WHY I KEEP THINKING I DON’T OWN ENOUGH $ASTS So what does AST SpaceMobile actually do? When you hear “space-based internet,” the default comparison is Starlink. But while both beam data from orbit, they’re building entirely different businesses at different layers of the telecom stack. AST SpaceMobile is building the first space-based cellular broadband network designed to connect directly to unmodified smartphones. Every major telecom has spent decades pouring billions into towers, fiber, and spectrum, and yet half the world still lives with patchy or nonexistent service. ASTS cuts around that model altogether, launching satellites with massive phased-array antennas that act like orbiting cell towers, delivering broadband straight to the device in your pocket. No dishes. No satellite phones. No new hardware at all. For carriers, this means coverage expansion without more capex. And after this quarter, it’s clear the company is moving from narrative to execution: manufacturing...