This is... interesting but not really the answer to the more interesting question. SpaceX undoubtedly dominates launch capacity today. It's basically the sole success in an industry that seems fundamentally uneconomical and the way it's acheived that is through government subsidy and Elon Musk's unparalleled fund raising. But I don't think that there's much of a moat here, hardware companies find this time after time - by building an incredible product what you're partly doing is training a team of engineers how to build that amazing product and those engineers can and will walk out the door and find a job down the street. Will SpaceX face strong competition within the next 18 months? Nah. 5 years? Probably. 10? Definitely. It's like Tesla, Tesla pioneered electric vehicles, but today it's not alone in the market, it's not even arguably the biggest player anymore.<p>What I'm far more interested in is... is there an actual market here? So far SpaceX makes money out of government subsidy, and Starlink. So to a large extent it is it's own biggest customer and because it's private it's difficult to really reason about it.<p>Like yeah, it looks really good for your rocket company if you have a customer that has to fire 1,000 new satelittes into orbit each year, that's going to make a tonne of volume. But it does kind of raise the question: Does that look like a great business from the internet service provider viewpoint?<p>How much capacity can you provide with these satellites? How often do they need replacing? And whose going to pay for satellite internet service?