Verizon says SpaceX needs up to 8 years and a half trillion dollars to compete in wireless
Source: Business Insider ·
Verizon's CEO said he's assuming SpaceX will flawlessly execute its US ambitions, but those goals will require massive capital commitments.
From the source
Verizon's CEO says SpaceX's Starlink faces some significant technical and financial hurdles to compete at scale in the US.Zamek/GVN/VIEW press/Corbis via Getty ImagesVerizon's CEO says he assumes SpaceX will flawlessly execute its US ambitions — but he's not worried.In order for Starlink to compete, it will still need a lot of land-based infrastructure.That building could require SpaceX to spend a half trillion dollars over up to eight years, he said.In business, as in war, the safest bet is often to avoid underestimating your competitors, even when the odds appear to be in your favor.Verizon CEO Dan Schulman says he's a student of that philosophy when it comes to Elon Musk's ambitions to develop SpaceX's Starlink into a significant US network player."Clearly, the tech and the wireless landscape is rapidly evolving, and we need to rapidly evolve along with that," he said during the company's third-quarter earnings call Monday. "I also operate under the assumption that everything…
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