Visionary entrepreneur Elon Musk is making headlines once again, this time for exploring the potential of Internet satellites.
Musk has been working with former Google Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) executive Greg Wyler on designing small, inexpensive satellites that can provide Internet service worldwide.
The group’s current plan is to launch a fleet of about 700 satellites, each of which would be about half the size of the smallest communications satellites now in operation. Wyler’s startup, WorldVu Satellites Ltd., is looking to build a factory to manufacture the satellites inside the U.S.
The attempt to provide Internet access via satellite is an uphill battle, as past efforts to provide phone service from space initially fell flat. Satellite voice and data provider Iridium Communications Inc. (NASDAQ: IRDM) was forced to work through a bankruptcy in 1999 because the company was unable to absorb the huge cost of launching its fleet of satellites.
Globalstar, Inc. (NYSE: GSAT) suffered a similar fate before re-emerging from bankruptcy in 2003. However, financial backing for Musk’s Internet satellite project could come from a couple of companies with deep pockets.
Both Google and Facebook Inc (NASDAQ: FB) have recently been exploring the use of balloons, drones and other means of extending the reach of Internet service across the globe.
It remains to be seen if Musk’s Internet satellite project will come to fruition, but this idea is just one example of the billionaire’s revolutionary thinking. Four other ways Musk is currently working to change the world include:
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