The Hastings Communications and Entertainment Law Journal (Volume 38, No. 1 pp. 63-90) has just published an article of mine that examines the peering process.  I show that peering "partners" no longer have a common and shared mission.  Instead the parties become opponents on compensation and interconnection arrangements as occurred between Netflix and Comcast.

The article reports on the FCC's concerns about peering and the prospect for government oversight established in the 2015 Open Internet Order.  I suggest that the FCC refrain from intervening unless and until a stakeholder files a formal complaint based on the assertion that the parties cannot achieve a a commercially negotiated arrangement.