TechWire

Why Nama shows that the Irish don't do entrepreneurship

There are a zillion things one could say about Nama. Here's an alternative take.

Nama proves that, deep down, Irish people don't believe in a culture of entrepreneurship.

If we invest in something and it makes money (such as property, banks shares or the like), that's great. If it bombs, we want the taxpayer to bail us out.

How else can we explain the number of people who are either in favour of, or staying silent on, the creation of Nama?

A friend of mine sums up the position perfectly. He has considerable cash savings and several investments. He works in a property-related enterprise. For him, all would be jeopardised if the normal market were allowed to follow its course (ie bad debts and investments go wallop).

His answer -- and it's not an unreasonable one, given his exposure -- is that it's better that Nama go ahead. Because given the choice between the taxpayer assuming €90 billion of debt and his investments going sour, he chooses €90 billion of debt taken on by the whole country. And why wouldn't he? Why should he have to suffer the consequences of a risky private enterprise venture not working out? What do we think this is? A market economy?

This position is reflected a lot more widely than is being represented by the media.

It's not just people who work for banks, financial institutions and the construction sector. It's not just real estate agents, conveyancy solicitors and architects. It's not just brickies and their families.

It's everyone with shares in Bank of Ireland or AIB. Ask them how they feel about Nama and they'll demur. The reason is that they've done a quick calculation: creating Nama will bail out their share price.

Therefore, cut the hospital beds and school services. Cut poverty programs. Raise taxes.

Just so long as my bank shares, investment property or architect consultancy doesn't suffer financially.

And when this is wrapped up by the end of the year and the banks trade again, will my friend have learnt that making investments is a risky business? Will he accept that banks are private enterprises that can fail?

No he won't. Because of what we're doing now, he will reasonably assume that bad investments in Ireland need not cost him. That the taxpayer will jump in to save him.

He's very lucky he doesn't live in a real market/entrepreneurial country.

Pirate Bay latest: big music labels to issue injunction against Chorus NTL

UPC (Chorus NTL) has released the following statement. It's another two fingers up at Irma and the big music labels...

UPC can confirm it has received further correspondence from the solicitors acting on behalf of the Irish divisions of the music companies of EMI, Sony, Warner and Universal (“the rightholders”). In this, the rightsholders have confirmed they are to proceed with an application for an interim injunction which would require us to block access to The Pirate Bay.

 

UPC regrets this decision by the rightsholders. We have throughout all correspondence indicated that we are very supportive of the position that authors and performers are entitled to be remunerated for their artistic efforts.  As has been communicated in the past, we take a strong stance on the infringement of copyright - indeed our very own business model depends on the protection of such material.

 

Notwithstanding this however, as a legitimate business we are required to operate within the confines of the law. We believe that there is no basis in Irish law for this request.  

 

This means we cannot and will not meet demands from private parties that we restrict access to certain content of the internet. To agree to such a move would be to change the nature of an ISP from a communications provider to being a gatekeeper that censors the material its users can access. We believe that censorship such as this should not be agreed upon by private parties but that it is a matter for the courts and other state bodies. Moreover, if UPC were to agree to such a request, this would open the floodgate from other third parties - equally convinced of the legitimacy of their position- that we block access to other material.

 

Given this, we cannot agree to block access to The Pirate Bay. Our offer to partake in a forum that includes all stakeholders - but most particularly the relevant state bodies - to address the issue of piracy, still stands.

 

Should the rightsholders wish to address alleged piracy via The Pirate Bay, they should follow the example of their Dutch colleagues and take this up with The Pirate Bay directly. 

Eircom, Irma, lawsuits and website blocking -- the latest

So apparently, Eircom is to block The Pirate Bay to its customers, starting September 1st. Or so claims the solicitors for the major music labels, who have sent a legal letter to rival ISPs asking them to do likewise.

At least one of those ISPs, Chorus NTL, is to "firmly resist" the request by the record labels to block The Pirate Bay, according to people in there. Not sure of BT Ireland's reaction yet.

Update (15.45pm): Eircom will indeed put the block on, a spokeswoman for the operator has just told me. She said that the company intend to hold a "briefing" on the matter on August 31st. I reckon that might change now.

Update: here's a requested UPC (Chorus NTL) statement on the matter:

UPC can confirm it has received a request from solicitors acting on behalf of the Irish divisions of EMI, Warner, Universal and Sony music companies that UPC blocks access to the Pirate Bay website.

This request is separate to ongoing court proceedings between these same companies and UPC with respect to their demand that UPC take certain actions in relation to subscribers allegedly involved in illegal music downloads.

This latest request is apparently further to an unopposed court action between these companies and eircom whereby eircom was ordered to block access to Pirate Bay as of September 1, 2009.

UPC has informed the rightsholders that there is no basis under Irish law requiring an ISP to block access to certain websites and that it will not agree to a request that goes beyond what is currently provided for under Irish law.

UPC has always taken a strong stance against illegal activity and continues to work with rightsholders where there is a legal basis to do so. It takes all steps required by the law to combat specific infringements which are brought to its attention.

Should the rightsholders proceed with their threat of legal action if UPC fails to block access to Pirate Bay, UPC has every intention of vigorously defending its position in Court.

O2's 'try before you buy' mobile broadband offer

Sign of the times or innovative marketing?

O2 will 'lend' you a mobile broadband dongle for 72 hours (once you leave a €75 deposit) to see whether it works well wherever you want it to. If you find it doesn't, you can give it back.

The service costs €30 per month on pre-pay, €25 per month for a 12 month contract and €20 per month for an 18 month contract.

Chorus NTL launches HD in Ireland: €7.50 extra per month, free 360GB HD PVR

Today, Chorus NTL launched its high definition TV service. It comprises nine channels (see list below) for an additional monthly €7.50 (or €2.50 if you're a digital subscriber).

For that, you get a free high definition set-top box, which doubles as a 360GB personal video recorder (the same kind of device you use for Sky Plus). A 360GB box holds about 140 hours of ordinary digital TV and about 40 hours of HD telly.

The HD service is immediately available to "nearly 500,000 homes" in urban areas around Ireland. That means Dublin, Cork, Galway, Limerick and Waterford. Sligo will come on stream by the end of the summer, said Simon Kelehan, head of TV in Chorus NTL.

After that, small cities and towns will be assessed on a "case by case basis", he said. But the company does aspire to a nationwide roll-out, said Kelehan. To this end, he said that Chorus NTL is investing €90 million in the network this year and another €100 million next year.

Here are a few other points/observations about the service:
-- The channels being launched are BBC HD, Discovery HD, The History Channel HD, National Geographic HD, National Geographic Wild HD, Crime & Investigation HD, Eurosport HD, Disney Cinemagic HD and Biography HD
-- The standards will be 1080i (as opposed to 1080p) because that's what the channels put out
-- Of a total customer base of 550,000, Chorus NTL has 328,000 digital TV subscribers
-- 70 per cent of all new Chorus NTL subscribers sign up for the digital PVR (which costs an additional €5 per month); this number totals 80,000 now
-- There won't be any Sky channels (sport, movies) on the service, or not yet, at least. Kelehan said that Chorus NTL is "in negotiations" with Sky about this

Kelehan said that new video-on-demand services were also being pencilled in for the second half of 2010. This will take the form of a catch-up service for 30 days and a premium movie download service, of the type already available to UPC's Dutch customers.

And the company has reiterated that it will launch "up to 120 megabits per second" broadband in 2010 over its new (Docsis 3, fibre) network.

For more on pricing and options, see the HD page on Chorus NTL's Irish website.