an enormous impact on the industry. Many of these relatively new companies have achieved astonishing success; much of their success can be attributed to the drive and vision of the entrepreneurs that founded them. Apple, Netflix, Amazon, Google, and Microsoft are examples of former startups that became hugely successful and had pro- found influences on the industry. However, as technology advances, these now-mature companies are faced with many of the same issues as the more established cable TV and telephone companies. They all face the need to continue to innovate in order to develop new sources of rev- enue. This is often difficult; none of these companies are as nimble as they were when they got started. Now, being large companies themselves, it takes longer to make deci- sions and develop products, with more layers of management needed to approve new projects. Moreover, when companies become public, short-term profit requirements often interfere with long-term projects that might not produce results right away. Competition, Industry Structures, and Regulations The rise of Internet giants with huge customer bases was made possible by improvements in the Internet and mobile networks. These improvements have enabled these companies to provide less costly services than cable TV operators, mobile pro- viders, and telephone companies. However, broadband and mobile providers have their own advantage: their extensive broadband mobile and wired networks that connect directly to residential and business customers. Government regulations play a critical role in telecommunications. Important reg- ulatory issues revolve around how to ensure that no single carrier is allowed to block competition and innovation by slowing down competitors' traffic. Doing this without hampering the ability and motivation of the carriers to invest in costly upgrades to keep up with traffic growth is not a simple task. In the United States, the Federal Commu- nications Commission (FCC) must balance pressure from large incumbent telephone comp