Only ten percent of Americans watch TV via over-the-air broadcasts and 51 percent of Americans had 3G or 4G phones in December 2010.

Never mind the quaint idea that one day anyone currently 35 or older will tell their grandchildren about the day they got cable TV or cell phones the size of eggplants. They can be just as amusing or (seem just as old) to their colleagues who are only 25. Indeed, we live in a time of astonishing proliferation of devices, applications and growing demands for spectrum. Unfortunately, we are running the risk of constraining a host of new business opportunities, innovations and consumer benefits because we have not updated how to best allocate spectrum. However legitimate the concerns of various stakeholders in changing how we assign spectrum, the chief question for policymakers is what is the stake for the entire country in innovation in the new frontier of mobile broadband.