Iridium’s First Act: Ambition, Bankruptcy, Then a Strategic Reboot
1998–2001What Happened
Iridium built a pioneering LEO communications constellation and launched into a market that wasn’t ready. The business collapsed into bankruptcy, but the network’s underlying utility survived and re-emerged under new ownership.
Outcome
Financial failure forced restructuring and a new focus on durable demand.
LEO comms proved strategically useful even when consumer economics failed.
Why It's Relevant Today
It’s a reminder that constellations can outlive their first business model — and become strategic infrastructure.
