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STARLINK satellite internet service gets 500,000 preorders, Musk says

STARLINK satellite internet service gets 500,000 preorders, Musk says

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BYD, a Chinese EV manufacturer, approaches the United States with caution

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Saturday, April 1, 2023
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STARLINK satellite internet service gets 500,000 preorders, Musk says

STARLINK satellite internet service gets 500,000 preorders, Musk says

GRUENHEIDE, GERMANY - SEPTEMBER 03: Tesla head Elon Musk talks to the press as he arrives to to have a look at the construction site of the new Tesla Gigafactory near Berlin on September 03, 2020 near Gruenheide, Germany. Musk is currently in Germany where he met with vaccine maker CureVac on Tuesday, with which Tesla has a cooperation to build devices for producing RNA vaccines, as well as German Economy Minister Peter Altmaier yesterday. (Photo by Maja Hitij/Getty Images)

More than 500,000 pre orders have been received by SpaceX, for its Starlink satellite internet service. Founder Elon Musk stated that there are no technical problems anticipated meeting the demand.

Responding to a post from a CNBC reporter that said the $99 deposits SpaceX took for the service were fully refundable and did not guarantee service, Musk tweeted that, only limitation is high density of users in urban areas. He also said that more of a challenge when they got into the several million user range.

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A date is not yet set for Starlink’s service launch by SpaceX. As it had previously planned, commercial service would not likely be offered in 2020. There is a plan by the company to eventually deploy 12,000 satellites in total. The company also quoted that Starlink constellation will cost it roughly $10 billion.

Building and sending rockets to outer space is a capital-intensive business, but two of the world’s richest men, Amazon (AMZN.O) founder Jeff Bezos and Musk, who is also the chief of automaker Tesla Inc. (TSLA.O), have invested billions of dollars over the years to make inroads in this market. They have sparred publicly over the competing satellite plans.

SpaceX’s plan to deploy some Starlink satellites at a lower earth orbit than planned has been approved by the U.S. Federal Communications Commission (FCC). And also a number of conditions have been included to ensure the plan’s safety. SpaceX agreed to accept that their satellites may encounter interference from satellites deployed under Amazon’s Kuiper Systems satellite project.

Tags: Elon MuskInternetStarlinkTechnology
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BYD, a Chinese EV manufacturer, approaches the United States with caution

BYD, a Chinese EV manufacturer, approaches the United States with caution

BOJ resists market expectations for policy changes, pushing the currency down

BOJ resists market expectations for policy changes, pushing the currency down

Data shows that US inflation cooling

Household wealth anticipation has declined, claim by global poll

Support measures push Japanese corporate bankruptcies to 50 year low

How is the bond yield controlled in Japan?

BOJ’s Kuroda signals readiness to extend pandemic-aid scheme

Policy takes the u-turn; BoJ’s yield curve may slip

Asia shares falls on worries over inflation, Fed outlook

Stocks are calm ahead of a possible CPI hurricane

Global Business Review Magazine

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

Recent News

  • BYD, a Chinese EV manufacturer, approaches the United States with caution
  • BOJ resists market expectations for policy changes, pushing the currency down
  • Household wealth anticipation has declined, claim by global poll
  • How is the bond yield controlled in Japan?
  • Policy takes the u-turn; BoJ’s yield curve may slip

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