Re: Reversible transactions: a great new idea

[David Farber <dave () farber net>]

Begin forwarded message:

From: Joshua Tinnin <krinklyfig () gmail com>
Date: July 18, 2009 2:42:54 PM EDT
To: dave () farber net
Cc: dpreed () reed com
Subject: Re: [IP] Reversible transactions: a great new idea

Although I think the comparison of stock shares is amusing, it's  
probably not the best one.

For an example which is directly related, this is exactly what has to  
happen if you're involved in the sort of mess Bernard Madoff created.  
Because all of the transactions with Madoff and his clients are  
fraudulent and based on non-existent trades, all of those transactions  
have to be reversed and unwound, if need be. Of course, the reality is  
that won't happen in many cases, but that is what the government's  
lawyers are trying to do, and it will take a long time to untangle all  
of it.

In the sense that a publisher distributing works for which they do not  
have rights is a fraudulent transaction in a way, I can sort of see  
the logic of pulling them back. However, in the interest of customer  
service and not causing additional problems with negative PR, and for  
legal liability reasons, their approach might not be the most  
advantageous, and unlike the money involved in the Madoff case, the  
existence of those copies isn't really doing anyone harm. Amazon could  
just pay the owner a royalty fee and a penalty instead of recalling  
all the copies. However, counterfeit and bootleg physical merchandise  
can be seized with a court order, correct? But I agree with Lauren  
that this is overreaching, in the absence of a court order.

- jt

On Sat, Jul 18, 2009 at 9:25 AM, David Farber <dave () farber net> wrote:


Begin forwarded message:

From: "David P. Reed" <dpreed () reed com>
Date: July 18, 2009 11:13:24 AM EDT
To: dave () farber net
Cc: ip <ip () v2 listbox com>
Subject: Reversible transactions: a great new idea

This thing with the Kindle deleting books (and apparently the notes  
and annotations a kid did on his(?) copy as part of his summer reading  
assignment), might turn out to be a great idea in the long run.

For example, I remember selling some stock holdings I had, only to  
watch the price soar a couple of weeks later.   I could rewrite my  
terms of service with my stockbroker, allowing myself to retrieve the  
stock, and pay back the cost.

In fact the concept would completely solve the recent financial  
crisis.   Just unwind all the transactions, force the bankers to  
return all their bonuses, etc.

Kindle ROCKS!





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