We don't hear much about Starlink these days; current space news is mostly focused on Starship and other SpaceX projects. Yet, Starlink has surpassed 1 million users, making it a significant player in today's telecommunications industry, with an annual revenue likely exceeding $1 billion. It is also the SpaceX subsidiary most likely to go public one day, for several reasons, including its business model, which is similar to that of any telecom operator. For now, it targets a niche market—under-served areas, aviation, maritime, etc. However, it is quite likely that one day Starlink will offer its solution to a broader market, such as the mobile telecom sector. Adoption could be massive in my opinion, because competition among operators in most countries has only led to a decrease in service quality. The reason is simple: some operators have monopolies on certain towers, so your choice of operator mainly depends on where you live. No matter which operator you choose, you can be sure there are areas they don't cover because their competitor has a monopoly there. Some towers are shared between operators, but only when there's a mutual interest in avoiding a monopoly in that area. This territorial competition will no longer exist with Starlink. For any operator, the only way to be everywhere will be to have access to space, and currently, the company providing low-cost access to space is SpaceX. When SpaceX achieved the feat of reusable rockets, it actually built its most important competitive advantage in the entire telecom sector. The goal of this publication is to understand the economic stakes related to Starlink, its impact on the telecommunications market, and to present an indirect way to invest in SpaceX through the Destiny Tech 100 fund before the company goes public. Space is an exciting subject and one of the most promising sectors for investors at the moment. Telecommunications is one of the first major markets (excluding research) connected to space, with the potential to create hundreds of billions of economic value in the coming years. In the following sections, you can read:
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Minggu, 14 Juli 2024
Starlink and the Future of Telecommunications
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