this post was submitted on 20 Jun 2023
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Retired telecom worker here:
Every single time your telecommunications provider goes to DC to lobby against their taxes they promise "Please oh please please if you'll just lower our taxes we pinky swear to expand broadband. We're going to expand the reach of DSL, we're gonna lay cable for Uverse internet, we're invented this thing where high speed internet goes over your electrical grid. We promise you we can do the thing if only you'll cut our taxes."
So DC does and guess what happens? Job cuts. Cut back on techs needed to actually do the work. The money is used for stock buy backs, to buy a company or two (bought at a high price then sold at a loss of course) and the CEO bails with a golden parachute:
https://www.forbes.com/sites/jackkelly/2020/05/12/atts-ceo-steps-down-with-a-64-million-gold-plated-retirement-plan/?sh=3ede18b759bd