How to approach 5G policies Since the 1990s the wireless industry, which runs a specific business model of duplicated competing networks and nationwide coverage, has generally enjoyed the privilege of acquiring most of the newly allocated commercially licensed spectrum. 2G spectrum was allocated practically exclusively to the wireless operators, for example. Following the success of 2G, there has been a strong appetite to replicate similar approach towards spectrum allocation with 3G, 4G and even 5G spectrum allocation. That said from 3G onwards the telecom industry often had to pay material amounts for its spectrum privileges in the form of auction fees. The wireless industry has hence preserved its business model primarily not because this has been the best model for its own prosperity or for utilising spectrum, but because such a model has essentially been imposed on it through the spectrum allocation processes. “ The wireless industry has preserved its not so efficient business model partially because the established spectrum allocation mechanisms did not provide sufficient incentive for change” Perhaps this is the time to realize that spectrum privilege does not mean an automatic win for wireless telecoms. Instead, it could mean obligations, regulations, costs, unclear future commitments, along with a reduced ability to compete and change. To boost their business agility and maximize their own profits in a long-term wireless operators may need to be more open minded about pursuing the best strategic model for themselves at each time rather than aiming for the best protection of their existing model. “ To maximize their own profits wireless operators may need to be more open minded about pursuing the best strategic model at each time rather than aiming for the best protection of the existing model.” The established ways of spectrum allocation could have, in some occasions, led to competitive failures, for example by providing some companies with unmatchable competitive advantages, encouraging the so called spectrum hoarding (acquisition of spectrum mainly to assure that it cannot be used by rival competitors or disruptors), allowing them to build excess capacity that could distort markets, or allowing them to distort competition by utilizing synergies with their existing assets, products and services. With the raise of 5G a fundamentally new opportunity to use spectrum has emerged. This is because 5G also uses higher frequencies than the previous Gs, for which the respective sites have a smaller coverage range. It is deemed that nationwide coverage is practically impossible for frequencies above 3GHz (5G uses for example 3.5GHz and 26GHz). A different and more location-driven business model may appear more suitable. The 3.4-3.8GHz spectrum is deemed as highly valuable for example for high capacity networks inside factories, shopping malls, airports, but also for relatively short-range communication within streets, which could, in some instances, substitute the more expensive fibre-to-thehome connections, and even in-home or commercial in-building WiFi networks. The 3.4-3.8GHz and the 26GHz spectrum will be particularly attractive for businesses, both in production and service industries. They may find 5G superior for their local installations compared to WiFi due to security, but also equipment availability, performance and standardzation. Local 5G networks are likely to become highly strategic for such businesses, enabling automation, but also addressing security and privacy sensitivities around data. For this reason, some businesses, business parks, infrastructure or other companies may wish to build and operate their independent proprietary 5G networks, using their own spectrum and trusted technology partners, rather than being strictly limited to work with nation-wide telecom operators. The idea of private 5G networks is naturally seen as disruptive by the telecoms industry. Hence, there is a debate about the pros and cons of allowing spectrum allocation to local entities vs. allocating the 5G spectrum entirely and exclusively to the nationwide telecom operators. 5G as an opportunity to reform 35