AT&T Looks to Expand 5G Reach, Though Concerns Remain
*By Conor White*
The race to build vast 5G networks may bring the promise of faster internet speeds and greater connectivity, but it's also sparked some controversy.
One source of complaint: those who shout "NIMBY", or Not in My Backyardーresidents who fear that their towns and lives will be disrupted as such vast infrastructures get built.
Melissa Arnoldi, president of technology and operations for AT&T, told Cheddar that those concerns can be assuaged. She pointed to an upcoming project in San Jose, Calif.ーwhere the company partnered with the city to ensure a smooth, safe transitionーas an example.
"We \[said\], 'Look, we will make sure that the equipment we deploy meets their standards, we will make sure it's not obtrusive to the consumers, and that it's deployed in a very safe way.'"
The San Jose agreement follows similar protests in the state. Residents of Piedmont, Calif., have been [fighting against] (https://sanfrancisco.cbslocal.com/2018/01/25/consumerwatch-5g-cellphone-towers-signal-renewed-concerns-over-impacts-on-health/) new cell towers for months, citing health concerns.
But locals aren't the only ones raising issue. Recent reports suggest that 5G could create a Wi-Fi gap, favoring those in urban cities over people who live in rural areas. [According to the FCC](https://www.axios.com/5g-digital-divide-19b70d34-4978-44df-a1cb-ae9222d113ef.html), 31 percent of rural Americans still don't have fixed broadband service, compared to just 2 percent of city residents, and some fear that divide could get worse with new technology.
But AT&T said in a [press release](http://about.att.com/story/5g_to_launch_in_more_us_cities_in_2018.html) last week that a greater 5G presence will actually bridge that disparity. Expanding to cities like Charlotte and Raleigh, NC, and Oklahoma City by the end of 2018 is one way the company hopes to do that.
The wireless giant's push for 5G only intensified after AT&T's acquisition of Time Warner, now known as WarnerMedia, in June.
"One of the key case uses for 5G will be 4K and 8K," explained Arnoldi. "So when you think about transmitting, for example, we did a trial with the U.S. Open on 4K, where we could actually help them broadcast signalsーlive broadcastsーwithout any wires."
John Stankey, CEO of WarnerMedia, has already promised the company will be aggressive in delivering new content to consumers, a necessary move in light of reports that rival Verizon is negotiating with Apple and Google to stream live TV. Verizon is also plotting its own 5G expansion around the country, signifying the rising tide of competition.
Arnoldi said she's optimisticーand excitedーabout the company's future.
"I think if you look at the content we have access to from a WarnerMedia perspective and the technology that AT&T Communications has, I think we're going to have a lot of exciting use cases in the future."
For full interview, [click here] (https://cms.cheddar.com/videos/VmlkZW8tMjEwOTg=).
Stocks closed at session lows Thursday, mostly due to a larger tech selloff after Facebook parent company Meta reported weak earnings results one day before. The Nasdaq closed down nearly 4% for its worst day since September 2020. Erin Gibbs, Chief Investment Officer at Main Street Asset Management, joins Closing Bell to discuss today's close, Meta earnings, Amazon earnings, and more
Spotify beat fourth quarter earnings expectations, and also reported a jump in monthly active users and in paid subscribers. The report comes as the company grapples with a new question: is it simply a streaming platform, or is it a media company responsible for the content it posts, like Joe Rogan's controversial podcast? Greg Martin, Co-Founder of Rainmaker Securities, joins Closing Bell to discuss why the stock took a hit even though earnings results were positive, how the company can move forward through the Rogan controversy, and more.
Chen Arad, Chief Operating Officer for Solidus Labs, joins Cheddar News' Closing Bell, where he explains why Wormhole was particularly vulnerable to a $320+ million crypto hack and discusses what new investors need to do in order to protect their assets.
E-commerce platform for construction and building materials RenoRun has raised $142 million in a Series B round, which the company says is the fourth largest Series B round in Canadian history. RenoRun’s platform offers same-day delivery of construction materials to job sites in Canada and the United States. The company aims to revolutionize the construction industry by maximizing productivity and efficiency. RenoRun co-founder and CEO Eamonn O’Rourke joins Cheddar News' Closing Bell to discuss.
Facebook parent company Meta reported weaker-than-expected fourth quarter earnings, and also issued disappointing guidance for Q1 2022. The tech giant is also under pressure due to Apple's iOS privacy change, as well as continued multi-billion dollar losses for its metaverse focused business unit. Angelo Zino, Tech Analyst at CFRA Research, joins Closing Bell to discuss the earnings results, how Apple's iOS privacy change will impact revenue, whether the metaverse is an underrated investment opportunity, and more.
The video game industry has seen monumental growth the past few years - with an increasing amount of companies jumping head first into the space. In January alone, Microsoft announced its plan to acquire Activision Blizzard, game publisher Take-Two agreed to buy Zynga, and most recently, Sony announced it has agreed to buy game developer Bungie for $3.6 billion. Tobias Batton, CEO and founder of Ex Populus, joined Cheddar Movers to discuss the surge in M&A activity in the gaming space.
Facebook parent Meta reported disappointing results in its first quarterly earnings report since rebranding to focus on the metaverse. The tech giant delivered mixed results with quarterly profit falling well below Wall Street expectations. Shares plunged more than 20 percent in after hours trading as a result. Martin Garner, COO of CCS Insight, joined Cheddar Movers to break down the company's results.
Super Group, the company behind leading global online sports betting and gaming businesses Betway and Spin, has landed on Wall Street. The company went public via SPAC with Sports Entertainment Acquisition Corp., and now lists on the NYSE under the ticker symbol 'SGHC.' This debut comes as the U.S. sports betting market continues to heat up with more and more states legalizing the practice. Eric Grubman, chairman of Super Group, joined Cheddar to discuss.
Miami wants to be the crypto capital of the world. Mayor Francis Suarez has gone all in on the blockchain, even accepting one of his first paychecks in Bitcoin, hosting one of the world's largest digital cryptocurrency conferences, and marketing Miami as a great place for tech experts to work. Maja Vujinovic, managing director of OGroupLLC, joined Cheddar's Fast Forward to discuss Miami's enthusiasm toward crypto, some of the potential risks that entails, and where the city might be heading when it comes to the crypto takeover.
