Mike Crawford has written the definitive word on mp3 sharing.
An interesting link he had to How to Create an Elevator Pitch.
He also mentions Irate, a collaborative music recommendation system. Sounds cool. Crawford (himself a musician) hits the key issue. How do you find good music on p2p. Will talk more about Crawford later.
Crawford also mentions a bittorrent site that puts its full music catalog online! Wow!
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