Here’s the deal: Federal regulators just announced that Musk’s private space tourism company, SpaceX, will no longer receive nearly $900 million in subsidies that it was awarded last year because the company “failed to demonstrate that [it] could deliver” the internet service it promised.
Let’s rewind for a minute.
The bet seems to have backfired, as the FCC is yanking the subsidies back, saying that the Starlink service is “still developing technology” and that its speeds have been declining, my colleague Jackie Wattles reports.
SpaceX didn’t respond to a request to comment, as is typically the case at companies run by Musk.
Part of Elon Musk’s whole idiosyncratic-visionary-mega-billionaire persona (whether you believe in it or not) is that he runs multiple companies with lofty ambitions — like colonizing Mars, in SpaceX’s case.
Even if you find his antics — the overpromising, the troll-y tweets, the reckless…