It's easy to take for granted many of the technological developments that have reshaped our world in recent decades.  Major disruptive innovations, such as the internet and the smartphone, have proven to be catalysts for further innovation, improving living standards and reshaping entire industries.  In our opinion, we may be at the edge of another inflection point in technological advancement with the transition to the fifth-generation of cellular networking technology, referred to as 5G, over the next decade. While winners and losers will undoubtedly emerge, we believe this transition may offer significant opportunity for investors.