Many people still haven’t realized how insane the data behind SpaceX’s 2026 IPO application is. Everyone’s just watching Starship take off—has no one done the math? Right now, Falcon 9’s launch frequency has averaged out to once every 2 days, and with this scale effect, the gross profit margin for its commercial launches has already exceeded 50%. ​The more critical data point is that Starlink’s ARPU (Average Revenue Per User) remained above $100 in Q1 2026, while ground station costs have dropped by 40%. This means it’s not just a space company—it’s a global telecom giant with insanely high gross margins. This kind of cross-dimensional monopoly has no comparable precedent in human business history.