Anyone seeking an object lesson in the uncertainties of the business world needs to look no further than the telecommunications industry. Wireless communications increased massively during the late 1990s, a time when technology advanced at a bewildering rate. The value of companies using this technology soared during that period, but the story of the first few years of this century has been one of big hangovers for many players. Dot.coms have collapsed and even big names such as Deutsche Telekom and British Telecom have seen half of their market value disappear. On the stock market fortunes have, as they say, been made and lost.
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