Ordinary folks believe that cryptocurrencies and blockchain are only for technical and finance professionals. Robinhood has added Stellar and Avalanche to its list of supported cryptocurrencies. Its national local and long distance network excluded independent phone services from its use, and it had already grabbed enough of the market to dictate prices and contain the growth of its competitors. A group of high-level AT&T engineers put the word out that whoever developed a method to amplify phone signals would recieve a huge reward. Vail believed that Bell Telephone’s future would be secure if it could build a national network and function as a national utility before its exclusivity ran out. Morgan finally won control of American Telephone & Telegraph in 1907. (Bell Telephone’s new name as of 1899.) One of his first acts was to return Theodore Vail to the position of chairman. By the end of the century, Bell Telephone had to vie against 6,000 competing companies, serving 700,000 customers. To give a sense of the scope of AT&T’s functions at it height, imagine if Alexander Graham Bell invented the automobile instead of the telephone. The Bell System represented the world’s first complex electronic network. He seemed to control the entire financial system with his companies and his cash.
AT&T agreed to allow some independent telephone companies to use their network. The telephone was becoming a part of American life. They have a bold, even ruthless, attitude toward life and may seem overly ambitious. AT&T would have owned and built the entire interstate highway system, every service station, even every traffic light and road sign. Though it needed some work to be effective for telephony, it was the key technology AT&T needed to make good on its promise. A dull blade is going to make you work harder as you slice. To make your company competitive and attractive to job candidates, you have to offer an exceptional total benefits package. Post Office did not see the objectives of his company and those of his government as being mutually exclusive. The standards AT&T set for the composition of its ever growing network are the same standards and systems applied to networking today, no matter what kinds of devices are being connected. After the Kingsbury Commitment, AT&T had a mandate to function like a national utility and expand its service to every corner of the union.
Vail’s vision of a national utility controlled by a single company could not be fulfilled without a major shift in strategy. Until Bell’s patents expired, the company was the exclusive manufacturer and provider of telephones. When the time came for Bell’s patents to expire, the company had not built the network Vail felt was necessary to discourage competition. He demanded that it be finshed by 1914 — the same time that the Panama Canal was scheduled to be completed. Now time has passed; your love is strong; you passed the early test. Now with government sanction, AT&T was free to fulfill Vail’s vision of “universal service.” In the succeeding decades after 1913, AT&T consolidated its hold on the market and continued to expand almost uninterrupted until 1949. By that time, AT&T was a monopoly with no equal. The idea of this emerging superpower now having access to Western Union’s network became a concern for lawmakers known as trustbusters. As this milestone was nearing completion, Morgan acquired Western Union for AT&T. At the time, AT&T was developing into a monopoly. It was also an example of the many tremendous, if occasionally inadvertent, contributions that AT&T has made to technological innovation in its 130 years.
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