Former US presidential candidate and entrepreneur Andrew Yang will launch a new mobile virtual network operator, a company that uses another carrier’s network infrastructure to resell wireless services.
“I’m just guilty of Doomscrolling like the next person, but knowing that Dookcrolling actually costs me makes me feel ridiculous,” Yang told TechCrunch. “My wallet and financial incentives now are tied to what I want to do. It’s about looking more and having a little less of my phone.”
Using T-Mobile’s network, Noble Mobile offers a $50 monthly mobile phone plan with unlimited talk, text and 5G data. Using less than 20 GB of data per month will help you regain your money in the form of “Noble Cash.” Like credit card points, these can be redeemed for rewards. Alternatively, you can cash out for about $1 for every GB you don’t use below the 20 GB threshold.
The amount of data you use depends on your Wi-Fi access. If you are downloading videos on your home Wi-Fi network, and if you are using common cell phone usage habits, you will not run out of cell phone data. (For context, as a screen-addicted millennial who constantly streams podcasts, audiobooks and YouTube videos on the go, I’m about 13 GB per month, so if I’m cashed I’ll get back around $7 from my $50 payment.)
Noble Mobile has attracted a $10.3 million seed round led by Corazon Capital, with participation from marketing professor Scott Galloway and other ventures.
According to Yang, Noble Mobile looks suspiciously attractive as the average American spends $83 a month on mobile services (although traditional carrier bills may look high as customers pay for their new iPhones in monthly installments).
MVNOs such as Noble Mobile, which T-Mobile acquired for $1.35 billion last year, and Ryan Reynolds’ Mint Mobile, can save costs lower than traditional carriers because they purchase wholesale access to wireless networks rather than building and operating their own infrastructure.
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“We hope that Verizon or AT&T’s business model in particular will continue to freeze us from investments in infrastructure and network quality, and that Americans will not realize that they are spending twice as much on wireless data per person.
To put this into perspective, Verizon paid investors $11.2 billion in cash dividends last year.
Knowing that MVNOs could offer cheaper services, Yang aimed to mark drugs for Cuba’s costs and inspiration.
“He buys generic drugs in bulk and resells them with 15% markup,” Yang said of his Cuban business.
Cuba recently explained to TechCrunch how costs and drugs can be sold at a lower price than most pharmacies, even after building with 15% markup. His business doesn’t usually keep costs down for pharmacy profit managers, or companies that negotiate drug prices for insurance plans. That independence allows him to make the medicine more affordable for consumers while padding his wallet.
“I know what Mark is doing there,” Yang said. “Maybe he’s not profiting to the same extent as other companies, but I can see that he has a great business out there. And I look around and say, “It’s okay, what else can we all spend on American life? “I said. ”
By entering the MVNO market, Yang was able to spin up a similar business, while also adjusting to his stance that we all should be on mobile phones. Yang recently threw “No Phone Party” in LA and NYC as a way to test the waters around Noble Mobile.
Yang’s usage incentives, incentives to use less data may not be useful while watching Tiktoks in bed on Wi-Fi at home, but they may encourage you to do something else rather than opening Instagram while waiting for the subway.
“It’s difficult when you try to think about a policy approach,” Yang said.
He’s not wrong – Congress has been trying to pass laws for years to make the internet safer for children. These policy solutions have proven to be subordinated as they can cause more problems with cybersecurity and online surveillance.
“If they give people money back by doing what they want to do, that means they’re using a little less mobile phone. Perhaps we can make a difference,” he said.
