Elon Musk's SpaceX has put 10,000 satellites into orbit to create the global satellite internet constellation Starlink. It has already transformed telecommunications and battlefield communications. How much further will it grow? Read the new @bismarckanlys Brief:

Starlink beams high-speed internet around the globe, accessible to anyone with a little dish or even an unmodified smartphone. Since launching a few years ago, it has already reached 10 million customers and counting, growing fast.

Starlink already now makes up a majority of SpaceX revenue and profit, making the company highly profitable. Its key advantage is in giving remote and rural areas far from telecom infrastructure reliable and fast connectivity. This includes, importantly, battlefields.

But there are fundamental physical constraints on satellite telecommunications that will limit Starlink's future growth and usefulness. These limits will shape SpaceX's strategy as it faces new competitors and inform Musk's strategy in the wider AI race.