BREAKING: Elon Musk Is OUT – Stunned…

Elon Musk has been turned down.

Musk asked for $885.5 million from the FCC, but they denied him the funds.

“Elon Musk’s SpaceX was recently denied a bid for $885.5 million in aid through the Rural Digital Opportunity Fund by the FCC,” reports Breitbart.

Musk is OUT

“The subsidy was to support Elon Musk’s Starlink satellite internet, but the agency said Musk’s company ‘failed to demonstrate’ that it could fulfill its promises,” Breitbart reported.

According to the FCC, the broadband provider “failed to demonstrate” that it could actually provide the services it claimed.

“Jessica Rosenworcel, the chair of the FCC, said that Starlink had ‘real promise’ but said that the agency could not justify 10 years of subsidies for ‘developing technology,’ that requires users to own a $600 satellite dish,” Breitbart reported.

“She noted that the FCC was working to make the most of ‘scarce’ funding for broadband expansion,” reported Breitbart.

According to Breitbart, “SpaceX’s FCC subsidy denial is not necessarily a major blow to the company’s plans, but it appears that Elon Musk’s long-running method of financing private companies with government subsidies may not continue to work as well as it has in the past.”

What do you think about the FCC denying Musk these funds?

Share your thoughts below.

Source: Breitbart

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