Today I start with a review of the high points of the XM Radio/Sirius Radio saga, which has important lessons for all of us. The roots of Sirius Satellite Radio date to 1990, when ex-NASA engineer Robert Briskman formed a company called Satellite CD Radio in Washington, D.C. Two years later, American Mobile Satellite Corporation established a unit called American Mobile Radio Corporation dedicated to developing a radio service broadcast from satellites. By 1994, Satellite CD Radio had spent $10 million on development costs, while accumulating a deficit of $9.5 million. That year, the firm made an initial public...
