Saturday, July 2, 2022
  • About
  • Advertise
  • Careers
Scoftware Magazine
  • Home
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Entertainment
  • Login
No Result
View All Result
Scoftware Magazine
Home Tech

Musk ready to invest as much as $30 billion in Starlink

Jaleel M. by Jaleel M.
June 29, 2021
in Tech
0
Musk ready to invest as much as $30 billion in Starlink
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter


Billionaire entrepreneur Elon Musk said on Tuesday that his Starlink venture was growing quickly as he forecast total investment costs in the satellite internet business at between $20 billion and $30 billion.

The Tesla Inc CEO and founder of SpaceX, a rocket ship venture that seeks to colonize Mars, said up-front investment costs before Starlink achieves substantial positive cash flow would be $5-$10 billion.

“It’s a lot, basically,” Musk said in a video interview from California with the Mobile World Congress, the telecoms industry’s largest annual gathering that is being held in Barcelona.

Starlink, an array of low-orbit satellites offering high-speed connectivity for people living in remote areas, is already offering a trial service and says it aims for near-global coverage of the populated world this year.

It now has more than 1,500 satellites aloft and is operating in about a dozen countries, adding more every month, said Musk, forecasting that total customer numbers would reach half a million over the next 12 months, from 69,000 now.

Skeptics question whether satellite internet can ever develop a viable business model, because the main market it targets is people living in remote areas, who are too few in number to support the vast up-front investment costs.

He pushed back against that idea, saying that Starlink could help fill in the gaps in fifth-generation mobile and fibre-optic networks.

“There’s a need for connectivity in places that don’t have it right now,” said Musk.

This story has been published from a wire agency feed without modifications to the text.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!

Topics



Source link

Related posts

This WhatsApp feature allows users to hide unwanted group chats without leaving them. Here’s how

This WhatsApp feature allows users to hide unwanted group chats without leaving them. Here’s how

July 29, 2021
WhatsApp in line for fine as data watchdogs resolve dispute

WhatsApp in line for fine as data watchdogs resolve dispute

July 28, 2021
Previous Post

The developers who don’t code

Next Post

Microsoft’s app store takes the high road

Next Post
Microsoft’s app store takes the high road

Microsoft’s app store takes the high road

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Union Budget 2021: Nirmala Sitharaman should provide tax relief so tourists can spend more

Union Budget 2021: Nirmala Sitharaman should provide tax relief so tourists can spend more

1 year ago
BLR UNITES WITH FVNDAMENTAL ON FUNK INFUSED HOUSE HEATER ‘YOU BRING ME JOY’ –

BLR UNITES WITH FVNDAMENTAL ON FUNK INFUSED HOUSE HEATER ‘YOU BRING ME JOY’ –

2 years ago
Petrol and diesel prices; here’s what you need to pay in your city today on 19 January 2022

Petrol and diesel prices; here’s what you need to pay in your city today on 19 January 2022

5 months ago
Govt new XraySetu on WhatsApp will help detect Covid-19: How it works

Govt new XraySetu on WhatsApp will help detect Covid-19: How it works

1 year ago

FOLLOW US

  • 114 Followers
  • 29.5k Followers
  • 172k Subscribers

BROWSE BY CATEGORIES

  • Business
  • Culture
  • Entertainment
  • Lifestyle
  • Music
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Tech
  • Travel
  • World News

BROWSE BY TOPICS

2018 League Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan Istana Negara Market Stories National Exam Visit Bali

POPULAR NEWS

  • Charles B and Kamil Ghaouti Collaborate on Groovy New Track “You’re Not Mine,” featuring LauraBrown. Out on Protocol Recordings

    Charles B and Kamil Ghaouti Collaborate on Groovy New Track “You’re Not Mine,” featuring LauraBrown. Out on Protocol Recordings

    0 shares
    Share 0 Tweet 0
  • Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    0 shares
    Share 0 Tweet 0
  • Sam Heughan & Graham McTavish Are Men in Kilts for Travel Show

    0 shares
    Share 0 Tweet 0
  • Salted vs. Unsalted Pistachios

    0 shares
    Share 0 Tweet 0
  • Common Saints Release New Single “Idol Eyes”

    0 shares
    Share 0 Tweet 0
  • About
  • Advertise
  • Careers

© 2020 Scoftware.com

No Result
View All Result
  • Home
  • Politics
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2020 Scoftware.com

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Terms and Conditions - Privacy Policy