While most technology investors tend to focus on the newest and most groundbreaking ideas, almost every new idea rests on the shoulders of old ones. One of those old technologies, which also happens to be the one most taken for granted, is the cellphone.

Growing up, my parents had one of those old cellphones that had a battery the size of a briefcase. Having to lug the thing around was often used as a form of punishment; and while it kept the phone charged, often there wasn’t a signal.

Nowadays, the vast majority of the country is covered by cell towers and you can download a high-definition movie while sitting in your deer stand in the backwoods.

And coverage is about to get even better.

Two weeks ago the Federal Communications Commission approve a plan opening up a huge swath for 5G wireless networks. 5G networks will be 10 to 100 times faster than the 4G networks currently in use.

Outside the usual tech publications, the announcements haven’t gotten much attention, but 5G really will be game changing. For one thing, Network response times will be slashed from hundredths of seconds to milliseconds. And data traffic jams will be reduced.  

This not only matters to you as a cellphone user, but it matters to you as a tech investor interested in everything from smart cars to the Internet of Things.

Smart cars are one of the major themes we’re following in Breakthrough Tech Profits though so far smart cars are still mostly in the testing stages. For that technology to take off we need 5G technology in place.  The safety of car passengers will depend on the faster data that 5G provides.

The Internet of Things (IoT) is another of our themes, and it also requires faster networks to evolving. The IoT has the potential to connect virtually all computer-enabled devices, allowing more efficient monitoring and control of everything from power plants to traffic systems.

So yes, the 5G network upgrade does mean you’ll have faster and more reliable phone service. But it is also the catalyst needed to scale up smart cars, the IoT, remote medical services and a host of other things that will make smart tech investors (and Breakthrough Tech Profit readers) a lot of money.