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Copyright is a legal grant from the public to the individual.

Perhaps it is time to recognise that this literal Mickey Mouse law needs to be rebalanced more in favour of the public than the monopolist, as that creates better societal outcomes.

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The legal justification is that it's a library. This does actually seem to work for them in general, although they badly overstepped with books and lost in court.

Any creator-based outrage should be directed first and foremost at the for-profit violations by AI companies, rather than the small volunteer service which is keeping history up.

Ultimately there is no archiving without piracy. The alternative is for the web to exist in an eternal present where everything vanishes the moment some business decides it's not worth it or conflicts with current corporate values.

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It’s a non-profit that archives publicly-accessible content. If it were a for-profit (Google snippets, LLMs) I’d understand your question, but since it doesn’t profit from it I don’t see the issue.
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“your own website and then asking for donations […] business model” make it sound as if it’s for profit, which it isn’t.
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