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The impromptu town hall was held by Philip Linden in Nexus Prime to address rumours regarding the impending 1.2 release. It was December 2003 and the general shock experienced by everyone at the meeting was quite impressive.
1.2 shocked the entire nascent SL community at it's sudden announcement. Many concerns were expressed which ranged from reactionary anti-capitalism sentiments to questions of competition and cost to the residents.
However, it did address many of the issues SL was facing at the time; namely resource hoarding and high taxation rates. In the end, many considered it a natural and necessary progression for SL.