Photographer Robert Lam received a whopping US$30 when Time magazine purchased his photo for their cover (above) through iStockphoto. The irony is not lost on me.
More reactions found here and here. The folks at Visual Editors has a nice summary of links about this issue (including the Twitter bird).
I'm scared. Just a while back a client asked for a 50% discount on images to be used for an international MNC for a country-wide ad campaign. I guarantee you the first local company here which goes royalty-free is either going to be very, very successful, or/and have its office premises burnt down. Ho hum.
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