On November 2nd, SpaceX President Elon Musk dropped some news that's out of this world. He proudly declared that the rocket company's Starlink, the satellite internet unit, has finally achieved the elusive income breakeven point.
Elon Musk, our resident space wizard, had boldly claimed in 2021 that Starlink would strut its stuff on the stock market once its revenue resembled something predictably stellar.
Now, let's journey back to 2019 when Starlink was just a twinkle in Musk's eye. Fast forward to today, and it has skyrocketed its satellite army to about 5,000, making it the big cheese of satellite operators and giving traditional players like Viasat and the newly-acquired OneWeb by Eutelsat a run for their space money.
Musk, the man with a mission, took to the virtual stage on X and declared, "Starlink is now the boss of active satellites, and next year, it's going to launch more satellites from Earth than you can count." Okay, maybe not those exact words, but you get the cosmic drift.
But Starlink isn't just a star on the tech stage; it's also a real-life hero. Remember when it helped Ukraine stay connected in the midst of their showdown with Russia? That's right, it's not just beaming cat videos into space; it's also saving the day (Seriously).
And let's not forget about Starlink's role in supporting communication links in Gaza. When the world went dark, Starlink was there to bring light, reconnecting people in the Gaza Strip with the universe and each other.
Elon Musk, ever the showman, is positioning Starlink as the financial powerhouse that will fuel SpaceX's most audacious dreams. These include Starship, a colossal reusable rocket that's set to whisk NASA astronauts to the moon in style.
In the financial galaxy, Starlink saw its revenue skyrocket more than sixfold last year, reaching a staggering $1.4 billion. However, it didn't quite hit the bullseye Musk had in mind. It seems even space isn't far enough for Elon's ambitions.
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