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RIAA Says LimeWire Owes it $72 Trillion

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posted on May, 24 2012 @ 09:44 PM
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reply to post by Maxmars
 


Don't think they'll ever retrieve a cent of it. I think RIAA lost out because they had to pay their lawyers and now expect this ridiculous settlement is going to be paid out? Just ask Fred Goldman how much money he received from the OJ Simpson civil suit.




posted on May, 24 2012 @ 09:49 PM
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reply to post by Maxmars
 


The record industry is completely out of touch with reality. A long time ago, they screwed up by not adapting to the technology available and now the only way they are going to make money is by trying to sue everyone for ridiculous amounts - which, by the way, have no logical basis.



posted on May, 24 2012 @ 10:46 PM
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reply to post by RealSpoke
 


I'm not saying anything about corporations trying to protect their ability to make money because that's obviously a fight they have been picking for a long time.

I'm just saying that instead of running out of walmart with a 6 pack, we are fast enough to steal a plasma T.V.
So keep it in perspective. They didn't go out of business then, but the game has changed.



posted on May, 24 2012 @ 10:55 PM
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In reality, anyone who steals music is guilty of pushing the wealth into the top few percent. Who has the ability to absorb the losses to illegal downloading while still being able to produce? The wealthy. Smaller labels go out of business and the money goes in the hands of the bigger companies.



posted on May, 24 2012 @ 11:02 PM
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reply to post by freakjive
 


Should have asked for Eleventy Gazillion Dollars.

Pretty much the same...


Peace



posted on May, 24 2012 @ 11:33 PM
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reply to post by Maxmars
 


Hi All,

I just wanted to post an update in regard to this story - Thanks to Anon on my Twitter feed




No, The RIAA Is Not Asking For $72 Trillion From Limewire (Bad Reporters, Bad)


In the last day or so we keep seeing people send over variations on this story claiming that the RIAA claims it is owed $72 trillion dollars from Limewire. Many of the reports appear to originate from the NME post I just linked to, though I don't think that's accurate. The story is bogus in almost every way possible, and it's kinda sad that a ton of websites are repeating it as fact.

Anyway, a year ago, in May of 2011, Limewire famously (or so we thought) settled the case for $105 million. That case is basically over.

Either way, tons of other sites picked up on the story, including CBS News, who has since pulled it down entirely and just has a 404 page where it was before.

Full Article (TechDirt.com)




So I hope this helps to clear this up, that although that number has been thrown around rather loosely by certain outlets and online it is no way accurate or substantiated.



posted on May, 25 2012 @ 12:28 AM
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reply to post by MeesterB
 


We were fast enough to steal what we could then that we can now. Taping a movie on a VHS is just as easy as a DVD.



posted on May, 25 2012 @ 12:38 AM
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Originally posted by RealSpoke
reply to post by MeesterB
 


We were fast enough to steal what we could then that we can now. Taping a movie on a VHS is just as easy as a DVD.


so you admit to being a thief?

hmmmmm



posted on May, 25 2012 @ 12:40 AM
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LOL i wonder how much Frostwire owes them



posted on May, 25 2012 @ 01:01 AM
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Originally posted by RealSpoke
reply to post by MeesterB
 


We were fast enough to steal what we could then that we can now. Taping a movie on a VHS is just as easy as a DVD.


Taping seasons of the simpsons in the early 90's on VHS is a lot different than recording t.v. today. Just think.
With a VHS player you have to set the time, use up a limited recording space, replace the tapes as they fill, and use physical space to store them.

With a computer you click download and it is saved on a massive hard drive. Or you can run a t.v. signal through the computer and record hours and hours until the HD is full.

You can't deny that it's easier to record more now than with VHS tapes.



posted on May, 25 2012 @ 03:40 AM
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LMAO. Good luck is all I have to say.



posted on May, 25 2012 @ 07:07 AM
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reply to post by magma
 


No, as I posted previously taping shows is not illegal, it is fair use. Know the law before you accuse people of being thieves. The "stealing" part of my comment was hypothetical as you have to record something to illegally distribute it first.


Sony Corp. of America v. Universal City Studios, Inc., 464 U.S. 417 (1984),[1] also known as the "Betamax case", is a decision by the Supreme Court of the United States which ruled that the making of individual copies of complete television shows for purposes of time shifting does not constitute copyright infringement, but is fair use. The Court also ruled that the manufacturers of home video recording devices, such as Betamax or other VCRs (referred to as VTRs in the case), cannot be liable for infringement. The case was a boon to the home video market as it created a legal safe haven for the technology, which also significantly benefited the entertainment industry through the sale of pre-recorded movies.


en.wikipedia.org...

edit on 25-5-2012 by RealSpoke because: (no reason given)



posted on May, 25 2012 @ 07:11 AM
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RIAA Caught With Its Hand In The Illegal File-Sharing Cookie Jar

lawblog.legalmatch.com...
integrity begins at home
go figure



posted on May, 25 2012 @ 07:18 AM
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It seems the story mat be misquoted, misunderstood, misreported, or just plain cow poo!

www.techdirt.com...

Someone work out the date in 72 trillion weeks time..... pay them a dollar a week and tell them to shove it


Where's Bob Geldof.....

Oh... thank you Havick007 for previously posting the article.

Shoot me.
edit on 25-5-2012 by Mufcutcakeyumyum because: (no reason given)



posted on May, 25 2012 @ 08:45 AM
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Originally posted by alphabetaone

Originally posted by KnightFire
First, I say good luck getting $72 billion in this market.

Second, being hypothetical, if they did get that $72 billion, I bet the record label companies would keep it all for themselves. They're use to jamming it to the artists.



Look again, they said TRILLION.....it's just not possible


My bad. Thanks for the correction!! My fingers have a mind of their own.



posted on May, 25 2012 @ 09:17 AM
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reply to post by Mufcutcakeyumyum
 


I read more on this gaffe this morning. It seems NME (Brit mag - New Music Express) started this bogus ball a-rolling.

As I mentioned on page 1, the case was settled for 105 Million (big giant massive win for Limewire) and that's that.



posted on May, 25 2012 @ 09:35 AM
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reply to post by PW229
 


This video actually answered my questions why suing for trillions instead of millions. Thank you as it proves my point exactly!!!

*S*
edit on 25-5-2012 by Skywatcher2011 because: (no reason given)



posted on May, 25 2012 @ 10:29 AM
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I find it reassuring that we were able to determine the weakness in the reporting in this case.

However, ever the conspiracy theorist, I can't help but wonder if the dissemination of the story had a purpose other than "a mistake."

While it is true that the amount the RIAA was claiming to have been owed in punitive damages "could have reached" trillions (according to the judge which noted the absurdity of the number) it seems that sensationalism in journalism... i.e. "shock headline" seeking, has attempted to capitalize on the "error" of the assertion.

This story will go down in my journals as an example of what the industry does in it's propaganda war... and "war" may be a more apt analogy than "business" in this case.
edit on 25-5-2012 by Maxmars because: (no reason given)



posted on May, 25 2012 @ 10:44 AM
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People still use Limewire? O.o I thought everybody uses torrents now a days...



posted on May, 25 2012 @ 12:58 PM
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reply to post by reeferman
 


You cannot PATENT a sound. You COPYRIGHT music.

You PATENT an item. You TRADEMARK a name or LOGO.





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