alt Hacker NewsI know it’s easy to sit at home being indignant at the internet, but how on earth does an ISP with 10M subscribers and the most expensive infrastructure in the solar system ever come out to be worth $300B? They even have to routinely replenish their “cell towers” as their orbits decay.
Any mid-sized country would have multiple cellphone and Internet providers with larger customer bases and less upkeep.
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It's the only ISP that reliably works globally but especially in war zones with zero competitors. How much is your life/sovereignty worth to you?
How much would it cost you to run wires to the northern tip of Greenland and Antarctica? How about the middle of the Pacific? All of Africa? At the end of the day, that is the alternative. If you think normal ISP ground stations don't need maintenance (especially power), you're missing a lot. Also I know people who have cell towers on their property, and they get paid over a hundred thousand a year just for that.
They are pushing business-to-business service too, like ships, airlines, and retail/office backup. Plus smartphones can talk directly to their satellites. A lot of countries will use them for military use. Whether it adds up to a reasonable IPO I can't tell - market irrationality is hard to measure.