“But our expectation is the vast majority will be sourced through the JV.”

In context

“Srinivasan Gopalan : I'll pick up the D2D piece and then hand off to Peter. Direct-to-cell, it's really a technology that, in many ways, we worked with Starlink to invent. It's the first scale deployment of that. And what we've learned over the last 4 years is it is a complementary category. If you look at our usage in -- the last time I talked about 0.0002% of our network usage. That's 3 zeros and a 2 being on satellite. And in our busiest summer months that went to 0.0003%, right? So it's a really small point as a small percentage of the usage on our network, and it is a complementary service. You know what we always do, right, which was we future cast the direction of this industry and then work back from that to figure out the right strategy for us. For us, it's clear that with time, this is no longer going to be a differentiation. It's going to be table stakes as a complementary service to have satellite along with your cellular service. And that's what drove a lot of our thinking. We think what's at stake now is to make the experience for the customer agnostic of which provider you're, agnostic of which device you are, and to pool spectrum so that we can actually make this a significantly better customer experience, and that's what drove the JV. So looking forward, the JV does allow for individual operators to have conversations and agreements with other parties. But our expectation is the vast majority will be sourced through the JV.”