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00:00Over the last five years, AT & T has grown leaner by design, selling WarnerMedia and Direct TV and using the proceeds to strengthen its 5G wireless and fibre broadband capacity. No company has invested more capital into U.S. connectivity infrastructure in this decade. Now it's poised to satisfy soaring demand for higher bandwidth and faster speeds. We have our broadband or fibre product. We have our fixed wireless product, which is basically Internet or using our wireless network. And then you have your traditional wireless. Why fiber? It has the fastest speed, it has the lowest cost to maintain relative to your traditional copper, which is what we were upgrading. Beauty of fiber, it's symmetrical. It sends the same amount of data up as it sends down. And so it was betting on that kind of capable infrastructure, which is going to be necessary for the economy. I think fiber futureproof your network. It took about 20 years for the United States to see about half of its households built out with fiber. We're going to see that 50% go to 80% in about five years. We don't see any other technology that will set your network up better for long term bandwidth consumption. Fiber provides the lowest human economic cost and 5G provides the lowest economic cost for wireless. We are the only company that has scaled networks in both fiber and wireless. We think this is going to be a natural cost advantage, allowing us to drive not only the best economics for ourselves, but also drive the best value for consumers. AT & T has a decisive edge in Fiber subscribers over competitors Verizon and T-Mobile. It trails its rivals in wireless subscribers right now with fiber. AT & T is a clear leader when it comes to wireless. AT & T is not number one. Does that matter? Well, look, I don't like being number three in anything so good that I look at share service revenue. And we've been making really good progress the last few years under John's leadership in growing our share of service revenue. What we're geared toward is to get the higher share of wallet in the industry and maybe some of it comes from fixed and maybe some of it from wireless, and we may not be the number one handset purveyor or the number one broadband provider. But the question is, is our total spend in the industry at the highest level? And that's really the strategy we're pursuing right now.

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How AT&T Found Its Focus

Since John Stankey became AT&T CEO in 2020, the company has streamlined its focus around connectivity and concentrated on developing fiber broadband and 5G wireless networks. On Bloomberg Chief Future Office, Stankey and CFO Pascal Desroches tell Lisa Abramowicz why they're confident that AT&T is positioned to turn this technological foundation into profitable growth. (Source: Bloomberg)

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