In Good Company with Nicolai Tangen HIGHLIGHTS: John Stankey - CEO of AT&T
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Dec 5, 2025 John Stankey, President and CEO of AT&T, dives into the future of telecommunications and AI's impact on data demand. He emphasizes the importance of fiber infrastructure for growth and critiques Europe's telecom lag. Stankey shares insights from the WarnerMedia deal and explores the challenges of integrating content with distribution. He discusses his leadership style, focusing on respect over popularity, and warns about potential challenges like the AI data-center bubble. This conversation is packed with visionary thoughts on transforming a legacy company.
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AI Could Unlock Telecom Growth
- Telecom margins trail big tech because the industry remains highly competitive and grows roughly with GDP.
- AI-driven data demand offers a unique growth cycle if operators invest correctly during this transition.
Household Convergence Drives Value
- Increasing data consumption has historically been monetizable through technology and household convergence.
- Selling multiple services to the same household raises efficiency and long-term returns.
WarnerMedia Deal Taught Limits Of Dual Repositioning
- AT&T bought WarnerMedia during a period of media and telecom repositioning but learned capital and patience were underestimated.
- Repositioning two industries simultaneously strained the public balance sheet and investor patience.