SpaceX faces tougher Starlink growth ahead of IPO

SpaceX is heading into its IPO with Starlink as its main profitable business, but the company is facing signs that growth may become more difficult. The satellite internet service has more than 10 million customers, but average revenue per user has declined as the company expands. The article says SpaceX is pushing Starlink into more urban and suburban markets, where it will compete more directly with traditional broadband providers. That could make pricing more sensitive and increase the chance of customer churn. SpaceX is also depending on its Starship rocket program to launch newer Starlink satellites and expand capacity. Those rockets are still being tested, and the company has spent billions developing them, adding uncertainty to its plan to scale Starlink further.