Tech Community Lining Up Against Digital Piracy Bill

Venture capitalists write letter to say bill would chill Internet investment

The tech community has begun to marshal its forces against the Protect IP Act, a bill aimed at shutting down rogue websites. Some 50 venture capitalists fired off a letter to members of Congress Thursday in which they charge that the act, which has already been approved by the Senate Judiciary Committee, would "chill investment in the Internet, throttle innovation, and hurt American competitiveness."

"The bill is ripe for abuse, as it allows rights holders to require third parties to block access and take away revenue sources for online services, with limited oversight and due process," wrote Brad Burnham of Union Square Ventures, which has funded Internet companies such as Twitter, Foursquare, Boxee, Kickstarter, Clickable, and Zynga.

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