Bond market halted telecom boom, Tren Griffin notes

Bond market halted telecom boom, Tren Griffin notes
Bond market ended telecom bubble

Tren Griffin recalls the end of the telecom bubble, describing how the bond market abruptly halted further expansion by refusing to provide funding, likening it to Roberto Duran’s famous 'no más' moment in boxing.

He emphasizes that cash is essential for business survival and asserts that the collapse was due to an inability to secure liquidity, which suffocated the industry.

Griffin has previously analyzed launch industry economics, noting that SpaceX’s Falcon 9 margins are solid while overall rocket launch revenues lag behind broadband services. He has also detailed how Starlink’s internal Falcon 9 launch costs are substantially lower than retail prices. These earlier assessments focus on the importance of cost structure and funding within high-capital businesses.

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