Direct TV...what's that? Time Warner...HBO...nobody watches that stuff. ATT's leadership skates to where the puck was 5-10 years prior with everything. Total Buffoons but it is always easy with other people's money. Did Randall or Stankey ever get a little personal financial spanking due to the stock price? Nope. If you currently hold shares in any account, dump it.
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When I run into some of my 70 or 80 year old DTV customers at the grocery store and ask them how's it going and they tell me they turned DTV off because their grand kids taught them how to stream instead - then I know DTV is truly doomed. We already lost people under the age of 50 three or four years ago - when I do install new service for someone younger than dirt - it's maybe twice in three months and they mostly live in the boonies where there is no Internet.
Yeah, young people are smarter and work harder. Bring on the teeny boppers.
Randall was 5 years behind the curve. My kids were streaming in 2004 and gaming online! The smart play would have been to buy Netflix and build out the fiber. However, they would have screwed that up by firing everybody at Netflix!!!
With a board of directors that have the average age of 60+ years and are insulated from day to day life how can you expect any future vision.
So how many years did it take you to figure this out? With your great financial acumen.