They are devising ways to send optical signals vast distances without the need for expensive electronic goosing, tinkering with mirrors to switch and bend light in new ways and trimming costs to open up entirely new parts of the telecom infrastructure.

FORBES: Hooked on photonics

For now, Wall Street believes in Cisco chief John Chambers, the Billy Graham of Internet Protocol, who proselytizes that the entire telecom world will make a fast conversion to IP, abandoning the "circuit switch" networks in which Lucent reigns.

FORBES: Wired and restless

With Asterisk loaded onto a computer, a decent-size company can rip out its traditional phone switch, even some of its newfangled Internet telephone gear, and say good-bye to 80% of its telecom equipment costs.

FORBES: Dial D for Disruption