In a 1954 speech and 1955 article, Pierce described the usefulness of a communications "mirror" in space, a medium-orbit "repeater" and a 24-hour-orbit "repeater." In comparing the communications capacity of a satellite, which he estimated the capacity at 1,000 simultaneous telephone calls, and the capacity of the first trans-atlantic telephone cable, which could carry 36 simultaneous telephone calls at a cost of 30-50 million dollars, Pierce wondered if a satellite would be worth a billion dollars