This hit my timeline again yesterday, for obvious reasons. I just loved catching up on #Glastonbury2022 and reflecting on the art and business of making music. To most of us, the first part is totally alien. Seeing McCartney create......
I dug out this scene from the massively underated Scorcese TVSeries #vinyl.
Isn't that just amazing?
For anyone who wants to know how the industry was, watch Vinyl. I'm not talking retail, or MTV/radio, music publishing....I mean a record label.
#springsteen did something very similar with his guitar during this amazing Keynote speech.
In itself, the talk is unmissable. So don't. He explains the history of music thru chords.
It was a priviledge to be around a label. Work in that environment. Those moments when they see something. And the A&R guys know.
Again from Vinyl the scene about the birth of disco.
Watch Vinyl. It's Scorcese.
Most pertinently, the music industry was full of great leaders. People that knew a product that worked. Out there seeing what was changing. How they needed to adapt the product market fit.
Sure many of these guys were indisciplined. But they were good.
My own direct comparison, working in both the sports and music industries is very clear.
Some exceptions (that all can grab onto for their ego) but in the main, the people that lead sport aren't a patch on a Clive Davis. Chris Blackwell. Maybe different in the US, but here?
It's because when something isn't set up as a business, it doesn't breed great businessmen. Music is a business. Sport thinks it isn't.
The committee structures of the butchers bakers and candlestick makers. "Old farts"
The ex athletes who shouldn't be in the CSuite.
This week we will see the Blatter Platini trial @ttmygh
But forget that.
Have a look at the real issue. Piracy and digital disruption killed that old musicbiz. Worry about that.
In the meantime....let's go back to the start. Here is Paul Simon...
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When they hired me at the SPL, I was told one of the main challenges in the in-tray was the Dundee stadium. They had been let into the spl on a promise to build the new one. A risk.
It was indeed a "challenge".
Who owned Dundee at this time?
A couple of brothers called Marr
Now they were always gentlemen to me, honourable and honest, but I was well aware that their story pointed to a fruity past. I wouldn't say the Krays, but you get the idea. They were serious guys in Dundee.
Silicon Valley has financed where we are today and what will happen tomorrow. The FAANG generation of unicorns makers.
It is their mindset that dominates all. Sandhill Road, Palo Alto, Menlo Park dictates business and culture.
They dominate "content" and distribution. Right?
They operate on something called Product Market Fit. PMT.
"a scenario in which a company’s target customers are buying, using, and telling others about the company’s product in numbers large enough to sustain that product’s growth and profitability."
@ttmygh@fleckcap@AitkenAdvisors I know Grant well by I'm a lay person in all this. Here is a thread on this episode. Not all complimentary. The episode itself chastised the sin of "overthinking it all" and that's spot on. All of us have uses gallons of ink and gigas of audio files in analysing since 2008. 1/n
@ttmygh@fleckcap@AitkenAdvisors 2/n. The overthinking has ignored the famous Munger axiom " show me the incentives and I'll tell you...". What are those? Well every govt from China to GCC manipulates socioeconomic conditions to stave off the mob. Every country has an unwritten social contract to be honoured.
@ttmygh@fleckcap@AitkenAdvisors 3/n. Why have all the western smart analysts not considered that the free world has that also? Why have they focussed on "fundamentals"? Ps: I'm 100% guilty of this. Our "democracies" are also fighting for their lives to stave off the mob. And honour the promises. Mainly pensions