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Nov. 16, 2022

Craig Moffett - A True Expert

Craig Moffett - A True Expert

Craig Moffett has covered the telecommunications industry – first as a management consultant and later as a Wall Street analyst – for more than thirty years. He has been elected to Institutional Investor Magazine’s All-American Research Team in the U.S. Telecom and/or Cable & Satellite sectors on seventeen separate occasions, including nine separate appearances as the #1 analyst in America in either U.S. Telecom and/or Cable & Satellite.

Prior to founding MoffettNathanson, Mr. Moffett spent more than ten years at Sanford Bernstein & Co., LLC as a senior research analyst. He was previously the President and founder of the e-commerce business at Sotheby’s Holdings, the venerable auction house, where, in 1999, he led Sothebys.com to what was then the highest first year sales of any consumer website ever launched. Mr. Moffett spent more than eleven years at The Boston Consulting Group, where he was a Partner and Vice President specializing in telecommunications. He was the leader of BCG’s global Telecommunications practice from 1996 to 1999. While at BCG, he led client initiatives in the U.S. local, long distance, and wireless sectors, in both consumer and commercial services, and advised companies outside the U.S. in Europe, Latin America, and Asia.

Mr. Moffett graduated from Harvard Business School with Honors in 1989. He received a BA from Brown University, where he was magna cum laude and Phi Beta Kappa, in 1984.

Detailed Show Notes -

5:41 - Why Silicon Valley Bank is a good fit for MoffettNathanson

6:50 - Why telecom is a hard business

7:40 - The history of US telecom

10:10 - How cable incubated an industry under AT&T/telecom's business

15:52 - How does cable compete with fiber going forward?

17:47 - High splits, node splits, who gives a split?

22:50 - Cable strategy and why high splits are the current strategy

29:09 - Wireless vs. broadband going forward

35:00 - The physics of wireless

46:00 - Verizon's big strategic decision was correct but implementation left something lacking

51:10 - Cable's wireless offering and how it fits into the competitive set

58:44 - What does broadband's growth runway look like?

1:03:45 - How do fiber overbuilders factor into the future?

1:08:00 - The fiber bubble will burst.  Then some Altice discussion.