The book discusses the history of information technologies in the US such as phones, radio, TV and the internet. It explores how each technology started open but became controlled by single corporations over time in a typical "cycle." The book argues that both political powers and industries must be constrained to preserve liberty and prevent the control of information. It proposes a "separation principle" where content, infrastructure, and access are independently owned to encourage competition. Finally, it considers if the internet may follow the path of previous technologies and what can be learned from the telephone industry's history.