T - AT&T Inc.

Average business that will never compound wealth at a high return.

Cited as a large conglomerate that pays dividends but won't help compound wealth

AT&T is mentioned alongside Verizon as a legacy telecom provider that could be disrupted by Starlink's direct-to-mobile satellite connectivity offering.

Traditional telecom companies cannot compete with Starlink's satellite-based infrastructure. Structural cost disadvantage versus SpaceX's satellite approach.

Cited as a cautionary example — slashed its dividend by 46% in 2022. Used to illustrate the danger of chasing high dividend yields.