Seth Klarman's hedge fund recently bought $100M worth of Viasat

It will bankrupt Hughes net and is available in places many others arent

I had a broken leg and needed a work from home option a few years ago and my options were limited, but I found the opportunity to do Level 1 tech support for Viasat. It was much more of Customer Service Rep position consisting of bill pay and enabling/disabling services of people not paying or having issues with their service. A LOT of people felt screwed over by them because what they advertised and what they delivered were apparently very different things. It was a constant barrage of people complaining that they paid for download speeds of 'up to 100 mbps' or whatever but the actuality was more like 2 mbps. The customers couldn't stream video or any of the things they were promised. We were trained to upsell them to a new package and even when they agreed, their new package often failed to deliver also.

It sucked tremendously. All day phone queue of 50 calls waiting an hour just to completely and usually legitimately complain about the contract they signed and shitty service the received. They were stuck too, because the contract had very high cancellation fees. I felt dirty after every shift and quit as soon as I was able to walk again. It didn't help that the typical Viasat customer was out in a rural area and didn't have many options.

Apparently, satellite internet still has a ways to go technically before being a good decision. Most of the time their only other option was Hughes Net and they always had a similar experience from them. The people I felt bad for were the uneducated ones that had local, wired options but were misled into going with Viasat and they're 'Super fast, up to 150 mbps,stream Netflix on multiple devices' advertising when they couldn't even pull up Facebook once the service was activated.

That is the exact experience I had with Hughes net.

Shares rallied today after a very upbeat earnings report and letter to investors released yesterday. Seems Klarman may have had good reason for upping his stake.