Look, I had to bid $100 billion for 3G spectrum and it's all the governments' fault.
Nokia and L M Ericsson reckoned they had this great new mobile cyberspace technology and the governments in Europe held an auction of spectrum so companies could buy the spectrum and sell the service.
Well, I obviously had to bid $100 billion because I'm a Mindless Zombie. Now, L M Ericsson and Nokia and D'oh!CoMo, who said they were whizzbang geniuses are saying that there's a bit of a glitch in making the dang W-CDMA work. Everything is going wrong and I'm losing my $100 billion. It's all the governments' fault. They should have told me how much to bid, knowing that I have a big hole in my head, being a big-shot businessman, and that I wouldn't have a clue how much to bid and what I could sell it for and whether the GSM Guild had a clue what they were doing.
Just because all and sundry were saying that W-CDMA was a dud technology and cdma2000 was much better, cheaper and the way to go, doesn't mean I should figure that out.
Woe is me. The government should give me all my money back because it's all their fault.
quote.bloomberg.com
<.... The initials 3G may soon join them. Decades after people have forgotten what exactly the mobile Internet was meant to do, the phrase will live on as shorthand for what happens when governments stoke speculative madness.
For, as the miserable saga unfolds, it is obvious that Europe's third generation mobile phone network is set to become one of the great investment disasters. Never in financial history will so much money have been wasted for so little return. Nor will governments have so recklessly and pointlessly destroyed a whole industry.
3G is a new high-capacity mobile phone network. Two years ago European governments auctioned off the spectrum at the height of the telecommunications and Internet boom. ...>
See, it says right there that it's the governments' fault and they have wrecked the industry, and especially me, because they didn't tell me not to bid so much, which they should have done because I'm just a Mindless Zombie big-shot businessman and everyone knows we have great big holes in our heads where the money-figuring out part is meant to be. Our special skills are in lunch, first class travel, flash hotels, Big-Shot conferences, first class food and wine and being chauffered around the place in limousines. We don't know about buying spectrum and cyberphone stuff. Burp .. Hick! ..
Also, it's not fair that QUALCOMM seems to be making cdma2000 work fine and even GSM1x, which they say we could use in our 800 MHz spectrum which we've been using for GSM, instead of W-CDMA and they're calling it 3G.
It's just not fair and I want my money back,
Zomby |
