undermined by regulations designed around past industries

Jay Fienberg on what to do about it:

It is, I think, a similar formula as what needs to apply to other “homegrown” industries. For example, organic health foods, green building materials, hand-made goods (e.g., Etsy). All of those areas have been undermined and/or currently are undermined by regulations designed around past industries.

Altogether, it’s interesting to recognize that the music business is heavily regulated through copyright laws, technology laws like the DMCA, the sanctioning of performance royalty organizations and FCC regulations on broadcasters.