Michael Robertson, always the wanna-be defender of the little guy (while stepping all over shareholders, former employees, vendors, customers, musicians, partners, copyright holders, etc.), asked in his latest blog for people to vote for the "Craziest Digital Music Ideas Ever."
Boy, he sure forget a whopper from his list:
My.MP3 - Michael Robertson's pet project which tanked MP3.com from a market cap in the billions to millions. MP3.com went public for over $25 per share, and ultimately sold for under $6 per share. (I'm not sure my dog could have done that poorly.) As usual with Robertson, many investors lost big and employees who held stock options were left underwater, and the artists and customers (who Robertson built MP3.com on the backs of) lost a once-promising website. Of course, Robertson made off big, even if most other shareholders didn't.
Why it was crazy: Because it blatantly violated copyright law, and handed MP3.com the largest judgment for copyright infringement in history. "The complex marvels of cyberspatial communication may create difficult legal issues; but not in this case. Defendant's (MP3.com) infringement of plaintiffs' copyrights is clear." ~ Judge Rakoff
When I get asked, "How do you start a small business?" I answer, "Buy a big one, let Michael Robertson run it, and wait awhile." Robertson never wanted to be known as a "one trick poney." I never understood that. What was his FIRST successful "pony?" Destroying MP3.com?