SpaceX Wireless Ambitions Rattle AT&T, Verizon, T-Mobile
Elon Musk put America's wireless giants on notice this week: SpaceX is coming for their business. On SpaceX's earnings call with Wall Street analysts late Tuesday, Musk reaffirmed the company's plans to enter the U.S. wireless market — and talked up the opportunity in characteristically massive terms. The SpaceX wireless announcement sent telecom stocks tumbling on Wednesday, even as one of the supposed victims reported earnings that beat expectations. In this article, we break down what Musk actually said, the three paths SpaceX could take into wireless, the satellite-to-phone technology that makes it possible, why the market reacted so violently, how the incumbent carriers are responding, and what it all means for consumers. As always, we separate reported facts from analysis. SpaceX Wireless Plans: What Musk Actually Said The reported facts On SpaceX's earnings call with Wall Street analysts late Tuesday, Musk reaffirmed the company's plans to enter the U.S. wire...