SATELLITE 2020 Reveals Opportunities
It was quieter than in past years when I visited the Satellite 2020 conference in Washington, D.C., last week.
After seeing other trade shows canceled over the past month, it didn’t surprise me that foot traffic was light.
It seemed to me that my flight — on a route and with an airline I use on an almost monthly basis — was less full than what I typically see this time of year.
Turning back to the Satellite conference. While it was quiet, there was still a lot to see and learn. Sadly, some speakers canceled and some appointments weren’t met.
But the highlight was Elon Musk’s appearance on Monday to answer questions about his rocket development program and growing satellite constellation:
Musk’s answers were slow and methodical… answering everything from questions on SpaceX to if he thought a college degree means anything.
(Spoiler alert: He doesn’t.)
Musk showed his desire to get to Mars before he dies — but he said at this rate they won’t do it unless they innovate at a higher rate.
And while there’s been rumors of Starlink, their satellite internet company, spinning off from Tesla, he expressed that there are no plans of doing it until they can get it to actually work.
All focus right now is on getting everything working ASAP.
Yesterday, SpaceX planned to launch 60 new Starlink satellites. But failed to begin the process because of engine power problems in the rocket.
Their goal is 42,000 satellites in space, and even with this minor setback, they’re well on their way.
Musk is the head of the ship, and he’s relentless in his space pursuit.
Earlier this month it was reported that Musk called an all-hands meeting at SpaceX to find out why the factory wasn’t running 24/7 to build the rocket that would eventually take crew and cargo to Mars.
The kicker is that the meeting was at 1 a.m. on a Sunday.
Insane or innovative genius? Your call…
At Satellite 2020, I had the opportunity for face-to-face meetups with public companies working in the space industry, and they helped me gain a deeper understanding of how this market is going to be segmented. And what to expect over the next few months as operators plan or launch new communications satellite constellations.
Yes, the buzz this year had to be low-Earth-orbiting broadband satellite technology, with Elon Musk’s Starlink leading the way.
But did you know there’s another company out there right on the heels of Musk and Starlink?
It’s already raised $3.5 billion and has launched also launched constellations in direct competition with Starlink.
And with that funding, it’s churning out 1½ satellites per day…
I snagged a picture of a model of the satellite below:
In the meantime, stay healthy and don’t panic. Many excellent stocks are becoming deeply discounted to their true values, particularly in the biotech and technology space.
The market selling will stop eventually, probably sooner than many think. This will provide us with historic buying opportunities, so stay tuned!
To a bright future,