Minsky Space S***
AST SpaceMobile aims to deliver space-based cellular broadband directly to standard smartphones via large BlueBird satellites and proprietary software. It partners with major telecoms, using their spectrum in a B2B model. However, high CapEx, short satellite lifespan, and strong buyer power pressure margins. Competition from SpaceX, Amazon, and Apple threatens its moat. Despite a compelling vision, its valuation appears overly optimistic given risks and capital intensity.