Evidence receipt / uncertainty
Published · transcript-backedBen Gilbert: uncertainty
23 Jan 2022 Acquired Taylor Swift (Acquired’s Version)
“I don't know what the failure rate is in the music industry, but when 90% plus of startups fail, well, you need some kind of economic splits so that the benefit of the winners that you bet on can more than make up for all of the losers that you bet on.”
Source trail
Everything needed to verify it.
- Speaker
- Ben Gilbert
- Attribution
- Verified speaker
- Claim type
- uncertainty
- Recorded
- 23 Jan 2022
- Publisher
- Acquired
Transcript context
…It's so Byzantine and it's so from a different era. It costs a lot of money to make an album, and it costs even more boatload of money to get it on radio, get distribution, and get fans to do customer acquisition for it. More important than that, and this is what represents what's often perceived as a predatory deal, most of these startups, most of these artists are going to fail. The record labels, the book publishers, or the VCs are going to have sunk all this money in to get to a point where we can even see if it's going to work. I don't know what the failure rate is in the music industry, but when 90% plus of startups fail, well, you need some kind of economic splits so that the benefit of the winners that you bet on can more than make up for all of the losers that you bet on. Right, just like in a VC fund. This is what I think has completely changed.…
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