SpaceX Just Made the Internet 95% Cheaper: What the Market Is Missing

In the first quarter of 2026, SpaceX did about $4.69 billion in revenue and roughly 3.26 billion of that, call it about 69%, get it? The IPO is pricing the company at $1.77 trillion, and the careful, very textbook analysis says it's worth $780 billion. At the time of the IPO filing, they had about 10 million subscribers, a number that doubled in a single year, and they're projecting around 17 million by the end of 2026. A Falcon 9 can carry about 17 tons of payload to orbit, and at SpaceX's internal cost of roughly a thousand bucks per kilogram, that's about 17 million dollars to fill up the rocket and launch it. 17 million dollars divided by 2600 gigabits per second of capacity, and Rob runs it out to about $6.55 per megabit per second. Overall, this points to specialized systems and vertically integrated players shaping what comes next far more than surface narratives suggest.

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