this post was submitted on 18 Jul 2023
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AT&T stock fell to 29-year low on Friday and sank another 6.7% today (arstechnica.com)
submitted 1 year ago by [email protected] to c/[email protected]
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AT&T's stock price hit a 29-year low on Friday and continued to sink today as investors fled telecom stocks on reports that cleanups of lead-covered telephone cables could cost the industry tens of billions of dollars.

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[โ€“] [email protected] -3 points 1 year ago (1 children)

You know companies need to exist so you can have and do nearly everything you rely on in your life right? Unless you want the state to control all means of production, which I would not recommend, there is a lane where corporations do need to exist and you're absolutely free to invest in their businesses (or not) just like everyone else.

[โ€“] [email protected] 18 points 1 year ago* (last edited 1 year ago)

ISPs and telecoms are natural monopolies. The state owning them would probably improve the options many people have access to. Also state owned does not have to mean it is owned by a federal or even state government. It can be owned by smaller units of organization. Furthermore there can be vendoring out of the parts that a private market is more competitive for (such as equipment).