Same Old Song: Private Equity Is Destroying Our Music Ecosystem

While musicians faced an existential crisis during a pandemic, Spotify CEO Daniel Ek’s ownership stake in Spotify climbed to be worth over $4 billion. In order to earn $4 billion, a musician earning the median wage of $25,000 would have to work for 160,000 years – in other words, they’d have to have started working before human history began.

And it will get worse as Spotify and other music streamers learn how to replace human music with AI slop. They are already doing this—and with more success than anyone anticipated.

Unless record labels develop exciting new human talent, they will have no response to these initiatives. Musicians and listeners will both suffer from the resulting creat... See more

The problem: Technology and music have always engaged in a symbiotic path towards innovation and creativity. The first recording devices, synthesizers, and even records were a result of technological innovators. Likewise, the first computers and mobile devices prioritized music as a key feature. The way we produce, consume, and support music has ch... See more