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AT&T (stock: T) & Verizon (stock: VZ) are paying out 72% to 85% of their earnings as dividends.  AT&T's rival Verizon dividend paid out $5.4 billion to shareholders in 2010.  Is it a shareholder ponzi scheme that will soon come crumbling down with free open free WiFi competing?  Are you one of the suckers willing to pay $200 extra for the overprice iPad 2 3G and hundreds of dollars per year for high speed wireless access (3G) when WiFi is free?  Fewer Verizon and & AT&T customers are buying the iPad 3G data plans and one of the reasons why Apple's (AAPL) stock is getting crushed.  iPads should be subsidized by the carriers if they want to continue tricking consumers into spending hundreds of dollars extra for mobile data outside of their WiFi home networks. Don't forget AT&T's network drops 50% of calls for iPhone users and they still can't get their network in order.

Why is AT&T not investing more of this money into their wireless infrastructure?  What does this tell you about a company that has the worse customer service complaint history of any big company in the history of business?  Do telecom companies like Verizon and AT&T have your interest of technology evolution as a priority to help improve our lives? Or are these companies simply Government FCC protected ponzi schemes that simply pay off their shareholders with huge dividends to keep everyone quiet? Does it concern you that two of the highest dividend payers on Wall Street are actually keeping us way behind the rest of the world in delivering broadband and wireless speeds? Does it concern you that United States wireless and broadband customers are paying double and sometimes triple the rate for data and voice access compared to the rest of the World? Does it alarm you that this is the same company that wants to filter information that comes over its dumb pipe to you and have you pay more for content? Are you one of the marketing suckers who might be willing to pay $1000 per year for high speed wireless access (4G / LTE) when WiFi is free?

All of these industry concerns have created the perfect storm for an industry to get disrupted by a new business model.  The day of dumb pipes are over and companies who own the content who and advertising will soon be subsidizing the content coming over the dumb pipes.  Free location based WiFi could be the new business that brings this house of cards tumbling down and its already happening in France to some degree. It would only take a few million people opening up internet access on their home and business WiFi networks similar to the Fonera business. Google is only companies that is capable of executing this disruption to scale is Google because of their current advertising footprint.   Its only a matter of time before the AT&T and Verizon dividend ponzi scheme house of cards comes tumbling down.  Free ad supported WiFi is coming

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