Starry is a Boston ISP that is claiming a going public value of $1.5 billion on 48,000 subscribers. That’s about 1% of the homes passed. They’ve spent over $200 million.

Its implicit business proposition is that about 1 in 5 cable homes will switch to wireless in the next five years and that a substantial share will choose Starry over T-Mobile, Verizon, and others.

I originally wrote “That’s about as likely as MySpace reclaiming the #1 position in web music.”

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