in previous crisis, no worries.

He's an ideological purist. He will not stop until everyone who works on SLS (the Moon rocket that works) is out of a job...but ignores mil-spending bloat...I guess NewSpace USSF funding isn't pork in his eyes. Penny wise, Pound foolish.

The only time "the little guy" ruined things for hedge fund types was Wall Street Bets.

Now I will say this...Tesla and Falcon didn't destroy Mom&Pops and bookstores the way Walton and Bezos did. That was de facto redistribution of wealth.

Falcon was something new in the world, and upset the suits at ULA (good), but Starship seems like it is just a drain on resources, thus an IPO with other people's retirement funds entangled it it.

In my book--that is no different than a tax...Rand-Speak notwithstanding. NASA is a fine example of government that works--and that threatens the worldview of NewSpace religionists..

SLS has tax dollars behind it...but this IPO is ALSO a way of using other people's money to build space capability.

Every dollar of Apollo got a 7-to-1 return without the caprices of Wall Street. Tax cuts are more of a wash--especially Dubya's. Tax cuts and mil-spending are budget busters, with folks trying to balance the budget by killing things that work--or by trying to balance the budget on the backs of the poor.

Voodoo economics.

 

[galgot]

Forgive me, but I am not inclined to take French sources very seriously, given what the French are presently doing to their own economy. The trillions governments printed have been far more catastrophic for the poor than the AI bubble popping would be.

Poor argument really. The first link is from Allianz, which is a german investment firm, the others are French, because it's my mother tongue, I had the courtesy of translate it for you, but there are dozens, hundreds of other sources in various languages saying the same thing. Nothing to do about how a specific country is doing.

I generally find it’s the people who bring up workers the most who care the least for them, except as a tool to weaponize against others. The best way to improve their lot is to continue the expansion of industry and the economy, so that a century from now what we consider wealth will be considered poverty by them.

Well you brought up that "win-win scenario" fable, knowing very well yourself that if there is a AI bubble burst, the most vulnerable economically will suffer. But the billionaires creating that very bubble right now, for the greatness of humanity of course, will do very well.
So don't BS us with that "win-win scenario" please. I'm just reminding you some will suffer in case of a AI bubble burst, and these are not your heros brigging wealth and happyness to us poor peasants.

 

[BlueAbyssal]

Poor argument really. The first link is from Allianz, which is a german investment firm, the others are French, because it's my mother tongue, I had the courtesy of translate it for you, but there are dozens, hundreds of other sources in various languages saying the same thing. Nothing to do about how a specific country is doing.

I appreciate you doing so, but again, the trillions governments have printed is far more destructive to the poor than bubbles.

Well you brought up that "win-win scenario" fable, knowing very well yourself that if there is a AI bubble burst, the most vulnerable economically will suffer. But the billionaires creating that very bubble right now, for the greatness of humanity of course, will do very well.

I was speaking specifically of exclaimedleech. Unless he’s impoverished, which is unlikely if he has the time and inclination to post here, he is unlikely to suffer from the AI bubble. The billionaires will likely lose the most, as the bubble popping would mean the devaluation of their stocks to near-worthlessness, evaporating their paper wealth. Also, we’re presuming it will be a bubble. It might, but so was the early Internet, and yet the Internet is a bigger part of our lives than ever.

So don't BS us with that "win-win scenario" please. I'm just reminding you some will suffer in case of a AI bubble burst, and these are not your heros brigging wealth and happyness to us poor peasants.

There is not a single change in the economy in the history of mankind, in any economic system ever envisioned, where not a single person has suffered. Utopia is not possible, and never will be. Capitalism is no utopia, but it’s far less bad than every other system we’ve tried. And again, you didn’t understand I was speaking to exclaimedleech specifically. I was not making a broader claim. Also, heroes. Lol. No, CEOs aren’t heroes. Kindly stop making assumptions about what you feel I must think.

 

[TMA1]

*Suddenly secretprojects has gone 88mph a few years into the past... Marty, being a Republican party ideologue from his days on family ties makes a politically charged post*

~~~~~~

Some of these wokey democrats are real ideological purists. No room for opposing views. Just shows the danger of unchecked bureaucratic bloat...

https://spacepolicyonline.com/news/...zing-nasa-with-diversity-climate-initiatives/

~~~~~~

*An eccentric man with futuristic wrap around sunglasses bursts into the scene*

Hey Marty, we gotta go back!

*Both of them jump into their funky space-time delorean and zap back to the future, spewing a trail of fire in their wake*

 

[shin_getter]

The difference is that if you give other billionaires money, they'd trust fund their kids, build over sized buildings in expensive places and maybe get a boat if not giving it to africans.

While Elon fully attempts immortal martian emperor with his money.

Investing in him is like going out on colonial expeditions of the past. The average grunt is likely going to face new diseases never known by civilized peoples, get attacked by savages and end up in random places thanks to storms, while all the riches won is hoarded by the leaders.

But, but, even the average man have a chance of being a part of history. For that dream, people are willing to pay.

Frankly, people that care about shareholder value knows what to look for. This is more like an alternative to sports betting and pure consumerism. In a era where god is dead, it is sad that the transcendental have to be this, but beggers can't be choosers.

 

[publiusr]

I do think much more of Elon than Warren Buffett...after hearing his cuty-pie remark about how he wished Orville Wright had been shot down--my opinion is that the only purpose Warren Buffet serves is to pay taxes to better men.

Same with the majority of the tech bros.

Elon is a space advocate...that forgives much. I don't care that Spiro Agnew or Tom Delay were crooks.

The Mondales and Proxmires of the world...are as vile to me as that rich so-and-so that hurled a rock at a monk seal. Elon's just wore earphones and listened to....never mind.

 

[Jemiba]

The distance, this discussion has reached from the original topic probably can be measured in AU only !
Sociopolitical, ethico-political and moral discussions are somewhat (?) out of the scope of this forum, always vulnerable to getting personally … and the tone already has deteriorated here, too.
I don’t want to discourage such discussions per se, but would ask you, to have it via PM, or mail, or whatever isn’t a public discussion here.
I‘m not that sure, that this theme can be reliably answered using publicly available sources anyway ….
So, if there are aquisitions, mergers, or other transactions related to SpaceX, it’s ok to post it here, perhaps comparisons to other companies, too.
But debates about socio-economical principles should be held elsewhere, please.

 

[Archibald]

As usual, everything that touches Musk is a poisoned chalice, and this thread is probably doomed sooner rather than later.

 

[Halcyon66]

The average SpaceX buyer post-IPO is almost under water after two-day slide

https://www.cnbc.com/2026/06/18/the...s-almost-under-water-after-two-day-slide.html

The reversal underscores how quickly sentiment has shifted following the company’s blockbuster debut. After briefly pushing SpaceX’s market value close to $3 trillion, investors have begun reassessing whether the stock’s rapid advance can be justified by fundamentals.

I guess time will tell..................

Regards,

 

[publiusr]

Oh, look
https://arstechnica.com/information...-investors-in-china-secretly-acquired-stakes/

A businessman with ties to Chinese military contractors was among the overseas investors who acquired stakes in SpaceX while it was still a private company. An entity linked to the Qatari royal family also took a stake.

The new details come from a private investor list obtained by ProPublica that sheds light on a particularly delicate issue for Elon Musk’s rocket company: which people in countries like China bought into the company, and how. SpaceX built its business off sensitive US government work like making spy satellites for the Pentagon. While there is no ban on Chinese investment in US military contractors, such investment is heavily regulated.

 

[exclaimedleech8]

SpaceX stock has fallen 2 days in a row. Just wait for more shares to become unrestricted

 

[Halcyon66]

How much of Musk’s wealth comes from government help? Virtually all of it

https://edition.cnn.com/2026/06/13/business/musk-trillionaire-government-tesla-spacex

Regards,

 

[BlueAbyssal]

What a nonsense article. They make a dramatic claim in the headline, and then admit that they have no idea but it still must be true. It’s a hit piece intended to please people who only read headlines.

 

[Forest Green]

What a nonsense article. They make a dramatic claim in the headline, and then admit that they have no idea but it still must be true. It’s a hit piece intended to please people who only read headlines.

I agree with your response. The guy's a bit of a tw@t but I doubt the government is responsible for his wealth, certainly not most of it.

 

[BlueAbyssal]

Yeah. We can, and should, acknowledge that government contracts helped out SpaceX at key times. But this isn’t an Elon Musk thread, it’s a SpaceX finances thread.

 

[Byeman]

I do think much more of Elon than Warren Buffett...after hearing his cuty-pie remark about how he wished Orville Wright had been shot down--my opinion is that the only purpose Warren Buffet serves is to pay taxes to better men.

Same with the majority of the tech bros.

Elon is a space advocate...that forgives much. I don't care that Spiro Agnew or Tom Delay were crooks.

The Mondales and Proxmires of the world...are as vile to me as that rich so-and-so that hurled a rock at a monk seal. Elon's just wore earphones and listened to....never mind.

That is idiotic. Being a space advocate is not a get out jail card.
Stewart Nozette was a spy but since he did space related work it is ok?

 

[Byeman]

A lot of misinformation and disinformation here.

He's an ideological purist. He will not stop until everyone who works on SLS (the Moon rocket that works) is out of a job...

Based on what?

.Falcon was something new in the world, and upset the suits at ULA (good), but Starship seems like it is just a drain on resources,

Why is ULA bad and SLS good? Same companies operate both

thus an IPO with other people's retirement funds entangled it it.

In my book--that is no different than a tax...

Wrong, Investments are optional and taxes aren't

NASA is a fine example of government that works--and that threatens the worldview of NewSpace religionists..

You keep saying this but where is the proof? Hard evidence please. And not just a few outliers, you need to prove it is systemic across the whole group.

SLS has tax dollars behind it...but this IPO is ALSO a way of using other people's money to build space capability

No, it is a sinkhole and doesn't a return on the money "invested".

I too can make outrageous analogies.
SLS is just SNAP but for a different income class and specific congressional districts.

 

[Halcyon66]

Jio Platforms eyes low-orbit satellite rollout as Starlink awaits India launch

https://www.cnbc.com/2026/06/19/jio-platforms-low-earth-orbit-satellites-starlink.html

India had effectively frozen approvals for Musk’s space-based internet service Starlink to begin commercial operations, Bloomberg reported last week, citing security concerns. However, Lauren Dreyer, vice president of Starlink business operations at SpaceX, said the story was misleading in a post on X.

“Starlink remains in active and productive discussions with the Government of India,” Dreyer said in her post.

Sure they are...............

Also, the EU and numerous other countries are actively developing or will be utilizing sovereign, homegrown satellite internet to ensure digital independence and security.

Regards,