Ask HN: explain to me what piracy isn't

Right off the bat: I don't support SOPA, I think it is detestable on constitutional grounds and that its existence reflects irresponsibly uninformed and one-sided decision making on the part of congress. That said, I need some clarity on the hacker side of things. I'm a new computer science student, I love startups, and did the "I'm gonna start this awesome startup with my friend even though neither of us is technical" thing back in high school (with typical failure to move past drafting tons of "Business Models"). That said, I like to be involved with the startup culture and work to understand how hackers think. But what I just don't get, is why piracy does not equal theft. I just don't get it. I see tons and tons of people talking about why piracy isn't theft because the object is duplicated, so it isn't taken from the owner, but I don't fully see the flow in that. Musicians have always sold copies, but piracy is taking one without paying for it. The thing that the musician lost is their revenue, or the economic costs of production which they expect to make back. That seems like theft. And the argument that we can't prevent duplication and that the music industry needs to expect it almost sounds lazy, and seems to neglects the music industry almost as much as SOPA neglects the rights of web sites. I think that I just don't understand what solution the idea of "piracy is a reality" poses. That flow never really sat well with me either. Now I am not so brazen as to assume that I've got it right when a sizable community seems to believe otherwise, but I need this laid out, and I think that creating clear and understandable ideologies beyond "This is unforgivable let us do battle" can be a positive exercise for the HN community. So, somebody out there, anyone out there, please tell me why the status quo is ok, why piracy isn't theft, or why my conceptions are all backwards and wrong. I should lose all of my 22 karma within 10 minutes because my misconceptions are being laid out and taken to school. I just need this clarified so I can understand not just that the corporations and SOPA are the worst thing ever, but that we can do much better, and that there is a reasonably collective counter-ideology. Now I've got my own ideas about what should be done and how the system could ultimately be repaired, but I didn't scream those at you, so keep the responses ideological please. And always honest. If you want to do the most good, email me directly at dondg111@gmail.com. And If you want to do the second to most, include what you think the correct ideology pertaining to intellectual property ought to be in your comment.