Paul Allen wants to own everything, including wireless spectrum

Paul Allen, the Microsoft cofounder and prolific investor, has joined the list of bidders for available wireless spectrum under the FCC's January auction. It's not clear why Allen is entering the auction alongside established telephone carriers and Google, but what else do you get a billionaire for Christmas when he already owns a few sports teams, a megayacht, a submarine, and a spaceship?

Since accumulating billions at the side of college pal Bill Gates, Allen has tended to erode his wealth, not add to it, with his investments. TechTV, Oxygen, Charter Communications, and even his American pro sports teams have been money losers. Rather than making wise investments, Allen's company, Vulcan, seems more aimed at catering to the mogul's whims. Maybe the billionaire intends to create a private telephone network for himself and his alien friends.