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SpaceX Raising $500 Million To Help Build Its 'Starlink' Satellite Broadband Network (cnbc.com)
According to the Wall Street Journal, SpaceX is raising a $500 million round of fundraising to help build its massive satellite internet project, called Starlink. "The new funding puts SpaceX's valuation at $30.5 billion," reports CNBC. "The report says the capital comes from existing shareholders as well as new investor Baillie Gifford, a Scottish investment firm." From the report: Starlink -- a name SpaceX filed to trademark last year -- is an ambition unmatched by any current satellite network. The company is attempting to build its own constellation of 4,425 broadband satellites, with another 7,518 satellites to come after. SpaceX will begin launching the constellation in 2019. The system will be operational once at least 800 satellites are deployed. Starlink would offer broadband speeds comparable to fiber optic networks.The satellites would provide direct-to-consumer wireless connections, rather the present system's redistribution of signals, transforming a traditionally high-cost, low reliability service.
https://arstechnica.com/information-technology/2018/02/spacexs-satellite-broadband-nears-fcc-approval-and-first-test-launch/ says "SpaceX has said it will offer speeds of up to a gigabit per second, with latencies between 25ms and 35ms. Those latencies would make SpaceX's service comparable to cable and fiber. Today's satellite broadband services use satellites in much higher orbits and thus have latencies of 600ms or more, according to FCC measurements."
Despite all the negative publicity surrounding Elon, Tesla, et al, the South African continues to have no trouble attracting capital for new ventures.
We could do much worse betting on a vanguard, since so few seem hellbent on guiding us to a better future outcome.
Happiness in intelligent people is the rarest thing I know.
Ernest Hemingway
Did you realize Solar City was it's own company for 10 years before it was bought by Tesla?