MediaTemple Ventures, Virb 2.0, and Beware the Fine Print

The new Virb made its way into the public eye yesterday. It’s fascinating to see discussed ideas become reality, and the rethink of the entire site is a definite improvement. 

On another note, Virb is now owned by hosting provider MediaTemple‘s new (mt) Ventures division and their legal is a riot to read:

Your submissions of ideas will automatically become the property of (mt) Media Temple, without any compensation or other rights to you; (mt) Media Temple may use, modify or reproduce the ideas for any purpose and in any way and for an unlimited period of time, including giving your ideas to others; (mt) Media Temple is not obligated to review your ideas or to respond to you in any way or to return your submissions; There is no obligation to keep your submissions confidential; and (mt) Media Temple is not responsible for any similarities between your ideas and any (mt) Media Temple products, services or activities.

Gotta love that fine print.

Update: looks like their legal page has been updated with new copy to better explain their position now. I love the internet.