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Adhering to brand, SpaceX CEO Elon Musk made wildly ambitious promises during his newly IPO’d company’s first-ever earnings call Tuesday, declaring that Starlink will “deliver a majority of the world’s internet” in “less than 10 years.”
Musk and his team have a ways to go — Starlink currently traffics less than 1% of the world’s binary resources, according to Ookla, with the majority of data running through undersea and terrestrial cables.
Meanwhile, investors — who seemed to bend to Musk’s will as recently as June — don’t seem to be buying any of the bombast, either. With SpaceX spending $15.828 billion from April - June on AI compute infrastructure, SpaceX stock fell some more this week. The company’s stock is down 31% since its record-breaking IPO.
Share prices are also down more than 27% YTD for Musk’s other company, Tesla, which reported Q2 numbers on Wednesday.
But whatever — when you’re the dynamic rich guy who’s single-handedly going to make humanity a multi-planet species, you don’t get bogged down in the small stuff.
Carnival barker’s gonna bark.
Musk made it pretty clear this week that from your mobile device to your home Wi-Fi connection, from your preferred social platform to the AI you use at home and at work, from your car to the robots who manufactured it, he wants control of all of the connectivity.
Think of it this way: It’s less pie-in-the-sky than saying, “We’re headed to live on Mars in a couple of years.”
