That's only about 35% more than the main telecom operator here in Belgium (Proximus: $7.2B revenue in 2025, $2.5B market cap, positive earnings for 15+ years).

Obviously Starlink can and will growth. I'm just pointing out how insane the market cap is, when compared to similar scale "connectivity" businesses.

I'm with you the 5B loss for 18B overall revenue shouldn't grant a valuation anywhere near 1.7 trillion.

was just answering the question.