NFT next?

Earlier today I mentioned the invention (or rather evolution) of the transistor in 1947. Bell Labs also developed most of speech science, including synthesis and recognition, and the C programming language, and microwave technology, and a million other useful devices and entire branches of science.

After the switch from profit to Share Value in 1980, Bell Labs was sold to Lucent and killed.  Later, Lucent devolved into something called Avaya, which accidentally returned to making just one Bell-like product: office extension phones and switchboards for call centers in India.

This afternoon Wolf reports on the further DEvolution of Avaya into a stock buyback vehicle.

This morning, the company confirmed the previously warned-about plunging revenues and a gigantic loss 2.4 times the size of its revenues. In addition, it disclosed an investigation into its financial reporting. And it warned, that it might not be able to pay off its bonds due in June 2023, though it had just raised $600 million by selling new debt in order to pay off these bonds, and that as a consequence of all of this, “there is substantial doubt about the Company’s ability to continue as a going concern.” So, this is a bankruptcy candidate. If it files for bankruptcy, it would be the second time.

The only thing missing is bitcoin and NFTs. I’m sure those will be the next step downward.

Whoops, I’m 5 years late. Avaya jumped into the bitcoin parade in 2017. There’s an NFT representing a song about Avaya, but so far I haven’t found an NFT offered by Avaya itself.

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