Telecom Industry Quotes

I once asked one of the most successful leaders of the telecom industry what she considered to be the essence of her leadership work. She responded, “I am facilitating the opening process so my team can sense and seize emerging opportunities as they arise from the fast paced business environment we are operating in.

Note: The ICT industry, as defined by the Bank of Korea, includes both ICT device manufacturing (office, computing and accounting machinery and semiconductors and telecom devices) and ICT services (telecommunications, broadcasting, software and computer

The Global Financial Crisis shows the credit cycle at the greatest extreme since the Great Depression. Debt markets historically had been marked by general conservatism, meaning excesses on the upside were limited and most bubbles took place in the equity market. Certainly it was the site of the Great Crash of 1929. But the creation of the high yield bond market in the late 1970s kicked off a liberalization of debt investing, and the generally positive economic environment of the subsequent three decades provided those who ventured in with a favorable overall experience. This combination led to a strong trend toward acceptance of low-rated and non-traditional debt instruments. There were periods of weakness in debt in 1990–91 (related to widespread bankruptcies among the highly levered buyouts of the 1980s) and in 2002 (stemming from excessive borrowing to fund overbuilding in the telecom industry, which led to prominent downgrades that coincided with several high-profile corporate accounting scandals). But the effects of these were limited because of the isolated nature of their causes. It wasn’t until 2007–08 that the financial markets witnessed the first widespread, debt-induced panic, with ramifications for the entire economy. Thus the GFC provided the ultimate example of the credit cycle’s full effect.

2. Cooperate with Industry Incumbents Back in 2007, Google was in a precarious position. The company owned desktop search, but the mobile Internet was starting to take off. With the runaway early success of the iPhone, Google was worried that mobile would become Apple’s walled garden. Luckily, it wasn’t alone. Handset manufacturers and telecoms not named AT&T shared the same fear. So Google created the Open Handset Alliance, a group dedicated to advancing Google’s Android operating system. In essence, Google used a cooperative strategy. Rather than trying to build a network all on its own, it tapped into the existing sales channels of the companies in the Open Handset Alliance to spread Android to consumers.

In 2008 Nokia led the world in mobile phone sales. When Apple introduced the iPhone, few thought it would take off. The trend was to make handsets smaller and cheaper, but Apple’s was bulkier, pricier, and buggier. Nokia’s frame came from the conservative telecom industry, valuing practicality and reliability. Apple’s frame came from the breathlessly innovative computing industry, valuing ease of use and the extensibility of new features via software. That frame turned out to be a better fit for the needs and wants of consumers—and Apple dominated the market.

In 2011, just four Wall Street banks—JPMorgan Chase, Citigroup, Bank of America, and Goldman Sachs—accounted for 95 percent of the financial industry’s derivatives trading in the United States.34 It is a pattern of concentration that prevails in many other industries too, from media and computing to telecoms and supermarkets. Anyone who has played the board game Monopoly is well versed in the dynamics of Success to the Successful: players who are lucky enough to land on expensive properties early in the game can buy them up, build hotels, and reap vast rents from their fellow players, thus accumulating a winning fortune as they bankrupt the rest. Fascinatingly, however, the game was originally called ‘The Landlord’s Game’ and was designed precisely to reveal the injustice arising out of such concentrated property ownership, not to celebrate it.

What are your feelings from Bush to Obama? Besides being responsible for the death of half a million people, I feel like Bush dealt a huge economic and social blow to the USA, one from which we may never fully recover. He directly flushed 3 trillion dollars down the toilet on hopeless, pointlessly destructive wars in Afghanistan and Iraq …and they’re not even over! For years to come, we’ll be paying costs for all the injured veterans (over 50,000) and destabilizing three countries, because you have to look at the impact that the Afghan war has on Pakistan. Bush expanded the use of torture, and created a whole new layer of government bureaucracy (the “Department of Homeland Security”) to spy on Americans. He created Indefinite Detention (at Guantanamo and other US military bases) and expanded the use of executive-ordered assassinations using the new drone technology. On economic issues, his administration allowed corporations to run things and regulate themselves. The agency that was supposed to regulate oil drilling had lobbyist-paid prostitutes sleeping with employees while oil industry lobbyists basically ran the agency. Energy companies like Enron, and the country’s investment banks were deregulated at the end of the Clinton administration and Bush allowed them to run wild. Above all, he was incompetent and appointed some really stupid people to important positions at every level of government. Certainly, Obama has been involved in many of these same activities. A few he’s increased, such as the use of drone assassinations, but most of them he has at least tried to scale back. At the beginning of his first term, he tried to close the Guantanamo prison and have trials for many of the detainees in the United States but conservatives (including many Democrats) stirred up public resistance and blocked this from happening. He tried to get some kind of universal healthcare because over 50 million Americans don’t have health insurance. This is one of the leading causes of personal bankruptcies and foreclosures because someone gets sick in a family, loses their job, loses their health insurance (because American employers are source of most people’s healthcare) and they can’t pay their health bills or their mortgage. Or they use up all their money caring for a sick family member. So many people in the US wanted health insurance reform or single-payer, universal health care similar to what you have in the UK. Members of Obama’s own party (The Democrats) joined with Republicans to narrowly block “The public option” but they managed to pass a half-assed but not-unsubstantial reform of health insurance that would prevent insurers from denying you coverage when you’re sick or have a “preexisting condition.” The minute it was signed into law, Republicans sued in the courts (all the way to the supreme court) and fought, tooth and nail to block its implementation. Same thing with gun control, even as we’re one of the most violent industrial countries in the world. (Among industrial countries, our murder rate is second only to Russia). Obama has managed to withdraw troops from Iraq and Afghanistan over Republican opposition but, literally, everything he tries to do, they blast it in the media and fight it in Congress. So, while I have a lot of criticisms of Obama, he is many orders of magnitude less awful than Bush and many of the positive things he’s tried to do have been blocked. That said, the Democratic and Republican parties agree on more things than they disagree. Both signed off on the Afghan and Iraq wars. Both signed off on deregulation of banks, of derivatives, of mortgage regulations and of the energy and telecom business …and we’ve been living with the consequences ever since. I’m guessing it’s the same thing with Labor and Conservatives in the UK. Labor or Democrats will SAY they stand for certain “progressive” things but they end up supporting the same old crap... (2014 interview with iamhiphop)

industries – has become most apparent over the last decade and a half. During this period, software has “eaten” media, telecom, professional services, and retail and is increasingly “eating” banking, healthcare, education, energy, transportation