Operators often express their determination not to let 5G create a massive capex hike, but unless they adopt radically different approaches to deployment, they are likely to get caught up in a spiral of investment. 5G was meant to be all about virtualized, software-based networks, and an open, WiFi-like ecosystem – both trends creating a new cost base. But first wave 5G is looking similar to 4G – mainly physical baseband equipment; increasingly large and complex antenna arrays; high priced spectrum licences; the same old vendors (though even fewer than there were at the start of 4G). If the new, open, software network will have to wait for a future phase of 5G deployment – and if operators do not…