One major difference: it takes a lot of work and resources to turn a startup into a public company, but it takes little to turn an artistic work into a product.

One major difference: it takes a lot of work and resources to turn a startup into a public company, but it takes little to turn an artistic work into a product. One might argue that record labels provide most of their value by finding good music, and saving customers the time it would take to do that on their own. (IMO this view is far too charitable to the labels.) Even then, internet is already doing this job better than the labels, and is still rapidly improving. The law should keep up. Saying that artists benefited from their arrangement with the labels is akin to saying that indentured servants benefited from theirs. That is, true in a narrow sense--the indentured servants did get food and shelter, didn't they?