Globally, telecoms spent over $8 billion in 5G infrastructure last year, while in the U.S. alone operators spent more than $80 billion on 5G spectrum. The key to unlocking a return on investment will depend on how effectively telecom service providers can monetize those investments with new services. Those services will require a 5G packet core, cloud-native principles, and the ability to interact in new ways with network elements and external entities alike. In this new world, the old ways of thinking about policy and charging must change if the business models of tomorrow are to succeed in this emerging ecosystem.