Moore's Law comes to telecom.

New York Times: "WorldCom’s hard assets, including its network, are now worth almost 75 percent less than what they had cost."

UPDATE: Scott Rafer’s take on the same announcement. He thinks we’re ascribing different causes to the writedown, but I think we agree. Worldcom’s problem is that it didn’t build its business (and capex plans) with Moore’s Law in mind.