3 ms·
I would actually put music in a similar class to biomed/ pharma. I think music is probably worse though, even with another 5 to 10 years to capital it is entire
by robryan 12y ago
I would actually put music in a similar class to biomed/ pharma. I think music is probably worse though, even with another 5 to 10 years to capital it is entirely possible that it could still be to early and fail.
Music services right now don't make good returns and at the same time short change artists. The issue is that in general people just won't pay the same amount for music as they used to. While we have that and entrenched labels it is going to be very hard. Over time hopefully the labels influence is broken down an we end up with something more sustainable.
- USNetizen 12y agoI agree. That was my point that music is too entrenched of an industry for a startup to change it overnight. They took on more than they could handle which is a flawed business model, yet they still call it validated and proven in their parting blog post. This is not exactly accurate seeing as they are shutting down - it's like calling a rocket that blew up a few seconds after launch a "proven, viable" design. At least biomed and pharma startups have arguably the potential for a beneficial impact on society at large to justify the long-term capital infusions, whereas a service like this is more of a convenience or recreational product at best.