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AT&T

AT&T protected its interests with the fiercest vigilance, and thereby helped bring itself down.

When MCI, the company that broke the monopoly that AT&T had on long-distance telephony in the United States and Canada, was sold recently, it went for $22 billion. That’s not bad for an operation that, less than three decades ago, was having trouble borrowing $35,000.

It meant that the government should run the telephone system. And there’s a reason that the word is forgotten.

 

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