Elon Musk, the CEO of SpaceX and Tesla Motors, has always dreamed big. However, this time he's thinking of changing the internet on an interplanetary scale. According to Gizmodo, Musk wants to provide internet coverage on both Earth and Mars using SpaceX satellite technology.

Business Insider reports that the goal of the project would be to bring low-cost high-speed internet to areas of the world with poor connections and improve global internet speeds in general. 

Musk's plan is to orbit roughly 750 smaller satellites around the two planets. He estimates that by using smaller satellites located close to the Earth, the system could get into orbit cheaply, and also provide a faster satellite internet speed than what's currently available.

Furthermore, Engagdet reports that the satellites' closer proximity to users means speedier internet as signals have lesser distance to travel, so the system could potentially rival optic fiber.

According to Businessweek, Musk stated, "The speed of light is 40 percent faster in the vacuum of space than it is for fiber... The long-term potential is to be the primary means of long-distance Internet traffic and to serve people in sparsely populated areas."

The new project will be operating out of SpaceX's Seattle office, and will start with 60 employees. The workforce is expected to grow dramatically within the next few years - possibly up to over 1,000.  It will probably take more than five years to actualize the project, and will cost the company $10 billion to build the satellites needed.

However, time and money aren't necessarily an issue for Musk, who sees the project as "a long-term revenue source for SpaceX to be able to fund a city on Mars."

What do you think of Musk's latest venture?