maybe in about 2 years time, they just got seed money, and still have
to design, build and launch these LEOs.  Plus design build and sell
the modems/services.

but it's a very interesting concept, using non-geosynchronous low (and
fast) flying objects to relay comms.

http://www.circleid.com/posts/o3b_satellite_internet_project/

has a diagram.

-- 
Cheers,

McTim
mctim.blogspot.com
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