I spend a lot of time focusing on the criminal, anti-freedom, harmonic crony convergence between Big Government and Big Business. Because it is THE fundamental component of the United States’ $30.8 trillion economy.
John Maynard Keynes famously said: “Markets can remain irrational longer than you can remain solvent.” We are about to painfully prove my warped Keynes maxim: “Systems can’t remain corrupt and remain solvent.”
Over $40 trillion in national debt. Over $1.1 trillion per annum just in interest thereon. All of which have finally become so awful. Fewer and fewer people are interested in buying our debt.
Our corrupt system is about to become insolvent. In no small part because Big Gov has spent decades giving Big Biz ever more massive cronyism — and putting it on the national tab. Well, they’re about to run out of tab.
But as the big, bad Big Gov and Big Biz dinosaurs wreck the place? Smaller, more agile corporate mammals are left largely alone by D.C. to not only survive — but thrive.
Take the Tech Sector. Jurassic Big Tech is about to destroy the economy with its cronied-up, multi-trillion-dollar Artificial Intelligence (AI) bubble.
That kind of action is consuming pretty much all the Big Biz oxygen in the room. About half of the entire value of the S&P is AI stocks. Almost 80% of S&P stocks are down.
That kind of action is consuming pretty much all the Big Gov oxygen in the room. It’s pretty much all-bureaucrat-hands-on-deck — trying to prop up AI and its Big Tech paymasters.
That all-encompassing idiocy provides accidental neglect for other parts of the Tech Sector. To proceed — as a normal, functioning free market proceeds when it’s not all cronied-up. Including the portion of the government tasked with oversight thereof.
Like, say, the cellular-wireless industry. I like to highlight the likes of wireless’ successful Tech yin — so as to contrast it with Big Tech’s cronied-up Tech yang.
Wireless is a nigh endless vista of successful companies fairly competing in a largely free market. Big Tech is a few mammoth, neo-monopoly oligarchs with their ossified, en-excrement-ified platforms.
Wireless’ consistent-not-AI-crazy growth is thanks to both private and public actors behaving normally — and even rationally. Which is self-feeding. Their behaving rationally — creates good growth. Which allows them to continue behaving rationally. Which creates good growth. Which…
Wireless companies work to expand their capacity and efficiency. To improve their profits, their performance — and their customers’ experience.
Bureaucrats keep an eye out for actual bad actors — and leave the good ones largely alone. And do what they are supposed to do to keep the good times rolling. In wireless’ case? That means government continuing to feed Wireless World the spectrum they need to keep the good times rolling.
(Semi-)recent headlines from the sector — taken as a whole — eminently demonstrate the healthy functioning of the wireless sector.
Speaking of spectrum, back in June: FCC Announces Close of Successful Wireless Auction: Spectrum Demand Is Strong as Proceeds Exceed Expectations.
The purchasers there were the usual suspects: Verizon, AT&T, T-Mobile, etc. Traditional (terrestrial) wireless providers. But the Federal Communications Commission (FCC) ain’t nowhere near finished: U.S. Official Says Upcoming Spectrum Auctions Could Generate More than $100 Billion.
A lot of that will go to the usual suspects. But nowhere near all of it will. From U.S. FCC to Vote on Advancing New Spectrum Auction to Boost 'Direct to Device' Services: “Direct-to-device satellite technology allows smartphones and other devices to connect directly to satellites and is being developed by SpaceX, Amazon’s Leo and others.”
Satellite wireless service is a way for Big Tech to augment the wireless companies’ service. As satellites reach areas — mostly rural — the wireless providers sometimes struggle to connect. Satellite has connectivity-everywhere-but-rural problems, so this symbiotic relationship will likely expand.
But not everyone in Big Tech is thinking that way exclusively. From SpaceX Makes Big Play to Become a Wireless Carrier: “Elon Musk’s space company is buying spectrum licenses to help build a mobile network to compete with telecom giants.”
Media bias much? Plucky little SpaceX (Market Cap: $2.37 trillion) is taking on the “telecom giants” (Biggest Market Cap? T-Mobile: $159.4 billion.)
I’m more than a little wary of Big Tech swinging its cronyism over the fence into Wireless World. Because its government favoritism is fungible. Cronyism Big Tech receives anywhere — is an unfair advantage for them everywhere.
But FCC Chairman Brendan Carr has said:
(T)he FCC's approach is focused on getting more spectrum into the hands of companies willing to invest and compete, rather than deciding which technologies or providers will ultimately win.
We're seeing a lot of competition. We're seeing a lot of innovation.
Speaking of which, The Big 3 U.S. Carriers Just Created a New Company to Fill in Dead Zones:
The new agreement will see the carriers not only pool their wireless spectrum, but widen access for direct-to-device satellite service. The networks claim this will bring service to unserved regions, provide better coverage during emergencies, and deliver ‘more consistent’ experiences that include easier access to satellite networking.
The carriers also maintain this will improve satellite competition, speed up rollouts for ‘innovative’ technology, and make the most of limited spectrum… Each of the networks can still pursue their own efforts, and won't have to scrap their existing satellite deals.
The point of all of this is: The chasm of innovative difference between the Wireless World and Big Tech.
This flurry of wireless activity is more creation and innovation inside of three months? Than we have seen in years from the likes of Meta (Facebook), Apple, Google, and many other members of their Big Tech cohort.
The closest Big Tech gets to innovating? Is being threatened by innovative companies — and buying them and shutting them down. Because Big Gov allows them to do so. Over and over and over again.
What should we do? Make Big Tech World look a whole lot more like Wireless World.
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