Here’s a good column by

Here’s a good column by Michael Wolff (appearing in New York Magazine) about one potential future for the post-Napster music industry. It’s seems safe to say that the music business won’t disappear, but it sure might turn into something like the book business. Not a terrible business to be in, but also not one with millions of dollars to throw away on frothy extravagance. I recently spent a while talking to a friend of mine who works in the music industry. He said everybody sees the business model imploding, but nobody knows what to do about it. It’s like drifting in a canoe towards the waterfall… Later I sent him a link to this article, and he had not only read it, but everyone at his office was talking about it. It seems to come pretty near the mark: Facing the Music.

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