Waller dropped the surprising statistic that worldwide there are one billion people who use cell phones–but don’t own one; instead they share, borrow or rent them.
The Cloud Phone was intended to serve this market. At first Waller tried to create a cell phone that could be manufactured for just $5 so that everyone could afford one, but he couldn’t pull it off.
Instead Waller went with a $25 phone, but designed it so that a village of users could share it while still maintaining individual phone numbers accounts on a single phone. Activation cost? Just 10 to 20 cents per person.
Read the full interview, which is filled with interesting insights on how the other half uses their phones.