[mike_d]

Iridium and Global Star make the majority of their money from governments supporting custom use cases and working with OEM partners. Starlink might be a viable alternative in 10 years on the next-gen bidding cycle, but not before.

[syedkarim]

That’s a solid point, though I think there is still a shorting opportunity. If they only have 10 years before revenues start to decline drastically, then their value doesn’t increase. It’s possible that the downward revenue spiral starts sooner than 2030. Maybe. Who knows.