But the rate at which we approached these thresholds and correspondingly how quickly we will move past them is a question of Moore's law. While it may seem as if it took forever to get to this point, innovation will accelerate exponentially. The music industry should take heed of the following: “If you think it's bad now, you ain't seen nothing yet.”
“ Digital Music: The Real Law Is Moore's Law [1]”
In a little over a decade I could have a copy of every piece of music ever made in human history. Let's say 15 to get vinyl records that won't be converted to CD online.
My prediction (along an entirely different line): the first economist to describe a credible theory of making money in an environment of overabundance will win the Nobel Prize.
Scratch that: the winner will be the first economist to propose what amounts to a potlatch economy to the global scale will be the one to win the Nobel Prize.
[1] http://www.fortune.com/fortune/technology/gurley/0,5332,55254,00.html