VZ · News · 20261102N

Competition and New Entrants

VERIZON COMMUNICATIONS INC · 2026-11-02 · Importance 18 · Surprise 24

Verizon CEO Dan Schulman said the company will compete “ferociously” with SpaceX if it enters mobile service. Schulman argued that SpaceX would need to invest hundreds of billions of dollars in a terrestrial network to compete fully, and that building such a network would take years. Separate reporting said Verizon and other major U.S. carriers turned down SpaceX’s requests to use their networks for its own mobile service as SpaceX explores a Boost Mobile deal or network access through EchoStar.

Key facts

• According to the video transcript, AT&T and Verizon said no to SpaceX's request for mobile-service capacity. source
• According to the Washington Post, Verizon was among the three largest U.S. carriers that reportedly turned down SpaceX's approach about launching its own wireless phone service through Boost Mobile. source
• According to the Washington Post, Elon Musk asked Verizon's head to let SpaceX use Verizon's network for its own mobile service, and Verizon said no. source
• Verizon CEO Dan Schulman said Verizon will compete “ferociously” with SpaceX's plans to turn Starlink into a major mobile carrier. source
• Verizon CEO Dan Schulman said SpaceX would need to invest hundreds of billions of dollars to build a terrestrial network to truly compete, and that the process would take years. source
• Verizon shares surged 13.4% over the past year. source
• Morningstar described Verizon as facing ongoing competition risks from SpaceX. source