News
SpaceX Starlink Gen2 constellation weakened by “partial” FCC grant
More than two and a half years after SpaceX began the process of securing regulatory approval for its next-generation Starlink constellation, the US Federal Communications Commission (FCC) has finally granted the company a license – but only after drastically decreasing its scope.
In May 2020, SpaceX filed its first FCC license application for Starlink Gen2, an upgraded constellation of 30,000 satellites. In the second half of 2021, SpaceX amended its Starlink Gen2 application to take full advantage of the company’s more powerful Starship rocket and further improve the constellation’s potential utility. Only in December 2021 did the FCC finally accept SpaceX’s Gen2 application for filing, kicking off the final review process.
On November 29th, 2022, the FCC completed that review and granted SpaceX permission to launch just 7,500 of the ~30,000 Starlink Gen2 satellites it had requested permission for more than 30 months prior. The FCC offered no explanation of how it arrived at its arbitrary 75% reduction, nor why the resulting number is slightly lower than a different 7,518-satellite Starlink Gen1 constellation SpaceX had already received a license to deploy in late 2018. Adding insult to injury, the FCC repeatedly acknowledges that “the total number of satellites SpaceX is authorized to deploy is not increased by our action today, and in fact is slightly reduced.”
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
That claimed reduction is thanks to the fact that shortly before this decision, SpaceX told the FCC in good faith that it would voluntarily avoid launching the dedicated V-band Starlink constellation it already received a license for in order “to significantly reduce the total number of satellites ultimately on orbit.” Instead, once Starlink Gen2 was approved, it would request permission to add V-band payloads to a subset of the 29,988 planned Gen2 satellites, achieving a similar result without the need for another 7,518 satellites.
In response, the FCC slashed the total number of Starlink Gen2 satellites permitted to less than the number of satellites approved by the FCC’s November 2018 Starlink V-band authorization; limited those satellites to middle-ground orbits, entirely precluding Gen2 launches to higher or lower orbits; and didn’t even structure its compromise in a way that would at least allow SpaceX to fully complete three Starlink Gen2 ‘shells.’ Worse, the FCC’s partial grant barely mentioned SpaceX’s detailed plans to use new E-band antennas on Starlink Gen2 satellites and next-generation ground stations, simply stating that it will “defer acting on” the request until “further review and coordination with Federal users.”

Throughout the partial grant, the FCC couches its decision to drastically downscale SpaceX’s Starlink Gen2 constellation in terms of needing more time “to evaluate the complex and novel issues on the record before [the Commission],” raising the question of what exactly the Commission was doing instead in the 30 months since SpaceX’s first Gen2 application and 15 months since its Gen2 modification. In comparison, SpaceX received a full license for its 7,518-satellite V-band constellation less than five months after applying. SpaceX’s 4,408-satellite Starlink Gen1 constellation – the first megaconstellation ever reviewed by the modern FCC – was licensed 16 months after its first application and eight months after a modified application was submitted.
Adding to the oddity of the unusual and inconsistent decision-making in this FCC ruling, the Commission openly acknowledges that the idea to grant SpaceX permission to launch a fraction of its Starlink Gen2 constellation came from Amazon’s Project Kuiper [PDF], a major prospective Starlink competitor. The FCC says it agreed with Amazon’s argument, stating that “the public interest would be served by taking this approach in order to permit monitoring of developments involving this large-scale deployment and permit additional consideration of issues unique to the other orbits SpaceX requests.”
The V-band Starlink constellation already approved by the FCC was for 7,518 satellites in very low Earth orbits (~340 km). In the first 4,425-satellite Starlink constellation licensed by the FCC, the Commission gave SpaceX permission to operate 2,814 satellites at orbits between 1100 and 1300 kilometers. Increasingly conscious of the consequences of space debris, which would last hundreds of years at 1000+ kilometers, SpaceX later requested permission in 2019 and 2020 to launch those 2,814 satellites to around 550 kilometers, where failed satellites would reenter in just five years. For unknown reasons, the FCC only fully approved the change two years later, in April 2021.
The “other orbits [requested by SpaceX]” that the FCC says create unique issues that demand “additional consideration” of Starlink Gen2 are for 19,400 satellites between 340 and 360 kilometers and 468 satellites between 604 and 614 kilometers. Starlink satellites are expected to be around four times heavier and feature a magnitude more surface area, but the fact remains that the FCC has already granted SpaceX permission to launch almost 3000 smaller satellites to orbits much higher than 604 kilometers and more than 7500 satellites to orbits lower than 360 kilometers. It’s thus hard not to conclude that the Commission’s claims that a partial license denial was warranted by “concerns about orbital debris and space safety,” and “issues unique to…other orbits” are incoherent at best.
Perhaps the strangest inclusion in the partial grant is a decision by the FCC to subject SpaceX to an arbitrary metric devised by another third-party, for-profit company LeoLabs. In a March 2022 letter, LeoLabs reportedly proposed that “SpaceX’s authorization to continue deploying satellites” be directly linked to an arbitrary metric measuring “the number of years each failed satellite remains in orbit, summed across all failed satellites.” The FCC apparently loved the suggestion and made it an explicit condition of its already harsh Starlink Gen2 authorization, even adopting the arbitrary limit of “100 object years” proposed by LeoLabs.
In other words, once the sum of the time required for all failed Starlink Gen2 satellites to naturally deorbit reaches 100 years, the FCC will force SpaceX to “cease satellite deployment” while it “[reviews] sources of satellite failure” and “determine[s] whether there are any adequate and reliable mitigation measures going forward.” The FCC acknowledges that the arbitrary 100-year limit means that the failure of just 20 Starlink satellites at operational orbits would force the company to halt launches. The Commission does not explain how it will decide when SpaceX can restart Starlink launches after a launch halt. SpaceX must simultaneously follow the FCC’s deployment schedule, which could see the company’s license revoked if it doesn’t deploy 3,750 Starlink Gen2 satellites by November 2028 and all 7,500 satellites by November 2031.
Based on the unofficial observations of astrophysicist Jonathan McDowell, SpaceX currently has more 30 failed Starlink Gen1 satellites at or close to their operational altitudes of 500+ kilometers, meaning that SpaceX would almost certainly be forced to stop launching Gen1 satellites if this arbitrary new rule were applied to other constellations. The same is true for competitor OneWeb, which had a single satellite fail at around 1200 kilometers in 2021. At that altitude, it will likely take hundreds of “object years” to naturally deorbit, easily surpassing LeoLabs’ draconian 100-year limit.
In theory, the FCC does make it clear that it will consider changing those restrictions and allowing SpaceX to launch more of its proposed Starlink Gen2 constellation in the future. But the Commission has also repeatedly demonstrated to SpaceX that it will happily take years to modify existing licenses or approve new ones – not a particularly reassuring foundation for investments as large and precarious as megaconstellations.
Ultimately, short of shady handshake deals in back rooms, the FCC’s partial grant leaves SpaceX’s Starlink Gen2 constellation in an undesirable position. For the company to proceed under the current license, it could be forced to redesign its satellites and ground stations to avoid the E-band, or gamble by continuing to build and deploy satellites and ground stations with E-band antennas without a guarantee that it’ll ever be able to use that hardware. There is also no guarantee that the FCC will permit SpaceX to launch any of the ~22,500 satellites left on the table by the partial grant, which will drastically change the financial calculus that determines whether the constellation is economically viable and how expansive associated infrastructure needs to be.
Additionally, if SpaceX accepts the gambit and launches all 7,500 approved Gen2 satellites only for the FCC to fail to approve expansions, Starlink Gen2 would be stuck with zero polar coverage, significantly reducing the constellation’s overall utility. Starlink Gen2 likely represents an investment of at least $30-60 billion (assuming an unprecedentedly low $1-2M to build and launch each 50-150 Gbps satellite). With its partial license denial and the addition of several new and arbitrary conditions, the FCC is effectively forcing SpaceX to take an even riskier gamble with the billions of dollars of brand new infrastructure it will need to build to manufacture, launch, operate, and utilize its Starlink Gen2 constellation.
News
Ferrari Luce sold out for 2027 after design controversy
Ferrari’s first electric vehicle, the Luce, is fully sold out for 2027, according to CEO Benedetto Vigna.
Presenting third-quarter results, he stated: “Everything we plan to sell next year is already fully allocated. Client test drives, scheduled for next year, will help further boost demand. We have no critical issues, neither on manufacturing nor on the demand side. Obviously, the car is more complex because it has many new parts and many new technologies.”
First customer deliveries are expected before the end of 2026, with the model already commanding waitlists despite a turbulent debut.
The Luce is a five-seat, four-door liftback saloon—the longest Ferrari ever produced—powered by four electric motors producing approximately 1,035 horsepower.
It features an 800-volt architecture, a 122-kWh battery, a claimed WLTP range of around 329 miles, 0-62 mph acceleration in 2.5 seconds, and a starting price near €550,000 in Europe (roughly $560,800–$615,000 in the U.S. depending on configuration).
Developed in collaboration with Jony Ive and Marc Newson’s LoveFrom studio alongside Ferrari’s own Centro Stile, it represents a deliberate departure from the brand’s traditional mid-engine sports cars toward a more spacious, grand-touring format.
Its exterior has proven deeply polarizing. Unveiled in Rome in May 2026, the design features smooth, sweeping surfaces, a large glass roof, and restrained detailing that critics described as bland, generic, or more reminiscent of an Apple product or mass-market EV than a Ferrari.
Ferrari unveils its Luce EV, and its reception has been a disaster
Online reactions included memes comparing it to a Nissan Leaf or Polestar, while former Ferrari chairman Luca di Montezemolo publicly warned of “the destruction of a myth” and suggested the prancing horse logo be removed. Italian politicians and longtime owners joined the chorus of disappointment, and Ferrari’s shares dropped roughly 8% in a single day, erasing billions in market value.
Design experts noted the absence of the brand’s signature tension, aggression, and emotional drama.
Yet the controversy has not translated into weak demand among the ultra-wealthy clientele who actually buy Ferraris. Production volumes remain tightly limited, as reports suggest fewer than 500 units in the current year and a longer-term pace of roughly 600 annually through 2030, preserving exclusivity.
One early chassis sold for $40 million at auction. Vigna has indicated that seeing the car in person, along with upcoming client test drives, is expected to strengthen rather than weaken interest. Ferrari aims for fully electric models to comprise 20 percent of its lineup by 2030, with a second EV now delayed to 2028.
For a brand defined by scarcity and desirability, the Luce’s sell-out status suggests that among those who can afford it, the polarizing design has not proven to be a commercial liability.
Investor's Corner
Musk’s Tesla and SpaceX decline after Democratic Midterm sweep
Tesla and SpaceX shares fell on Wednesday after Democrats swept both chambers of Congress. The decline stood out as broader market securities recovered and turned positive, while both of Musk’s publicly traded companies lagged.
CEO Elon Musk already joked about the unsuccessful campaigning for the Republicans, but now the new party will make pretty drastic changes to how it handles Tesla and SpaceX, and those companies will adjust their outlook.
Let’s take a deeper look.
Tesla ($TSLA)
Tesla shares traded lower during the regular session after Democrats secured both the House and Senate. The stock was down 2.32 percent at around 1:45 p.m. on the East Coast, trading at around $389.30.
The pressure is tied to more than the raw scale of Musk’s political spending, estimated at $450–474 million this cycle with roughly $224 million directed at Texas. In that state, Tesla now faces a Democratic governor and a Democratic senator after Gina Hinojosa unseated Greg Abbott and James Talarico defeated Ken Paxton.
The Austin Gigafactory, Robotaxi pilot programs in multiple Texas cities, and any related AI compute expansion sit under a new state executive who campaigned against certain corporate subsidies and floated a moratorium on new data-center construction.
Federally, Democratic control of key committees opens the door to deeper examination of Tesla’s autonomous-driving safety record, federal energy-storage and manufacturing incentives, and the national-security implications of any combination with SpaceX.
Investors are also weighing whether the company’s historically close alignment with the prior Republican leadership will invite slower permitting, additional hearings, or tighter rules on Full Self-Driving deployment.
For Tesla, the political shift adds near-term friction around state permitting and federal regulatory approvals for autonomy and energy storage. A potential merger with SpaceX may face slower review even if it proceeds.
Core growth drivers such as vehicle deliveries, energy deployments, and robotaxi rollout remain intact, yet the stock now carries a higher political-risk premium that could weigh on valuation until the company demonstrates workable relationships with the new Texas leadership and congressional majorities.
SpaceX ($SPCX)
SpaceX shares also declined in live trading on November 4 following the Democratic midterm sweep. The stock traded at $134.97, down 4.49 percent. The drop occurred even as broader indexes stabilized, highlighting a company-specific reaction to the election outcome.
Musk’s large contributions, concentrated in Texas races that both companies lost, place SpaceX’s Starbase launch facility and headquarters under a new Democratic governor.
At the federal level, Democratic control of Congress enables greater scrutiny of NASA, the Department of Defense, and other contracts that support a meaningful share of revenue, along with reviews of Starlink national-security uses and any Tesla merger. Analysts have noted that empowered committees can hold hearings and request documents on these relationships.
For SpaceX, the results raise the risk of delayed contract awards, higher compliance costs, and tighter constraints on AI and satellite infrastructure expansion, particularly in Texas where a data-center moratorium has been discussed.
A merger with Tesla could encounter political friction that slows integration of launch, connectivity, and autonomy capabilities.
While Starlink growth and launch cadence continue as primary drivers, the company faces a more contested path for federal funding and state-level operations, requiring management to rebuild ties with the new congressional majorities and Texas leadership to limit the overhang.
News
Tesla registrations in Germany nearly quadruple in October
Tesla’s new vehicle registrations in Germany rose sharply in October, nearly quadrupling from the same month a year earlier. That’s according to data from the KBA, Germany’s federal motor transport authority.
The KBA reported 2,932 Tesla vehicles registered in October, a 290.9 percent year-over-year- increase. For the first ten months of the year, Tesla’s cumulative registrations reached 47,742 units. This number is up 206.1 percent compared with the January-October period of 2025. These gains occurred against a backdrop of strong overall growth in the BEV sector as a whole.
Germany registered 94,086 new BEVs in October, a 79.5 percent rise that brought the BEV share of the passenger car market to 37 percent of the 254,492 total cars registered that month.
🇩🇪 Tesla’s new registrations in Germany nearly quadrupled in October, according to KBA data.
October: 2,932 units, +290.9% YoY Jan–Oct: 47,742 units, +206.1%
Germany’s overall BEV market grew 79.5% to 94,086 units last month. https://t.co/GMwNqsFAOC
— TESLARATI (@Teslarati) November 4, 2026
Despite the percentage surge, Tesla’s absolute numbers left it with a 1.2 percent share of all new car registrations for October. Chinese competitors did record higher volumes, as BYD registered 5,173 vehicles, a 2 percent share, Leapmotor with 3,661 cars, which equates to 1.4 percent, and Xpeng had a 0.5 percent share.
Year-to-date through October, BYD edged ahead of Tesla with 47,961 registrations versus Tesla’s 47,742.
The October results follow a notably strong September for Tesla in Germany, when it registered 12,552 vehicles, an increase of roughly 269 percent year-over-year and one of its strongest monthly totals on record in the country. That month, the Model Y led all EVs and ranked among the top-selling vehicles of any powertrain.
The figures form part of a broader recovery in Tesla’s European registrations after an extended period of softer demand. While monthly volumes remain subject to typical quarter-end patterns and competitive pressure from both established European brands and rapidly expanding Chinese manufacturers, the year-to-date growth indicates improved traction in Europe’s largest car market.
Tesla’s Gigafactory Berlin-Brandenburg continues to supply the region, positioning the company to capture a share of the expanding German BEV market as overall EV adoptions looks to be accelerating.