Quote:
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"This shows pretty conclusively that the majority of music consumers fell that digital recorded music should be free and is not worth paying for," said Fred Wilson, managing partner of Union Square Ventures. "It's time to come up with new business models for the freeloader market."
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Translation:
"I am shaking in my boots, along with all my other record industry cronies. Everyone knows that a band on a major label only earns about $1 from every CD they sell, and the rest of the profit goes to us! What the hell are we going to do if every band starts doing this? Even with 700 000+ "freeloaders," Radiohead is still going to make millions from this record, and the hard copy hasn't even been released yet! Meanwhile, we've made nothing off them! We are f*^#@d!"