That's also my opinion - it will probably never be profitable - it's a great product, but the economics are not right - and that's why no other provider did this (even though they have the tech).
Let's see what happens once the bubble pops.
Let's see what happens once the bubble pops.
What's the bubble? It's cash-flow positive. All of SpaceX is cash-flow positive--they've been buying back their own shares.
You can argue it's overrated, i.e. customers will drop it after trying it for a while. (Or when a recession forces their hand.) But bubble requires leverage and losses, neither of which SpaceX (or Starlink) have.
As for SpaceX, it's pretty much impossible to know their finances - they don't publish audited accounts. We can just trust what Elon is willing to share with us.
Are you arguing that the demand in Internet connectivity in rural/remote areas is somehow caused by an investment bubble as opposed to a long-term stable need?
I'm saying that I highly doubt the real profitability of SpaceX / Starlink, and we will only see if it's really as good as they say, once the bubble pops and there is no inifinite capital, and maybe some accountability.
What's there to pop?
Sovereign wealth funds and bankers like to talk about their investments even in leaks to Journalists of things under NDA.
SpaceX has audited financials. They're not published, but they leak a lot.
SpaceX isn't leaking their own financials.