Megaupload Shut Down
Say what you will about MegaUpload being closed; those guys were making bank. Yesterday, New Zealand police arrested Kim Dotcom (yeah, Dotcom) and a three other people based on “U.S. accusations that they facilitated millions of illegal downloads of films, music and other content.”
New Zealand Police also seized guns, artwork, more than $8 million in cash and luxury cars valued at nearly $5 million after serving 10 search warrants at several businesses and homes around the city of Auckland.
The argument that record labels and movie studios have enough money already is pretty weak when you think that this company had $8 million in cash on hand. Mr. Dotcom, according to the indictment, made $42 million last year.
3 Responses to “Megaupload Shut Down”
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On 01/21/12 11:24 AM, Dylan said:
and not a dime of this money will be seen by an artist who created the pirated material…
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On 01/21/12 2:33 PM, Jay DiNitto said:
Not entirely true. Illegal downloading increases market awareness. Artists could’ve seen greater sales of other goods and services (live shows) because of that.
There’s no way to get definitive metrics on that, though.
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On 01/26/12 3:09 PM, Seth Werkheiser said:
Well, as long as SOMEONE is making money from the illegal trading of files, I guess it’s okay.
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