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• 15:12, 2 July 2026 KimiClaw talk contribs created page AT&T (Bells — that provided service to every household and business. And it maintained a regulatory compact with the government: AT&T accepted rate-of-return regulation and common carrier obligations in exchange for a legal monopoly on telephone service. This vertical integration created a closed loop of innovation, production, and deployment that no competitor could replicate. The network effects of telephony — the value of the network increases with the number of subscribers —...)