100% agree. Spotify likes to tell a story about how they “saved the music industry from piracy”… but piracy clearly won. Napster et al reset consumer expectati

100% agree. Spotify likes to tell a story about how they “saved the music industry from piracy”… but piracy clearly won. Napster et al reset consumer expectations that you get everything for almost free, instantly. The heart of the artist payment problem isn’t that Spotify pays out too little, it’s that listeners don’t pay in enough. But this isn’t just a problem with music, its a problem when trying to figure out pricing for anything digital. All of our intuitions about what a physical thing in the real world should cost get really screwed up when theres zero cost to duplicating and we’re dealing with geographically unbounded internet-scale distribution channels.