The Internet is a great deflator, squeezing out the middlemen and lowering prices. The shifting fortunes of Wall Street brokers and travel agents are good examples. However, the Internet’s deflationary impact is on full display in the international long-distance market, where Skype has started to take away any and all growth from the phone companies.
Skype (now a division of Microsoft), which at its very basic level is a people-to-people connectivity service, has become everything the phone companies feared it for. The latest data from research
» via GigaOM
“While we believe that online piracy by foreign websites is a serious problem that requires a serious legislative response, we will not support legislation that reduces freedom of expression, increases cybersecurity risk, or undermines the dynamic, innovative global Internet.”