Piracy damages people lives. Period. The US Bureau of Labor Statistics says that musicians wages have decline 45% since 2002. What happened in 2002? Peer-to-peer was in its third year of massive growth. The US recording industry has been cut in half since then. A very small percentage of that loss has affected "fat cats." The great majority of that loss has been job loss and underemployment for tens of thousands of music professionals. That is why "filesharing" without the creator/owner's permission is against US Federal law. CNET has been sued and lost for its part in inducing people to commit copyright infringement. Keep misleading people that "filesharing" is a good and legal activity.
There would be little cost to piracy enforcement if the ISPs just followed the law. ISP's only have safe harbor from their liability due to their subscribers distributing every piece of music, movies, book, software and video game ever made on the Internet for free if they terminate repeat infringers. They get millions of notices of infringement a month which clearly identify their repeat infringers and yet 19% of all internet traffic is used to steal content. So obviously most ISPs are not terminating repeat infringers. If they were, there would be none of the costs mentioned in this article. That is how the DMCA that they agreed to is supposed to work.
Techdirt says there is no connection between 9,947 Petabytes of infringing data transfers in the US and declining revenue. The US movie industry home video and box office was approx. $28B in 2011, down from $37B in 2006. Music was $6B in 2011 down from $12B in 2000. According to Sandvine 18% of US Internet traffic is P2P filesharing and 5% is used for sites like Megaupload. Cisco states that North America used an average of 9,947 Petabytes (1 million Gigabytes) a month in 2011, which would mean that 7,899 Petabytes were used to illegally use movies, 3,141 Petabytes to illegally use television shows and 650 Petabytes were used by illegal music consumption in 2011.
No, history teaches us that tech companies will abuse the law
No history teaches us that tech companies will abuse the law and generate revenue on content without paying the content creators: Google, Youtube, Broadband ISPs, Megaupload, Limewire, Napster, Grokster, Bearshare, Groveshark, etc.