$60B of hot air evaporates. The U.S. auction is down to $10B compared to most estimates of $60-80B. Tim Farrar, one of the best analysts in this space, tells me it might come back up modestly, winding up at $0.90/MHz/pop. Last time, it came to $2.63/MHz/pop. Technology is increasing capacity of current spectrum faster than demand is growing. See my article Wireless Abundance is here: What Gig LTE, Massive MIMO, mmWave, and more can mean and the reporting on MIMO and Gig LTE.
Everyone is better off with lower spectrum prices except those who own some. The broadcasters got the spectrum for nothing and mostly weren't using it. Every dollar in this auction would be a windfall profit, mostly to very rich men. Some of them are now crying like babies whose toys were taken away.
The prospects of spectrum holders Dish and Straight Path are dark.