One of the finest freedoms in the journey of professional life is this: when your identity is no longer chained to your job title, your employer, or the office you report to. True liberation comes when who you are rises above what you do in a workplace. At that point, you begin to understand that your essence is larger than your business card.

Many are imprisoned by borrowed symbols—Chief Executive Officer, Senior Manager, or Analyst. These are important labels, but they are temporary markers in the seasons of professional life. They can be given; they can be taken. But when your personality is anchored on YOU, no company can define you. You carry your own “equity” into every room.

In my experience, the most successful professionals are those whose relevance is not tied to job titles. When people respect you because of your title, the day the title changes, you vanish. But when respect comes because of YOU the person, no restructuring or economic downturn can erase you.

A lady deleted her profile here because she lost her CFO role in a popular fintech which was largely her life. Her life was this fintech and when the job disappeared, she literally could not continue without the associated “title”. That was unfortunate.

Good People, career liberation is resigning from dependence on job titles to shape your self-worth. It is about building depth so that, whether you are called “Intern” or “Chairman,” you remain the same person, delivering and commanding respect. That is the new wealth in this age—the wealth of identity, beyond the walls of companies and offices. When you attain this state, every organization becomes privileged to have you, not the other way round.

Become the definition of your career, not your job title, and through that have the greatest career liberation.

Elon Musk’s SpaceX announced on Monday that it will acquire wireless spectrum licenses from EchoStar for about $17 billion, a landmark deal seen as crucial to expanding the Starlink satellite network into the 5G connectivity business.

The agreement also includes a partnership that will allow EchoStar’s Boost Mobile subscribers to access Starlink’s direct-to-cell service, a move designed to extend mobile coverage into areas that lack terrestrial service.

According to SpaceX, the spectrum purchase will pave the way for the company to build and deploy upgraded, laser-connected satellites capable of expanding network capacity by “more than 100 times.” Gwynne Shotwell, president and COO of SpaceX, said the deal will help the company “end mobile dead zones around the world,” adding that exclusive spectrum rights will allow Starlink to develop “next-generation Direct to Cell satellites” with significantly improved performance.

News of the deal sent EchoStar shares soaring by 19% in early trading, while U.S. wireless carriers AT&T (T.N) and T-Mobile (TMUS.O) fell more than 3%, and Verizon (VZ.N) declined by over 2%.

The push comes at a time of fast-rising wireless usage in the United States. In 2024, Americans consumed a record 132 trillion megabytes of mobile data, an increase of 35% from the previous all-time high, according to industry group CTIA.

Since 2020, SpaceX has launched more than 8,000 Starlink satellites into low-Earth orbit, creating a distributed network that has attracted demand from militaries, transportation firms, and rural consumers. About 600 of those satellites, which the company describes as “cell towers in space,” have been launched since January 2024 as part of its direct-to-cell initiative. These satellites orbit closer to Earth than the rest of the constellation, a crucial step toward mobile service integration.

Deployment of larger satellites remains tied to the success of Starship, SpaceX’s massive next-generation rocket that has been in development for nearly a decade. Increasingly complex test flights have brought Starship closer to its first operational Starlink missions, expected early next year.

The EchoStar deal comes just months after the Federal Communications Commission (FCC) raised questions about EchoStar’s use of its mobile-satellite service spectrum and whether the company was fulfilling its 5G deployment obligations, per Reuters. EchoStar said it expects its transactions with SpaceX and AT&T to resolve those concerns.

An FCC spokesperson welcomed the development, saying the “deals that EchoStar reached with AT&T and Starlink hold the potential to supercharge competition, extend innovative new services to millions of Americans, and boost U.S. leadership in next-gen connectivity.”

In August, EchoStar sold $23 billion worth of nationwide wireless spectrum licenses to AT&T, which included 50 MHz of mid-band and low-band spectrum, according to Reuters. Earlier in 2021, Verizon made headlines with a staggering $52 billion spectrum acquisition to clear and secure mid-band airwaves critical for its 5G rollout.

Against that backdrop, SpaceX’s $17 billion spectrum deal highlights the different strategies at play: while traditional carriers pour tens of billions into spectrum auctions and fiber rollouts, SpaceX is leveraging satellite technology to bypass costly ground infrastructure and directly challenge entrenched telecom models.

President Donald Trump had earlier pushed EchoStar and FCC Chair Brendan Carr to reach an amicable settlement over the company’s spectrum licenses, signaling political interest in seeing the assets deployed more effectively.

SpaceX will finance the deal through a mix of cash and equity, paying up to $8.5 billion in cash and issuing up to $8.5 billion in stock. It has also agreed to cover about $2 billion in interest payments on EchoStar’s debt through late 2027.

Despite the sale, EchoStar will continue to operate its Dish TV satellite service, Sling streaming platform, Hughes internet service, and Boost Mobile brand.

SpaceX had long urged the FCC to reallocate underused spectrum for satellite-to-phone service, accusing EchoStar of failing to meet deployment obligations. In April, the company wrote to the FCC claiming that EchoStar’s 2 GHz spectrum remained “ripe for sharing among next-generation satellite systems” and was being “chronically underused.”

With the acquisition, SpaceX gains direct ownership of spectrum rights, reducing its reliance on leased access from mobile carriers like T-Mobile. The deal positions Starlink not just as a global broadband provider, but as a potential disruptor in mobile telecom, competing against carriers that have historically relied on massive spectrum auctions and terrestrial infrastructure spending.

Meanwhile, Verizon has continued to double down on traditional pathways, with its $20 billion acquisition of Frontier Communications’ fiber-optic business in May, underscoring the divide between old-guard telecoms and Musk’s satellite-driven strategy.

Spain’s second-largest lender, BBVA, has formally launched its €14.8 billion ($17.34 billion) hostile takeover bid for smaller rival Sabadell, setting in motion one of Europe’s most closely watched banking battles.

Reuters reports that the move comes 16 months after BBVA first went hostile, triggering a lengthy competition review. Analysts note that while the bank has stuck to its original terms, Sabadell’s surging share price has already made the offer look less attractive to shareholders.

BBVA’s offer seeks to combine the two lenders into Spain’s second-largest bank, with domestic assets worth around €1 trillion — behind only Caixabank. Sabadell shareholders now have until October 7 to tender their shares, with results due by October 14.

But a sticking point has emerged: Sabadell’s shares have outperformed BBVA’s since April 2024, climbing above the value of the original offer. BBVA said on Friday it is not planning to revise the bid, though legally it could do so until five days before the deadline.

When BBVA first pitched the deal, it offered a 30% premium over Sabadell’s April 29, 2024, closing price. That premium has now eroded into a negative differential of around 9%.

“Retail investors in particular are unlikely to view an offer below market price as attractive,” Barclays analysts said on Monday.

Still, Barclays noted that by sticking to its original terms, BBVA has preserved the financial appeal of the deal, which would expand its footprint in Spain.

Both banks’ shares edged higher by around 0.6% by 1221 GMT on Monday, reflecting cautious market anticipation that BBVA might eventually sweeten the terms.

Pressure to Raise the Offer

Spanish broker JB Capital believes BBVA “will need to top up the bid if it wants to reach the targeted 50.01% acceptance.” According to its calculations, the bank could raise its offer by as much as 34% while still preserving about 85% of the €900 million in targeted synergies.

Exane BNP Paribas echoed this sentiment, warning that “under the current terms it would be quite difficult” to win over Sabadell’s shareholders, half of whom are retail investors.

Shareholding in Sabadell is highly fragmented. Its 20 largest shareholders are mostly international institutions, with BlackRock (BLK.N) as the biggest, holding about 7%, according to Spain’s financial supervisor.

Jefferies analysts also suggested that BBVA could improve the terms, estimating the discount in share prices at around €1.5 billion.

Regulatory Dynamics and Government Resistance

While BBVA is targeting at least 50.01% of Sabadell’s shares, it has recently secured U.S. regulatory approval to lower the acceptance threshold to 30%. That flexibility may help the bank advance the deal without a majority takeover.

However, the Spanish government has taken an unusual stance by blocking a full merger for at least three years. The state has argued that banking consolidation must not undermine competition or customer access, making BBVA’s hostile move more politically sensitive.

Alantra, a Spanish broker, suggested BBVA’s strategy may be leaning toward partial control rather than full integration, noting that “with delayed synergies, BBVA cannot afford a large premium to convince retail investors.”

Europe’s Banking Consolidation Puzzle

BBVA’s pursuit of Sabadell fits a broader pattern of European banking consolidation, where scale is increasingly seen as essential to withstand margin pressures, digital competition, and stricter capital rules.

For instance, in Italy, Intesa Sanpaolo’s successful takeover of UBI Banca in 2020 created a giant with stronger domestic dominance despite initial shareholder resistance. In France, Crédit Agricole and Société Générale have both been linked to merger speculation as they seek efficiency in a low-interest environment. Germany, by contrast, has struggled with stalled merger talks between Deutsche Bank and Commerzbank, reflecting political hesitation similar to Spain’s.

In that light, BBVA’s persistence mirrors a regional trend: large incumbents trying to absorb smaller rivals to reach scale, even when politics and shareholder sentiment complicate the process. But unlike Italy, where regulators supported consolidation, BBVA faces a tougher balancing act given Madrid’s open opposition and Sabadell’s rising market valuation.

The outcome of this bid could reshape Spain’s banking sector for years. Analysts believe that if BBVA succeeds — even at the lower 30% threshold — it would gain enough influence over Sabadell to tighten its grip on the domestic market, pressuring Caixabank and Santander to defend their turf. Caixabank, already the largest by assets, might have to accelerate digital investments or pursue its own merger opportunities to avoid being outflanked.

Santander, with its heavier reliance on international markets, may not feel the immediate squeeze, but analysts say a stronger BBVA at home could force it to rethink its balance between Spain and Latin America.

For Sabadell, rejecting BBVA outright could bring short-term independence but may leave it vulnerable in a market trending toward consolidation. Rising technology costs, tighter regulation, and growing competition from fintechs mean that smaller banks like Sabadell risk being squeezed without a bigger partner.

Regionally, the clash could set a precedent. Some analysts believe that if BBVA overcomes government resistance and pulls off even a partial control deal, it could embolden similar consolidation attempts elsewhere in Europe, where banks face the same pressures of low profitability, high capital requirements, and the need for costly digital transformation.

But if BBVA fails, it might signal that Europe’s political constraints remain stronger than market forces, potentially chilling merger activity and leaving banks fragmented compared to their American and Chinese peers.