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Hey yâall, itâs Austin in Los Angeles. The U.S. is about to start destroying tons of Huawei and ZTE equipment. But first⦠Todayâs top tech news: - Amazon boosted its workforce 75% during Covid, and is [still hiring](
- The $532 million NFT sale [that wasnât](
- Bloomberg has details on [Metaâs watch](, an Apple Watch competitor under development The great Huawei purge All over the country, hardware from [Huawei Technologies Co.]( and ZTE Corp. keeps American telecom networks humming. In the coming months, many of those networks are going to start ripping it all out. On Friday, the U.S. Federal Communications Commission officially kicked off the reimbursement program for replacing equipment from the two Chinese companies, both of which have been deemed a threat to national security. That means that telecoms can apply for subsidies to purge the hardware from their networks. A lot has been made of the [geopolitical connotations]( of [the technology blacklist](, which includes Huawei and ZTE, but the physical logistics of overhauling the nationâs connectivity infrastructure is just as complicated given how much banned equipment is currently in the wild. The process that started last week allows telecoms to file expenses for wiping out the hardware. Whenever those funds are approved and sent, âthe clock starts ticking,â says John Nettles, president of Alabama-based Pine Belt Communications Inc. âYouâre expected to complete it within one year after receiving your first reimbursement.â For the target recipients of the program, small and usually rural carriers with no more than 10 million customers, that means 2022 is going to be an insanely busy year. Without expansive subsidies, these telecoms have said they would not have been able to afford to comply with the government mandate, but now with federal reimbursements, theyâll soon be under the gun to source enough labor and eligible replacement gear to meet the FCCâs deadline. Nettles estimates itâll likely take a four-person crew a week to overhaul each of his 67 towers. âItâs going to be a pretty intense effort, and I probably have one of the smallest networks that needs to be swapped out,â he explains. Making matters more difficult, Nettles says telecoms are also required by law to trash the Huawei and ZTE equipment. Itâs not as easy as throwing the components in a recycling bin. âThereâll be vendors popping up with industrial-strength shredders. Weâll throw it all in there and watch it get crunched up,â he says. But not before they have new hardware ready for installation from the [likes of Ericsson or Nokia Oyj](, lest they cut off web and mobile access for droves of American consumers. âOtherwise, youâre going to have a service gap,â Nettles says. âWe call it ârip and replaceâ but it really needs to be âreplace and rip.ââ With the [chip shortage disrupting supply chains](, Nettles worries whether he and his counterparts around rural America will be able to complete the rollout (or re-rollout) of the necessary equipment seamlessly and within budget. But thereâs still time to get their ducks in a row. The FCC has given carriers until mid-January to apply for reimbursements, at which point theyâll go through a review and financial allotment process, possibly finishing up around this coming spring. If carriers donât receive enough subsidies, theyâll be faced with some hard choices. Nettles estimates it might take $25 million or so to fund his particular revamp. If Pine Belt gets less, he wonders, âDo I just shut down a fifth of my network? Or do I go out and try to find funding elsewhere?â For now, heâs been reading through the copious paperwork on the FCC filing process, which he expects will consume him and his team for the foreseeable future. âI sent it to them saying, âGiddy up, this is going to characterize your life for the next three to six weeks,â Nettles says. âItâs looking like itâs going to be a pretty daunting task.â â[Austin Carr](mailto:acarr54@bloomberg.net)
If you read one thing Apple and Amazon have shed [more than $160 billion]( in combined market value after reporting disappointing earnings and warning of a difficult holiday season. Microsoft, meanwhile, became the [worldâs most valuable company]( on Friday. Hereâs what you need to know Amazon disclosed a 20% stake in [Rivian Automotive](, the electric-vehicle upstart vying with Tesla. A new streaming service Donald Trump has said heâs launching will be run by a [producer behind]( âDeal or No Dealâ and âAmericaâs Got Talent.â Ether, the second-largest cryptocurrency, surged to a [record high]( above $4,400 on Friday. Meet Tesla's hidden billionaireâthe retail trader who quietly amassed a [$7 billion]( stake in the company. Follow Us More from Bloomberg Dig gadgets or video games? [Sign up for Power On]( to get Apple scoops, consumer tech news and more in your inbox on Sundays. [Sign up for Game On]( to go deep inside the video game business, delivered on Fridays. Why not try both?  Like Fully Charged? | [Get unlimited access to Bloomberg.com](, where you'll find trusted, data-based journalism in 120 countries around the world and expert analysis from exclusive daily newsletters. You received this message because you are subscribed to Bloomberg's Fully Charged newsletter. If a friend forwarded you this message, [sign up here]( to get it in your inbox.
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