The RIAA – Destroying Value

This piece by Tim Oren is excellent. I haven't posted much about the ongoing battles of the music industry, but I have commented on some other blogs about it. I agree with Tim's views, and think he said it better than I ever could:

Call me naive – [Chorus: You're a hopeless naif.] – but I've got this quaint idea that the idea of a business is to add value. And that the value is judged by the customer, not the seller. By its obstinate and culpably idiotic refusal to understand that technology has changed the way in which the value of music is delivered and understood by listeners, the RIAA and the labels it stands for have turned from value creators into value destroyers, in many different ways. They are well on the way to permanently damaging an industry that has been part of America's cultural heritage, as well as a decent part of our exports to the rest of the world. The bill of particulars…

Exactly. Value is judged by the customer. When customers don't value products or services the way the seller thinks they should be valued, there is a tendency among some sellers to have the government (or lawyers) step in and fix it.

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