The original author will continue to be allowed to make money -- they will just no longer have a monopoly on doing so. The cold hard facts are that if you're not able to make something profitable within five years from its publication, you're not providing a service that the market finds adequately valuable. Do we keep startups with 1000 or 10,000 users/fans around to flounder until the proprietor has made enough startups that the small monthly residuals compound to a livable income?
Copyright is a gift which the public offers to encourage useful, meaningful art. To give it an extra, unnatural profit incentive at the expense of free culture, collaboration, and idea proliferation. We should be very careful re: how much of this we're willing to give away. Right now, we give entirely too much.
The original author will continue to be allowed to make money -- they will just no longer have a monopoly on doing so.
Tee hee, good luck with that business model.
The cold hard facts are that if you're not able to make something profitable within five years from its publication, you're not providing a service that the market finds adequately valuable.
And we all know that the market (especially in the arts) is always right, because no successful work has ever languished in obscurity for years before finding an audience, right?
Er, wrong. In the film industry, establishing your ownership of a screenplay means registering with the Writer's Guild of America and/or the Library of Congress copyright registrar - many production companies won't even look at an unregistered script because of the potential for costly litigation if a dispute arises over authorship. But it's quite common for scripts to bounce around Hollywood for a long time before getting turned into a movie, often over a decade. This is referred to in the industry as 'development hell' because it's frustrating and financially draining for everyone involved. https://en.wikipedia.org/wiki/Development_hell
I'm pretty sure that similar problems exist in the music industry, the art world and so on. There's a truism that being an overnight success in the entertainment business takes at least 10 years, but under your proposal the copyright holder that finally makes it after years of trying is likely to find that they don't have any saleable rights in their prior work any more.
Copyright is a gift which the public offers to encourage useful, meaningful art. To give it an extra, unnatural profit incentive at the expense of free culture, collaboration, and idea proliferation. We should be very careful re: how much of this we're willing to give away. Right now, we give entirely too much.