Satellite Internet Access Venture Dead
from the stop-the-iridium-madness dept
It seems like it’s not a tough business proposition to throw a bunch of satellites into space to provide some sort of new service across the globe. Iridium discovered that the hard way. Now, Lockheed-Martin backed Astrolink is giving up before they got very far at all. Of course, companies had already dumped $1.3 billion into the venture that was supposed to provide internet access via satellites. It would seem that any project that would require $4 billion in capital costs before making a dime back in revenue is an extremely risky proposition. Especially in an ever-changing and very unstable market.