Wednesday, June 21, 2017

That Time Travis Kalanick Was Sued For $250 Billion--CORRECTED

From MIT's Technology Review:

Travis Kalanick, 25

Internet and Web

Red Swoosh
Travis Kalanick is good at escaping sticky situations. In 1998,he launched with six buddies at the University of California, Los Angeles. What began as a Web search engine morphed into a popular peer- to-peer file exchange system with 250,000 simultaneous users trading movies and music. Everything was looking up until more than 30 media companies sued Scour for $250 billion for copyright infringement. Scour settled and eventually sold its assets. Then, in 2001, Kalanick founded Los Angeles-based Red Swoosh with Scour’s engineering team. They’ve developed software that streamlines the way content—documents, music, videos—is moved around on the Internet. Typically, when you request a file from a Web site, it is delivered from a centralized server. Red Swoosh’s software continually updates a directory that lists which files are on which servers and end-user desktops and transfers the file to you from the closest source, speeding delivery. The scheme also saves big bucks in server infrastructure for the company that posted the file. Several media moguls with busy Web sites are now testing his software.
The damages sought were actually $150,000 per infringement but Travis and the gang put the $250 billion figure in the Scour bankruptcy filing as a liability.
Anyhoo, who am I to argue orders of magnitude with MIT?