FCC Chair Claims Broadband Investment At Historic Low Level Because Of Net Neutrality; That’s Not What The Numbers Say
This morning, FCC Chairman Ajit Pai made a claim that net neutrality, which hasn’t even been in place for two years, has driven investment in U.S. broadband to historically low levels. However, the actual numbers given by the nation’s largest cable and telecom companies don’t appear to back this up. Speaking at Mobile World Congress in Barcelona, Pai blamed net neutrality for causing uncertainty in the broadband market and declared that “uncertainty is the enemy of growth.” However, many of the nation’s largest broadband providers have grown in the last two years. Since Feb. 26, 2015, the day that the FCC voted to approve the neutrality rules, AT&T’s share price has increased by more than 20%, Comcast’s is up 26%. Verizon’s stock price is at the same level as it was, though it has fluctuated as much as 15% in either direction since then. Charter’s share price is up 40%, after the FCC allowed it to acquire Time Warner Cable and Bright House in 2016. The only major broadband provi...