> if it was competitive, wouldn't G&S be using it to contact the London stock exchange?
They will, but no such satellite network currently exists. Right now, all of the satellite internet services are using satellites in high orbits. That means they can cover more of the Earth's surface per-satellite, and the satellites last a long time. This was necessary when rocket launches cost >$10,000/kg.
SpaceX is drastically lowering the prices of launching satellites ($1k-$2k/kg, Starship will probably be <$500/kg), and they are taking advantage of that by launching thousands of satellites into LEO (Low Earth Orbit). These satellites will have a 5-7 year service life, which will reduce the cost per satellite and allow for regular upgrades via replacement.
Newer hardware and lower altitudes means less latency and more bandwidth than previous satellites. It will definitely beat transatlantic fiber on latency, but bandwidth will be more limited.
They will, but no such satellite network currently exists. Right now, all of the satellite internet services are using satellites in high orbits. That means they can cover more of the Earth's surface per-satellite, and the satellites last a long time. This was necessary when rocket launches cost >$10,000/kg.
SpaceX is drastically lowering the prices of launching satellites ($1k-$2k/kg, Starship will probably be <$500/kg), and they are taking advantage of that by launching thousands of satellites into LEO (Low Earth Orbit). These satellites will have a 5-7 year service life, which will reduce the cost per satellite and allow for regular upgrades via replacement.
Newer hardware and lower altitudes means less latency and more bandwidth than previous satellites. It will definitely beat transatlantic fiber on latency, but bandwidth will be more limited.