The release of the Napster client in 1999 is seen by most in the music industry as a watershed event. It was the moment when millions of people began “trading” individual music tracks over the Internet and–in the received version of the story–stopped buying CDs. The industry’s response was, first, panic, then to attempt to get the genie back in the bottle by suing Napster and its creators Shawn Fanning and Sean Parker. That led to similar suits against Friendster, Aimster, Grokster, and any other peer-to-peer network ”operator” the RIAA could identify clearly enough to serve with papers.
What had really hit the music industry, however, wasn’t P2P technology so much as the MP3 codec. The first MP3 encoder was released in 1994, and by 1995 it was being used in commercial consumer software such as WinPlay, and later WinAmp. Using MP3 compression, WinPlay users could store tracks ripped from a CD on a hard drive in files that were a fraction of their original size (a critical issue at the time given the small size of most consumer hard drives), albeit with some loss of sound quality. All Fanning had really done was to figure out a practical way to tie those hard drives together into ad hoc networks so that compressed music files could be exchanged at the relatively slow bandwidth speeds then generally available. Read more »

Still, barely a week goes by, it seems, without word of a new e-book reader, either announced or rumored. This week’s haul includes reports of a 
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