SpaceX is making that majority (70%) of its revenue, and all of its profits from Starlink, and mostly from subscriptions.
98% of government money SpaceX receives is payment for services rendered, which they provide at a significantly lower cost than their competitors.
On the other hand, their competitors are routinely receiving actual handouts. For example, ULA used to receive a $1 billion annual "Launch Capability" stipend essentially just to keep their lights.
alt Hacker News
SpaceX is making that majority (70%) of its revenue, and all of its profits from Starlink, and mostly from subscriptions.
98% of government money SpaceX receives is payment for services rendered, which they provide at a significantly lower cost than their competitors.
On the other hand, their competitors are routinely receiving actual handouts. For example, ULA used to receive a $1 billion annual "Launch Capability" stipend essentially just to keep their lights.