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Did a Chinese Hack Kill Nortel?

bloomberg.com

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Re: Did a Chinese Hack Kill Nortel?

#31

Post by 11thEarlOfMar »

WalterBright wrote: post #20
11thEarlOfMar wrote: post #11

Earlier quoted context omitted.

Lol, that's me and AMZN. Bought at (split adjusted) $1.50 in 1997, rode it up to $86 in 1999, held all the way down to $6. Finally sold at about $20, still thinking I was brilliant. I have to laugh about it cuz I can't bear the alternative.

Haha, I bought AOL in the late 90's, rode it up 10x, then sold it when it sank back to 1x. A couple stocks I bought augered in so bad they were just removed from my brokerage statements, never to be seen again.

Yup, it cost me more to sell CMTN than it was worth. Lost 101% on that one!

Re: Did a Chinese Hack Kill Nortel?

#32

Post by jrockway »

Ghjklov wrote: post #13
11thEarlOfMar wrote: post #11

Earlier quoted context omitted.

Lol, that's me and AMZN. Bought at (split adjusted) $1.50 in 1997, rode it up to $86 in 1999, held all the way down to $6. Finally sold at about $20, still thinking I was brilliant. I have to laugh about it cuz I can't bear the alternative.

It's alright, no matter how bad that feels, it will never be as bad as all of us who missed the BTC boat when it was a little baby a few years ago. People spending it frivolously and treating it like it was worthless toy money since it was pretty easy to get. Then look at it now...

I have a friend who got into Bitcoin early. He had almost $300,000 when MtGox got hacked and he lost everything.

So it wasn't all sunshine and roses.

Re: Did a Chinese Hack Kill Nortel?

#33

Post by smabie »

CamperBob2 wrote: post #29
Hongwei wrote: post #5

My parents lost a small fortune in 2001 riding the tech crash down (Nortel was a good chunk of that). I've been trying to explain to them (1st gen Chinese immigrants) for the past three years that Nortel was killed partly by focused Chinese spying and IP-theft by Huawei. CSIS has know about this for years. They (my parents) just wouldn't believe it until I showed them this article. Their former university classmates…

Be sure to explain to your parents that this particular news outlet (Bloomberg) has a history of playing fast and loose with reality, particularly in regard to supposed Chinese industrial espionage activities. [1] Also you might point out that the company pays bonuses to its "journalists" for successfully affecting financial markets. [2] 1: https://appleinsider.com/articles/19/10/04/editorial-a-year-... 2: https://ww…

Are you suggesting that Nortel wasn't hacked by the Chinese?

Re: Did a Chinese Hack Kill Nortel?

#34

Post by smabie »

alynn wrote: post #21

Have any other sources corroborated this story? Bloomberg News lost a ton of credibility with me after their “The Big Hack” cover story [1], claiming Apple and Amazon had been hacked by chips secretly added to their servers in the factory. The picture of the chip on the cover was purely a work of imagination. To my knowledge, no supporting evidence was ever produced, nor were any of the widespread criticisms of the s…

There are direct on the record quotes from different people with knowledge about it in this article. You could pretty easily interview or email them and find out.

Re: Did a Chinese Hack Kill Nortel?

#36

Post by geofft »

smabie wrote: post #33
CamperBob2 wrote: post #29

Earlier quoted context omitted.

Be sure to explain to your parents that this particular news outlet (Bloomberg) has a history of playing fast and loose with reality, particularly in regard to supposed Chinese industrial espionage activities. [1] Also you might point out that the company pays bonuses to its "journalists" for successfully affecting financial markets. [2] 1: https://appleinsider.com/articles/19/10/04/editorial-a-year-... 2: https://ww…

Are you suggesting that Nortel wasn't hacked by the Chinese?

The article itself suggests that it's a possibility. There's no evidence connecting the hack to Nortel's flagging fortunes, and there's no evidence connecting Huawei's success to the information in the hack.

The article makes a much stronger argument that effective Chinese government support of Huawei and the failure of the Canadian government to support Nortel, as well as Huawei's ability to hire away many of Nortel's top researchers, led to their success.

(The journalist's own summary of her article: "It turns out Canada really blew it." https://twitter.com/natalieobiko/status/1278366529591980032)

Re: Did a Chinese Hack Kill Nortel?

#38

Post by geofft »

CamperBob2 wrote: post #29
Hongwei wrote: post #5

My parents lost a small fortune in 2001 riding the tech crash down (Nortel was a good chunk of that). I've been trying to explain to them (1st gen Chinese immigrants) for the past three years that Nortel was killed partly by focused Chinese spying and IP-theft by Huawei. CSIS has know about this for years. They (my parents) just wouldn't believe it until I showed them this article. Their former university classmates…

Be sure to explain to your parents that this particular news outlet (Bloomberg) has a history of playing fast and loose with reality, particularly in regard to supposed Chinese industrial espionage activities. [1] Also you might point out that the company pays bonuses to its "journalists" for successfully affecting financial markets. [2] 1: https://appleinsider.com/articles/19/10/04/editorial-a-year-... 2: https://ww…

Yeah - I was shocked to see that "The Big Hack" was their suggested "read next" article. You'd think they wouldn't want to remind people about it.

Re: Did a Chinese Hack Kill Nortel?

#39

Post by chvid »

The telecommunications industry goes from a massive bubble in year 2000 to an extreme cost focus just one or two years later. Sending tens of thousands of engineers into unemployment and cutting research and development to the bone.

Talk to anyone who had a job in the sector back then, they will you this.

All those engineers eventualy were reemployed in other industries such as software and that helped creating the boom that came there. But it also created an opening for the Chinese electronics industry to move into that area as they were cheap and willing to invest unlike us in the west.

Re: Did a Chinese Hack Kill Nortel?

#40

Post by CamperBob2 »

smabie wrote: post #33
CamperBob2 wrote: post #29

Earlier quoted context omitted.

Be sure to explain to your parents that this particular news outlet (Bloomberg) has a history of playing fast and loose with reality, particularly in regard to supposed Chinese industrial espionage activities. [1] Also you might point out that the company pays bonuses to its "journalists" for successfully affecting financial markets. [2] 1: https://appleinsider.com/articles/19/10/04/editorial-a-year-... 2: https://ww…

Are you suggesting that Nortel wasn't hacked by the Chinese?

I'm suggesting that I don't know if Nortel was hacked by the Chinese, and that I don't know if any such hack was responsible for the company's eventual downfall, and that reading a Bloomberg article will be of little or no help with either condition.
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