The early story coming out of states like Tennessee, Colorado, and Texas, where state leaders are being forced to dramatically revamp billions of dollars in Broadband, Equity, Access, and Deployment (BEAD) grant planning, is a move away from future-proof fiber networks toward slower, more expensive satellite options that don’t seem likely to fix U.S. broadband woes. In all three states the changes have introduced new delays and lowered last mile quality control standards. But an early look at the revamped bidding process in all three states shows that millions of dollars are likely being redirected away from locally-owned fiber networks to billionaire-owned low-Earth-orbit (LEO) satellite broadband options insufficient to the task.