Billionaire Carlos Slim cancels $22 billion in Starlink orders due to Elon Musk’s outburst
Billionaire Carlos Slim cancels $22 billion in Starlink orders due to Elon Musk’s outburst
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Summary
Carlos Slim’s telecom giant, América Móvil, canceled $22 billion in planned Starlink orders after Elon Musk insinuated Slim had ties to drug cartels.
The decision, made within hours of Musk’s tweet, costs Musk his main partner in 25 countries and shifts business to Chinese and European competitors, further reducing U.S. commercial influence.
Musk’s increasing political entanglements and conspiracy-laden posts are alienating key business partners and consumers, with potential ripple effects on Tesla sales.
It's nice that Elon is getting hit where it hurts. Hopefully the EU benefits from this.
Shame that he's going to bring the rest of us down with him
I've managed to not lose a single cent from all my others investments combined thanks to the little I had in Eutelsat. I'm for sure reinforcing that one. Also, shorting tesla has been fun, but I don't have the means to do it at a risk safe scale.
After Tesla, starlink should come next (X will die organically) so unfortunate starlink is not public to short.
Wah, good for you!
I'm invested solely in an all-world ETF, so I'm getting hit pretty hard by the market crashes in the US. It doesn't really bother me too much, considering my time horizon, but still.
Good luck with your money!
Feels so good seeing Elon Musk get kicked in the dick.
He is kicking himself in the dick.
Kinda reminds me of Kanye West TBH.
Yesterday someone posted a thread that claimed that was the actual intention. Awfully questionable but it’s a funny enough idea to spread anyway ……
The claim is some economic mastermind in the administration believes our entire problem is interest rates and the dollar is too strong. Ok as far as that goes, but the further claim is all the tariffs, flip flopping, broken contracts are just to persuade countries to kick us in the dick until we feel better. They may not have used those exact words
No, they said it right.
In this case, Elon is mouthing off like a bitch, and someone else kicked him in the dick for it (if it did really happen).
That's really really important, because usually these guys do shit, then no one kicks them in the dick. That's what allows them to continue doing the shit.
I doubt he feels it. Apparently it got broken in failed vanity surgery. So, he is now a chinless, balding, dickless Wonder Boy under all that surgery. One wonders how he got to the belief that his defective genes were the ones that needed propagation.
And here I was feeling good about myself after I canceled an order of 4 units for work. But every magnitude matters, I guess.
EDIT: Because starlink customer support is awful. It is a good product in theory, but because of their lack of service update, such as when they change stuff that affects us, it cannot be relied upon in production environments. And in todays political climate I simply don't want him to get any more money from me. We managed with 2mbit VSAT before, and will do so again.
Honestly, more small orders getting cancelled is also awesome, good on you!
Thank you for your service!
I've never been a customer so this might be a dumb question. What does 4 units represent?
In terms of what? Cost? No idea, that's some other departments problem.
As for use case, it is for outfitting two ships with internet access better than the usual 2-5mbit VSAT. Two antennae each to account for loss of coverage on one antenna due to the superstructure possibly getting in the way.
We use it to improve remote operation of offshore hardware, but starlink isn't as good as it used to be. When first installing it in January 2021 it was great, 150mbit+, but as more and more people bought starlink, performance dropped significantly.
Just when the new EU launcher Ariane 6 is finally fully operational. That's convenient. https://www.reuters.com/business/aerospace-defense/europes-ariane-6-stages-first-commercial-launch-2025-03-06/
I'd be very surprised if OneWeb ever launches on Ariane 6. It is not build for cheap LEO launches at all afaik. But maybe some ride shares, who knows.
The problem is that Ariane 6 is already an obsolete previous-gen design, not one part is reusable. SpaceX is the dominant launch provider for a very solid reason and ultimately the only way to compete with them is going to be to adopt their ideas and methodologies.
Let's bring back being decent to people.
Carlos also cancelled a more immediate $7 billion business plan with Starlink, which makes it closer to 30 billion lost.
Don't worry, Trump is buying a Tesla. That'll make up for it.
Good. Seeing a Nazi face consequences for his actions in real time is so satisfying.
That's an uplifting news
I have some doubts. Only small or weird outlets have any news on this and there is no good original source linked anywhere.
The Canadian Press explains a potential path by which this claim could have arisen, namely that Slim's company América Móvil had stated in an earnings call that they were going to invest 22 billion pesos (! not USD) in infrastructure over three years and they didn't have plans to invest it in Starlink, instead looking more towards two other satellite companies, and only for rural backbones where laying fiber would be more expensive.
I mean, Carlos Slim is not from the USA, so most news were in spanish:
Deserved.
Great news
Good.
lol
I mean he does have ties to drug cartels, but you don't say it
What ties? Can you elaborate?