Broadbandits: Inside the $750 Billion Telecomm Heist / Edition 1

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Praise for Broadbandits

"Om Malik’s spread of blame for the Internet bubble shows there’s plenty to go around. For my part, I am sorry and promise almost never to do it again. Malik holds a special place in hell for Salomon stock promoter Jack Grubman. But then Wall Street should have weeded him out way back when they caught him lying about going to MIT."
–Bob Metcalfe, MIT graduate, Ethernet inventor, 3Com founder, InfoWorld pundit, and Polaris partner

"Broadbandits weaves together a story of greed, money, power, and crime to reveal to the millions of people who lost their investments in telecom stock where, and to whom, their hard-earned dollars went."
–Charles Dubow, Executive Editor,

"Om Malik has the courage to write that instead of reporting EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) the CEOs he calls broadbandits reported their own style of EBITDA (Earnings Before Irregularities, Tampering, and Dubious Accounting). His pen is as wicked as Mark Twain’s."
–Blaise Zerega, Managing Editor, Wired magazine

"Rare, for a book in its field, Broadbandits is an attractive, stodge-free read. Accessible, even mischievous, it should prove instructive not merely to geeks, (disgruntled) venture capitalists, and bankrupt telecom tycoons, but also to that species most neglected of all–the lay reader."
–Tunku Varadarajan, Editorial Features Editor, The Wall Street Journal

"Broadbandits is a fast-paced tale of the key players responsible for inflating the telecom bubble. Many were fools, many others rogues, some managed to escape with riches, some were ruined. With an unforgettable cast, Broadbandits is a sobering account of monumental financial waste and the derailment of hundreds of thousands of lives."
–Andrew Odlyzko, Director, Digital Technology Center and Assistant Vice President for Research, University of Minnesota

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Editorial Reviews

Library Journal
The latest in an increasingly popular string of works analyzing another burst bubble, this book takes on the demise of the telecom broadband industry. The author, formerly a writer at Red Herring and now an editor at Forbes, focuses on the individuals and corporations involved in some of the most egregious hypes and heists of the telecom industry. The individuals profiled include Bernie Ebbers (WorldCom), Phil Anschutz (Qwest), Gary Winnick (Global Crossing), Jim Crowe (Level 3 Communications), Ken Rice (Enron), Alex Mandl (Teligent), John Doerr (Excite@Home), Teddy Forstmann (Forstmann, Little & Co.), Jack Grubman (Salomon Smith Barney), John Roth (Nortel), Gururaj Deshpande and Daniel Smith (Sycamore Networks), and Vinod Khosla (Cisco). This is a lively work, though edging toward overblown, which delights in dishing the dirt on some once high and mighty industry giants. By providing background and details, however, it helps the reader connect individuals with corporations and gives insight into the tangled web that has now almost completely unraveled. Purchase where there is interest.-Susan Hurst, Miami Univ. Libs., Oxford, OH Copyright 2003 Reed Business Information.
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Product Details

  • ISBN-13: 9780471434054
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 5/23/2003
  • Edition description: First Edition
  • Edition number: 1
  • Pages: 352
  • Product dimensions: 6.18 (w) x 9.18 (h) x 1.14 (d)

Meet the Author

OM MALIK is a Senior Writer for Business 2.0 in San Francisco. Prior to joining Business 2.0, he worked for Red Herring and Forbes Online, where he was a senior editor. An award-winning journalist, his work has also been published in newspapers and magazines such as The Wall Street Journal, Forbes, Brandweek, and Crain s New York Business. For a very brief while, he was a venture capitalist.

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Table of Contents

Broadbandits: The Most Wanted List.



1. Bernie’s Bad Idea.

2. Rocky Mountain High.

3. Once a Junkie, Always a Junkie.

4. Billionaire versus Billionaire.

5. The Attack of the Clones.


6. Fresh Prince of Hot Air.

7. Nobody@HOME.

8. Teddy Gets Taken to the Cleaners.

9. The House (of Cards) that Jack Built.


10. Canadian Rhapsody.

11. The Dan and Desh Show.

12. Just an Illusion.

13. The Swami of the Broadband Boom.

Epilogue: The End Game.


Appendix A: Cash & Carry.

Appendix B: Bank Balance Buildout.



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Customer Reviews

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Sort by: Showing all of 2 Customer Reviews
  • Anonymous

    Posted May 5, 2004

    Highly Recommended!

    If you¿ve even glanced at your retirement account balance or brokerage statement in the past few years, you no doubt have felt the effects of the broadband bubble. Less publicized than the tech wreck of 2000, the broadband meltdown was every bit as costly. Journalist Om Malik gathers the varied tales of telecom shenanigans anddf then adds up the stock sales so you can see just how much the broadbandits took. Malik¿s engaging and vitriolic writing style is fun to read, and he makes the intriguing assertion that the telecoms outdid the dot-coms in terms of sheer greed and gall. We suggest this book to any investor who hopes not to get burned, and to any executive responsible for safeguarding shareholder value.

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  • Anonymous

    Posted October 18, 2003

    What, if any, role did the author play in the banditry?

    An obvious question. Forbes ran a lot of stories about Gilder, and the Herring had details and color, but not much negative.

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