Now that the details on FCC's new network neutrality are out, the aftermath is getting interesting. It was clear that Obama's choice to come out in public support of applying Title II to the internet was a key moment, but according to FCC Chairman Tom Wheeler's testimony before Congress the effect was indirect.
Wheeler says he was more influenced by the market's lack of negative reaction to Obama's statement than by the statement itself. That is another way of saying he had expected investors to panic and pull money out of telecom. When they didn't, it suggested that the lobbyists saying investment would dry up might be, umm, overstating the danger involved in taking a more heavy handed approach.
Yes, it's Wall Street's fault that Title II now applies to the internet. Next time, remember to panic properly so this won't happen.
I'm not entirely sure what the Republicans in Congress are looking for here though. That Obama influenced the debate? Wasn't everyone trying to do precisely that, including those same Republicans in Congress, just less successfully?
Ah well, I'm not too worried about the ability of the big guys to handle the new regulatory environment. But I'm curious how things will really play out for the smaller providers out there. I'm not hearing much happiness, and it's not because people were planning fast lanes.
Over in Europe, they've opened a new front against network neutrality: that the Internet of Things needs prioritization or it will never come to pass. What if your driverless car crashes because it's bandwidth got squeezed by streaming video? Seriously? A car whose safety depends on cellular coverage and complete data security from hackers? Who would get in such a contraption? For that matter, has anybody told GEICO they're going to be insuring these things? I think this message needs some refining... I forgot it was about network neutrality already.
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