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To: Perspective who wrote (14388)	8/28/2000 11:15:06 PM
From: pater tenebrarum	Respond to of 436258

you heard right about the amount. it's a most glaring example of the current propensity to engage in malinvestment on a grand scale...never has so much money been spent on something with such totally uncertain returns, merely based on competitive 'peer pressure'. in fact the massive debt issuance by the telco's involved in these insane bidding contests has begun to crowd out other, more worthy debtors. the effect is already akin to big government indebtedness - while that crowds out the entire private sector, in this case worthy investment causes are being shafted in favor of what amounts to an incredibly risky gamble, that is unlikely to ever pay off. and you are quite right, by the time they get this stuff to the point of commercialization, their prospective customer base will already be more concerned with economic survival than the latest flashy gadget...