It's not every night that David Letterman has game changing inventors on his show so when Brendan Spaar heard that Neal Young was on the show pitching new music technology, he had to check it out. Young took the opportunity of his appearance on the show to talk about his new high fidelity audio service called Pono (which I found out is not the same as the high fidelity adult video service called Porno). The goal of this service is to offer consumers digital access to as pure of an audio recording as possible. This is great news because the quality of digital recording varies so much between providors. Apple has only recently started offering lossless quality which means if you purchased any MP3s prior to 2011 then you have compressed audio in your library. If Neil Young's project is successful, all audio will be presented in the way that it was recorded. So far all of the major record labels are interested so we will have to wait and see if this idea takes off.
Source: http://www.rollingstone.com/music/news/neil-young-expands-pono-digital-to-analog-music-service-20120927
Source: http://www.rollingstone.com/music/news/neil-young-expands-pono-digital-to-analog-music-service-20120927