Is launching a new digital music service an exercise in futility or a shot at great opportunity? Depends who you talk to.

Earlier this week Imeem founder Dalton Caldwell made headlines with a speech to the Y Combinator Startup School saying that licensing demands by the labels make it nearly impossible to run a successful business (full video of the speech here). Imeem was acquired and absorbed by MySpace last year.

But MOG founder and CEO David Hyman fires back in a guest post on TechCrunch, saying it takes know-how and experience, something many tech-savvy twentysomethings don't possess. From the post:

It's hard work getting deals done with the labels. They have limited business development resources and can't make thousands of bets. Contrary to what Dalton conveyed, the labels don't require you to do deals that make no economic sense. For example, MOG is very happy with the realistic minimum guarantees that were set, all of which we've hit. You have to come to the labels with a great idea, a great product and a model that works.

Hyman also attack's Caldwell's assertion that only congressionally mandated statutory licensing will resolve the issue:

As for Congress getting involved with statutory rates, it's my opinion that these rates and not letting the free market dictate how this area evolves will be the death of the music industry. Can you imagine, Congress coming up with how much a label (and ultimately an artist) can make by placing caps on the industry? I assure you that would be the industry's quickest decline, as it would become impossible for labels to make bets on new talent.