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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (8510)	9/8/2001 7:34:26 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

<Vodafone, the world's largest mobile phone operator, has warned that its third generation networks will not be able to offer much-heralded multimedia services when launched next year. > Jay, Vodafone corrected that. They say now they will be getting it right and next year it'll be going [fat chance unless they dump the W-CDMA vapourwear Naked King nonsense]. Be that as it may, <justifying the license fees bid, for no particular new functionality worth mentioning ... > there is huge functionality in being able to make a call, which CDMA in 3G will enable by providing huge capacity. At the same time, cyberspace will arrive at a powerful little device. People like cyberspace. Yes, I know about the small screens. People can select their screen size. Savings were not lost in the destroyed sense so much as transferred to other people. The creditors of Globalstar now [almost] own the assets which are performing fine and still have 90% of their life to run. Wealth was not vaporized - it was transferred from me to others. The internerd failures without residual value and with large expenditures were wealth destruction. People worked on things which were totally a waste. Fortunately, the internerd expenses were minor compared with the world's economy. The telecosmic failures are more grand in scale but even there, the amount of wealth destroyed is still unknown. Perhaps the fibre will fill surprisingly fast. The huge spectrum prices were not wealth destroyed. It was wealth transferred. The governments could use the proceeds to buy the failing telecosm companies and build out services themselves. A bit like Hong Kong government bought up large when the Hang Seng hit 6,000 and made out like bandits. Wealth transfer is not wealth destruction. The losers must replenish as you say, but that's what keeps the world ticking, "I owe, I owe, it's off to work I go..." ZZzzzztime... Mq