For many, many, many years, we’ve talked about how the legacy entertainment industry will seek to kill the Golden Goose by strangling basically any innovation that is helping it adapt to new innovations. We saw the same pattern over and over and over again. The simple version of it goes like this: the legacy entertainment industry sits around and whines about how awful the internet is because it’s undermining its gatekeeper business model that extracts massive monopoly rents, but does nothing to actually adapt. Eventually, companies come along and innovate and create a service (a) people want that (b) actually is legal and pays the legacy companies lots of money. This should be seen as a win-win for everyone.
But the legacy companies get jealous of the success of the innovator who did the actual work. They start to overvalue the content and undervalue the innovative service. The short version of this tends to pop up when a legacy entertainment exec says something like “why is i