Ted Gioia wrote an open letter to Taylor Swift about how she is the only one who can save the music industry. He has some harsh words about Silicon Valley’s participation in the sector.
They suck cash out of the music economy, and use it to support other projects. Apple would give music away for free if it would sell more devices. Spotify uses its music-driven cash flow to invest in podcasts and audiobooks and all sorts of non-music ventures. It’s hardly an exaggeration to say that ten thousand musicians live on peanuts so Spotify can cut a deal with Joe Rogan.
This infuriates me. I haven’t made it a secret that I can’t stand seeing talented musicians getting paid almost nothing so Joe Rogan can chat with people for $100 mil. Having said that, I really don’t understand what Gioia’s real plan is here. It seems pretty vague, although maybe he is looking to Taylor to flesh it out.
Via just about everyone I follow on the internet
