Elon Musk’s SpaceX loses $900 million in US government subsidies

The space company SpaceX has lost nearly $900 million in subsidies from the United States government because the federal regulator found its Starlink satellite communications system too slow.

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The Federal Communications Commission considers Starlink a “still evolving” technology and doubts that it will be able to deliver the service it claims to be.

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“After a thorough legal and technical review, we are rejecting the application. We cannot afford to subsidize enterprises that do not deliver the promised speeds or do not meet the requirements,” commented representatives of the commission.

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It was also noted that Starlink connection speed was getting slower from the last quarter of last year to the second quarter of 2022.