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What happens if you've got $300B worth of shovels but can only realistically rent them out for $5B/yr? Nortel was a shovel maker selling shovels to ISPs.
by vel0city 1y ago
What happens if you've got $300B worth of shovels but can only realistically rent them out for $5B/yr?
Nortel was a shovel maker selling shovels to ISPs.
- Incipient 1y agoNortel was a bit different - I think the Chinese hack really killed them. Investors got the jitters then jumped ship or something? But the inadequate sale value of shovels holds.
- vel0city 1y agoTheir customer base rapidly disappeared and they tried to paper over the losses with accounting fraud where they had fake sales of equipment because their actual customers disappeared. They had tons of equipment to sell with few customers left to buy them.