Helium Mobile

Amir Haleem created the Helium Network in 2013 to provide low-cost IoT connectivity, initially attempting a centralized deployment approach. Building useful network coverage required $50 million in upfront capital, forcing Haleem to abandon the model after years of slow progress and employee departures. A decade later, the company had evolved into a decentralized mobile network operator serving over 120,000 subscribers with the industry's lowest-cost unlimited phone plan. Helium’s key innovation was a blockchain-powered crowdsourcing model that transformed telecommunication economics. Instead of building infrastructure centrally, Helium created a system where individuals collectively built and operated network hotspots, coordinated through blockchain technology and economic incentives. Network operators earned tokens based on how much useful coverage they provided—essentially running small businesses while sharing in the network's success through token ownership. This community-owned approach, combined with a partnership with T-Mobile, enabled Helium to offer dramatically lower prices while maintaining service quality. The company’s success created new challenges: competitors were copying their model while other infrastructure projects wanted to expand their platform beyond telecommunications. In September 2024, Haleem must choose between doubling down on mobile growth to maintain competitive advantage—or becoming a general platform for decentralized physical infrastructure networks (DePIN).