Elon Musk isn’t being honest about Starlink profitability
Known fabulist Elon Musk might have been a bit too optimistic about his satellite internet company Starlink being in “profitable territory.”
Bloomberg reported that Starlink “often strips out the hefty cost of sending its satellites into space to make the non-public numbers look better to investors” and has actually at times lost hundreds of dollars on each terminal it’s shipped.
So in other words, it’s deducted an integral cost of making its products work to make it look good.
Bloomberg’s unidentified sources called the company’s accounting “more of an art than a science” and say it’s not actually profitable in any real sense.
So in other words, it’s deducted an integral cost of making its products work to make it look good.
Bloomberg’s unidentified sources called the company’s accounting “more of an art than a science” and say it’s not actually profitable in any real sense.
