Labor’s biggest boondoggle, the NBN, is now a joke, beaten by new technology, beaten by big business, scams and asbestos, and throwing money down the drain:
‘THE company building the National Broadband Network has revealed a $932 million operating loss after recording only $17 million in revenue for the 2013 financial year.
While NBN Co increased revenue by $15 million compared to the 12 months to June 30, 2012, the company fell short of the revenue targets outlined in its Corporate Plan which predicted the company to bring in $18 million this year.’
– See more at: http://www.theaustralian.com.au/business/in-depth/nbn-co-reveals-huge-operating-losses/story-e6frgaif-1226749116622?utm_source=twitterfeed&utm_medium=twitter&utm_campaign=Feed%3A+TheAustralianNewsNDM+%28The+Australian+%7C+News+%7C%29#sthash.ovubDkRA.dpuf
How did we end up with Conroy and Rudd picking the best telecoms technologies of the future? They made a pretty big bet, using your money, that fibre to the home was it and a bit. No other technology matched it and it was essential we get it lest we get “left behind”.
Apparently some in the telecoms research and development caper didn’t get the message to stop further developments. They continued to research and develop other stuff, like making copper wires carry much, much more data at much faster speeds.
It’s a pretty compelling (and predictable) economic case when you look at how much copper wire is already in the ground. The owners of those copper cables have a big interest in funding R&D to make the copper work better. And they have. This report slipped through the censors at the Sydney Morning Herald.
Broadband vectoring is real and it works: Alcatel chief […]
Read it all … and weep, it’s ‘your’ money.