In 2000 mobile network operators throughout Europe competed for 3G spectrum licences. The preferred auction format of choice by national governments at the time was sealed bid formats to maximise returns. Many operators substantially overpaid for their licences.
After doing so they had to figure out road maps for products and services to generate a return on their upfront investments. In 2001 I was fortunate enough at the time to have a front row seat of developments. It proved the perfect primer for the social, local and mobile world we find ourselves in today.