“And it was certainly entrepreneurship that led Motorola to launch its Iridium project. Motorola spent $5 billion to put 66 low earth satellites in orbit so that anyone could phone anytime from anywhere with a Motorola phone. Unfortunately, the satellites spend 70 percent of their time over our planet's oceans and are not usable for much of their life (unless perhaps you're adrift in the middle of the Atlantic), the phones, while they may work from the top of Mount Everest, don't work indoors, in the shadows of buildings or under trees (early demos of the system enjoined purchasers to "make sure the phone is pointed at the satellite"), the service's monthly cost was high, the phones are huge and every major metropolitan area already has cheap and reliable cellular systems. In other words, there was no market for Iridium. After the last satellite was launched the system quickly went bankrupt. Despondent Motorola stockholders, watching the value of their shares plummet as Iridium crashed and burned, suggested sending up the project's marketing and engineering team in rockets without spacesuits to join their orbiting financial debacle, but current law forbids this. You would think an excellent company with entrepreneurial instincts would notice that 70% of the earth's surface is water.”