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)
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.
Sony Corp. of America v. Universal City Studios, Inc., 464 U.S. 417 (1984), 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.
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