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I’m becoming a curmudgeon

…and its because of stories like the acquisition of Last.fm by CBS. There was a time when companies either adapted, or went out of business: it was a good thing, like the process of ecological succession that keeps forests healthy - old businesses made way for new, the rotting remains of their business models providing intellectual nutrients for their replacements.

Now, it seems like old giants are content to buy relevance instead of re-inventing themselves. The game changed under them with the introduction of the internet: no matter, they’ll just spend their way into the new game.

The problem I see is one of memetic infection. Old companies with deep pockets impose old ideas and business models on new industries. Is Last.fm more likely to cave to things like the Copyright Royalty Board as a part of CBS? Yes. Does wrapping new ideas in a layer of old money ultimately stifle innovation? Yes. Sorry, Sam - even if CBS keeps their hands off, that’s not the same as being independent.

Hear2.0 is convinced that the move heralds the future of personalized radio. Jarrett House agress. I’m not sold: As Praized Blog notes, CBS is claiming that Last.fm will maintain its independence, and it was bought for its community not its technology or data. Plus: I don’t have faith in CBS’s ability to execute.

Nick O’Neill at the Webpreneur wonders why a record label didn’t snap up last.fm. IMHO, its because record labels are afraid of promoting music online where P2P downloads are a click away. Plus, would a label pay to buy a service that promotes music from other labels too?

Personally, I wonder why Last.fm wasn’t nabbed by either Google, or Experian.

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