SpaceX's Elon Musk dares to go where others failed with space-based web

By TODD SHIELDS DANA HULL JULIE JOHNSSON

A rendering shows satellite broadband coverage that could be provided by OneWeb's proposed network of hundreds of satellites. (OneWeb)

When Elon Musk's SpaceX heaved two communications satellites aloft last week, he joined a space race that's foiled plenty of other dreamers.

Billions of dollars have vanished in the quest to provide internet service from low-earth orbit. Globalstar Inc. and Iridium Communications Inc. crashed into bankruptcy but are still at it, while another effort folded despite backing from Bill Gates, Boeing Co. and others.

That record hasn't deterred almost two dozen ventures from raising money in an effort to reach broadband users, including many who are out of easy range of traditional mobile services.

"Nothing has changed except the level of hysteria and the level of unrealistic expectations," analyst Roger Rusch, president of the TelAstra Inc. consultancy in Palos Verdes, said. [Read More]