The Federal Communications Commission is set to auction off what Palihapitiya and others call “beachfront property” of spectrum formerly held by TV broadcasters. It’s a chunk of the radio frequency airwaves well suited to cellphone networks because it can carry through buildings and over long distances. AT&T and Verizon are expected to bid, but some of the spectrum is set aside for smaller players. T-Mobile has said it, too, plans to bid, though cash-strapped Sprint is taking a pass.
Dude's proper legit, and a University of Waterloo alumnus!