Loki the CatFeb 22

So we’re doing laser-pointer economics again 😼. CNBC says a UUNet employee’s Excel “best case” got treated like law: internet traffic would double every 100 days; WorldCom later filed Chapter 11 in 2002 after disclosing $11B in accounting fraud, and CEO Bernard Ebbers got 25 years. Maybe stop budgeting on spreadsheets?

https://tech.slashdot.org/story/26/02/22/2019241/long-before-tech-ceos-turned-to-layoffs-to-cover-ai-expenses-there-was-worldcom

#WorldCom #OpenAI #Tech

Long Before Tech CEOs Turned To Layoffs To Cover AI Expenses, There Was WorldCom - Slashdot

Long-time Slashdot reader theodp writes: Jeopardy time. A. This company spurred CEOs to make huge speculative capital expenditures based on wild unverified claims of future demand, resulting in the layoffs of tens of thousands of workers to reduce the resulting expenses, harming their core business...

Show threadMarkus FeilnerDec 24

Oh, and #NVIDIA is nothing like #Worldcom. "NVIDIA, you are nothing like Worldcom, why are you even bringing up Worldcom?". And remember: NVIDIA is nothing like ENRON. Got it? Noone said NVIDIA is like ENRON, will you please move on now.

@derpostillon da steckt doch ihr dahinter, oder? Auch ihr müsst einsehen: NVIDIA is nothing like ENRON.

https://en.wikipedia.org/wiki/WorldCom_scandal

WorldCom scandal - Wikipedia

Show threadKevin Karhan Dec 10

@midna @fish yeah.
+1-804/222-1111 is the old #MCI #Worldcom testing line.

https://globafone.com/test-your-device/

Basically every #MNO and/or #MVNO has #TestingLines, it's just that they don't get published.

Show threadKevin Karhan Nov 30

@AeonCypher both of these claims have merit:

Vietnam InsiderNov 6

Once a Wall Street darling, WorldCom’s meteoric rise and spectacular collapse became one of the most infamous corporate scandals in U.S. history — a cautionary tale of greed, deception, and broken trust.

#WorldCom #WallStreet #StockMarket #MarketInsider

https://marketinsider.net/how-a-180-billion-telecom-empire-collapsed-over-a-few-excel-lines-the-rise-and-fall-of-worldcom/

How a $180 Billion Telecom Empire Collapsed Over “A Few Excel Lines” — The Rise and Fall of WorldCom - Market Insider

Once a Wall Street darling, WorldCom’s meteoric rise and spectacular collapse became one of the most infamous corporate scandals in U.S. history — a cautionary tale of greed, deception, and broken trust.

Market Insider
BrewminateJul 3, 2025

📅 TODAY IN HISTORY: July 3, 2002

WorldCom admits to faking $3.8B in earnings.

The scandal shook markets and reshaped corporate regulation.

It’s a timeless warning: fraud hides in plain sight—especially behind spreadsheets.

#WorldCom #OnThisDay #CorporateFraud

newsuausMay 27, 2025

Скандали Enron і WorldCom показали руйнівну силу корпоративного шахрайства. Сьогодні, через 20 років, ризики повертаються. Як захистити фінансові ринки від нових криз? #Enron #WorldCom #ФінансовіСкандали #КорпоративнеУправління #Аудит #Україна

Детальніше: https://newsua.us/node/7756

 Hacker NewsMar 27, 2024
The biggest financial frauds ever – from Sam Bankman-Fried to Bernie Madoff
https://qz.com/financial-frauds-sam-bankman-fried-bernie-madoff-enron-1851367680
#ycombinator #Sam_Bankman_Fried #Bernie_Madoff #Bankman #Business #Finance #Corporate_crime #Ramesh_Balwani #MCI_Inc #BlockFi #Verizon #Enron #Joseph_Bankman #Scott_Sullivan #Cryptocurrency_exchange #WorldCom #AMERICAN_TELECOM #Kenneth_Lay #Bernard_Ebbers #Accounting_scandals #Netflix #Elizabeth_Holmes #Cynthia_Cooper #Theranos #Law #Crime #FTX #Houston_Natural_Gas #Quartz
The biggest financial frauds in American history — from Sam Bankman-Fried to Bernie Madoff

The disgraced former crypto exec known as SBF gets his prison sentence this week. Let's look back at some other major financial crimes

Quartz
Show threadCory DoctorowDec 19, 2023

Or think of #Worldcom vs #Enron. Both bubbles were built on pure fraud, but Enron's fraud left nothing behind but a string of suspicious deaths. By contrast Worldcom's fraud was a Big Store con that required laying a ton of fiber that is still in the ground to this day, and is being bought and used at pennies on the dollar.

5/