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November 6, 2011 07:34 pm GMT
When Congress updatedcopyright laws and passed theDigital Millennium Copyright Act (DMCA)in 1998, it ushered an era of investment, innovation and job creation. In the decade since, companies like Google, YouTube and Twitter have emerged thanks to the Act, but in the process, they have disrupted the business models and revenue streams of traditional media companies (TMCs). Today, the TMCs are trying to fast-track a couple of bills in the House and Congress to reverse all of that.Through their lobbyists in Washington, D.C., media companies are trying to rewrite the DMCA through two new bills. The content industry's lobbyists have forged ahead without any input from the technology industry, the one in the Senate is called Protect IP and the one in the House is called E-Parasites. The E-Parasite law would kill the safe harbors of the DMCA and allow traditional media companies to attack emerging technology companies by cutting off their ability to transact and collect revenue, sort of what happened to Wikileaks, if you will. This would scare VCs from investing in such tech firms, which in turn would destroy job creation.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/nz8gl19SRF0/
Why Big Media Is Going Nuclear Against The DMCA
When Congress updatedcopyright laws and passed theDigital Millennium Copyright Act (DMCA)in 1998, it ushered an era of investment, innovation and job creation. In the decade since, companies like Google, YouTube and Twitter have emerged thanks to the Act, but in the process, they have disrupted the business models and revenue streams of traditional media companies (TMCs). Today, the TMCs are trying to fast-track a couple of bills in the House and Congress to reverse all of that.Through their lobbyists in Washington, D.C., media companies are trying to rewrite the DMCA through two new bills. The content industry's lobbyists have forged ahead without any input from the technology industry, the one in the Senate is called Protect IP and the one in the House is called E-Parasites. The E-Parasite law would kill the safe harbors of the DMCA and allow traditional media companies to attack emerging technology companies by cutting off their ability to transact and collect revenue, sort of what happened to Wikileaks, if you will. This would scare VCs from investing in such tech firms, which in turn would destroy job creation.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/nz8gl19SRF0/
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