SpaceX: Ready or not here I come

Whether justified or not, SpaceX is now a structural consideration in telecom and may force its own action-reaction cycle, ultimately enabling SpaceX's entry into wireless unless telecom companies reorient their operating model to protect their moat. While SpaceX's acquisition of low band spectrum last week was not a positive headline for telecom companies, it was also not surprising, and the scale of the sell-off across the entire space was. Technologically, a purely satellite-based wireless service is unlikely to be a competitive offering for a long time;