All Internet routers contain buffers to hold packets during times of congestion. Today, the size of the buffers is determined by the dynamics of TCP’s congestion control algorithm. In particular, the goal is to make sure that when a link is congested, it is busy 100% of the time; which is equivalent to making sure its buffer never goes empty. A widely used rule-of-thumb states that each link needs a buffer of size B = RTT × C, where RTT is the average round-trip time of a flow passing across the link, and C is the data rate of the link. For example, a 10Gb/s router linecard needs approximately 250ms × 10Gb/s = 2.5Gbits of buffers; and the amount of buffering grows linearly with the line-rate. Such large buffers are challenging for router manufacturers, who must use large, slow, off-chip DRAMs. And queueing delays can be long, have high variance, and may destabilize the congestion control algorithms. In this paper we argue that the rule-of-thumb (B = RTT ×C) is now outdat...