Pandora’s Bailout Doesn’t Hold Up to Scrutiny

Thank goodness there are some clear heads out there who are drilling down on the smoke that Pandora has been blowing while crying to Congress.  If there was ever a better example of faux entrepreneurs I don’t know what it would be.

Here’s a great one from the Seeking Alpha financial blog “Crying To Congress Will Not Save Pandora’s Investors”:

The solution, Tim, is quite simple. It’s not a matter of crying to congress asking for a law to protect how much you have to pay for the music you give away to listeners for free. It’s a matter of increasing advertisements delivered to your listeners on a per song basis, or charging a subscription fee so that you can pay the requested royalty rates and concurrently turn a profit. Investors need to ask themselves why Pandora is petitioning congress for a law which will tell rights holders how much they are allowed to charge for their work, rather than simply ramping up the delivered ads or creating a subscription based service.

Also CNET isn’t buying it “Pandora Offers Song and Dance About Music Sales“:

Pandora’s leadership is trying to whip up support to get the government to lower the rate Internet radio services pay to play music. This will be the second time in Pandora’s history that the company has asked for price breaks.

Game of Trolls: Stacey Dash gets the Troll Treament for Supporting Conservative

Welcome to the Internet Stacey Dash!  Isn’t the community just grand?

According to FoxNews.com:

“Clueless” star Stacey Dash recently tweeted her support for Republican presidential candidate Mitt Romney, accompanied by a patriotic swimsuit picture of herself.

But now her political viewpoint has become the subject of online attacks, with many expressing crude distaste that she isn’t endorsing President Obama – and race has become a key motivator behind the digital abuse.

Several other Obama supporters even went as far as to encourage “the old hag” to “kill herself.” One suicide encourager is listed as a doctor and politically active Democrat in Washington D.C., and although he reportedly has deleted the inflammatory “kill yourself” tweet, it was captured by social media news site, Twitchy.com.

But the 46-year-old’s plug for Romney attracted plenty of applause, too.

“Thank you for being willing to think for yourself despite what your haters have to say,” tweeted one user, while another noted, “You can NEVER, EVER (did I say never?) NEVER leave the Dem party if you r Black. Once you do, the name calling begins.”

Will Romney take on Russian Mob?

We all know that somehow most of the big Bit Torrent cyberlocker services resolve back to Russia, Bulgaria, Latvia, or some other location in the former Soviet Union (take a read of the Hotfile case documents).  Here’s a great speech by Romney playing off of Obama’s ridiculous flexibility pledge to Vlad.  But will a Romney Department of Justice be willing to go off of Putin’s safe zone and nail these IP theives?

Word from Mitt:

In a foreign policy speech at the Virginia Military Institute, Republican  presidential candidate Mitt Romney declared that “there will be no flexibility  with Vladimir Putin” in his administration, alluding to President Obama’s  conversation with outgoing Russian President Dmitry Medvedev over a hot mic in  March.

“The first purpose of a strong military is to prevent war. The size of our  navy is at levels not seen since 1916,” Romney said Monday. ”I’ll restore  our navy to the size needed to fulfill our missions by building 15 ships per  year, including three submarines.”

“I’ll implement effective missile defenses to protect against threats and on  this, there will be no flexibility with Vladimir Putin.”

Chaffetz abandons all pretext of conservative principles

The supposed grass roots conservative from Utah, Jason Chaffetz, has demonstrated conclusively that he is drinking the Koolaide inside the beltway.  The evidence?  Passing a bill of attainder to punish musicians and for the profit of a single group of crony capitalists!

The Daily Caller’s Mark Carello nails it:

So I was a little surprised, even taken aback, to see Rep. Jason Chaffetz  (R-UT), a committed conservative, introduce a bill that primarily helps this one  company receive a special government handout by lowering the standard the  government uses to set the price for that company’s input costs.

What? If you just did a double take, you didn’t read this incorrectly. The  digital music delivery company Pandora wants the government to lower the  standard it uses to set the price that Pandora pays for the music it delivers on  its service. The current standard is “what a willing buyer would pay a willing  seller” in the marketplace.

And what’s wrong with that standard? It’s bad enough the government is in the  price-setting business in the first place, but at least it has to try to set the  price at a rate that tries to mimic the marketplace. Pandora is lobbying to  replace that market-based rate standard with a subsidized below-market one. And  Rep. Chaffetz is carrying their water.

 

Amanda Palmer’s free lunchism

This quote from the New Yorker’s Culture Desk sums it all up (Amanda Palmer’s Accidental Experiment with Real Communism by Joshua Clover)

How do we value that, when the market—the very mechanism that we rely upon to set value—has imploded, and most anyone can listen to a new album for free? What happens to art, be it Amanda Palmer’s or Azealia Banks’s (or Thomas Pynchon’s or Kathryn Bigelow’s), when people can get it for free without facing arrest? Or, to put it more starkly, what is the fate of art after private property is done away with? Will people keep making it? Will they keep reproducing, marketing, and distributing it?