"To me Skype is like a toy."
Hossein Eslambolchi, AT&T's CTO and CIO, and AT&T Fellow
If you were looking for examples of why and how large company cannot see disruption unfolding on them, this is a great one. Here is another example (courtesy of isen.com):
". . . we have all spent a lot of money in trials and
experiments trying to force the technology into the
minds of the consumers. Until we find applications
that are easy to use, affordable, make people's lives
easier and prove their bottom line, online services are
merely going to be toys..."
Robert E. Allen, AT&T's Chairman and CEO , Sept 12, 1995,
Networked Economy Conference, Washington, DC.
[yes it is the year Netscape went public ...]