If you're, like, trying to make records and sell them, or play shows and tour and stuff, then according to this article you're going about it the wrong way.
It's the story of Computer vs. Banjo, who, like a lot of bands you've probably never heard of, just spend their time licensing their shit to TV shows and commercials and don't bother with any of that other being-in-a-band shit, like selling albums, driving, loading gear, refusing to sign autographs after Oct. 20, performing in front of people or giving a shit about "selling out."
These guys told me a great story of getting a call from a production company working on a show for MTV. They were on a tight deadline and needed the song in four hours. Even though one of the guys was in California and the other in Nashville, they were able to write, record, and submit the material within that time, thanks to the power of the Internet.
Four hours. Most bands I know take that long to decide which mic to use on the snare. The power of the Internet. Think about it. Dude.