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James B. Murray, Jr. was an early investor in and broker of cellular telephone licenses. In his two decades of involvement in wireless, Mr. Murray has done deals with hundreds of industry players, from the biggest carriers down to the "little people" who won licenses in the FCC lotteries. A co-founder of Columbia Capital Corporation, a venture capital firm now managing assets in excess of $1.5 billion, Mr. Murray currently runs Court Square Ventures, a venture capital firm specializing in telecommunications and information technology investments. The father of two children, he lives with his wife of 32 years on a farm near Charlottesville, Virginia.
Writing from deep (occasionally too deep) inside the boardroom, Murray who, as chairman and managing director at Columbia Capital, has put together plenty of deals for telecommunications giants like AT&T Wireless and Bell Atlantic charts the rise of the cellular business, for the most part avoiding the canned statements typical of tech histories. In part because he barely offers a snapshot of each man and his company before flashing forward to the next, the book's setting is its most intriguing element. It begins in the early 1980s, when the FCC auctioned the country's cellular phone markets, section by section, to the highest (or, often, simply the most rabid) bidder. Murray treats us to a detailed look at how a ragtag band of media upstarts (and the occasional conglomerate) often risked their futures on a new and mostly unproven technology and established a multibillion dollar industry. While 20/20 hindsight allows us to recognize what a gold mine the cellular business has become, it seemed like anything but a sure thing at the time. Murray's book is most intriguing when he leaves the inner sanctum where the deal making is relayed in detail but without much sense of perspective or drama and shows us how far cellular communications have come (e.g., as recently as 1981, only 24 people in New York could be on their cell phones at one time). Some readers may be disappointed that Murray is more interested in what happened to which company than he is in explaining the societal effects of one of the greatest technological revolutions in history.
Copyright 2001 Cahners Business Information, Inc.
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