Verizon CEO Dan Schulman has warned that SpaceX could face enormous costs and a lengthy timeline building a terrestrial mobile network to compete with established carriers, as Starlink expands its satellite-to-mobile services in Canada.
According to Verizon’s third-quarter earnings conference call on Monday, Schulman estimated SpaceX would need between US$300 billion and US$500 billion (C$420.8 billion to C$701.3 billion) over the next seven or eight years to build out a terrestrial network.
Responding to a question from Citi analyst Michael Rollins about Starlink entering the traditional mobile market, Schulman acknowledged SpaceX’s ability to execute its plans.
“I also operate under the assumption that everything SpaceX says they will do, they will do, and that they will execute flawlessly,” Schulman said (via The Motley Fool).
However, he argued that satellite networks cannot match terrestrial infrastructure in densely populated areas, where Verizon generates approximately 98% of its revenue.
Schulman estimated Verizon’s network is between 100 and 1,000 times more efficient in suburban and urban markets.
He said a SpaceX terrestrial network would require between 65,000 and 80,000 macro sites, backhaul including fibre, radio access network equipment, and a large amount of spectrum.
Building that infrastructure would take a minimum of four to six years, according to Schulman, who suggested SpaceX could eventually become the sixth competitor in the U.S. mobile market.
Elon Musk quickly pushed back on that timeline, replying on X on Monday with a brief response: “Will take 2 or 3 years.” Musk did not specify which milestone he was referring to.
@SawyerMerritt @Starlink Will take 2 or 3 years
— Elon Musk (@elonmusk) October 26, 2026
Schulman also ruled out providing SpaceX access to Verizon’s network through a mobile virtual network operator (MVNO) agreement, saying he sees “absolutely no benefit whatsoever” to extending an MVNO deal to any satellite provider.
Despite his competitive stance, Schulman acknowledged satellite connectivity has a role in remote areas and suggested Verizon could work with satellite providers on complementary services.
SpaceX is also reportedly negotiating with U.S. tower operators for access to as many as 80,000 cell sites, while Schulman said upper C-band spectrum is expected to become available in the first half of next year.
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