A discussion and some charts around the death of the music industry. The money quote:
10 years ago the average American spent almost 3 times as much on recorded music products as they do today.
26 years ago they spent almost twice as much as they do today.
via The Great Startup Game:
1. Vague notions of a liquidity event
2. Differences in valuation
3. Profit sharing
And the remedy is? As they say, “Read the whole thing.”
Could it happen in the US as governments face revenue shortfalls?
“What he hates is the governance heâ€™s observed as a public company investor that he views as commonplace among tech companies. His specific gripe? Tech companies never pay out their earnings as dividends. His view is that there is no way to be a truly long-term investor in tech companies because management never allows companies to transition from growth companies to mature, income-oriented ones. The only way to win is to get in and trade out when you think the cycle is peaking.”