Why SpaceX's spectrum deal has mobile carriers on edge

AT&T (T), Verizon (VZ), and T-Mobile (TMUS) all move lower on news that Elon Musk's SpaceX (SPCX) struck a deal for low-band spectrum, signaling a move into the telecom business. The 8:30 hosts Julie Hyman, Pras Subramanian, and Jake Conley break down what it might mean for competition and why there are still barriers to entry. Video Transcript 00:00 Speaker A Remember that mobile ad slogan when a while ago, Can you hear me now? 00:04 Speaker C Yes. 00:04 Speaker A Can you hear me now? Well, now the mobile operators can hear SpaceX now. 00:09 Speaker B They can hear us. They can hear the music. 00:10 Speaker A The news here, SpaceX purchased a swath of low-band spectrum.