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SpaceX COO says Starlink had cash-flow-positive quarter in 2022
President and COO Gwynne Shotwell says that SpaceX’s Starlink satellite internet program had a “cash flow positive quarter” in 2022 and “will make money” in 2023.
The update is major news for a program that SpaceX CEO Elon Musk has stated should be considered a success if it merely avoids bankruptcy. Several companies have attempted to build businesses around the concept of a low Earth orbit (LEO) internet satellite constellation. All have failed or gone bankrupt. Motorola pursued a concept called Celestris in the 1990s but eventually gave up and invested in Teledesic. Teledesic eventually went bankrupt and shut down in 2003 after spending the equivalent of $1.85 billion in 2022 dollars. In 2020, OneWeb – the closest to a true Starlink competitor – filed for bankruptcy despite having raised $3.4 billion and begun launching satellites. It was only saved by a $1 billion bailout led by the British government.
Despite pursuing the largest and most ambitious LEO constellations ever proposed, only SpaceX’s Starlink program has managed to avoid bankruptcy. SpaceX began developing Starlink in earnest in the mid-2010s and launched its first satellite prototypes in March 2018 and May 2019. Operational launches followed in November 2019, and SpaceX has since launched an unprecedented ~3540 working satellites on 70 Falcon 9 rockets. More importantly, just two years after opening orders, SpaceX has secured more than a million Starlink internet subscribers.
Adding to its impressive list of achievements, Gwynne Shotwell – a SpaceX executive known for being an excellent manager and voice of reason – says that Starlink has already had its first cash-flow-positive quarter.
The update that's rolling out to the fleet makes full use of the front and rear steering travel to minimize turning circle. In this case a reduction of 1.6 feet just over the air— Wes (@wmorrill3) April 16, 2024
According to Shotwell, that milestone happened sometime in 2022. Thanks to a productive 2021 and the accelerated launch of new Starlink satellites in 2022, continuously expanding network capacity, SpaceX’s subscriber count more than quadrupled between March and December. If Starlink truly did have a cash-flow-positive quarter last year, it likely happened in Q4. However, the nature of cash flow and the ambiguity in Shotwell’s statement are worth some amount of skepticism.
Crucially, cash flow should account for fundraising, which SpaceX does a lot of. In 2022, it closed a $1.7B venture round in May and a $250M private equity round in July, offering opportunities to negate otherwise negative cash flow in Q2 and Q3. If Shotwell means that Starlink had a positive cash flow quarter without accounting for fundraising, the achievement would be highly impressive and indicate that Starlink’s financial health is surprisingly good.
It’s also ambiguous if Shotwell meant that Starlink had a cash-flow-positive quarter in 2022 or if she was referring to the company as a whole. Earlier in her panel at the FAA’s annual Commercial Space Transportation Conference, Shotwell noted that SpaceX’s main product – Falcon rocket and Dragon spacecraft operations – “makes money.” She also said that “the cash flow from those operations basically pay for [Starlink and Starship] development.” External funds are then raised to supplement SpaceX’s profits from Falcon and Dragon.
The ambiguity leaves room for Shotwell’s statement to be interpreted a bit less positively. If SpaceX or Starlink’s cash-flow-positive quarter was contingent upon raising almost $2 billion in one calendar year, Starlink would arguably still be in a financially precarious position. A positive quarter in that context would be more indicative of decent accounting than good financial health.
However, Shotwell’s confident statement that “Starlink will make money” in 2023 was much less ambiguous and suggests that a positive interpretation of her “positive cash flow” comment could be more accurate. For Starlink to “make money” in 2023, the implication is that SpaceX expects annual revenue to exceed expenses – and possibly exceed expenses and external funding inputs.
Either outcome would be excellent. As long as Starlink’s revenue matches or exceeds expenses, the constellation could likely survive even if SpaceX’s access to external capital was partially or fully disrupted. It also bodes well for Starlink’s profit potential. If the Starlink Gen1 constellation is almost sustainable or profitable, the pending introduction of SpaceX’s next-gen Starship rocket and upgraded Gen2/V2.0 satellites could turn Starlink into a money printer.
In November 2021, CEO Elon Musk outright stated that SpaceX faced a “genuine risk of bankruptcy” if it couldn’t start launching Starship and Starlink V2.0 satellites “once every two weeks” by the end of 2022. Fifteen months later, Starship’s first launch is tracking towards March 2023, and there’s a nonzero chance the rocket won’t launch a single Starlink V2.0 satellite this year. Despite falling miles short of Musk’s target, Starlink is instead on the verge of becoming a sustainable business in the mind of SpaceX’s less hyperbolic leader.
Tesla is being sued by the family of the woman who was killed in a Texas crash involving a Model 3. The driver, who is also being sued, claimed the vehicle was operating on Autopilot mode, but Tesla executives have come out challenging that claim, stating that the driver of the vehicle overrode the system.
The lawsuit was filed by 76-year-old Martha Avila’s daughter and her husband, who allege a “design defect” involving a Tesla and a failure to warn. The suit alleges negligence against Tesla and the driver, Michael Butler.
Butler “stated he was operating with an automated driving assistance system engaged at the time of the crash,” the Harris County Sheriff’s Office said in a statement. He showed no signs of intoxication and was cooperative, the Sheriff’s Office said, according to NBC News.
Just after reports of the crash and numerous headlines that immediately blamed Tesla’s Autopilot suite, both Tesla CEO Elon Musk and Head of AI Ashok Elluswamy challenged that. Musk said the crash made “no sense” given that Tesla Autopilot and Full Self-Driving do not travel at the speeds the door cameras captured the car traveling at, which Tesla says was 73 MPH.
Tesla finally clarifies fatal Texas crash, confirms driver manually overrode acceleration
Elluswamy also revealed that Tesla data showed Butler overrode the system by pressing the accelerator to 100%, and that the pedal was compressed fully even after the car had crashed. Tesla has not released this data to the public, likely because it is communicating with agencies like the NHTSA on an investigation.
The suit uses a Washington Post analysis of government data that “identified at least 17 fatal incidents linked to Tesla Autopilot.”
This is far from the first time an accident has been blamed on Autopilot. A fatal crash in Texas was blamed on Autopilot several years ago, but when Tesla released data to the NTSB, which was investigating the crash, Autopilot was not available where the crash occurred, and Autosteer was never enabled, meaning the car was manually controlled at the time of the accident.
“Application of the accelerator pedal was found to be as high as 98.8 percent,” the NTSB said in their findings. The highest recorded speed in the five seconds leading up to the impact was 67 miles per hour. The area where the crash occurred is residential, and Texas State laws… pic.twitter.com/XGD97NHVZ2
— TESLARATI (@Teslarati) March 18, 2026
More information on the accident will be released as Tesla works with agencies to find the cause of the crash. From personal experience, it is hard to imagine Tesla Autopilot or FSD operating in this manner. It drives sometimes too cautiously in residential areas in parking lots, at least in my experience. Speeding happens, but at this rate in this type of area, it is hard to believe.
We look forward to more details being released with time.
The Insurance Institute for Highway Safety (IIHS) has awarded the 2025-2026 Tesla Cybertruck crew cab pickup its highest honor: Top Safety Pick+. This marks the Cybertruck as the only full-size pickup to achieve this distinction in recent evaluations.
The award applies specifically to vehicles built after April 2025, following structural upgrades including front underbody reinforcements and footwell modifications.
These changes enabled strong performance in updated crash tests. The Cybertruck earned “Good” ratings in the small overlap front (driver and passenger sides), updated moderate overlap front, and updated side tests—core requirements for the Top Safety Pick+ designation.
It also secured acceptable or good headlights across trims and a “Good” rating for its standard front crash prevention system in pedestrian scenarios, along with acceptable or good performance in vehicle-to-vehicle testing.
The Cybertruck avoided every single pedestrian collision, including:
- Daytime child crossing
- Nightitime adult crossing
- Night parallel adult
In IIHS pedestrian front crash prevention tests, @Cybertruck avoided every single collision – daytime, nighttime & different angles
It was also the only pickup to earn Top Safety Pick+ (highest award) in 2026https://t.co/BNPqT9TbsW pic.twitter.com/M6nwDisBFK
— Tesla (@Tesla) June 24, 2026
In the large pickup category, competitors such as the Toyota Tundra received only a standard Top Safety Pick, while the Ford F-150 and Ram 1500 did not qualify for either award. This positions the Cybertruck as a standout in occupant protection and crash avoidance among its peers.
Credit: IIHS
Ironically, the same vehicle celebrated for superior U.S. safety performance remains banned from public roads in the United Kingdom and much of Europe. Regulators there cite the Cybertruck’s sharp external edges and highly rigid stainless-steel construction as failing pedestrian-protection standards. European and UK rules require rounded surfaces on protruding parts to minimize injury risk in collisions with vulnerable road users.
Critics also point to the truck’s substantial weight and unyielding body structure, which some argue could transfer more force to other vehicles or pedestrians rather than absorbing it.
Tesla’s engineering philosophy underpins the Cybertruck’s strong IIHS results. The vehicle features a distinctive stainless-steel exoskeleton made from ultra-hard 30X cold-rolled stainless steel. This provides exceptional structural rigidity and a robust safety cage that resists deformation in side impacts and rollovers.
Engineers designed integrated load paths to channel crash forces away from the occupant compartment while allowing controlled energy absorption in key zones. Post-April 2025 refinements to the front underbody further optimized performance in overlap crashes.
Complementing the passive structure is Tesla’s advanced active safety suite, including the standard Collision Avoidance Assist system with automatic emergency braking. This contributed directly to the vehicle’s strong front crash prevention scores. The skateboard platform and low center of gravity also enhance stability and handling, reducing the likelihood of certain crashes.
The IIHS recognition highlights how Tesla’s combination of high-strength materials, structural innovation, and software-driven safety systems can deliver top-tier protection in rigorous testing. While global regulatory differences on design and pedestrian interaction continue to limit the Cybertruck’s availability outside North America, its U.S. safety credentials set a new benchmark for full-size pickups.
Elon Musk
SpaceX’s newest Starmind will make earth data centers obsolete
Elon Musk confirmed Starmind as SpaceX’s AI satellite constellation name, targeting one million orbital compute nodes.
Elon Musk confirmed that Starmind will be the official name of SpaceX’s planned AI satellite constellation, following a trademark filing by xAI that surfaced earlier this week. Starmind is what’s being described to the FCC as a constellation of up to one million AI satellites
It’s worth noting that SpaceX’s Starlink communication satellite and Starmind are built on the same orbital infrastructure concept but serve entirely different purposes. Starlink is a connectivity network, with satellites receiving and relaying data between points on Earth, and functioning as a high-speed internet backbone in space. The satellites themselves do not process or think, and move information from one place to another, the same function a fiber cable performs underground.
SpaceX just forced Verizon, AT&T and T-Mobile to team up for the first time in history
Starmind, on the other hand, is something completely different, and tather than moving data, its satellites would compute data through artificial intelligence and directly in orbit using onboard processors powered by large solar arrays. Where a Starlink satellite is essentially a very fast pipe, a Starmind satellite is a server. The practical implication is that Starmind would allow AI models to run inference, process queries, and generate outputs from space, then beam results down to users anywhere on Earth within milliseconds, and without the data ever needing to travel to a terrestrial data center.
Starship will be able to carry 30 to 50 AI1 satellites per launch, delivering the equivalent of dozens of server racks per flight, with no land acquisition, no power grid approval, and no cooling infrastructure required on the ground.
SpaceX is pursuing this new technology as terrestrial data centers are running into hard limits such as lack of physical space, community opposition, and power and water consumption at a scale that is increasingly difficult to permit. Space has unlimited solar power, natural vacuum cooling, and no zoning boards. Musk said in a June 8 video presentation that he expects space to become the lowest-cost location to deploy AI compute within two to three years. Two AI1 prototypes are scheduled to launch in early 2027, with volume production targeted for the end of that year at a new facility called Gigasat.
The real world applications Starmind enables extend well beyond powering Grok. A constellation of orbiting AI processors could run inference workloads for any paying customer, anywhere on Earth, with latency measured in milliseconds rather than the seconds associated with ground-based cloud routing across continents. Starmind, if it scales as described, would make SpaceX the landlord of AI compute the same way Starlink made it the landlord of satellite internet.
Tesla and driver sued by family of woman killed in Texas crash: what we know
Tesla Cybertruck is officially the safest pickup, IIHS says
