I don’t envy the FCC’s job here. This is an incredibly tricky decision.

The middle is getting squeezed out. People are moving up or down.

It’s a bit of a perfect storm for them right now. They seem to be stubbing their toe in a couple different ways.

Connection cost is a meaningful cost. If the usage would drop, it would reduce companies’ connection cost, and they’d get a slight benefit to their margins.

The industry has gotten the hell beaten out of it because of number portability. The market is assuming it’s going to have a pretty negative impact. If and when it can be determined that number...