The cost of communication has essentially come down to *zero*. Telecom companies just don't get it, as witnessed in Philadelphia. Other examples include skype. So if people don't have to pay to play, where is the revenue stream? Services, content, information, and media. Check out what Masayoshi Son has done in Japan. The funny thing is that with over-capacity in infrastructure, all the value-add over IP companies that went belly-up during the Bubble, actually have a viable value proposition now.