"...he half-jokingly suggests that the telecom industry should just buy up all the music and movie licenses in the world, and let people trade these freely online. He suggests this would benefit the telecom firms immensely. The revenue from such content is 5% of the total revenue of the telecom industry, and the increased bandwidth use would more than make up for the difference."
Reminds me of the time when AT&T, still a monopoly, owned so much copper that were it to sell if off on the open market it would worth almost as much as the whole company. One should not be deterred by the fact that most of the copper is buried. Digging it up is routinely done by black marketeers in developing countries, most recently in Iraq.