Tesla Inc CEO Elon Musk plans to list SpaceX’s space internet business Starlink several years into the future when revenue growth is fluid and predictable.
“The public market * doesn’t * like erratic cash flow haha,” the billionaire entrepreneur tweeted on Monday. Musk said last year that Starlink was a significant new source of revenue for its California-based space exploration technologies, or SpaceX.
SpaceX president Gwynne Shotwell launched the idea in February of running Starlink for an IPO in the coming years.
, Reuters reported.
Musk, in his tweet, also said he was a “big fan” of small retail investors and would make sure they got top priority.
US military plans to use Musk’s Starlink satellites
Meanwhile, it was reported that the U.S. military was planning to use Musk’s Starlink satellites for better navigation as a GPS alternative.
Musk sent over 700 Starlink satellites that would provide broadband connection to almost everyone in the world, including the most remote places. Starlink, a division of SpaceX, will provide thousands of additional satellites to complement the Low Earth Orbit (LEO) constellation. However, the US military believes it may have a side offer that would see a nearly tamper-proof navigation system.
Compared to the US Army’s Global Positioning System (GPS), Starlink’s mega constellation can be an inexpensive alternative. Considering that the Starlink satellites will be in LEO â ???? 550 kilometers (341 miles) above Earth â ???? it has a clear advantage over GPS which has 30 satellites orbiting 20,000 kilometers away.
The distance from the surface makes it a difficult choice because by the time the signal reaches Earth, it loses strength. With minimal interference, it can overwhelm the signal, disrupting navigation service. In addition, signals can be falsified or scrambled.
(With Reuters entries)