renowned consulting firm McKinsey & Company advised AT&T not to enter the mobile telephone business, predicting there would be fewer than one million… - Salim Ismail

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renowned consulting firm McKinsey & Company advised AT&T not to enter the mobile telephone business, predicting there would be fewer than one million cellular phones in use by 2000. In fact, by 2000, there were one hundred million mobile phones. Not only was McKinsey's prediction off by 99 percent, its recommendation also resulted in AT&T missing out on one of the biggest business opportunities of modern times.

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McKinsey & Company advised AT&T not to enter the mobile telephone business, predicting there would be fewer than one million cellular phones in use by 2000. In fact, by 2000, there were one hundred million mobile phones.

Additional quotes by Salim Ismail

According to entrepreneur Chris Dixon, the most important change for entrepreneurs versus a decade ago is the ratio of reach to capital. Today, the reach of a startup is 100x larger, while the capital needed is one tenth that of a decade ago — a thousandfold improvement in just ten years.

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