X

Aggregator

How Napster Inspired a Generation of Rule-Breaking Entrepreneurs

Slashdot
3 weeks 1 day ago
Napster's latest AI pivot "is the latest in a series of attempts by various owners to ride its brand cachet during emerging tech waves," Fast Company reported in July. In March, it sold for $207 million to Infinite Reality, an immersive digital media and e-commerce company, which also rebranded as Napster last month. Since 2020, other owners have included a British VR music startup (to create VR concerts) and two crypto-focused companies that bought it to anchor a Web3 music platform. Napster's launch follows a growing number of attempts to drive AI adoption beyond smartphones and laptops. And tonight the Washington Post re-visited the legacy of Napster's original mp3-sharing model, arguing Napster "inspired successive generations of entrepreneurs to risk flouting the law so they could grow enough to get the laws changed to suit them, including Airbnb and Uber." "Napster to me embodies the idea that it is better to seek forgiveness than permission," said Mark Lemley, director of Stanford Law School's Program in Law, Science & Technology. "It didn't work out well for Napster or for many of the others who got sued, but it worked out very well for everyone else — users, and eventually the content industry, too, which is making record profits...." [Napster co-founder Sean] Parker later advised Spotify, and Napster marketing chief Oliver Schusser is now Apple's vice president for music. Although many users saw Napster as an extension of rock-and-roll rebellion, that was not the company's real plan. First Fanning's majority-owning uncle, and then venture capital firm Hummer Winblad, wanted the start-up to leverage its knowledge of individual music consumers to make lucrative deals with the labels, according to internal documents this reporter found in researching a book on Napster. They warned that if no agreement were reached and Napster failed, more decentralized pirate services would take the audience and offer the labels nothing. But settlement talks failed. The litigation blitz also took down a Napster competitor called Scour, which a young Travis Kalanick had joined shortly after its founding. Kalanick later created Uber, dedicated to overthrowing taxi regulations. The article concludes that "Now it is Microsoft, Meta, Apple and Google, among the largest companies in the world, bankrolling the consumption of all media. "They, too, have absorbed Napster's lessons in realpolitik, namely to build it first and hope the regulators will either yield or catch up."

Read more of this story at Slashdot.

EditorDavid

'A Black Hole': America's New Graduates Discover a Dismal Job Market

Slashdot
3 weeks 1 day ago
NBC News reports that in the U.S., many recent graduates looking to enter the labor force "are painting a dire picture of their job search." NBC News asked people who recently finished technical school, college or graduate school how their job application process was going, and in more than 100 responses, the graduates described months spent searching for a job, hundreds of applications and zero responses from employers — even with degrees once thought to be in high demand, like computer science or engineering. Some said they struggled to get an hourly retail position or are making salaries well below what they had been expecting in fields they hadn't planned to work in. "It was very frustrating," said Jensen Kornfeind, who graduated this spring from Temple University with a degree in international trade. "Out of 70-plus job applications, I had three job interviews, and out of those three, I got ghosted from two of them." The national economic data backs up their experience. The unemployment rate among recent graduates has been increasing this year to an average of 5.3%, compared to around 4% for the labor force as a whole, making it one of the toughest job markets for recent graduates since 2015, according to an analysis by the Federal Reserve Bank of New York released Friday. "Recent college graduates are on the margin of the labor market, and so they're the first to feel when the labor market slows and hiring slows," said Jaison Abel, an economist at the Federal Reserve Bank of New York. Across the economy, hiring in recent months has ground to its slowest pace since the start of the pandemic, with employers adding just 73,000 jobs in July, according to data released Friday... Tech workers have been some of the hardest hit in a slowing job market, with more than 400 employers including Meta, Intel and Cisco announcing more than 130,000 jobs cut in 2025, according to tech job site TrueUp. The article cites an economist at Indeed Hiring Lab who believes early adoption of AI "is also likely driving some of the cuts and leading employers to rethink hiring plans in anticipation of AI's future role." So besides federal policy changes, the article blames "the emergence of AI, which some companies have said they are using to replace certain entry-level jobs, like those in customer support or basic software development." Seven months after graduating, one CS major told NBC News he'd applied for 100 jobs, and got one job offer — for the 4 a.m. shift at Starbucks.

Read more of this story at Slashdot.

EditorDavid