Financial Markets

MUSK COMMANDS 2/3 OF ACTIVE SATELLITES: SPACEX'S STARLINK NETWORK ADDS 3 DAILY

Reflecting on an astronomical feat, billionaire tech magnate Elon Musk, through his firm SpaceX, now controls nearly two-thirds—the 7,000th Starlink satellite recently launched—of all active satellites orbiting the Earth. This development amplifies the influence of Musk and his companies, which have been growing their footprint in global connectivity at an unprecedented pace.

Since its first launch in 2019, SpaceX's internet satellite constellation, Starlink, has expanded by an impressive average of three satellites a day. Currently, SpaceX has 6,370 active Starlink satellites in low-Earth orbit, which constitute over 62% of all operational satellites. This remarkable fact leads to an undeniable, but occasionally overlooked, reality—we are living in the era of SpaceX.

To put this in context, the 6,370 SpaceX satellites outflank Starlink's closest competitor, UK-based startup OneWeb, by an incredible ten to one ratio. Irony isn't lost when considering that OneWeb, a subsidiary of French satellite giant Eutelsat, turned to SpaceX rockets to deliver its equipment into space after its planned launches with Russia's Soyuz were canceled due to the Russian invasion of Ukraine.

However, the SpaceX monopoly on the skies does not seem to be slowing down. The company plans to launch up to 42,000 satellites to expand Starlink's capabilities. The goal? Delivering high-speed internet and phone connectivity on a global scale. Already operating in 102 countries, Starlink boasts more than three million customers.

Despite these impressive figures, Musk's growing control of SpaceX and the Starlink network is creating unease among observers. His influence, in many ways, transcends traditional boundaries and nations' ability to regulate.

One such troubling incident occurred in Brazil, where despite the country's ban on Musk's social media platform X, Starlink initially made it available to its customers. However, after a period of defiance, Starlink did comply with the blocking order. This incident, though resolved, shines an alarming light on the sway that Musk holds over global information flow and internet accessibility.

As we increasingly rely on space-based technology for communication and connectivity, questions arise on the concentration of power in this sector. Who controls our satellites effectively governs our access to the digital world. The control Musk exercises, therefore, is not just over a fleet of satellites but over our economy, society, and potentially, our future.

SpaceX's rise signals a shift towards the privatization of space exploration and communication. While this brings access to unprecedented resources and innovation, it comes with legitimate concerns about singularity of power, regulatory challenges, and the potential for misuse or manipulation.

Moving forward, creating robust regulatory frameworks becomes all the more important. It will be essential to strike a balance between allowing innovation to flourish while preventing conflicts of interest, protecting privacy, and promoting fair competition in these next-generation arenas of digital connectivity. As Musk's SpaceX continues to litter the skies with satellites, the importance and urgency of these considerations become all the more palpable. After all, whoever controls the skies, controls our future.