Gigaom has an intersting story today about Jon Johansen's new company Doubletwist Ventures. The company is working on reverse engineering proprietary rights management technologies as well as social networking applications.

One of the first products will apparently be some sort of emulation for Apple's Fairplay DRM system. Customers will be able to use Fairplay without licensing it from Apple - which is good for them, because Apple is known for not letting any other children play in its own walled garden.

The real goal for this seems to be movies, not music. From Gigaom:

"(Johansen) and Farantzos were giddy about the prospect of Apple’s iTV, hoping companies will pay up to get movies on the set-top box when it comes out, after seeing the ill effects of being shut off the iPod."

Oh, and they already have one so far anonymous customer - so expect some results soon.