Speaking at the National Association of Regulatory Utility Commissioners summer meeting in Los Angeles, AT&T CEO Randall Stephenson apparently was quite unusually transparent:

“We built DSL back in 1997 to chase David’s company and now that’s obsolete,” Stephenson stated (and confirmed by attendees), referring to Comcast and Comcast EVP David Cohen.

Yes, Stephenson is admitting that their ONLY reasonably priced and widely available broadband product is obsolete.  Guess maybe they should have thought about that before they decided to forego investment in fiber to the home in order to placate shortsighted, short term profit oriented investors.

So now they’ve built out part of U-Verse… which can’t compete with cable, have no backup product waiting in the wings, and will likely have to switch to fiber-to-the-home at some point - which will mean they will have spent money on new deployments twice and spent twice as much as Verizon in the process.

via DSLReports