For years, BEAD existed mostly on paper. Allocation announcements, challenge processes, initial proposals, restructured proposals, resubmitted proposals. The program generated enormous planning activity and very little dirt moving. That has changed. The first BEAD-funded households are now connected, award agreements are signed across nearly every state and territory, and construction is ramping up nationwide.

For most of the data center industry's history, power was someone else's problem. A developer found a site, secured permits, built the facility, and called the utility. The utility figured out how to deliver the power. That model worked because data centers, even large ones, were a manageable load for regional grids.

That is no longer the situation.

For a long time, the prevailing view in the broadband industry was that wireless could not seriously compete with wired infrastructure for home and business connectivity. The physics were the limiting factor: spectrum is shared, weather and foliage affect signal, and throughput degrades under load in ways that fiber does not.

That view has not aged well.

Copper networks were not built to fail. They were built to last, and in many cases, they did exactly that for decades. The problem is not that legacy infrastructure stopped working. The problem is that the world it was designed for no longer exists.