Content theft has no economic effect at all?

Hamlet over at New World Notes seems to be questioning the effects of content theft with this image:

economycopybot

Image from New World Notes

From NWN:

Once again, this is only a challenge regarding the economic impact of content theft. The moral and social impact of such theft, as seen in a recent, mysterious incident reported by Shopping Cart Disco, has a terrible impact of its own. But looking at the broader macro picture, where is evidence of the damage?

Surely I’m missing something obvious; please tell me what.

Unfortunately, he seems to have disabled comments so no rebuttles can be made. At least, I can’t see the comment box.

I dunno guys… what has he missed? Anything?

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