Would that be fair, since many people hold the Bells responsible for driving smaller rivals out of business?
We think we complied with all the rules. The fact is, most of these companies had bad business models. They couldn’t scale. The government thinks you can have 200 competitors in this industry. You just can’t. You need lots of capital, infrastructure, network systems, operational support systems, and people. Q: When will telecom recover? A: Here’s what I would say. As broadband becomes more pervasive over the next three or four years, all the, quote, excess capacity in long distance will get absorbed. If you go to Microsoft (MSFT ) or IBM (IBM ), they’ll never say there’s overcapacity. They would say they can envision a world in which you need more capacity to handle all the things they can make. The problem is we don’t have the capacity in the right places. So we have got to get capacity in the last mile. The [telecom] industry will morph into a broadband industry that will change a lot of things. The cable industry focuses on entertainment and games. The broadband industry will focus
