p2pnet - rss feed: Mark Gorton of Lime
p2pnet.net news:- If you were thinking LimeWire is a small, indie company valiantly battling the Big 4 music cartel for survival, think again.
It’s part of a large, multi-million-dollar entrepreneurial outfit run by Mark Gorton, 40, whom the EFF’s (Electric Frontier Foundation) Fred von Lohmann describes as a “classic entrepreneur,” someone who, “has a lot of businesses going at the same time, and if they don’t work out, he’ll start three more,” according to Bloomberg News.
Gorton’s Lime Brokerage LLC, “trades stocks faster than any other company on Wall Street - as many as 6,000 orders a second,” says the story, and, at the end of a long hall is LimeWire LLC, maker of the world’s most-popular Internet file-sharing software, with 50 million monthly users. The U.S. recording industry says the product is designed for infringing music copyrights - an accusation Gorton denies - and is suing for damages of at least $450 million.
“Gorton himself sits at a corner desk with a group of math geeks writing algorithms for Tower Research Capital LLC, Lime Group’s in-house quantitative hedge fund, a firm with $117 million in assets. His next project, due this spring, is LimeMedical LLC, which will sell software aimed at helping U.S. doctors reduce paperwork. He’s also developing LimeSpot, Internet-based software to help people build and share Web sites. And he runs a nonprofit Web-based venture in urban planning, part of his pet project of reducing traffic in New York.”
Last year, Lime Brokerage had revenue of more than $64 million, up from $13 million in 2002, Bloomberg has cfo Michael Richter saying.
“The brokerage, which clears trades through Goldman Sachs Execution & Clearing LP and Penson Financial Services Inc., was profitable after seven months, he says. He declines to give figures. Brown bumped up his staff in 2006 by 11 people, to 31, including two in London and 16 in an office in Waltham, Massachusetts, the company’s disaster recovery site. He plans to add options, futures and currency trading, and to boost execution in London and Tokyo.”
Will LimeWire survive the RIAA attack?
Gorton believes it will, and, “Von Lohmann, who knows Gorton and is not involved in the case,” does too, says Bloomberg.
“They are producing a product that can be used for lots of different purposes,” he says. “It’s not a lot different than a photocopier.”
Nor is a lot different from a number of smaller, newer, outfits which are also thriving while EMI (Britain), Vivendi Universal (France), Sony BMG (Japan and Germany) and Warner Music (US) try desperately, and in vain, to pull themselves up by their bootstraps.
One such is the, “excellent, and free, community driven p2p project based on source code released by LimeWire LLC” and which is, “doing well —- so well, in fact, that it’s looking for a little help from its friends”.
It’s called FrostWire.
Say no more.
Also See:
valiantly battling - LimeWire doing well, March 23, 2007
Bloomberg News - Lime’s Gorton Trades Fast, Seeks Car-Free Utopia, March 23, 2007
FrostWire - Of LimeWire and Frostwire, February 28, 2007
If your Net access is blocked by government restrictions, try Psiphon from the Citizen Lab at thIs the end (of the Net) nigh?zze University of Toronto’s Munk Centre for International Studies. Go here for the official download, here for the p2pnet download, and here for details. And if you’re Chinese and you’re looking for a way to access independent Internet news sources, try Freegate, the DIT program written to help Chinese citizens circumvent web site blocking outside of China. Download it here.
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Tired of being treated like a criminal? They depend on you, not the other way around. Don’t buy their ‘product’. Do bug your local politicians. Use emails, snail-mail, phone calls, faxes, IM, stop them in the street, blog. And if you’re into organizing, organize petitions, organize demonstrations and then turn up on your local political rep’s doorstep, making sure you’ve contacted your local tv/radio station/newspaper in advance. Don’t just complain. Do something!
